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Cyber Bitcoin
According to reports, many bitcoin mining farms are hidden in hydropower stations in the Dadu River Basin in Kangding, Ganzi, Sichuan. In order to purchase electricity from nearby power stations, these “mines” factories did not have EIA, were not reported to be built, and were suspected of illegal construction. Some factories were even built on river banks. Kangding City Land and Resources Bureau said that starting from May 27, a multi-department working group in Kangding City has been working on the mining of Bitcoin on the Dadu River, and then cleaned up the violations.

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Sichuan is one of the provinces with the most abundant hydropower resources in China. Due to the massive construction of hydropower stations, hydropower has been in surplus for a long time. The Bitcoin mining is experiencing a lot of power, and these cheap excess hydropower comes in handy. Sichuan has thus become the natural “mineral capital” of Bitcoin, especially the mining industry of Dadu River, which is well known both at home and abroad. It has been reported that every time the world has dug 100 bitcoins, 5 of them are produced here.

As we all know, China has long banned bitcoin transactions. The legitimacy of the Bitcoin mining has been debated. However, this issue is now "arbitrary." Just in April of this year, the National Development and Reform Commission issued the "Industrial Structure Adjustment Guidance Catalogue", which listed "virtual currency mining activities" as industries that have been explicitly eliminated or immediately eliminated by the national industrial policy. This also indicates that the state has a negative attitude towards the virtual asset production process in the top policy orientation and system design.

It is not difficult to see from the report that the Bitcoin mining is obviously "forbidden." These mining farms are not only "No legally built", but also have "No environmental assessment procedures", and "No industrial and commercial registration". They belong to the typical “three no” mines, and some mines can be built on river banks. These mines not only endanger flood safety, environmental safety, but also bring hidden dangers such as tax evasion, illegal electricity use, and fire safety.

The “three no” mines are obviously banned according to law. In fact, according to the Kangding City Economic and Trade Bureau, Ganzi Prefecture does not allow bitcoin mining, and they have not yet received the filing of related projects. However, just under the eyes of the local regulatory authorities, the “Three No” mines have blossomed everywhere. They openly build factories and openly draw electricity from hydropower stations, making the mining industry of Dadu River bigger and bigger. This is linked to the failure of supervision.

So how does the regulatory failure occur? In the media report, a detail was mentioned. The local environmental protection bureau did not perform the EIA procedures. The reply given by the eco-environment bureau of the city is that the factory has been completed and the illegal construction should be completed by the housing and construction department. Supervision; the Municipal Housing and Construction Bureau said that their scope of supervision is the planned construction land, the competent department of hydropower stations is the National Development and Reform Commission; the Municipal Development and Reform Commission responded that they only approve and supervise projects under construction.

An uncomplicated problem, like a ball, was kicked and played by several local departments, and it is no wonder that the local bitcoin mining industry has been thriving for many years. Behind this kind of supervision, I am afraid that it is still driven by interests. The mining industry is beneficial to local economic development and energy surplus, and there is no harm in it. It is naturally difficult for relevant parties to have strict supervision.

After the public opinion was exposed, Kangding City was finally ready to clean up the illegal Bitcoin mine. However, it is a question that these mines can occupy the Dadu River for so long. In Inner Mongolia, Xinjiang and other places with abundant power resources, similar problems are also worthy of questioning.

If there is no certain department to supervise and clean up under the country's "elimination" ban, then the ban can only be "floating." Therefore, while the mines are being cleaned up, the dereliction of duty and dereliction of duty that may exist in the relevant departments also needs to be liquidated.


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