Due to the regulations in China about crypto mining, the government hands are on deck on this issue, as the regulators in Anhui province shutting down local crypto mining operations as a result of growing electricity demand.
Theis continued crackdown by the Chinese government on cryptocurrency mining by stopping its operations is yet in another province.
According to local news source Hefei Online, authorities in Anhui, a tiny province in eastern China, have announced a set of steps to address rising electricity consumption and a resulting power supply constraint over the next three years.
Anhui plans to shut down crypto mining projects and investigate new ventures that need huge levels of energy use as part of its attempts to reduce energy consumption. In order to optimize energy usage in the province, local officials also want to implement new techniques for developing data centres and support power price reform.
China’s Anhui province was formerly one of the country’s poorest, and it was only removed from the country’s official list of disadvantaged areas in 2020.
Anhui is the country’s eighth-largest province in terms of population. According to reports, the province’s electricity grid consists primarily of coal-fired power plants, with a few hydropower facilities, as well as wind and solar-powered plants.
The announcement comes amid a significant regulatory crackdown on crypto mining in China, which follows a series of similar restrictions in other Chinese provinces like Yunnan and Sichuan, which is home to one of the country’s largest hydropower-based mining centres.
In recent months, authorities in Xinjiang, Inner Mongolia, and Qinghai have also forced mining enterprises to close.