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Sichuan Energy Regulator to Meet to Discuss Bitcoin Mining: Report

Some mines in Sichuan are operating as usual despite the recent crackdown, Global Times reported.

Jamie Crawley
May 27, 2021 at 7:06 a.m. EDT
Updated May 27, 2021 at 9:11 a.m. EDT

The Sichuan Energy Regulatory Office said Thursday it will meet June 2 to discuss crypto mining activities amid China’s nationwide crackdown.

* The energy regulator of the south-western province is required to
meet by the country's National Energy Administration, according to
Global Times, a newspaper under the Chinese Communist Party's
flagship publication, People's Daily.

* Despite a national crackdown on bitcoin (BTC, +3.01%) mining, some
mines in Sichuan are operating as usual, Global Times said, citing
unidentified industry insiders.

* Sichuan has been a popular region for bitcoin mining due to its
cheap electricity from hydropower during the rainy season.

* Chinese regulators recently stressed that the country would be
taking a stricter approach to bitcoin mining, with the People's Bank
of China prohibiting financial institutions from providing services
to crypto companies.

https://www.coindesk.com/sichuan-energy-regulator-bitcoin-mining