Asia, bitcoin legal in china, China Bitcoin, China Miners, China Mining, chinese crypto law, crypto mining, datacenter

Authorities in Beijing have been conducting checks on cryptocurrency mining datacenters to assess and understand its energy consumption and thus the impact on the electric infrastructure. Although it was reported as a rumor by international media outlets, Chinese state media confirmed it.

Authorities Sent an ‘Emergency Note’ to Three Biggest Telecom Operators

As first reported by Reuters, the Beijing Municipal Bureau of Economy and Information Technology was the entity that ordered the checks on the city’s data centers.

In the first instance, they wanted to verify if these companies are involved in bitcoin (BTC) and other cryptocurrency mining businesses by sending an “Emergency Notice Concerning the Data Center Involving Bitcoin and Other Cryptocurrency Mining Businesses in Our City’s Data Centers.â€

According to an unnamed source cited by Reuters, the notice also targeted three of the biggest telecommunications operators in China.

The measure took place on Tuesday, and then state media Pengpai confirmed the news on Thursday. Furthermore, the bureau wants to get reports on the amount of power consumed and share by crypto asset mining.

Although the information specifies that the notice was issued in Beijing, there is no official confirmation on whether the checks are being conducted across the country or not.

Was China’s Carbon Neutral Stance One of the Reasons Behind the Checks?

Also, there are not more details on the reasons that drove Beijing authorities to conduct such checks.

However, Reuters suggests the measure could come in the wake of the latest shut down of digital currency mining projects in the Chinese region of Inner Mongolia, as the country seeks to improve energy efficiency.

Moreover, as Bitcoin.com reported recently, China’s carbon-neutral stance adds weight to bitcoin miners’ backs. Following a recent hashrate drop in the province of Xinjiang, a regional report notes that people leveraging electricity in Sichuan may see an electrical cost increase.

In fact, a local financial columnist said that Sichuan electricity powered by carbon materials will increase by 150% this year adding to the demand for renewable hydro power.

What are your thoughts on the measure taken by the Beijing government? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Du lịch nhật bản, hướng dẫn du lịch Nhật và đánh giá địa điểm Nhật Bản Japan travel news, japan travel guides, japan holiday destinations and japan reviews

RELATED NEWS

Alternative Mining Algorithms Reap Higher Profits Than Bitcoin Mining in 2021

Cryptocurrencies have jumped quite a bit in value over the course of the year and miners who verify transactions and earn digital assets have seen significant profits. While bitcoin miners have been seeing daily profits rise, a great number of other mineable digital currencies are pulling in much larger yields. Blake256R14 and Ethash Machines Pull […]

Xem chi tiết: Alternative Mining Algorithms Reap Higher Profits Than Bitcoin Mining in 2021

Alternative Mining Algorithms Reap Higher Profits Than Bitcoin Mining in 2021

Cryptocurrencies have jumped quite a bit in value over the course of the year and miners who verify transactions and earn digital assets have seen significant profits. While bitcoin miners have been seeing daily profits rise, a great number of other mineable digital currencies are pulling in much larger yields. Blake256R14 and Ethash Machines Pull […]

Xem chi tiết: Alternative Mining Algorithms Reap Higher Profits Than Bitcoin Mining in 2021

Home Crypto Mining Spikes in Brazil Amid Record High Unemployment

With rising unemployment rates and rampant economic uncertainty, in the wake of the Covid crisis, a growing number of Brazilians are finding an alternative income source in cryptocurrency mining. GPU rigs have been spotted even in favelas as a relatively small investment can return more than the average salary in Brazil. Pandemic and Uncertainty Turn […]

Xem chi tiết: Home Crypto Mining Spikes in Brazil Amid Record High Unemployment

Home Crypto Mining Spikes in Brazil Amid Record High Unemployment

With rising unemployment rates and rampant economic uncertainty, in the wake of the Covid crisis, a growing number of Brazilians are finding an alternative income source in cryptocurrency mining. GPU rigs have been spotted even in favelas as a relatively small investment can return more than the average salary in Brazil. Pandemic and Uncertainty Turn […]

Xem chi tiết: Home Crypto Mining Spikes in Brazil Amid Record High Unemployment

Sichuan Energy Officials Plan to Meet in June to Discuss Bitcoin Mining Implications

Ever since government officials in China started talking about cracking down on bitcoin mining and reiterating crypto guidelines from 2017, digital currency proponents and the media have been focused on this region. Just recently, a Chinese state-backed online publication revealed that the Sichuan Energy Regulatory Office plans to hold a meeting on June 2, 2021, […]

Xem chi tiết: Sichuan Energy Officials Plan to Meet in June to Discuss Bitcoin Mining Implications

Kyrgyzstan Seizes 2,000 Cryptocurrency Mining Devices

Law enforcement authorities in Kyrgyzstan have confiscated thousands of crypto mining machines as part of a new offensive against illegal cryptocurrency mining in the country. Investigators have also identified industrial enterprises that have been supplying the bitcoin farms with electricity. Security Service Conducts Operation Against Illegal Mining in Kyrgyzstan The State Committee for National Security […]

Xem chi tiết: Kyrgyzstan Seizes 2,000 Cryptocurrency Mining Devices

Kyrgyzstan Seizes 2,000 Cryptocurrency Mining Devices

Law enforcement authorities in Kyrgyzstan have confiscated thousands of crypto mining machines as part of a new offensive against illegal cryptocurrency mining in the country. Investigators have also identified industrial enterprises that have been supplying the bitcoin farms with electricity. Security Service Conducts Operation Against Illegal Mining in Kyrgyzstan The State Committee for National Security […]

Xem chi tiết: Kyrgyzstan Seizes 2,000 Cryptocurrency Mining Devices

Nvidia Makes $155 Million From Crypto Mining Chips in Fiscal Q1

Graphics cards manufacturer Nvidia has earned $155 million in revenue from chips designed for cryptocurrency mining during the first fiscal quarter. The company admitted that crypto miners have also pushed sales up in the gaming products segment which remains its main market. Leading GPU Maker Reports Record High Video Card Sales Supported by Crypto Miners […]

Xem chi tiết: Nvidia Makes $155 Million From Crypto Mining Chips in Fiscal Q1

Cryptocurrency Mining Banned in Iran as Blackouts and Power Shortages Intensify

Executives from China’s Largest Bitcoin Mining Firms Speak About Regulatory Crackdown

Chinese Firm Bit Mining Invests $9M to Build 100 Megawatt Bitcoin Farm in Kazakhstan

‘Reiterated FUD’ – Chinese Government to Continue Monitoring Bitcoin Mining Sector

South Korean Governor Becomes the First Politician to Disclose Publicly His Cryptocurrency Holdings in the Country

‘Reiterated FUD’ – Chinese Government to Continue Monitoring Bitcoin Mining Sector

South Korean Deputy Prime Minister Eases Anti-Crypto Rhetoric, Aims to Create More Domestic Market Opportunities

Chinese Internet Cafe Owners Deal With the Pandemic Crisis by Using Their Facilities to Mine Cryptocurrencies

Other Articles