China: Crypto Mining Shut Down In Anhui Province

The Chinese government has not yet stopped cracking down on cryptocurrency mining. It is still suspending crypto mining operations in different provinces. Anhui is a small province in the eastern region of China. The authorities there have announced a set of rules, regulations, and measures to solve the problem of growing electricity demand and a comparatively more power supply shortage in the next three coming years. This was reported by Hefei Online, a local news agency.

Anhui is adding a lot of effort lately to curb energy consumption in the country. This is why it has planned to shut down crypto mining projects. It is also examining new initiatives that have large amounts of energy consumption requirements. Even local authorities are making plans to optimize energy usage in the province. They will be adopting new practices and measures for not only building data centers but also promoting the reform of electricity prices.

The Anhui province in China is the eighth largest province in the country in terms of population. However, once upon a time this province was well known for being one of China’s poorest provinces. It is not in China’s official list of poverty-stricken areas in 2020 anymore. Several power plants present in the province mostly include coal-based power plants, hydropower facilities, and some wind- and solar-based plants.

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Moreover, some recent reports state that this regulatory crackdown in the Anhui province is a new part of a broader country-wide initiative. The initiative aims at shutting down every crypto mining operation across the country. Colin Wu is a Chinese crypto journalist. He reported on Wednesday that China’s State Grid Corporation has given notice to every part of the country. It is asking for the closure of virtual currency mining. He also added in his statement, “At present, some provinces with insufficient power in China, such as Henan and Anhui, have also begun to implement it.”

This latest news has come at the time of a major regulatory crackdown on crypto mining in China. Moreover, there was a series of similar bans in different Chinese provinces. It also included Yunnan and Sichuan, the country’s biggest hydropower-based mining hubs. Further, the local authorities in Xinjiang, Inner Mongolia, and Qinghai have also ordered to shutter the mining operations in a few months.