On September 24, the National Development and Reform Commission and other departments on the rectification of virtual currency "mining" activities disclosed a notice (content published on September 3), requiring that in accordance with the general idea of "strict monitoring, strict prevention of risks, strictly prohibit the increase, properly deal with the stock", give full play to the various. The  main goal is to strengthen the supervision of the upstream and downstream industry chain of virtual currency "mining" activities, strictly prohibit new virtual currency "mining" projects, and accelerate the orderly withdrawal of stock projects.

Industry sources around the country revealed that a new nationwide inspection for virtual currency mining is being opened, and several provinces have asked for another in-depth inspection to avoid a "resurgence" and ensure that all equipment is dismantled and moved out. On the other hand, giant trading platforms have announced their collective withdrawal from the Chinese market.

At 16:00 on September 26, the price of bitcoin took a sharp turn for the worse, plunging nearly $2,000 in one hour. Panic in the virtual currency market was severe and there were clear signs of capital flight. However, by today, it seems to have bounced back.

It is worth noting that while multi-sector regulation points to cryptocurrency mining, overseas mining construction is in full swing. A number of overseas mines have announced expansions, with Bit Mining announcing a joint investment in the construction and operation of an 85MW capacity cryptocurrency mine in Ohio, USA; Genesis Digital Assets announcing it will expand its bitcoin mining operations; and the RHY platform announcing a global mining construction project.

These signals indicate that institutions are very bullish on the prospects of bitcoin mining. Some industry insiders say that the movement of cryptocurrency mining policies has a great impact on the cryptocurrency market, but it is an opportunity for companies that invest in mining. Since 2020, bitcoin has been maintained at $30,000 for a long time, while before that, bitcoin's coin price peaked at $18,000, and all miners have benefited massively from this.

For miners, momentary market fluctuations don't have a big impact on their profits, but the best opportunity is to lay out at this point in the long cycle of Bitcoin's development, and wait until the next market burst, when the price could come to $100,000. just as Bitcoin miners who started at $18,000 are now enjoying high returns, those who laid out at this point are waiting for the next market burst.

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