Quote from: asiabtc on May 26, 2021, 12:09:28 AM

more detailed policy coming. here is Inner Mongolia banning mining policy:

https://mp.weixin.qq.com/s/rI-Uiu1BKWEAGLJJ0x4cPg

Wow!! That 8-point policy basically bans anybody from power plants, data centers, internet cafes and even individuals from mining.

They are quoting not just usage as the reason but also money-laundering and raising money (ICOs). So, effectively they are banning any sort of mining within that Inner Mongolia region. If the other provinces in China follow, this will surely result in an exodus of miner and hopefully, cheap mining gear on sale for the rest of the world.

So an industry that has shifted to this province and deployed equipment and personnel over all these years is being booted out. It is hard to fathom the reason behind this as is the case with most Chinese activities. This much is clear from this draft that they are pretty serious about kicking them out.

Quote from: The Pharmacist on May 25, 2021, 04:17:16 PM

Wow, they actually use coal for power? I'm no expert on how our electrical grid is powered, but I thought most countries had done away with coal--please correct me if I'm way off base, which is quite possible.

Most developing countries still use coal. India for example has some of the highest reserves of coal but of lower quality. So, although the govt comes up with huge targets of moving towards renewables, they are not practical as renewables are not developed enough to cater to the requirements.
This is why we are trying to develop stuff like Coal gasification, Methanol from Coal and increasing efficiency of thermal plants. Coal will continue to be the main source of power for these populous countries for a long time.