🔍 Cryptocurrency mining farms in China shut down for ‘strict’ tax inspections

Cryptocurrency mining operations in the Chinese provinces of Xinjiang and Guizhou were suspended so the government could conduct “very strict” tax inspections and real-name registration checks. Power to the mining farms was shut off on Nov. 5, sources told local daily Cong News. As a result, the mines lost about 1 million yuan (or roughly $143,700) a day during the period of “rectification.”