One of the biggest stories across the globe at the moment is the outbreak of the coronavirus from Wuhan in China. As more cases of the virus are confirmed in different parts of the world, hysteria is reaching fever pitch and many across the globe are taking as many precautions as possible in order to prevent been infected with a virus that has claimed hundreds of lives at this point. This includes people wearing facemasks, washing hands, avoiding contact with people in public spaces and so on. However, many are going as far as avoiding certain public spaces altogether to avoid being infected with the virus.
This has come to affect the crypto industry within China as it was reported that a crypto mining farm has been forced to close its operations due to the outbreak of the virus.
Outbreak and Precautions
The news of the crypto mining farm shutting down came from BTC.top CEO Jiang Zhuoer who stated that a mining farm that he owns has been forced to shut down operations due to the virus. According to a social media post from February 4, 2020, the government has informed him that his workers can not come into work due to the virus outbreak. According to him, his workers had not left the area before the quarantine and are unlikely to be infected. However, the government order must be adhered to.
Ironically enough, even though China has a ban in place on cryptocurrency, they are one of the biggest hubs for crypto mining in the world. However, the crypto mining industry within China has faced significant challenges over the last few months. This includes crackdowns on crypto mining facilities within Mongolia and the seizure of hundreds of crypto mining equipment. It is not known how the mining industry will evolve following the launch of China’s national digital token as well as the increase in blockchain technology use as advocated by their president. While the rest of the world waits for the coronavirus outbreak to be fully contained, the crypto industry’s challenges within China are far from over.