China’s Gansu Province Bans Crypto Mining For Data Centers By CoinEdition

China’s Gansu Province Bans Crypto Mining For Data Centers

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

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

Yesterday, the Gansu Provincial People’s Government communicated the restriction in a data center approval memo, noting that “any data center is strictly prohibited from participating in virtual currency mining projects.” .

In addition, the memo said 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 collected from wealthier eastern provinces. from China.

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

The document also notes that new data centers should complete configuration of monitoring equipment and access the monitoring platform simultaneously, while existing data centers should complete configuration and access in batches.

In addition, the Chinese government is also seeking to encourage colleges and vocational schools in the province to optimize existing professional frameworks. As such, it aims to open graduate and undergraduate courses in digital economy, artificial intelligence, big data, blockchain, virtual reality, etc.

Even after China’s crypto ban, several state-owned companies, including those in Zhejiang province, are still operating mining rigs. In May 2022, China again became the second largest source of mining, although the country had already banned mining for a year.

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

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Ramon J. Espinoza