{"id":258947,"date":"2020-04-28T08:03:47","date_gmt":"2020-04-28T12:03:47","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=258947"},"modified":"2020-07-31T17:17:23","modified_gmt":"2020-07-31T21:17:23","slug":"yaan-seeks-bitcoin-miners-to-use-excess-in-hydropower","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/yaan-seeks-bitcoin-miners-to-use-excess-in-hydropower","title":{"rendered":"Ya\u2019an Seeks Bitcoin Miners To Use Excess In Hydropower"},"content":{"rendered":"<p>Ya\u2019an stands as one of the many cities within the mountainous Sichuan province of China. This region is estimated to hold more than 50% of the computing power for Bitcoin. Recently, the city of Ya\u2019an has issued out public guidance, probably the first of its kind, to take advantage of the blockchain sector in a new format. Simply put, Ya\u2019an plans on burning the excessive hydropower electricity the area generates by making use of the blockchain sector.<\/p>\n<h2>Crypto To The Rescue<\/h2>\n<p>While not explicitly mentioned within the guidance itself, Bitcoin mining is the epitome of what Ya\u2019an desires: A stable, intense reliance on the use of electricity to mine properly.<\/p>\n<p>According to the <a href=\"http:\/\/www.yaan.gov.cn\/\">report from the local daily<\/a> published on the 20th of April, 2020, the government is looking for a way to turn the city into a high-quality example in regards to consuming excess hydropower electricity. Through the process, it plans on turning itself into an impactful hub of the blockchain industry within China itself.<\/p>\n<p><a href=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/12\/images-33.jpg\"><img decoding=\"async\" class=\"aligncenter size-full wp-image-243931\" src=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/12\/images-33.jpg\" alt=\"china blockchain\" width=\"690\" height=\"445\" srcset=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/12\/images-33.jpg 690w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/12\/images-33-300x193.jpg 300w\" sizes=\"(max-width: 690px) 100vw, 690px\" \/><\/a><\/p>\n<h2>Only Excess Must Be Used<\/h2>\n<p>The guidance that Ya\u2019an has issued, stressed that electricity could be used by blockchain firms, but only if this electricity comes from the generated power connected to the state grid. The guidance explained that the principle mandates <a href=\"https:\/\/insidebitcoins.com\/news\/bitflyer-launches-consulting-service-for-blockchain-companies-in-japan\/258848\">blockchain companies<\/a> to build their respective factories near the power plants in question.<\/p>\n<p>These power plants must have excessive power, and must also be integrated within the State Grid. Concerning blockchain companies that leverage electricity that is privately generated from power plants, meaning it doesn\u2019t get put into the State Grid, needs to be rectified in<\/p>\n<h2>A Shift In Chinese Sentiment<\/h2>\n<p>The notice also stands as a signal as to how the Chinese central government has changed its mind in regards to Bitcoin mining throughout the last year.<\/p>\n<p>A prime example of this would be the National Development and Reformation Commission of China. This stands as one of the 26 ministries that constitute the State Council. Initially, this ministry considered the Bitcoin mining industry as something that should be eliminated, stating as much in a guideline draft in April of last year. However, the agency had subsequently scrapped that plan in particular, in regards to the final form of the guideline that was issued in November of 2019<\/p>\n<p>The Sichuan region of China, in particular, has issues regarding excessive hydropower electricity being generated. This subsequently wastes this electricity every year within the rainy summer seasons. Crypto now stands as a reliable option to burn off excess power.<\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"fin-excerpt\">Ya\u2019an stands as one of the many cities within the mountainous Sichuan province of China. This region is estimated to hold more than 50% of <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/news\/yaan-seeks-bitcoin-miners-to-use-excess-in-hydropower\" title=\"Ya\u2019an Seeks Bitcoin Miners To Use Excess In Hydropower\">[&#8230;]<\/a><\/div>","protected":false},"author":1717,"featured_media":138709,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7596],"tags":[734,5319,7598,7571,7893],"class_list":["post-258947","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bitcoin","tag-btc","tag-crypto","tag-mining","tag-trading"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ya\u2019an Seeks Bitcoin Miners To Use Excess In Hydropower<\/title>\n<meta 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