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22 June 2021

Bitcoin miners using hydropower asked to continue in Sichuan

Bitcoin miners using hydropower asked to continue in Sichuan


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In May, Vice Premier Liu He and the State Council said they would soon crackdown on the trading and mining of cryptocurrencies in the country.

“[We will] crackdown on Bitcoin mining and trading behavior, and resolutely prevent the transmission of individual risks to the social field,” the officials said, with a drastic market sell-off ensuing hours later.

Separate reports also claim that illegal coal extraction—the energy source of most mining farms—resulted in a spike in electricity consumption from mining farms used for Bitcoin were behind the rising demand for coal in parts of China. 

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