Main navigation

Hydropower Stations Now for Sale Amid China's Crackdown on Mining

News
Tue, 06/29/2021 - 06:12
article image
Alex Dovbnya
Chinese miners might have found a way to secretly mine Bitcoin despite the crackdown
Hydropower Stations Now for Sale Amid China's Crackdown on Mining
Cover image via stock.adobe.com
Read U.TODAY on
Google News

Second-hand hydroelectric power plants with installed capacity of roughly 50 megawatts are being actively sold in China following the government’s clampdown on the mining industry, South China Morning Post reports.

One seller claims that it’s possible to stealthily mine Bitcoin if you purchase one:   

You can secretly mine cryptocurrency if you buy a hydropower station.

Related
Bitcoin's Novelty Will Fade, According to Top Fed Official

Some ads published on local e-commerce platforms are reportedly unrelated to crypto.  

Earlier this month, Sichuan’s electricity companies were ordered to stop supplying power to mining operations despite the region's abundant hydropower.    

As reported by U.Today, Bitcoin’s hashrate has now dropped over 70 percent from its peak due to 90 percent of Chinese miners leaving the industry.

@u.today

Chinese miners might have found a way to secretly mine ##Bitcoin despite the crackdown ##BTC ##crypto ##cryptonews ##China ##cryptomining ##BTCmining

♬ original sound - U.Today
article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.