News Snapshot:
Large Chinese Bitcoin mining hub to shut down its cryptocurrency operations By 0 China’s Inner Mongolia region has announced plans to ban new cryptocurrency mining projects and shut down existing activity in a bid to cut down on the energy-consuming operation. The location failed to meet central government assessment targets regarding energy use in 2019 and was scolded by Beijing. In response, the region’s development and reform commission laid out plans to shut down existing cryptocurrency mining projects by April 2021 and not approve any new ones. They also involve reassessing other energy-intensive industries like steel and coal. Bitcoin mining...
