In response to the rapidly growing global concern of regulators regarding the massive electricity consumption of Bitcoin (BTC) farms worldwide, Beijing is now reportedly conducting comprehensive inspections on mining farms to promote energy efficiency further.
As per the report of Reuters this Thursday, the Bureau of Economy and Information Technology of the Beijing Municipal sent an emergency letter to all data center facilitators within the city to promptly confirm whether or not they are mining cryptos, primarily BTC. Furthermore, those data centers involved in mining must then report the average power consumption they are allotting specifically for crypto mining.
Overall, crypto mining has recently become the main talking point of several regulating bodies around the world due to the notion that the practice may indeed be consuming too much energy that may one day pose a threat to the global environment.
To remediate such concerns, several mining hubs around the world, including Iran and Abkhazia, have now cracked down on their respective mining operations – and it seems like China is now doing just the same.