Chinese authorities continue to tighten cryptocurrency regulation. As you know, 75% of Bitcoin mining and 70% of the world mining of all cryptocurrencies are carried out in China.
Mining farms in the country were cut off from electricity for a rigorous tax audit. Especially the tax authorities, in addition to the tax revenues of mining farms, were interested in contractors of mining farms, that is, with whom they cooperate and conclude contracts.
Checks already passed, only a decision on the reverse connection of mining farms to electricity has not yet been received. During downtime, on average, mining farms lost $ 143,700 per day.