crypto mining

China has banned crypto mining in Anhui Province

The Chinese government is continuing its crackdown on crypto mining by suspending operations in yet another province.

According to local news agency Hefei Online, authorities in Anhui, a small province in eastern China, have announced a set of measures to address rising electricity demand and a resulting power supply shortage over the next three years.

Anhui plans to shut down crypto mining projects and scrutinize new initiatives that require large amounts of energy consumption. As part of its efforts to reduce energy consumption. In order to optimize energy usage in the province, local authorities. Also plan to adopt new practices for building data centers and promote electricity price reform.

China’s Anhui province was once one of the country’s poorest, and it was only removed from the country’s official list of impoverished areas in 2020. Anhui is the country’s eighth-largest province in terms of population. According to reports, the province’s power grid consists primarily of coal-fired power plants, with a few hydropower facilities, as well as wind and solar-powered plants.

Anhui’s crackdown is part of a broader national effort.

According to some reports, the latest regulatory crackdown in Anhui is part of a larger national effort to shut down all crypto mining operations in China.

China’s State Grid Corporation has issued a notice to all parts of the country. Requesting the shutdown of virtual currency mining. According to Chinese crypto-journalist Colin Wu. “At the moment, some provinces in China with insufficient power. Such as Henan and Anhui, have started to implement it,” he added.

The announcement comes amid a major regulatory crackdown on crypto mining in China. This follows a series of similar bans in other Chinese provinces such as Yunnan and Sichuan. Which is home to one of the country’s largest hydropower-based mining hubs. In recent months, authorities in Xinjiang, Inner Mongolia, and Qinghai have also ordered mining operations to close.