Since the State Council’s Financial Stability and Development Committee expressed its position, China has set off a new round of virtual currency supervision. From rectifying mining to prohibiting trading, layers have been overweighted and interlocked. Especially for mining, Inner Mongolia, Xinjiang, Sichuan, Qinghai, and Yunnan have successively introduced strict supervision measures to "make it rigidly uniform" for mining companies.
The closure of some Bitcoin mines in China may bring short-term fluctuations to the price of Bitcoin, but in the long run, it will not have a big impact on the price of Bitcoin. Because these mine hashes will gradually be replaced by overseas mines.
It has to be said that this regulation will bring huge losses to all miners who mine in China. Whether this policy adjustment will have an impact on the world's mining pattern needs further observation. In any case, for miners who want to continue mining gold in the Bitcoin mining industry, leaving China is a foregone conclusion.
However, a more realistic problem is that before the global epidemic is under control, whether it is mining machines leaving China or people leaving China, they will face cumbersome procedures. However, judging from the current global mining landscape, the world's leading mining industry may have more resources, distributed all over the world. Compared with mining companies with a single regional layout, they have better anti-risk capabilities.
RHY has invested and constructed 27 blockchain data centers in Eastern Europe, the United States, Canada, and China. The power supply scale exceeds 600MW, and the hosting scale exceeds 356,000 units.
With the closure of Chinese mines, RHY mines gradually increased their investment in the construction of mines in Canada and the United States, and expanded local mines. At present, in addition to the original hashrate and mining rental business, the RHY mine has also opened the Mine rental business.