Connect with us

News

Cryptocurrency mining completely eradicated in China

Published

on

Anhui became the last Chinese province to announce a complete ban on cryptocurrency mining. The provincial government said the move would help alleviate severe power shortages over the next three years.

According to Focus, mining of cryptocurrency is now completely banned in China. In the coming days, all cryptomining farms will be phased out in the province. Anhui Province, located in eastern China, is just three hours from Shanghai by high speed train.

Hefei Media Group reports that in three years, Anhui’s electricity demand will increase and reach 73.14 million kWh, and today the province is able to provide 48.4 million kWh. If mining is not banned, then a real energy crisis will come.

About a month ago, the fight against cryptocurrency mining in China spread to the southwestern province of Sichuan, where authorities ordered the closure of large crypto farms. Similar measures were taken by the authorities of Inner Mongolia, Qinghai, Xinjiang and other provinces.

Provincial authorities cite concerns about energy-intensive industries and environmental pollution. Chinese bitcoin miners use coal and hydroelectricity depending on the season. It is the use of coal that has caught the attention of the government, which is seeking to reduce its carbon footprint.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

Latest News

Phones25 mins ago

IP68, 5G, 48 MP, 4630 mAh and the prospect of upgrading to Android 14. Nokia XR20 rugged smartphone presented

HMD Global has officially unveiled the rugged Nokia XR20 smartphone. The novelty is protected in accordance with the American military...

Software57 mins ago

Android 12 beta 3.1 is out to fix three big Android 12 issues

Despite the fact that Android 12 has already grown to the third beta version, it does not differ at all...

Software1 hour ago

13,200 mAh, NFC, IP69K, 48 MP and Android 11 for $ 300. The unkillable monster of autonomy Ulefone Power Armor 13 began selling

Ulefone announced the start of sales of its new smartphone – Power Armor 13. The peculiarity of this model is...

Electric Cars2 hours ago

Tesla published its report for the second quarter of 2021

Tesla has published a report for the second quarter of 2021. Revenue for the last quarter was $ 11.958 billion....

News3 hours ago

Amazon Denies Message That It Plans To Accept Bitcoin

E-commerce giant Amazon.com has denied media reports that it intends to start accepting payments in Bitcoin before the end of...

News4 hours ago

EU gives Google two months to change search results for hotels and flights

Search giant Google has two months to “improve” the way it presents its search results on the Internet by flight...

News4 hours ago

Intel renames manufacturing processes

Intel has decided to amend the naming of its technical processes in accordance with the advanced technological standards. More precisely,...

Components6 hours ago

Apple dominates tablet processor market with 59% share

Although the second quarter of 2021 has already ended, experts from the analytical company Strategy Analytics have just summed up...

Advertisement

Most Popular