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The desire of the authorities of China to curb the digital currency is beginning to cause fears not only among "virtual miners", but also among quite real ones, whose lives are endangered due to Xi Jinping's ambitious "ecological" plans.
A local ministry official claims that the surge in energy waste by northern China's mining farms has been a key factor in the increased demand for coal in certain regions of the country. It was the demand of miners that led to the “activation” of coal mining in some previously inactive mines. This, in turn, led to a risk to the safety of people, an increase in accidents, and even deaths.
While the State Council seeks to limit the actions of miners as much as possible, some provinces in China benefit from them, as the industry brings them additional income. In addition, already in 2020, 65% of BTC mining centers operated in China. Today, Xinjiang alone estimates for about 36% of the mining capacities of the main digital currency on the market.
In general, it is difficult to determine the impact of miners on coal mining at the time of economic recovery. But in the case of the Xinjiang region and Inner Mongolia, which have long been favorite destinations for cryptocurrency miners, a clear relationship can be set between cryptocurrency mining and active coal mining.
An investigation into an April coal mine accident in Xinjiang revealed that it was launched without official permission to meet the wild demand for power from mining farm owners. There was no official information about the fate of the trapped miners, except for the declaration of the start of a search and rescue operation.
Meanwhile, the Chinese president said they intend to cut coal waste, peaking in carbon emissions by 2030 and zero by 2060.
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