Real OC Politics

Bringing the truth to the people

Mining Companies Flee China as CCP Cracks Down on Cryptocurrency

After the State Council of China recently announced a crackdown on bitcoin mining and trading practices, several well-known mining pools and companies announced they are leaving China, and moving their businesses to other countries. Several mining platforms have announced that they are blocking IP addresses from China. The “mining” of virtual currency refers to the process of mathematical computation through computer nodes for the blockchain network, and the competition of transaction validation. The companies running these computer nodes are the “miners,” and the nodes are the “mining rigs.” BitDeer, a cloud mining platform, announced that it would block all IP addresses in mainland China from May 26 in order to cooperate with the Chinese Communist Party (CCP)’s regulations. Also on May 26, Mars Cloud Mine also announced that it would block access to IP addresses in mainland China. Mars Cloud Mine also announced on May 23 that some of its …

Leave a Reply

Your email address will not be published. Required fields are marked *