The Sichuan regulatory office of China’s National Energy Administration will hold a virtual symposium on June 2 in Chengdu to discuss the implications of shutting down Bitcoin mining in the province.
Together with the heads of state-run energy entities, the regulators will assess how a potential ban will affect Sichuan's hydropower excess.
Sichuan is known as a major Bitcoin mining hub because of its cheap power. Last August, excessive flooding in the region caused a 25 percent drop in the cryptocurrency's hashrate.
Vladislav SopovThis week, Inner Mongolia published its detailed plan to clamp down on Bitcoin mining to reduce its carbon footprint.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Yuri Molchan
Tomiwabold Olajide
Dan Burgin
Vladislav Sopov