This Chinese Move Could Help Local Miners After Bitcoin Halving

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A Chinese municipality has formally requested Beijing’s permission to allow it to offer surplus electricity to the region’s “blockchain industry” – believed to be code for bitcoin (BTC) miners. The move could have potential knock-on effects for the wider crypto community, and could see potentially reduce BTC mining costs in the lead-up to the next bitcoin halving event.

In an official release from the local government of Ya’an, a prefecture-level city in the western part of China’s Sichuan province, city authorities stated,

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