{"id":107354,"date":"2021-06-19T14:31:22","date_gmt":"2021-06-19T06:31:22","guid":{"rendered":"https:\/\/www.mediaintel.asia\/?p=427231"},"modified":"2021-06-19T14:31:22","modified_gmt":"2021-06-19T06:31:22","slug":"hydro-rich-chinese-city-is-said-to-clamp-down-on-crypto-mining-up-news-info","status":"publish","type":"post","link":"https:\/\/www.chinalegalblog.com\/en\/2021\/06\/19\/hydro-rich-chinese-city-is-said-to-clamp-down-on-crypto-mining-up-news-info\/","title":{"rendered":"Hydro-Rich Chinese City Is Said to Clamp Down on Crypto Mining Up News Info"},"content":{"rendered":"
\"MediaIntel.Asia\"<\/a><\/div>\n

Article content (Bloomberg) \u2014 A Chinese city with abundant hydropower is said to have begun a sweeping clampdown on crypto mining firms this week, following an earlier ban from the central government on such activities.
\nAt least one Bitcoin miner was told by an official with the Ya\u2019an city government that the city promised the provincial authorities it would root out all Bitcoin and Ether mining operations within one year, said a person with knowledge of the situation.
\nAuthorities of Ya\u2019an in the southwestern province of Sichuan pledged at a Thursday meeting to screen and \u201crectify\u201d all Bitcoin mining firms within its jurisdiction, blockchain news platform PANews reported. Some miners were notified by their power suppliers that all power plants in their area will be closed until further notice for \u201cself-inspections,\u201d according to the report.
\nA person who answered a Ya\u2019an government media-inquiry line said he is not aware of the matter.
\nThe clampdown appears to be widening across the province. Power companies owned by the central and provincial governments in Sichuan must immediately stop supplying electricity to crypto mining projects, China Business News reported Friday, citing a notice issued by the province\u2019s economic planning agency and energy administration.
\nArticle content State Grid Sichuan Electric Power Company has reported 26 suspected crypto mining projects to the government, according to the report. It added that city-level governments have been asked to start checks in their areas and shut down all such projects that are found.
\nThe development added to a long list of actions taken in China recently to rein in the cryptocurrency industry. Inner Mongolia vowed earlier this year to shut all crypto mining projects by April, and the State Council called for a crackdown on Bitcoin mining and trading last month. Yunnan province started a probe last week into illegal electricity use by Bitcoin mining companies, Cailian reported.
\nAbout 65% of the world\u2019s Bitcoin mining took place in China as of April 2020, according to an estimate by the University of Cambridge. Sichuan province, with its rich hydro resources, has always been one of the prime destinations for domestic Bitcoin miners who consider power supply and cost key. Ya\u2019an accounted for about 10% of all computing power deployed in Sichuan for Bitcoin mining, according to the PANews report.
\n\u00a92021 Bloomberg L.P.
\nBloomberg.com<\/p>\n

This data comes from MediaIntel.Asia's Media Intelligence and Media Monitoring Platform<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Article content (Bloomberg) \u2014 A Chinese city with abundant hydropower is said to have begun a sweeping clampdown on crypto mining firms this week, following an earlier ban from the central government on such activities.
\nAt least one Bitcoin miner was …<\/p>\n","protected":false},"author":253,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[144,1527,586,325,194,43,334],"tags":[5567,7705,3686,6601,3472,10333,6823,10437,10438,2992,2709],"class_list":["post-107354","post","type-post","status-publish","format-standard","hentry","category-china","category-currency","category-economy","category-education","category-news-chinese-law","category-state-council","category-university","tag-bitcoin","tag-blockchain","tag-boycott","tag-china-technology","tag-chinese","tag-crypto","tag-fintech","tag-inner-mongolia","tag-mongolia","tag-sichuan","tag-yunnan"],"_links":{"self":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/107354","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/users\/253"}],"replies":[{"embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/comments?post=107354"}],"version-history":[{"count":1,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/107354\/revisions"}],"predecessor-version":[{"id":107355,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/107354\/revisions\/107355"}],"wp:attachment":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/media?parent=107354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/categories?post=107354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/tags?post=107354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}