Anhui becomes latest Chinese province to root out cryptocurrency mining

Anhui, in eastern China, has become the latest province to announce a sweeping ban on cryptocurrency mining, saying the move will help ease an acute power shortage over the next three years.

Anhui will shut down all cryptomining projects in a cleanup aimed at reducing power consumption, as the province faces a “grave” supply shortage of electricity, according a news portal operated by state-owned Hefei Media Group.

China’s state council, or cabinet, vowed to crack down on bitcoin mining and trading in late May, citing underlying financial risks.

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