© Reuters. A representation of the virtual cryptocurrency Bitcoin is seen in this picture illustration taken June 14, 2021. REUTERS/Edgar Su/Illustration

TOKYO (Reuters) – Cryptocurrencies tumbled on Monday as China’s crackdown on bitcoin mining expanded to the province of Sichuan.

fell to as low as $32,288 for the first time since June 8, and was last down 7.9% at around $32,781.

Smaller rival ether dropped below $2,000 for the first time since May 23, before trading 10% lower at 2019.01.

Cryptomining is big business in China, accounting for more than half of global bitcoin production.

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