Chinese miners in Xinjiang and Guizhou have suspended operations for the state tax and registration checks.
As reported local media, crypto mining companies in these provinces were disconnected from the power grid beginning from November 5. As a result, these measures caused 1 million production capacity loss per day during the inspection period.
The authorities and law enforcement bodies checked the tax reports, assets and other information, with a strong focus on crypto miners.
According to the news reports, the inspection has been completed by now. However, it is unknown whether crypto miners are reconnected to the power grid. During the checks mining companies reportedly had to sign a so-called guarantee book requiring higher standards of real-name registration.
Moreover, crypto miners will not provide services to the clients that will refuse to follow the requirements.
Speaking about Bitmain, the leading producer of crypto mining equipment, it is unclear about the impact of the recent measures on the company, especially given the recent launch fo 90,000 miners in Xinjiang on upcoming BCH hard fork.