August 28, 2020 Chinese mining operations stripped of benefits in clampdown.

The Department of Industrial and Information Technology of China’s Inner Mongolia Autonomous Region announced this week that it will require a local electricity trade company to bar 21 cryptoasset mining operations from energy trading. Affected firms include two subsidiaries of Bitmain and one subsidiary of eBang. The new regulations will prevent the firms from benefiting from a liquid energy marketplace operated by a state-owned energy trading company.

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