In the Chinese province of Inner Mongolia, they decided to make life difficult for bitcoin miners and are going to ban cryptocurrency mining. According to Bloomberg, such a measure is aimed primarily at saving electricity. All mining companies in the province are preparing to close by April.
The authorities of the region intend to tightly control this area in the future. They plan to “properly monitor the scale of data center development and prohibit the construction of any new sites for the extraction of virtual currencies.” Now Inner Mongolia, along with the provinces of Sichuan and Xinjiang, is one of the largest regions in China in terms of cryptocurrency mining.
Mining has a negative impact on the climate. According to the analytical platform Digiconomist, the amount of electricity required to mine cryptocurrencies is comparable to what a whole country consumes in a year. Mining produces 36.95 megatons of carbon dioxide per year, similar to New Zealand. The emission of carbon dioxide that accompanies the production of electricity, in turn, leads to an increase in the greenhouse effect on the planet.
Mining produces 36.95 megatons of carbon dioxide per year, similar to New Zealand. The emission of carbon dioxide that accompanies the production of electricity, in turn, leads to an increase in the greenhouse effect on the planet.