The province of Sichuan is well known for being one of the largest concentrations of bitcoin miners on earth because electrical costs are extremely cheap in the region. Data shows that miners using hydropower in Sichuan are paying between 0.065-0.075 yuan or $0.01 per kilowatt-hour. According to regional reports, a number of enterprises that mine […]
The post Sichuan Officials Continue to Foster the Relationship Between Bitcoin Mining and Hydropower appeared first on Bitcoin News.
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The local government of Ya’an city, in China’s Sichuan province, has announced the region is encouraging bitcoin mining in Sichuan if operations leverage the local hydropower plants. The document released by Ya’an city officials is in stark contrast to how Sichuan lawmakers felt about mining in 2018. Back then the government and China’s central bank […]
Regional authorities in the province of Sichuan are reportedly pressuring bitcoin miners to scale down operations amid electricity shortages during the dry season in Southwest China. A meeting has been scheduled with regulators, the state run grid operator and mining companies. Two hydropower stations have been fined already for powering bitcoin farms without authorization. Also […]
We are often told that the verification of bitcoin transactions eats a lot of energy. The largely inaccurate comparison to a small country, the size of Ireland or Denmark, is evoked thanks to numerous clickbait headlines. What mainstream media fails to explain, however, is that bitcoin mining is actually helping electricity producers prevent energy waste. […]
A common mainstream media trope is that Bitcoin mining will soon use so much electrical power it could lead to an environmental catastrophe. We’ve often provided examples of how this is a false narrative, and now an independent energy researcher is saying the same. She points to miners migrating to locations with abundant renewable energy […]
Typically when people think of bitcoin mining operations they look to countries like Iceland and mainland China. However, most people do not know that the small country of Georgia, a region of Eurasia, is ranked the second most profitable area in the world for cryptocurrency mining just below China. Also read: Russian Regulators Draft Law to […]
The state of New York may be a difficult place to set up a mining venture in the region as lawmakers have ruled that power companies can raise their electricity rates if miners choose to use the state’s hydropower. Also Read: From ‘Attack’ to ‘Optimization’ — Slush Pool Reveals ASIC Boost Compatibility Charging Higher Electricity Rates […]
Just recently in an interview with Québec’s local publication, Le Journal, the CEO of the public utility company Hydro-Québec wants to attract cryptocurrency miners to the region to help bolster economic prosperity. Also Read: Chinese Bitcoin Miners Explore Relocating Abroad Amid Fears of Crackdown Hydro-Québec Needs a Solution to Avoid Energy Tariffs Hydro-Québec is a large […]