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Chinese Bitcoin miners move westbound to Xinjiang

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Chinese Bitcoin miners are moving its operations towards the northwestern part of country since coastal region and inland provinces are taking measures to restrict bitcoin mining activities due to large consumption of electricity.

The popular destination for new settlements of bitcoin mining is Xinjiang Uyghur Autonomous Region which is a provincial-level autonomous region of China in the northwest of the country. It is the largest Chinese administrative division, spanning over 640,000 square miles. Xinjiang is home to a number of ethnic groups, including the Uyghur, Han, Kazakhs, Hui, Tajiks, Mongols and Russians. Only about 9.7% of Xinjiang’s land area is fit for human habitation.

The region is rich with rivers and lakes and provides abundance of cheap power supplies.  Due to slower pace of economic development in the area, the local governments are more welcoming outside businesses to settle in Xinjiang.  Xinjiang is providing an alternative solution for Bitcoin miners who are not willing to relocate to other countries at this moment.

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