cryptoknowmics.com
Authorities in China's Yingjiang county have notified hydropower plants to ramp up oversight of crypto mining operations. According to a recent report on Baidu, power suppliers have been given until August 24 to remove Bitcoin miners from their grids.
Yingjiang County Moves Ahead With Stricter Measures Against Bitcoin Miners
In a reiteration of China’s hardline stance against cryptocurrencies, Yunnan’s Yingjiang county is cracking the whip on crypto mining facilities. Hydroelectricity suppliers in the region were recently asked to delist miners from their grids until August 24, failing which officials plan to “forcibly dismantle” power supply to crypto mining companies.
In addition to this, the regional government wants power suppliers to report to China’s National Development and Reform Commission (NDRC) once they’ve removed all the miners on their network. The information collected from this exercise would allow the NDRC to assist Yingjiang in stopping illegal power supply to crypto operations in the future.
The report adds that the Yunnan Provincial Energy Bureau had previously criticized mining facilities for “unauthorized private access to electricity, evasion of state transmission and distribution fees, funds and additional profit-making violations.”
Before Yunnan, Chinese authorities have cracked down on mining operations in Anhui, Sichuan, and Inner Mongolia Autonomous Region. The closures have compelled miners to relocate to locations in Central Asia and North America for legal safeguards and cheap energy.
China Redirecting Power Supply from Crypto Miners to Electric vehicles
It’s no secret that China has been shifting to electric vehicles for quite some time. This shift was making headlines around the world recently as Chinese electric vehicle makers saw their sale numbers triple in July.
Now, in a further boost to the sector, Chinese authorities claim that they are diverting power supply saved from the crypto mining ban to build a network of electric vehicle charging stations.
As per reports, China’s Guizhou province intends to build 4,500 charging stations by the end of this year, and extend that figure to 5,500 by 2023. The efforts will focus on providing a station for every town and cover 20% of car parking bays in shopping malls.