Sichuan To Probe Bitcoin Mining Energy Use
The province is set to mirror previous investigations in Inner Mongolia and Beijing into the energy usage of miners.Chinese energy regulators in Sichuan have revealed their plan to obtain information regarding energy use for bitcoin mining from local power companies in the area per a Reuters report. According to the report, the collection of this information may possibly result in “a clampdown in the second-biggest bitcoin production hub.”This is in line with an earlier decision made by the central government of the Asian country to deal decisively with bitcoin mining and related....
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Ever since government officials in China started talking about cracking down on bitcoin mining and reiterating crypto guidelines from 2017, digital currency proponents and the media have been focused on this region. Just recently, a Chinese state-backed online publication revealed that the Sichuan Energy Regulatory Office plans to hold a meeting on June 2, 2021, to discuss the implications of bitcoin mining. Sichuan Energy Regulatory Office to Meet on June 2 to Discuss Crypto Mining In recent times, the Chinese government has been discussing the crypto economy to a greater degree and much....
According to regional reports, bitcoin miners in Sichuan have been told by the Ya’an municipal government that they have until June 25 to shut down operations. Sichuan has been eyed closely in recent times as it’s estimated that a large demographic of miners are situated in the region. Sichuan Ya’an Energy Bureau Tells Bitcoin Miners to Close Shop Sichuan power plants have been told to stop servicing bitcoin miners in the area according to reports stemming from the Ya’an municipal government. The regional publication Panews was told by an “insider” that....
China is a primary driving force in Bitcoin due to its large market share in trading and mining. CoinTelegraph spoke to HaoBTC CMO, Eric Mu, who described what it’s like to work in a newly built bitcoin mine located in the beautiful and rugged mountains of China’s Sichuan region. HaoBTC is headquartered in Beijing, and has a mining subsidiary located in Sichuan. It previously hosted the majority of its miners in two mines in Mabian and Meishan, but has since relocated to a new facility in Kangding, Sichuan, due to the region’s favorable climate and low electricity costs. Located next to a....
China’s province of Sichuan is known for its spicy food flavors. Now, though, it’s becoming known as something else: a bitcoin mining capital. It was in 2013 that China was first thought to have discovered bitcoin and since then the country has been making up for lost time in mining the digital currency. What, though, has that got to do with the province of Sichuan? Well, according to the China Money Network, since 2015, over 30 percent of China’s bitcoin mining machines have been purchased from the Sichuan province. Considering that around 70 percent of bitcoin’s global computational....
Sichuan, a province of China, is transforming into a global Bitcoin mining capital primarily due to its cheap electricity, low population density and cold climate. China’s southwestern provinces, such as Sichuan, are seeing an exponential growth of Bitcoin mining facilities and centers as companies continue to search for mountainous regions with high altitude to cool down mining equipment without allocating additional resources. According to major local publications, including the China Money Network, more than 20 mining companies and 10,000 Bitcoin miners are located within Sichuan’s....