Chinese officials from Ya’an in Sichuan have come out in support of using locally produced hydropower (renewable energy) for cryptocurrency mining operations.
On April 20 the Municipal Economic and Information Bureau and the Municipal Development and Reform Commission of Ya’an in announced on local crypto mining implementation.
🇨🇳The Yaan Municipal People's Government issues "Implementing Opinions on the Construction of Demonstration Energy Consumption Zones to Support the Development of the Blockchain Industry."https://t.co/Awpf0ymMg4#china #crypto #mining #btc #bitcoin #cryptonews — CCnews24 (@CCnews24) April 28, 2020
The officials promotes on the consumption of hydropower-generated electricity for mining operations.
The document stated that the municipality will build a “hydropower consumption demonstration zone” and “big data industry gathering area.” Officials believe the province will thus attract investment and development in blockchain companies.
China, known to be a major player in the cryptocurrency mining industry, According to a report released at the end of 2019, Chinese Bitcoin miners were at the time responsible for as much as 66% of the global hash rate, with 54% coming from the province of Sichuan.
China's bitcoin miners scoop up greater production power (66%). https://t.co/VYZrmB735a — Jan Nieuwenhuijs (@JanGold_) December 12, 2019
Source: Cointelegraph | Pexels