According to a local news agency, it may be the end of cheap hydroelectricity used by the giant mining enterprises in China.
If you look at the news that the cheap electricity used by miners will be cut off, it is on the agenda that energy from a generic hydroelectric power plant published by Sichuan Electric Power Company (Sichuan Electric Power Company) will be cut off. At the same time, the general public is not avoiding Bitcoin mining as "illegal activity". But for now, this circular has not been confirmed by official sources
Bitcoin Market Still Compressed by the Government
According to the agency's announcement, statements from energy companies are completely contradictory to the ideas of miners. The miners claim that 'waste water' is used for Bitcoin operations. Waste water on its name wastes its kinetic energy whether it is produced or not. This explains why electricity prices are very cheap.
Nevertheless, the state government that cuts off hydroelectricity will implement the 'no new generator set' strategy, and it will also assume ownership of all generators in use.
"Sichuan's publicized strategy proposal is also available. A new hydroelectric generator will no longer be built. On top of that, all the smaller generators in use will be kept under control. This will limit the energy used by Bitcoin miners to a large extent. "
A change to this extent is a sign that the Chinese government is very persistent in this matter. As the prevalence of crypto-money increases, laws governing their use are also emerging. This circular is not official yet, but you can follow a possible improvement from the Koin Bulletin.
