Hydropower Stations Up for Sale Amid China’s Crackdown on Crypto Mining
Small hydropower plants have been put up for sale in China as demand for their cheap energy decreases following the government’s crackdown on crypto miners. Just as with mining rigs, their prices have been going down, leaving owners with limited options to recoup their investments. Ads for Hydropower Plants Appear on Xianyu Marketplace Advertisements for small-scale hydroelectric power plants have been placed recently on the online marketplace Xianyu, the South China Morning Post reported. The ‘second-hand’ installations come with a capacity of around 50 megawatts. The....
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This China Business News article about hydropower stations will blow your mind. It contains revelation after revelation and clears the situation up. Now that Bitcoin mining is prohibited, who’s consuming that energy? How has the government decision affected private enterprises? Well, you’re not going to believe this. It all started with this tweet by Chinese […]
After the given deadline, the Yingjiang County reportedly plans to “forcibly dismantle” power supply to Bitcoin mining establishments within its jurisdiction. Regulators from Yingjiang County in Yunnan, China have issued strict warnings to hydroelectric plants against supplying power to enterprises involved in Bitcoin (BTC) mining. A recent report claimed that the Office of the People's Government of Yingjiang County issued notice to hydropower plants to strengthen oversight on Bitcoin mining operations. According to the announcement, the power plants have been given till Aug. 24 to delist....
Ethereum is the most recent asset caught in the path of the bulldozing machine that is China’s crackdown on crypto and crypto-related activities. When the country had begun to crackdown on mining earlier in the year, much focus had been placed on bitcoin given that it was the most popular cryptocurrency in the market. And […]
Crypto miners in Ya'an City have reportedly been ordered to temporarily shut down their operations. Chinese authorities continue to crack down on cryptocurrency mining as a city in Sichuan province has reportedly halted local Bitcoin (BTC) mining farms.Authorities in Ya’an City, a prefecture-level city in the western part of Sichuan province, have ordered local Bitcoin mining operations to shut down for examination, Chinese financial publication Sina Finance reported Friday.Citing an anonymous source from Chinese news agency PA News, the report said that it is unclear when or whether....
Advertisements for small-scale hydro plants have reportedly surged on Chinese secondhand e-commerce platforms. Small-scale hydroelectric plants in China are reportedly looking for new customers as crypto miners go abroad amid a nationwide crackdown on mining activity.According to the South China Morning Post (SCMP), advertisements for small-scale hydro plants with 50-megawatt capacity have surged on Chinese secondhand e-commerce platforms such as Xianyu. According to the SCMP, some sellers claimed that their listings were unrelated to the cryptocurrency mining industry, while others said....