Miners began to leave the Chinese province of Inner Mongolia, where mining of cryptocurrencies may be prohibited from May, writes RBC Crypto with reference to the local publication Haimanews. Mining farms have already started exporting equipment to other provinces in China or abroad. Many companies have decided to relocate their infrastructure to Sichuan. Cloud mining service provider Weminer said it will close several projects due to possible restrictions.
According to the publication, there are also such mining farms that had a presentiment of the ban and prepared in advance to leave the province. Such companies have avoided major losses.
Earlier, the government of Inner Mongolia put up for public comment an initiative to ban cryptocurrency mining in order to reduce carbon emissions and bring the indicators to the norm set by the national government.
The State Committee for Development and Reforms of the People’s Republic of China has previously advocated a ban on mining in the country. In 2019, he added mining to over 450 unwanted activities that violate applicable laws, are unsafe, waste resources and pollute the environment.
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