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13 May 2021

Why The Chinese Government Started Mining Bitcoin (BTC)

Why The Chinese Government Started Mining Bitcoin (BTC)


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Reporter Colin Wu shared news published by Chinese state media PengPai related to Bitcoin mining activities by the national government.

The state media confirmed a rumor on the Beijing government’s collection data center being used in BTC mining activities.

PengPai quotes Yu Jianing, rotating Chairman of the Blockchain Special Committee of China, to claim that the country’s environmental requirements could lead to crypto mining being more “strictly regulated”.

The state media claims Bitcoin mining and the equipment required “consume a lot of electricity to run”.

An investigation published in Nature Communications, conducted by the Chinese Academy of Sciences and Tsinghua University, claims that BTC mining activities in China will peak at 296.59 TWh.

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