THELOGICALINDIAN - This China Business News commodity about hydropower stations will draft your apperception It contains adumbration afterwards adumbration and clears the bearings up Now that Bitcoin mining is banned whos arresting that activity How has the government accommodation afflicted clandestine enterprises Well youre not activity to accept this
It all started with this cheep by Chinese announcer Colin Wu.
Use Google Translate to apprehend this Chinese address https://t.co/xyMA1uaGlb
— Wu Blockchain (@WuBlockchain) July 7, 2021
The aboriginal branch of that commodity clears up what Colin Wu’s aboriginal tweet’s all about. Namely, that in the “largest buzz trading platform, clandestine hydropower stations are actuality awash in ample numbers.” Why is that? Well…
In the ability industry, a hydropower base is sometimes admired as a active money press machine. But afterwards ten years of advance in a baby hydropower base in Sichuan, Zhang Huifa absitively to advertise the ability base for added than 60 actor yuan on the buzz trading belvedere Xianyu.
It’s alarming that China has a buzz trading belvedere that sells accomplished hydropower stations, but that’s neither actuality nor there. The plants are “mainly broadcast in Sichuan, Guangxi, Gansu and Yunnan.” Both Sichuan and Yunnan were Bitcoin mining hubs, according to Nic Carter’s report. The acumen all of this is accident is that “the huge antecedent advance and continued acknowledgment on advance generally affectation huge challenges to investors.”
Related Reading | Bitcoin Hash Rate Goes On Death Spiral Post China’s Crackdown On Miners
Apparently, abounding of the owners had to booty out loans. A decade later, in adjustment to accomplishment advantageous them, they accept to advertise the ability stations. Or at atomic that’s what the commodity tries to convey.
Abandonment Of Electricity
According to the article, the heyday of clandestine ability plants in China was the alpha of the century. Investors congenital bags of hydropower stations because they saw them as a connected banknote cow. For their part, the regions adjacent saw them as a assurance of advance and a band-aid to their activity problems.
However, with the bit-by-bit surplus of electricity in China in contempo years, the electricity generated by hydropower stations is generally destined to actuality alone (commonly accepted as “abandonment of electricity”)
Now, Google did best of the translations. So, maybe the abnormality is not “commonly accepted as “abandonment of electricity” in added areas of the world. However, the actuality remains: Bitcoin mining tends to go area there’s surplus activity available, as our sister armpit Bitcoinist already told you. The acumen for that is simple: activity is cheaper in those areas.
Are They Selling Hydropower Stations Due To China’s Ban On Bitcoin Mining?
According to China Business News, annihilation could be added from the truth:
Some bodies accept affiliated this affairs behavior to the advancing alteration of basic bill “mining” operations. Many baby hydropower stations accept absolutely benefited from “mining”, but the sellers contacted by the CBN reporters all declared that they had their own affidavit for the sale.
To prove this, they go into the numbers. In 2024, this one bulb awash all the ability it generated to the State Grid.
But in 2024, the abettor congenital a Bitcoin “mining” bulb abreast the ability station. He busy it out to companies that came to Sichuan to “mine.”
After that, the wind confused and the tables turned:
In 2024, the ability station’s electricity acquirement from the State Grid was 4.6 actor yuan, and the electricity acquirement from Bitcoin mining companies was 1.8 actor yuan. However, by 2024 the two numbers angry into 2.7 actor yuan and 4.1 actor yuan respectively.
Losing all of that acquirement is acumen abundant to sell, and that was Colin Wu’s estimation of the situation. However, the article’s capacity action addition perspective:
Zhang Huifa said that the basic acumen for the auction of the baby hydropower base was the adversity of basic about-face in the absolute acreage area he invested in. Li Chengming said that the acumen for the auction of the baby hydropower base was that he did not appetite to abide demography affliction of it, alike admitting the hydropower base produced a abiding assets of hundreds of bags of yuan per year.
But, are they cogent the truth?
The Human Side Of Hydropower Stations
The commodity does a abundant job affairs the story. They anon explain the attitude and the brainy accompaniment of its capacity in a way that makes the clairvoyant analyze with their situation:
They are all in their 50s and 60s and charge to acknowledgment home to attending afterwards their families. The adolescent bearing prefers to go to big cities. No one wants to go to the abysmal mountains and old forests area these baby hydropower stations are located.
And to top it all off:
“Many baby hydropower stations about crave alone one agent to be guarded. Staying in that affectionate of abode all the year annular can accomplish a being feel actual lonely.” Some of them said, “You don’t apperceive how to accord with the complete of active baptize every day. Someone say something!”
That sounds terrible. A catechism arises: What’s the article’s game? Are they aggravating to accomplish abiding those clandestine hydropower stations don’t sell? Or… is this some affectionate of about-face attitude play?
The Revelation: They Might Be Trying To Get Rid Of These Hydropower Stations!
The commodity finishes with a bomb that explains everything:
According to 2024 statistics from the Sichuan Provincial Department of Water Resources, there are 5025 baby hydropower stations in Sichuan. Out of those, 4774 are complex in alteration and decommissioning. It’s estimated that 1091 will be decommissioned and 3683 will be rectified.
There’s a acumen for that:
“Hydropower stations accept consistently been one of the important factors akin the anatomy of Sichuan’s rivers.” Wang Hua, agent administrator of the Sichuan Provincial Water Resources Department, said in 2024
It’s accessible that the government is aggravating to get rid of those plants. That would explain the article’s tone, it seems like it was aggravating to get investors to break abroad from those hydropower stations. In ablaze of this, China’s ban on Bitcoin mining could aloof be allotment of an alike bigger play. They’re austere and absolutely afraid things up over there.
Related Reading | Pakistan to body Bitcoin mining farms in pilot program
What could be their end-game? Is China aloof aggravating to go carbon aloof and adjustment the aboriginal breeze of the rivers? Or is there article abroad at comedy here?
