The government issued a document to eliminate the bitcoin mining machine mining business. Where will the small and medium mines go?
The definition of Bitcoin mining machine mining has always been an ambiguous attitude, but recently, the National Development and Reform Commission has a clear definition of bitcoin mining. On April 8, the National Development and Reform Commission official website announced the "Industrial Structure Adjustment Guidance Catalogue". (2019, this is a draft for comments), in which Bitcoin “mining” business is clearly defined as a phase-out industry. As soon as the draft was published, the price of Bitcoin fell sharply, which also made the domestic small and medium-sized mines face the dilemma of where to go.
According to the government's opinion draft, the phase-out categories are mainly backward processes, technologies, equipment and products that do not meet the requirements of relevant laws and regulations, do not have safe production conditions, seriously waste resources, pollute the environment, and need to be eliminated. This means that future domestic bitcoin mining will become an industry category that is immediately phased out. At present, domestic bitcoin mines account for about 70% of the world's total, and mainly consume coal. Therefore, Bitcoin mining is listed as a phase-out industry, which is likely to be related to its huge energy consumption and the large amount of carbon dioxide emissions and e-waste generated by mining. This is in line with the current encouragement to save resources, protect the environment, and optimize the industrial structure. The sustainable development strategy is not consistent.
According to the bitcoin energy consumption index provided by an authoritative research institute, the current consumption of bitcoin mining is about 42.15~54.11TWh (1TWh is 100 million kWh), ranking 52nd in the world's energy consumption countries. , next to Uzbekistan's 51.3TWh (51st), roughly equivalent to 80.5% of Czech energy consumption. Therefore, the government is worried about energy use, and then plans to limit bitcoin mining, which is understandable.
In the face of the government's measures to restrict the mining of domestic bitcoin mining machines, the future living space of domestic small and medium-sized mines and miners will face challenges, and where to go has become a decision that must be made. The domestic mines have not been able to stand still, but the mining machines on hand cannot be stopped in a white, and the mining machines and mines need to continue to develop under a new favorable environment. In response to the government's restrictions on the mining of domestic bitcoin mining machines, many large-scale mines have already known early and gradually transferred the mining business to overseas mines. Some experts have said that the opinion draft will come out, which will hit the domestic mining industry and benefit the mining industry abroad.
Because many overseas mines do not have to face a severe domestic policy environment, many countries are allowed to encourage bitcoin mining. For example, in the Middle East, it is understood that many mines have been deployed in the Middle East for the first two years. The climate in the Middle East is suitable for mining. The most important thing is that the local power resources are very cheap. The price of electricity is almost one or two less than that of domestic mines. Times. Now the government has issued a document to officially phase out the domestic mine mining business. For these mines in overseas regions, it can be said that it is a season of harvest.
When I left the country and chose to go overseas to set up overseas mines, it seems to be a very wise choice. The person in charge of the RHY mine said that it is said that the RHY mine was keenly aware of the domestic mining of bitcoin in the past few years. The policy environment is uncertain, and it is only a matter of time before the government eliminates the ban on domestic mines. In addition, we also saw the cheap power resources in the overseas region and the permission and encouragement of the bitcoin mining. This gave the RHY mine a great determination to transfer the mine to overseas areas. After more than three years of investment layout. The RHY mine has built a 450 MW large mine in the Middle East and has achieved electricity costs as low as $0.01044 per kWh, which is twice the price of domestic mines.
It is reported that they also plan to continue the second phase of the third phase of the mine investment. The head of the RHY mine said, “The government’s decision on the elimination of domestic mines will promote the large-scale transfer of domestic mines and miners overseas. As a pioneer in the early deployment of overseas mines, RHY mines also plan to undertake domestic miners. In cooperation with the mines that have transferred overseas, the expansion of the third phase of our mine can undertake the position of 120,000 mining machines, and welcomes domestic miners and mines to cooperate with mines and mine construction.
Indeed, for these overseas mines that have long been aware of the situation, the government’s draft opinion on the elimination of domestic mining can be said to be a long time. It is the time for the overseas mines to be harvested for many years. However, the current situation of small and medium-sized mines and miners in China is not optimistic. Where to go has become a decision they have to make. It is a wise choice to choose to transfer to overseas mines as soon as possible. Now also It’s not too late.