Published on November 14th, 2017 | by bitcoin0
Chinese Power worker Denies Bitcoin boring Ban Rumors
A state-owned electric utility in China is rebuffing rumors that bitcoin mining has been deemed illegal by the government.
Rumors spread in the past day – based on a circulated document – indicating that the country’s State Grid was moving to ban bitcoin mining at a county level in Sichuan province, an ostensibly notable development given the area’s abundant water supply for electricity generation and the fact that profit-chasing bitcoin miners are headquartered in the region.
A translated version of the document states that “bitcoin mining is an illegal activity,” further adding that “each State Grid connected generator that is involved in powering bitcoin mining is also regarded as an illegal practice, which shall be prohibited.
“We are a state-owned enterprise, not an administrative branch that has the power to determine whether bitcoin mining is legitimate or not,” the county branch told the publication.
“It’s a fight for the interests of hydropower stations,” Jiang Zhuoer, founder of China’s mining pool BTC.TOP, told CoinDesk.