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China Declares War on BitcoinNew research shows that China's Bitcoin ban has sent the process of creating new coins, known as mining, to countries where it uses far less. The authorities urged local governments in Sichuan to start combing for cryptomining projects and shut them down. It banned new projects. Other. At its peak in Sept China accounted for over three quarters of all Bitcoin mining. China's crackdown initially led to a 38% fall in mining globally CBECI said.
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