The meeting of the Sichuan authorities and local miners was held in a positive way

Organized by the regulator of the Chinese province of Sichuan and the local branch of the national grid company, the seminar with local miners was held in a friendly atmosphere without passing resolutions. This is reported by Cryptonews.

Initially, it was assumed that officials would discuss the scale of mining and the possibility of using excess electricity in the event of a ban on the production of cryptocurrencies.

The participants of the meeting noted the excess of hydroelectric power in the region and its absence at the present time. Among the aspects considered are the sources of income of the local population, generating companies, as well as the effect of cryptocurrency mining activities on the situation in the province.

According to Sally Wang, a representative of Sino Global Capital, the level of the conference is not of political importance, since local authorities will still follow the instructions from Beijing.

Recall that on May 16, the provincial authorities temporarily limited the power supply to large consumers due to low precipitation and a shortage of coal. On May 17, the total computing power of the bitcoin network fell by 20%.

On May 21, Vice Premier of the State Council of the People’s Republic of China Liu He said that the authorities intend to take measures against the mining of cryptocurrencies and bitcoin trading. 

Later, the official Chinese news agency Xinhua criticized digital gold and its mining methods.

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