Gansu Province Strictly Restricts Crypto Mining
According to a policy document, the Chinese province of Gansu would strictly restrict crypto mining in server rooms for China’s massive digital Eastern Data and Western Computing infrastructure project.
The Eastern Data and Western Computing initiative proposes to construct data centers in western China to store, compute, and feed data acquired in China’s more wealthy eastern provinces. The western section of China has a weak economy but pleasant weather and inexpensive power.
Qingyang, a city in Gansu province, is intended to be one of the project’s centers. It is building a data center and expects to have more than 300,000 server racks, a type of server that also counts the number of servers, by 2025.
Following the crypto prohibition, certain state-owned organizations in China were discovered to have mining rigs operational, including in Zhejiang and Jiangsu provinces.
It has been a year since China outlawed cryptocurrencies, yet by May 2022, China has re-emerged as the second-largest source of Bitcoin mining, implying that mining rigs may still be operational in secret.
Hebei and Gansu are the first regions to phase out crypto mining since last year. However, it seems that the crypto mining ban activity in China is still not strong.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
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Gansu Province Strictly Restricts Crypto Mining
According to a policy document, the Chinese province of Gansu would strictly restrict crypto mining in server rooms for China’s massive digital Eastern Data and Western Computing infrastructure project.
The Eastern Data and Western Computing initiative proposes to construct data centers in western China to store, compute, and feed data acquired in China’s more wealthy eastern provinces. The western section of China has a weak economy but pleasant weather and inexpensive power.
Qingyang, a city in Gansu province, is intended to be one of the project’s centers. It is building a data center and expects to have more than 300,000 server racks, a type of server that also counts the number of servers, by 2025.
Following the crypto prohibition, certain state-owned organizations in China were discovered to have mining rigs operational, including in Zhejiang and Jiangsu provinces.
It has been a year since China outlawed cryptocurrencies, yet by May 2022, China has re-emerged as the second-largest source of Bitcoin mining, implying that mining rigs may still be operational in secret.
Hebei and Gansu are the first regions to phase out crypto mining since last year. However, it seems that the crypto mining ban activity in China is still not strong.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
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