Bitcoin mining requires huge amounts of computing power and uses large amounts of energy, but China has pledged to achieve carbon neutrality in 2060. Inner Mongolia was the only one of 30 areas under Beijing’s energy consumption and energy intensity review that failed to meet the targets in 2019. — SCMP
China’s top energy consuming province plans to suspend all new and existing bitcoin mining projects before the end of April, as Inner Mongolia faces mounting pressure to meet its energy-saving targets.
Bitcoin mining requires huge amounts of computing power and uses large amounts of energy, with operations attracted to areas like Inner Mongolia, Sichuan and Xinjiang due to low electricity prices.
