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Inner Mongolian Officials Are Considering Cutting Off Miners Access To State-Subsidized Electricity
Summary: Officials from Inner Mongolia are considering an electrical policy which would stop cryptocurrency miners from using state subsidized electricity, according to a recent post. The region expects to recover 4.836 billion yuan ($702 million) from crypto mining activities through the new policy, according to the Inner Mongolia Electric Power Group Co. If access to cheaper electricity ...
Officials from Inner Mongolia are considering an electrical policy which would stop cryptocurrency miners from using state subsidized electricity, according to a recent post.
The region expects to recover 4.836 billion yuan ($702 million) from crypto mining activities through the new policy, according to the Inner Mongolia Electric Power Group Co. If access to cheaper electricity is cut-off it will likely affect local mining operations. Crypto mining giant Bitmain's operations are based in a nearby city.
It is not known if the policy restricting crypto miners access to state subsidized electricity is a short or long-term measure.
By Emily Mason
Tags: Bitcoin Mining,Crypto Mining,Mongolia,State Electricity
Link: Inner Mongolian Officials Are Considering Cutting Off Miners Access To State-Subsidized Electricity [Copy]
