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1 Cent per Kilowatt-Hour: China’s Sichuan Province Encourages Hydro-Powered Bitcoin Mining

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Jamie Redman

The local government of Ya’an city, in China’s Sichuan province, has announced the region is encouraging bitcoin mining in Sichuan if operations leverage the local hydropower plants. The document released by Ya’an city officials is in stark contrast to how Sichuan lawmakers felt about mining in 2018. Back then the government and China’s central bank called the operation “wasteful” and discouraged the business.

On April 20, the city of Ya’an in the Sichuan province of China has published a document that encourages bitcoin mining and blockchain operations to use the region’s abundant hydropower stations. It’s likely that the Covid-19 economy ...

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