Bitcoin: China Gradually Cuts off Electricity to Miners

The Regional Development and Reform Commission and the Sichuan Region Energy Department of China ordered the closure of 26 Bitcoin mines as of June 18 and within 48 hours . On top of that, Sichuan’s electricity suppliers had to cut power to the mines in question, which was done on Sunday, June 20, according to witnesses present during the operation. These decisions were made against the backdrop of new restrictions on any cryptocurrency, with the country banning its financial institutions from offering such services for sale.