Chinese crackdown on Bitcoin mining: 730% hike in fees

Author: Eamonn Sheridan | Category: News

I posted earlier in the week on the moves in China to heavily restrict (if not stop) bitcoin mining

  • Reports of a closed-door meeting at the PBOC last week
  • And then leaks to China Daily that the Bank will tell local governments to oversee an "orderly exit" of cryptocurrency miners
Post here Bitcoin - more on the PBOC moves to stamp out cryptocurrency mining

Now, today reports coming in from Chinese Bitcoin mining pool ViaBTC, It says it will raise fees for clients with S9 contract from 6% to 50%. The firm cites surging costa after regulators in China accelerated the crackdown on mining. (and earlier this week ViaBTC closed marketplace for mining contracts).

Update to the BTC price: