Anhui is reportedly China’s newest region planning to end cryptocurrency mining. The province will shut down all mining facilities due to power shortages, according to local media. Another source revealed that the state network operator has issued a closure notice for bitcoin farms across the country.
Anhui stops bitcoin mining amid power shortages
Eastern Anhui Province has joined a long list of Chinese regions where cryptocurrency miners are no longer welcome. According to media reports, provincial authorities want to shut down mining facilities and also prevent new energy-intensive projects to remedy the power deficit in the province.
According to a local news portal run by the government-affiliated Hefei Media Group, quoted by Reuters and Bloomberg, plans to close all crypto-mining farms in order to address a serious electricity shortage over the next three years. According to the report, data centers will be built in the future, but in an orderly fashion.
Officials estimate that Anhui’s electricity demand will reach 73.14 million kilowatts in 2024. This compares to the current 48.4 million kilowatts supply, suggesting a growing void that the local government intends to fill. In addition to banning crypto mining, the province is also preparing to adjust electricity prices to encourage more economical electricity consumption.
State Grid Corporation of China publishes notice of closure of crypto mining
Global Times, an English language newspaper under the People’s Daily, too divided the news on twitter. The state publication added, “So far, nearly 90% of #Chinese #bitcoin mining capacity has been shut down.” While Anhui is not a coinage hotspot, his move underscores the continued crackdown in the country, which already has mining centers like Sichuan, Xinjiang, Qinghai, Yunnan and Inner Mongolia.
Chinese crypto journalist Colin Wu, also known as “Wu Blockchain”, tweeted on Wednesday that the State Grid Corporation of China (SGCC) issued a shutdown notice for cryptocurrency mining operations across the People’s Republic. The measure affects “all parts of the country” and the contribution in detail:
Currently, some provinces with insufficient power in China, such as Henan and Anhui, have also started to implement them.
Wu Blockchain later announced that Gansu, a province in northwest China, had also received the notification from the SGCC. The network operator “manages the vast majority of China’s electricity, but this notification appears to be formal,” said the journalist in a commentary on the latest developments in China’s ailing crypto mining industry.
What do you think of this latest episode of China’s crackdown on cryptocurrency mining? Do share your thoughts on the matter in the comments below.
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