Chinese policy advisor says Sichuan should work to remain attractive to crypto mining

posted 4 months ago
A Chinese government committee for the Sichuan province (the province estimated to have over half of global Bitcoin mining hash power) held a meeting and discussed Bitcoin. Politician Yang Jiang said the combination of Bitcoin, blockchain and excessive hydro energy in Sichuan should spark some new creation for future businesses in the region.

He also said “Blockchain can be involved in every industry. Its main application in the financial sector is digital currency with Bitcoin as a key example,” adding that Bitcoin mining requires cooling and computing, making it an energy-intense industry. Jiang suggested to the think tank that Sichuan should dedicate efforts to further study how Sichuan’s excessive hydro-energy can maintain its attractiveness to digital currency-related industries in an aim to explore new economic opportunity and growth force.
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