Sunday, September 25, 2022

China’s Gansu Province Prohibits Crypto Mining For Data Centers

  • A Chinese Province has outlawed crypto mining for data centers.
  • China is building data centers in its western region to process data from the more wealthy eastern provinces.
  • Qingyang plans to have over 300,000 server rack units by 2025.

A Chinese province has issued a statement prohibiting crypto mining in the server rooms for China’s mega digital infrastructure project.

The People’s Government of Gansu Province communicated the restriction in a data center approval note yesterday, noting that “any data center is strictly prohibited from participating in virtual currency mining projects.”

Furthermore, the note states that building data centers in western China is the goal of the Eastern Data and Western Computing initiative, which will store, process, and feed data gathered from China’s more wealthy eastern provinces.

The city of Qingyang in the province of Gansu will serve as one of the project centers. By 2025, it plans to have more than 300,000 server rack units deployed in a data center.

The document also noted that new data centers are to complete the configuration of monitoring equipment and access the monitoring platform simultaneously while existing data centers are to complete the configuration and access in batches.

Additionally, the Chinese government also seeks to encourage colleges and vocational colleges in the province to optimize the existing professional settings. As such it aims to open undergraduate and junior college courses in the digital economy, artificial intelligence, big data, blockchain, virtual reality, and more.

Even after crypto prohibition in China, several state-owned companies, including those in Zhejiang province, still operate mining rigs. In May 2022, China re-emerged as the second-largest source of Bitcoin mining, albeit the country’s  existing ban on mining for a year.

According to the Beijing Number One Intermediate People’s Court, interested investors may only trade cryptocurrencies as virtual assets rather than as legal currency.

  • A Chinese Province has outlawed crypto mining for data centers.
  • China is building data centers in its western region to process data from the more wealthy eastern provinces.
  • Qingyang plans to have over 300,000 server rack units by 2025.

A Chinese province has issued a statement prohibiting crypto mining in the server rooms for China’s mega digital infrastructure project.

The People’s Government of Gansu Province communicated the restriction in a data center approval note yesterday, noting that “any data center is strictly prohibited from participating in virtual currency mining projects.”

Furthermore, the note states that building data centers in western China is the goal of the Eastern Data and Western Computing initiative, which will store, process, and feed data gathered from China’s more wealthy eastern provinces.

The city of Qingyang in the province of Gansu will serve as one of the project centers. By 2025, it plans to have more than 300,000 server rack units deployed in a data center.

The document also noted that new data centers are to complete the configuration of monitoring equipment and access the monitoring platform simultaneously while existing data centers are to complete the configuration and access in batches.

Additionally, the Chinese government also seeks to encourage colleges and vocational colleges in the province to optimize the existing professional settings. As such it aims to open undergraduate and junior college courses in the digital economy, artificial intelligence, big data, blockchain, virtual reality, and more.

Even after crypto prohibition in China, several state-owned companies, including those in Zhejiang province, still operate mining rigs. In May 2022, China re-emerged as the second-largest source of Bitcoin mining, albeit the country’s  existing ban on mining for a year.

According to the Beijing Number One Intermediate People’s Court, interested investors may only trade cryptocurrencies as virtual assets rather than as legal currency.

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