Bitcoin (BTC) Miners Start Downloading Switches in China


According to images shared on social media, Bitcoin (BTC) miners in China started to turn off switches.

According to the images shared on social media, Bitcoin (BTC) miners in China started to turn off switches.

As we previously reported, the Chinese government announced that mining activities would be prevented from reaching energy within the scope of energy policies. Since there is no energy, many mining facilities have to close.

Finally, the previous day, it was decided to cut off the energy of 26 mining facilities in Sichuan. According to the order given by the state, the energy of 26 mining facilities began to be cut.

Many pools have already been affected by this decision. In the posts circulating on social media, it is seen that the miners have started to turn off the switches.

“It will be beneficial in the long run”

Commenting on these pressures from China, Bitcoin advocate MicroStrategy CEO Michael Saylor said that this would actually be beneficial. Saylor used the following statements:

“The dominant force in Bitcoin’s movements right now is the pressure on mining and trade in China, which started in May. This enabled the forced and hasty exit of Chinese capital and mining from the Bitcoin network. It is a tragedy for China and a benefit for the rest of the world in the long run.”

Many commentators already say that this will stop mining monopolization and increase decentralization.

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