The Chinese authorities from the city of Ya’an in Sichuan have reportedly expressed a pro-attitude for utilizing hydropower generated locally to run crypto mining operations.
Specifically, the Municipal Economic and Information Bureau and the Municipal Development and Reform Commission of Ya’an has reportedly released a statement for crypto mining implementation in the region, greenlighting the use of electricity produced by hydropower for mining processes.
The paper reportedly revealed that a “hydropower consumption demonstration zone” and “big data industry gathering area” will be built, ultimately become a more attractive region for blockchain businesses to invest and grow.
China has reportedly gained a reputation of being a heavyweight in the crypto mining sector. As stated via a report published last year, China-based Bitcoin miners accounted for up to 66% of the international hash rate, with over half of that portion (54%) are generated within the Sichuan province.
However, the national crypto mining scene is sailing through some rough waters during the current situation of the world. In April 2020, Baite, a major Chinese Bitcoin mining pool, has reportedly decided to shut down its operations in the Bitcoin mining industry.