Sichuan To Investigate Bitcoin Mine Energy Consumption

The state will reflect previous studies of energy use by miners in Inner Mongolia and Beijing. According to a Reuters report, Chinese energy regulators in Sichuan have announced plans to obtain information about energy consumption for Bitcoin mining from local energy companies in the region. Collecting this information could potentially lead to "a pressure on the second largest bitcoin production center," according to the report. This is in line with the decision of the central government of the Asian country to decisively engage in bitcoin mining and related activities. Various regions of the country have begun to eliminate bitcoin mining activities from their sites. "Inner Mongolia has expressed its willingness to destroy the company," the report said. Due to this level of hostility towards the industry, many bitcoin mining centers started moving most of their mining activities to North America and Central Asia. Interestingly, an official from the National Energy Administration's Sichuan Energy Regulatory Bureau stated that the state was not alone in collecting information on energy consumption. However, it also refused to provide additional information on whether the county is considering banning Bitcoin mining. Mining is a popular industry tasked with producing new bitcoin units. The industry relies on the use of high-performance computers and focuses on solving math problems in a power-intensive process. "The Power of Bitcoin: The Energy of a Coin" and "Bitcoin's Environmental Impact Comparison with Gold and the Bank's Environmental Impact", bitcoin is our World. Research on China's energy consumption proves that Chinese authorities do not yet understand bitcoin's impact on the energy incentive system.

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