I realy cant say why they did this .... probably just an effort to keep control over people, not much of an economic sense...
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I realy cant say why they did this .... probably just an effort to keep control over people, not much of an economic sense...
A major reason for this has to do with the integration of the power grid in China. Now that the grid is more connected the miners are directly competing for power with other industries which the government does not want. Previously the miners were tapping into stranded power generation which would have been wasted otherwise. Some local government officials were also making money under the table off of selling electricity to mining farms and the central authorities are also cracking down on that.