China’s crypto mining operations may be set for stricter supervision in the future, with the Government reportedly concerned about the energy consumption of Bitcoin mining in particular.
Beijing sent an “emergency notice” to conduct checks on data centres involved in Bitcoin and other cryptocurrency mining operations on April 27, which was reportedly met with some panic in China.
However Chinese columnist Colin Wu or Wu Blockchain on Twitter, was quick to downplay fears of how this could impact Chinese Bitcoin miners in the short term, noting that:
“This caused some panic in China. However, the Chinese government said it was only conducting an investigation. Data centers are difficult to use for Bitcoin mining, and are mainly used for ETH Filecoin.”
According to Chinese state media PengPai (accessed via translation), the “emergency notice” was routine work for the Beijing Municipal Bureau of Economy and Information Technology, as it seeks to account for a clearer picture of the energy consumption from the mining