China Powers Down Bitcoin Mining Farms Amidst Coronavirus Scare

  • Chinese authorities are shutting down bitcoin mining facilities in an effort to contain coronavirus spread.
  • Bitcoin mining facility operator Jiang Zhuoer questioned why authorities would be targeting crypto mining. 

Chinese authorities are shutting down bitcoin mining farms in an effort to contain the spread of the coronavirus epidemic. 

According to a report by Finance Magnates on Friday, bitcoin mining pool operator Jiang Zhuoer revealed on Weibo that his mining facility along with others had been shut down by local authorities.

Jiang said police cited the spreading coronavirus epidemic as reason for closing his mining operation. 

Jiang wrote, 

I have a mine in a remote suburb. The police came and forced all the mining authorities to shut down. It is understandable to take a regular… roll call, and strictly prohibit going out, but what’s the benefit of shutting down the mining machine to prevent the epidemic?

He added, 

Maybe all the other factories have been shut down, and we are no exception. If [this continues], most people will die from poverty before they die from the epidemic.

Despite the coronavirus scare and Chinese authorities closing mining operations, bitcoin’s hash rate has continued to rise since the start of the new year. 

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