China Prohibits Hydropower Stations From Supplying Crypto Mining Companies

Yingjiang County authorities in Yunnan China have banned hydropower stations from providing crypto mining companies.

China Prohibits Hydropower Stations From Supplying Crypto Mining Companies
Yunnan China | image: Reuters

According to recent reports, Yingjiang County regulators have ordered all hydropower stations to stop supplying energy stocks to crypto mining companies. Based on the reports, the regulators have asked the firms to voluntarily stop or face the consequences.

The statement said that all towns should tell all hydropower stations in their control to stop giving electricity to Bitcoin mining firms. Also, they should remove any mining machines or gears from the power plant area. The reports noted that they have to do all this before August 24, 2021.

In addition, workshops and associated departments will be organized to force the dismantling of the mining equipment. But if hydropower stations do not want to comply with the law, the State Energy Bureau will demolish them.

Further in the notice, it is stated that governments are forced to intensify supervision of major data factories related to or part of hydropower stations.

Following this, the regulators said,

"The County Development and Reform Bureau departments are ruled to increase legal efforts to eliminate the "illegal power" supply to crypto mining companies."

Previously, Yunnan Province Energy Bureau said that it would investigate. Also, it will act against any Bitcoin mining company that uses power generation firms with unauthorized electricity sources or power for additional hidden profit-making.