Beijing authorities require miners to report on energy consumption

The authorities of the capital of China are investigating the influence of miners on energy consumption in the city. To do this, any data center in Beijing, engaged in the extraction of cryptocurrencies, must report to the municipal department.

According to an “emergency letter” drawn up by the Beijing Municipal Bureau of Economics and Information Technology, data centers engaged in mining are required to report on the amount of energy consumed by mining, and the share of such energy in the total consumption of the data center.

According to a source in the Bureau, who wished to remain anonymous, such letters were sent to at least three of China’s largest telecommunications operators. At the same time, the reasons why the authorities are investigating this issue, it was difficult to name the source. He also does not know if the initiative is exclusively municipal, or such letters are received by operators and data centers throughout the country.

Note that recently in the Chinese province of Xinjiang there were massive power outages, which led to the shutdown of a large number of mining equipment. The hashrate of the Bitcoin network sank noticeably, and after it the BTC rate fell. The network hash rate has already recovered, but the bitcoin rate is only trying to return to previous levels.

According to Edward Lu, senior vice president of ASIC miner manufacturer Canaan, the company is increasingly serving customers in Canada, Northern Europe and Central Asia, as it is much easier to predict energy supply there, as well as more transparent regulation.

Recently, the founder of Blockcap mining company Darin Feinstein stated that the US state of Texas is the best region in the world for mining cryptocurrencies.