There is a successful bitcoin mining operation in Yunnan Province operating under China’s cryptocurrency ban. Yunnan Province is nearby the Burma & China border and known for their large number of ethnic minorities and beautiful landscapes. Brian Su, CEO of Blockchain China Connect, recently met the bitcoin miners who were unwilling to disclose their specific location due to the intense legal scrutiny.
The local government in Yunnan Province has a rich power supply due to their large hydro-electric dams with the rates averaging 26 cents RMB. This mining operation was relocated from Northern China due to the regulating business environment. This is a trend we are seeing by large miners who are moving outside of large cities to 3rd and 4th tier cities. China’s Central Government really discourages bitcoin mining operations due to their large amounts of energy consumption and their recent public ban on cryptocurrency in September 2017.