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2021-06-11 12:34:49

China's Qinghai province orders shutdown of cryptocurrency mining - Reuters

Igor Kutyaev/iStock via Getty Images Some Chinese provinces follow up after China's renewed call to ban bitcoin mining and trading a few weeks ago. Authorities in China's Qinghai province in northwest China and a district in adjacent Xinjiang instructed cryptocurrency mining projects to shut down this week, Reuters reports. The news organization cites notices from the Qinghai officer of China's Ministry of Industry and Information Technology. Cryptomining operations in Xinjiang's national Zhundong Economic-Technological Development Park were told to close, Reuters said. Xinjiang is China's largest bitcoin mining center, home to about a third of total computing power, and Qinghai is ninth-largest, Reuters reports, citing University of Cambridge data. Bitcoin (BTC-USD) is off ~1.7% in the past 24 hours to ~$37.2K and has stayed within a range of ~$31.8K to $39K since May 27. Ethereum (ETH-USD) falls 3.9% to $2,458; Binance Coin (BNB-USD) -0.9% to $359.05; Cardano (ADA-USD) -3.7% to $1.51; and dogecoin (DOGE-USD)

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