Inner Mongolia has closed 49 cryptocurrency mining farms in total, but only four since September, according to the Inner Mongolia Daily, indicating either the process has been successful or the shutdown drive mandated by Beijing is slowing.

See related article: Beijing banned crypto mining, so China miners went underground

Fast facts

  • Miners are still operating secretly in China, either scattered in rural areas or leveraging relationships with local governments to conceal their mining sites.
  • Bitcoin’s price has been hovering around $30,000 for a month and just hit a 16-month low of $25,000 on Monday, according to CoinGecko.

See related article: Crypto mining’s Great Migration continues — out of Kazakhstan