Technicians exit a cooling chamber adjacent to a wall of bitcoin mining machines at a mining facility in Inner Mongolia. Photo: Bloomberg

China’s cryptocurrency miners look to capitalise on policy shift and cheap power, despite trading ban

  • In a surprising policy shift in late October, China’s economic planning agency removed cryptocurrency mining from a list of activities set for elimination
  • China dominates 70 per cent of global mining operations, although trading cryptocurrency is banned
Topic |   Digital currencies

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Technicians exit a cooling chamber adjacent to a wall of bitcoin mining machines at a mining facility in Inner Mongolia. Photo: Bloomberg
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Sidney Leng

Sidney Leng

Sidney Leng joined the Post in 2015 after spending a year and a half working for US media, including National Public Radio and Foreign Policy Magazine. He has been covering China's macroeconomic policies and financial regulations since 2016.