Hydro-Rich Chinese City Said to Clamp Down on Crypto Mining

The transcript discusses China's intensified crackdown on cryptocurrency mining, particularly in Sichuan, due to concerns over financial stability and environmental impact. The crackdown has significantly reduced China's mining capacity, which was once central to global operations. The government aims to maintain control over the financial system and address energy consumption issues, aligning with its carbon neutrality goals. The actions include banning crypto exchanges and searches, with broader implications for regions like Mongolia and Yunnan.

What is the significance of the city of Jan in the context of China's crypto mining crackdown?

What percentage of China's crypto mining capacity was reported to be taken out as of the weekend mentioned?