In recent days a number of conflicting reports have surfaced pertaining to the stance of China’s government with regards to bitcoin mining.
Last week, Bloomberg reported that the People’s Bank of China (PBOC) had met to discuss curbing mining operations in China, whilst Chinese media reports denied such – however, it has since emerged that the local government of Xinjiang province has mandated an “orderly exit” of its bitcoin mining industry.
Despite widespread speculation that the long-feared Chinese crackdown on cryptocurrency mining may have begun, the establishment of international facilities on the part of leading mining pools has led to analysts predicting that much of the bitcoin mining industry will be able to weather a Chinese regulatory crackdown.