Regional reports say that officials from Inner Mongolia delineated 21 bitcoin mines, as the region plans to stop subsidized electrical rates for certain data firms. Unless the bitcoin mining facilities pack up and migrate, mining farms may see an electrical price increase by one third.
The Chinese newsdesk Weixin revealed that bitcoin mining farms located in Inner Mongolia will no longer be able to access subsidized electricity. A blockchain journalist based in China, Colin Wu, reports that on August 24, the Inner Mongolia Department of Industry and Information Technology issued an electrical policy notice.
A rough translation of the notice says it is called the “Notice on Matters Related to Mining Enterprises’ Participation in Inner Mongolia Electric Power Multilateral Trading Market.”
The Weixin report notes that at the end of 2019, a number of on-site inspections into more than 30 data and computing companies had found 21 mining operations.
A large number of Chinese miners operate within Inner Mongolia’s borders including a…