China plans to kill most of the world’s bitcoin mining operations

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The price could spike again.

The Chinese government will end bitcoin mining operations in the coming months, Bloomberg reported over this January, a move that could have a massive impact on the price of the world’s biggest digital currency.

China has been a central player in the development of bitcoin in recent years, but Beijing has spent the last six months cracking down on the cryptocurrency industry — shutting down local exchanges and banning initial coin offerings.

Leaked documents suggest the Chinese government plans an “orderly exit” for bitcoin mining operations in the coming weeks and months.

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