Bitcoin Miners Welcomed By Chengdu Government

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In mid-August officials from the Chinese province of Sichuan approved a number of enterprises that mine bitcoin for legal hydropower consumption in the region. Following the local government of Ya’an city deciding to foster mining, officials from Chengdu recently spoke about welcoming crypto mining at the Hashcon 2020 event as well as bolstering a blockchain industrial park.

Government leaders from the province of Sichuan are beginning to be far more friendly toward bitcoin mining than they were two years ago. In 2018, officials called the industry wasteful, but nowadays leaders from Sichuan have been embracing bitcoin miners.

In mid-April 2020, officials from Ya’an city approved a number of companies to leverage cheap hydropower in the region. In August, Ya’an leaders allowed a “second batch of demonstration enterprises for hydropower consumption,” according to 8btc contributor Lylian Teng.

On August 28, Vincent He from 8btc explained that two officials from the government of Chengdu spoke at the Hashcon 2020 event. Chengdu serves as the capital of Sichuan and is a sub-provincial city.

Hashcon was a bitcoin mining summit held by Inbtc, 8btc, and Chainnode on August 22 and 23. The report notes that a great majority of the BTC hashrate was present at the Hashcon 2020 event alongside 70% of the ASIC rig manufacturers.