 "China declares war on cryptocurrency mining, stirring wider fear")
China’s Inner Mongolia has banned cryptocurrency mining and declared it will shut all such projects by April, spurring fears the world’s No. 2 economy will take more steps to eradicate the power-hungry practice.
The autonomous region, a favourite among the industry because of its cheap power, also banned new digital coin projects, according to a draft plan posted on the Inner Mongolia Development and Reform Commission’s website February 25. The aim is to constrain growth in energy consumption to about 1.9 per cent in 2021.
Bitcoin extended gains on Monday amid reports of the move, increasing as much
The autonomous region, a favourite among the industry because of its cheap power, also banned new digital coin projects, according to a draft plan posted on the Inner Mongolia Development and Reform Commission’s website February 25. The aim is to constrain growth in energy consumption to about 1.9 per cent in 2021.
Bitcoin extended gains on Monday amid reports of the move, increasing as much
