CJ - Cryptocurrency Enthusiast
The prohibition was announced on September 22nd in a data center permission notice from the People's Government of Gansu Province, which said that "any data center is absolutely barred from participating in virtual currency mining operations."
The Eastern Data and Western Computing program, which will store, analyze, and feed data obtained from China's wealthier eastern provinces, is also stated to have as its objective the construction of data centers in western China.
One of the project hubs will be the city of Qingyang in the province of Gansu. It intends to deploy more than 300,000 server rack units in a data center by 2025. The paper further stated that although current data centers are required to complete the setup of monitoring equipment and access the monitoring platform in batches, new data centers are required to do both tasks simultaneously.
The Chinese government also aims to motivate universities and vocational schools in the province to improve the current working conditions. As a result, it seeks to launch undergraduate and junior college courses in topics including virtual reality, blockchain, big data, artificial intelligence, and the crypto assets economy.
Several state-owned businesses, particularly those in Zhejiang province, continue to run mining rigs even after China banned cryptocurrencies. Despite the nation's ongoing one-year mining prohibition, China reemerged as the second-largest source of Bitcoin mining in May 2022. The Beijing Number One Intermediate People's Court has ruled that prospective investors are only permitted to exchange cryptocurrencies as virtual assets, not as actual money.
The figures mentioned above show that there is a huge demand for blockchain technology and even with the ban on cryptocurrencies people see the benefits it can bring. To get yourself involved in crypto, we advise visiting a trusted cryptobroker – BCBitcoin. Here you can buy and sell cryptocurrency, trade crypto and learn more about essential and upcoming new projects in the blockchain space.