Last month, Chinese President Xi Jinping, declared that China has plans to become carbon neutral by 2060, calling for a “green revolution.”
If the plan is properly implemented, it could help China to finally shed its biggest-polluter status and significantly improve the global ecosystem, which could also drastically shake up the country’s eminent Bitcoin (BTC) mining industry.
The most well-known mining hub of China is the Southern province of Sichuan, which has an abundant hydroelectricity sector. However, the electricity there is especially cheap only during the wet season, which takes place between May and September. Outside of that period, most miners migrate up north to Xinjiang and Inner Mongolia, which currently generate over 40% of the total Bitcoin hash rate. Unlike Sichuan, however, those desert regions depend mainly on non-renewable sources of energy such as coal. If the government proceeds to push for net-zero carbon dioxide emissions, mining there will become inefficient, and local players will be left with much fewer options.
The future of Bitcoin mining is green
As the world has finally learned the hard truths of climate change and human-caused emissions of carbon dioxide, having constant access to renewable energy is going to become one of the most important factors in Bitcoin mining. But are there any locations that can cater to this requirement?