Inner Mongolia Region, China is determined to block the newest crypto currency group project, while at the same time closing all existing activities as an effort to save electricity.
For your knowledge, the crypto troupe requires the competitor to complete mathematical estimates to ensure that the bitcoin transaction can be executed properly and as an incentive, the competitor will accept bitcoin.
However, it consumes more power than the use of high-power computers.
According to the announcement from the Cambridge Bitcoin Electricity Consumption Index, the Bitcoin troupe requires approximately 128.84 terrawatt-hours each year, covering several countries such as Ukraine and Argentina.
At the same time, China accounts for at least 65% of the bitcoin group worldwide. Inner Mongolia only accounts for as much as 8% of the export than the cheap power caj. At the same time, the United States contributed 7.2%.
Prior to this, China supported the development of blockchain technology, which is the basis for bitcoin. However, starting in 2017 the country initially demonstrated resistance to the crypto industry by banning initial coin offerings (ICOs) and commerce involved with cryptocurrency operations such as exchanges.
President Xi Jinping stressed last year that the country is moving toward a more intimate era by targeting carbon dioxide-free by 2030 and neutralizing carbon by 2060.
