A major Chinese bitcoin mining hub is shutting down its cryptocurrency operations

Home » A major Chinese bitcoin mining hub is shutting down its cryptocurrency operations A major Chinese bitcoin mining hub is shutting down its cryptocurrency operations March 2, 2021 China’s Inner Mongolia region plans to ban new cryptocurrency mining projects and shut down existing activity in a bid to cut down on the energy-consuming operation. Bitcoin mining consumes an estimated 128.84 terrawatt-hour per year of energy, more than entire countries such as Ukraine and Argentina. Inner Mongolia alone accounts for around 8% of all bitcoin mining globally, more than the United States which accounts for 7.2%. GUANGZHOU, China — China’s…