Currency Economy

Nasdaq listed Bitcoin miners urge China to open doors to green mining

Cryptocurrency24 minutes ago (Jun 02, 2021 08:20AM ET)Nasdaq listed Bitcoin miners urge China to open doors to green mining

Nasdaq listed Bitcoin miners urge China to open doors to green mining

The CEO of Nasdaq-listed Canaan Inc, a China-based firm that specializes in Bitcoin (BTC) mining equipment, argued that China’s Bitcoin mining ban should make allowances for green-energy users during a conference call on Tuesday.

Zhang Nangeng said that an indiscriminate ban on Bitcoin mining failed to take into account the potential economic benefits that could arise from embracing green-energy mining. Zhang stated that mining could present a solution to the oversupply of electricity in certain regions of the country, where resultant low energy prices already attract miners.

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