Ya'an City, Sichuan Province, has launched a cleanup and rectification campaign against Bitcoin mining. The local mine has been temporarily shut down for self-inspection.

On June 18, Sichuan Development and Reform Commission and Sichuan Energy Bureau officially issued the "Notice on Cleaning Up and Shutting Down Virtual Currency Mining Projects". The document shows that the people's governments of all cities (prefectures), State Grid Sichuan Electric Power Company, Provincial Energy Investment Group, central power generation companies in Sichuan, and provincial state-owned power generation companies should follow the spirit of the 73rd executive meeting of the provincial government and implement the requirements of the 51st meeting of the Financial Stability and Development Committee of the State Council on "cracking down on Bitcoin mining activities". The relevant matters are hereby notified as follows:
1. Complete the screening and closure of key targets. The provincial power company has reported 26 suspected "mining" projects and completed the screening, cleaning and closure before June 20;
2. Conduct self-inspection and self-correction by power generation companies, and immediately stop supplying power to cryptocurrency mining projects;
3. Carry out a comprehensive cleanup and investigation. All municipal (state) governments should immediately conduct a dragnet investigation and immediately shut down any suspected projects, and complete the investigation before June 25;
4. Effectively perform the principal responsibility and ensure that the cleanup and shutdown tasks are completed with quality and quantity guaranteed.
There is new news in the crypto space again. According to media reports, a major crypto mining hub in Sichuan Province, China will completely shut down mining operations. On June 17, according to an informed source, multiple departments of the Ya'an Energy Bureau and the Science and Technology Bureau of Sichuan held a meeting today and made a resolution to clean up and rectify Ya'an Bitcoin mining companies.
In addition, some miners have received notice that due to the Ya'an Municipal Government of Sichuan Province meeting on June 17 to discuss the mining of virtual currencies such as Bitcoin, all power stations in the area will be shut down for self-inspection before 22:00. The specific power-on time will be notified separately after the meeting on the 18th.
It is reportedly unclear when miners will be able to restart their mining machines, but another meeting is expected to take place on Friday (June 18).
According to previous news, the Sichuan Supervision Office of the National Energy Administration held a research seminar on virtual currency "mining" on June 2, but no resolution was reached. Recently, Inner Mongolia, Xinjiang, Qinghai, and Yunnan have successively issued regulatory policies for virtual currency mining. Currently, among China's major Bitcoin mining provinces, Sichuan is the only province that has not yet implemented supervision.

It is reported that Bitcoin mining in Sichuan uses hydropower, which is a clean and renewable energy source. Most of the hydropower used by mining companies comes from the "park electricity" in the Sichuan Hydropower Consumption Industry Demonstration Zone. The computing power used for Bitcoin mining in Ya'an accounts for about 10% of the total computing power of Bitcoin mining in Sichuan.

On May 25, the Inner Mongolia Development and Reform Commission issued "eight measures" for soliciting opinions, proposing different crackdown and punishment strategies according to eight categories of targets. It will investigate and punish illegal activities such as money laundering and illegal fundraising in the form of virtual currency, put "mining" companies and personnel on the blacklist of dishonest persons, and transfer all public officials involved in "mining" to the disciplinary inspection and supervision authorities for handling.
On June 9, the Qinghai Provincial Department of Industry and Information Technology issued the "Notice on Comprehensively Shutting Down Virtual Currency "Mining" Projects", which launched a cleanup and rectification of virtual currency mining activities. According to the requirements, all types of virtual currency "mining" projects are strictly prohibited, and the project entities engaged in virtual currency "mining" are resolutely investigated and corrected. Inspections and spot checks will be conducted on the rectification situation in the future.
On June 9, the Development and Reform Commission of Changji Prefecture, Xinjiang, issued a "Notice on Immediately Suspending and Rectifying Enterprises Engaged in Virtual Currency Mining". The notice stated that all enterprises engaged in virtual "mining" must suspend production and rectify before 14:00 on June 9, and report the suspension and rectification of the enterprises to the Changji Prefecture Development and Reform Commission.
On June 12, an official from the Yunnan Provincial Energy Bureau office confirmed that according to the requirements of the notice, all electricity-consuming departments will be organized to conduct joint inspections in a timely manner, and the cleanup and rectification of electricity consumption by Bitcoin mining companies will be completed by the end of June this year. Bitcoin mining companies that rely on power generation companies, privately connect to electricity without permission, evade national power transmission and distribution fees, funds, and make additional profits will be severely punished. Once discovered, power supply will be immediately suspended; power generation companies that use the electricity they generate to supply electricity to Bitcoin mining companies without permission to obtain improper benefits will be severely punished; Bitcoin mining companies that have safety hazards in electricity consumption will be severely punished. Once discovered, they will be immediately ordered to shut down and rectify. "The progress of the current cleanup and rectification of Bitcoin mining needs to wait for further follow-up visits to be determined."
Prior to this, the Internet Finance Association of China, the China Banking Association, and the China Payment and Clearing Association jointly issued a document requiring financial institutions not to provide services related to virtual currencies, and the Financial Stability and Development Committee of the State Council held a meeting and pointed out that Bitcoin mining and trading activities should be cracked down on.

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