This post is from a low-reputation account and contains an unverified outbound link. Be cautious before clicking external links.
What’s happening is Chinese power companies have been supplying huge mining operations with cut rate power costs because the power companies are producing more power that they are selling. So they are essentially giving the “extra” power to these huge mining operations for super cheap. Now they will all have to pay the regular rates.
https://cointelegraph.com/news/breaking-china-may-cut-off-cheap-power-to-bitcoin-miners