Sichuan authorities to distribute surplus electricity to blockchain companies

The Chinese city of Ya'an in Sichuan province invited blockchain industry participants to take advantage of«strategic opportunity» and help expend excess hydroelectricity, CoinDesk writes, citing local media.

According to the report, the authorities intend to make Ya'an an example of efficient consumption of hydroelectricity and turn it into a «powerful blockchain center».

What specific activities blockchain companies must engage in to take advantage of the government proposal is not specified.

At the same time, the authorities said in a statement that in order to use electricity, such companies must connect to state networks.

Thanks to the low cost of electricity, Sichuan has long attracted mining companies.

According to a statement by the former vice presidentChina Securities Regulatory Commission Yang Jiang, Sichuan, which produces 70% of all bitcoins in the world, has every opportunity to attract miners even more widely.

Earlier, ForkLog launched a special project, in which we talk about everything you need to know about bitcoin mining.