Chinese hydropower plants on sale as crypto miners move abroad

News Snapshot:

June 29, 2021 According to the SCMP, some sellers claimed that their listings were unrelated to the cryptocurrency mining industry, while others said that their bids came as a result of the recent crackdown on crypto mining. One seller reportedly said that small dams rely on crypto miners for a customer base because they have not obtained approval from state authorities and environmental protection agencies to connect to the power grid.  “You can secretly mine cryptocurrency if you buy a hydropower station,” one seller told the SCMP. The news comes as Chinese Bitcoin (BTC) miners are capitulating or relocating...