The authorities of the Chinese province of Sichuan have ordered local miners to prepare for the cessation of activities by September 2021. This is reported by SCMP with reference to industry resources.
The decision follows a meeting between officials and industry representatives in early June. According to media reports, the seminar with bitcoin miners, organized by the regulator and the local branch of the national power grid company, was held in a friendly atmosphere without the adoption of resolutions.
Recently, the authorities of several regions of China, including Inner Mongolia and Xinjiang, have introduced restrictive measures against mining, up to a complete ban, as in Qinghai province.
The Hong Kong newspaper noted that in these cases it is about powering the equipment mainly from the resources of coal generation, and in Sichuan, miners consume surplus hydropower.
Its amount is sufficient to support the operation of existing farms, according to industry representatives.
“During a period of high consumption [летом] the volume of generated electricity will triple, and consumption for air conditioning in hot weather will only increase by 30%, ”said Jiang Zhuer, founder of the BTC.TOP mining pool.
Chinese miners have traditionally migrated to Sichuan during the “high water” period, which usually lasts from May to October. At this time, the productivity of local power plants increases dramatically, which provides surplus electricity and low tariffs for it.
In April 2020, the Sichuan authorities considered the possibility of creating “powerful blockchain centers” to efficiently use the surplus electricity in the region.
In May 2020, the media reported that the provincial financial administration demanded from the controlled departments “an orderly cessation of mining activities.” This happened against the backdrop of a shortage of electricity and disconnections of some farms from the networks.
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