News Snapshot:
Anhui, a province in eastern China, has become the latest in the country to crack down on cryptocurrency mining . According to a news portal operated by state-owned Hefei Media Group, Anhui will shut down all crypto mining projects. This is part of a cleanup aimed at reducing power consumption, as the province faces a “grave” supply shortage of electricity. Experts anticipate that Anhui’s electricity demand will rise to 73.14 million kilowatts in 2024. However, the current supply of the province is only 48.4 million kilowatts. According to the article, a “relatively big gap” is projected. In order to account...
