The Anhui province of the country was added to the bans that China initiated against cryptocurrency miners in May. Aiming to reduce power consumption due to power cuts in the region, the state government has decided to close all cryptocurrency mining facilities.
Anhui was the last province in China to announce that it will close its mining facilities. In the statement made by the state administration, it was stated that if the crypto currency mining facilities were closed, the power outages for the next 3 years would largely end.
The first target is cryptocurrency miners in China
Although the Anhui region is not a prominent region in terms of mining, even this step is the biggest proof that there is still great pressure against such activities in the country. As a result of the series of bans that started in May, mining activities had largely come to an end, especially in Inner Mongolia, Xinjiang and Sichuan regions. The cessation of mining activities was surprising, especially in the Sichuan region, where fossil fuel energy is scarce. Before all these operations, China was the center of about 60 percent of Bitcoin mining.
Less consumption of electricity will also be encouraged.
According to reports in the Chinese media, the current electricity production of the Anhui region is 48.4 million kilowatts, but this figure is expected to rise to 73.14 million kilowatts by 2024. In order to close this big gap, crypto currency developers are currently being targeted. The state also stated that price incentive programs will be prepared to help people consume less electricity, as well as to close cryptocurrency mining facilities.
Iran banned it for the same reason.
As it will be remembered, Iran also banned cryptocurrency mining activities in the country until September 22, due to the power outages that loomed in the country in May.