Chinese Bitcoin Miners Fail to Pay Electricity Bills Amid Crackdown on Crypto Exchange

Bitcoin miners in Chian are currently struggling to carry their mining activities as the government crackdown on the exchange of crypto for national fiat CNY intensified. China is a hub for Bitcoin mining because of the cheap and clean electricity availability, however looking at the growing restraints from the government, these miners might have to move out of the country if they wish to continue bitcoin mining. As per a recent survey conducted by a local media publication WuBlockchain, 74% of the miners reported that the recent crackdowns are making it difficult for them to pay their electricity bills. Advertisement…