On February 25th, the official website of the Inner Mongolia Development and Reform Commission issued a statement, saying that in order to accelerate the elimination and resolution of outdated and excessive production capacity, it plans to comprehensively clean up and shut down Online casino and How to find it mining projects, with all of them to be exited by the end of April 2021.

　　In this draft of “Some Guarantee Measures for Ensuring the Completion of the “14th Five-Year Plan” Energy Consumption and Emission Control Goals and Tasks (Opinion Solicitation Draft)”, it is also emphasized: “Reasonably and orderly control the scale of data center construction, strictly prohibit the establishment of new Online casino and How to find it mining projects.”

　　The most important cost of Online casino and How to find it mining is electricity, and Inner Mongolia, which is rich in thermal power resources, has always been one of the domestic large-scale mining bases. But in recent years, Inner Mongolia has actively promoted the adjustment of energy structure. It is learned that during 2019-2020, some Online casino and How to find it mining farms have moved out of Inner Mongolia to Sichuan, Yunnan and other places.

　　A mining farm operator in Yunnan said in an interview with Red Star Capital Bureau that a series of measures in Inner Mongolia are based on the national closure of small and medium-sized thermal power mining farms, which is for environmental protection needs, but may temporarily cause a decrease in the overall computing power of the network, and some mine owners may also face certain losses.

　　Some Online casino and How to find it mining farms are in the process of transfer

　　It may cause a short-term decrease in the overall computing power of the network

　　On February 25th, the Inner Mongolia Development and Reform Commission issued a statement saying, “In order to thoroughly implement the deployment of energy consumption and emission control of the Party Central Committee and the State Council, ensure the completion of the regional “14th Five-Year Plan” energy consumption and emission control goals and tasks, accelerate the promotion of high-quality development, and promote ecological civilization construction, the following guarantee measures are formulated”, including the planned comprehensive cleanup and closure of Online casino and How to find it mining projects, all to be withdrawn by the end of April 2021.

　　Industry news says that virtual currency mining farms in Inner Mongolia have not yet received formal withdrawal and closure notices, but some mining farms have already started to transfer.

　　Some people in the market believe that the policy of Inner Mongolia is bearish for the virtual currency trading market; but others think it is bullish, the more mining farms closed, the less market supply.

　　Mr. Liu operates a virtual currency mining farm in Yunnan and has recently also paid attention to the matter of Inner Mongolia’s proposed withdrawal and closure of Online casino and How to find it mining projects.

　　Mr. Liu predicts that this round of cleanup may cause a short-term decrease in the overall computing power of the network, while the income of miners in other places will increase. In the long run, with the migration and stabilization of mining farms, the impact will gradually decrease.

　　”In the past, some mining farms would also carry out seasonal transfers due to the rich water period and low water period in Sichuan. Now, the bosses of mining farms in Inner Mongolia can only move the machines, and the infrastructure of the mining farms cannot be moved, which may face certain losses,” Mrlottery help and How to find it. Liu said.

　　Mr. Liu gave an example to Red Star Capital Bureau: “A mining farm with a capacity of 10,000 loads requires several hundred thousand units of installed capacity, and the infrastructure construction needs to invest 4 to 5 million yuan.”

　　According to the information released by the Inner Mongolia Development and Reform Commission, the Online Casino and How to Find It mining projects are planned to withdraw completely before April this year. Mr. Liu pointed out that at this time point, it is somewhat embarrassing for virtual currency mines, ‘Sichuan is in a drought period now, and the machines cannot be operated until May.’

　　In addition to economic losses, operators of virtual currency mines also face other troubles, ‘Many places have divided the mine resources almost equally, and it is difficult to do in places that are not very familiar with.’ Mr. Liu added.

　　Some mine owners also said that once all the mines in Inner Mongolia withdraw, mine owners with channels will directly move to other regions, and those without channels will transfer their machines, “There are already a large number of machines on the market.”

　　Inner Mongolia has previously rectified the mines many times.

　　The time left for the mines is not much.

　　The planned withdrawal of the Online Casino and How to Find It mining projects in Inner Mongolia this time is not sudden.

　　Mr. Liu told the Red Star Capital Bureau that a series of measures in Inner Mongolia are based on the background of the country’s closure of small and medium-sized thermal power mines: ‘The country will deal with small and medium-sized thermal power mines with less than 500,000 kilowatts of installed capacity, and the policy documents have been issued early on.’
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　　Due to the high energy consumption and heavy pollution of small-scale thermal power units in our country’s power industry, the National Development and Reform Commission has long implemented ‘large-scale replacement of small-scale’ and shut down small-scale thermal power units as an important measure for energy conservation and consumption reduction since 2007.

　　Last August 24th, the Inner Mongolia Department of Industry and Information Technology listed 21 mining enterprises and required them to suspend participation in the special industry listing and trading qualification.

　　The Inner Mongolia Department of Industry and Information Technology issued a ‘Notice on Relevant Matters of Mining Enterprises Participating in the Multi-party Trading Market of Inner Mongolia Power Group’ to Inner Mongolia Power Group, stating that at the end of 2019, a field investigation was conducted on 30 big data and cloud computing enterprises in 7 leagues and cities, and 21 mining enterprises were found. It was required to suspend the qualification for participating in the special industry listing and trading, and after verifying that the enterprises would no longer engage in mining, the qualification would be restored.

　　In 2019, Inner Mongolia also issued a ‘Notice on the Joint Inspection of the Rectification and Standardization of Online Casino and How to Find It ‘Mining’ Enterprises’, which inspected Online Casino and How to Find It ‘Mining’ enterprises that were irrelevant to the real economy, evaded supervision, and had high energy consumption, and enjoyed preferential policies such as local electricity prices, land, and taxes under the packaging of the ‘big data industry’.

　　This is closely related to the energy structure of Inner Mongolia itself, which can be described in one sentence as: ‘Rich in coal, poor in oil, scarce in gas, water shortage, and abundant wind and light resources.’ Inner Mongolia is rich in coal resources, with a total coal production capacity of 1.34 billion tons, accounting for one-fourth of the country, and more than 40% of the coal mine production capacity is at the ten million-ton level, making it an important coal supply guarantee base in the country.

　　China Energy News pointed out that in recent years, the contradiction between the development of traditional fossil energy and the requirements of ‘carbon neutrality’, the severe situation of energy consumption dual control, the emergence of the ecological red line of grassland, and the new requirements for high-quality development of the national modern energy economic demonstration area, all put forward an urgent requirement for Inner Mongolia’s energy ‘from black to green’.

　　Driven by the transformation of the energy structure, after two years of strict inspections in 2019-2020, the elimination of Online casino and How to find it mining projects in Inner Mongolia has achieved considerable results, and some large mining sites have been transferred to Sichuan, Yunnan, and other places.online casino victory and Latest

　　It is reported that the ‘Opinion Solicitation Draft’ released by the Inner Mongolia Development and Reform Commission has ended the social opinion solicitation on March 3. If the ‘all exit by the end of April’ in the document is to be followed, the time left for Inner Mongolia virtual currency mining sites is not much.

　　Mining sites are transferring to Sichuan.

　　What will happen during the dry season?

　　Compared with the high energy consumption of thermal power mining, hydropower mining is relatively environmental friendly. Data shows that the carbon emission per unit of electricity generated by hydropower is only 1/5 of that by thermal power.

　　Industry insiders point out that at present, large-scale mining sites in China are mainly distributed in Sichuan and Yunnan, where hydropower resources are very rich.

　　Mr. Liu told the Red Star Capital Bureau, ‘During the abundant water period, hydropower capacity is actually surplus. If we can sell more electricity, it is also good for the local area.’

　　Taking Ya’an City, one of the top ten hydropower bases in the country, as an example, according to a report by the China News Network, at the Beijing promotion conference of the West Sichuan Big Data Industrial Park in 2019, Ya’an City said that the city’s hydropower installed capacity exceeds 13 million kilowatts, with a large amount of abandoned water during the abundant water period, and the abandoned hydropower in 2018 alone reached 10 billion kilowatt-hours.

　　Sichuan Province has the largest installed capacity and power generation of hydropower in the country, and how to promote the consumption of surplus hydropower has always been a problem to explore.

　　In August 2019, the official website of the Sichuan Provincial Government published the ‘Implementation Plan for the Construction of Sichuan Province Hydropower Consumption Demonstration Area’, where Sichuan Province will carry out hydropower consumption demonstration areas in Ganzi Prefecture, Panzhihua City, Ya’an City, Leshan City, Liangshan Prefecture, and Aba Prefecture.　

　　By last May, cities and prefectures such as Ganzi, Ya’an, and Liangshan had released policies to attract Bitcoin mining projects.

　　For virtual currency mining sites, the hydropower price during the abundant water period in the hydropower consumption demonstration area is very attractive. It is reported that the market transaction price of abandoned hydropower during the abundant water period is about 0.075 yuan/kilowatt-hour, plus 0.04 yuan/kilowatt-hour for transmission and distribution, and about 0.02-0.047 yuan/kilowatt-hour for government funds, resulting in a household electricity price of 0.135-0.162 yuan/kilowatt-hour.

　　’So, consume as much as possible, and it can also bring tax revenue to the local government and increase employment.’ Mr. Liu said.

　　In fact, this has formed a win-win situation for all parties, including stable mining for mining sites, the utilization of abandoned hydropower by power generation enterprises, the increase in cross-network fee income for power supply companies, and the increase in fund and tax revenue for local governments.

　　However, due to the reasons of energy forms and prices, the distribution of Bitcoin computing power has a relatively obvious seasonal change. Mr. Liu told Red Star Capital Bureau, ‘When Sichuan and Yunnan enter the dry season, there is no surplus electricity in the south, so some mining farms will move their machines to Inner Mongolia and other places.’

　　According to the data published by the Sichuan Provincial Development and Reform Commission, the rich water period in Sichuan Province is from June to October, the dry season is from January to April and December, and the flat water period is in May and November.

　　During the丰water period, there is a surplus of hydropower and low electricity prices, but during the dry season, there will be a shortage of electricity and an increase in electricity prices, and some mining farms may also experience power outages.

　　After the丰water period in October of the previous year, the southwest region ends a half-year long丰water period, and mining farms have to move to Inner Mongolia and other places rich in hydropower and affordable. Therefore, the impact of Inner Mongolia’s plan to clean up and shut down the online casino and How to find it mining project may become more prominent after October this year.

　　[Popular Science]
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　　How high is the energy consumption of mining?

　　The electricity consumption of mining Bitcoin exceeds that of more than 100 countries and regions

　　By the end of 2020, the price of Bitcoin broke through $30,000, and in just two months of 2021, it exceeded $50,000, reaching a high of $58,012, with a two-month increase of 60% and a year-on-year increase of 460% over the past 12 months.　

　　With the sharp rise in the price of Bitcoin, mining is consuming vast amounts of electricity.

　　The mining of online casinos and How to find it belongs to a strong computation-intensive task, requiring powerful hardware support. For example, the Ant S9 miner, which has lower power consumption on the market, has a computing power of 13.5 t and a power consumption of 1.4 kilowatts, consuming 33.6 degrees of electricity in 24 hours; the machine with higher power consumption, such as the machine ma3, consumes 51.6 degrees of electricity in 24 hours, both far exceeding a family’s monthly electricity consumption.　

　　The latest Cambridge Bitcoin Electricity Consumption Index (CBECI) shows that the annual electricity consumption of Bitcoin mining has now reached 129.22 terawatt-hours (TW, 1 terawatt-hour = 100 million kilowatt-hours), exceeding the national electricity consumption of the Netherlands, which has a population of 17 million.　

　　The electricity required by the entire Bitcoin industry exceeds that of more than 100 countries and regions, including the United Arab Emirates, the Netherlands, the Philippines, Belgium, Australia, Israel, and others.　

　　The astonishing electricity consumption is accompanied by high growth. In early 2017, the annual electricity consumption of Bitcoin mining was 6.6 terawatt-hours; by 2018, it had increased by about 7 times to 48.37 terawatt-hours; in October 2020, the electricity consumption rose to 67 terawatt-hours. Just a few months later, the number has now doubled to 129.22 terawatt-hours.　

　　According to calculations by Cambridge researchers, this amount of electricity is enough to power the University of Cambridge for about 700 years. Industry insiders say that over time, the annual electricity consumption of mining will continue to grow steadily.

　　(Title originally: ‘How Much Electricity Does Mining Consume? Inner Mongolia Plans to Phase Out Bitcoin Mining Farms, Mining Owners Have Started to Transfer’)