The government is taking action against growing electricity demand by shutting down local crypto mining operations in Chinas Anhui Province.
China continues to crack down on the crypto mining industry by suspending crypto mining operations. Authorities at Anhui province in eastern China have announced a set of steps taken to tackle growing electricity demand and an associated power supply shortage in the next three years.
As part of the efforts to control energy consumption the province plans to stop crypto mining projects and scrutinize new initiatives that require large amounts of energy consumption. Authorities also plan to adopt new practices order to optimize energy usage in the province.
Anhui province is known for being one of poorest provinces in China, and was only removed from the country’s official list of impoverished areas in 2020.The province’s power grid reportedly comprises mostly coal-based power plants in addition to wind- and solar-based plants several hydropower facilities.
Chinese crypto journalist Colin Wu reported Wednesday that China’s State Grid Corporation has issued a notice to all parts of the country requesting the closure of virtual currency mining. The news comes amid a major regulatory crackdown on crypto mining in China, following a series of similar bans in other Chinese provinces including Yunnan and Sichuan.
