Hydro-Rich Chinese City Said to Clamp Down on Crypto Mining

The transcript discusses China's intensified crackdown on cryptocurrency mining, particularly in Sichuan, due to concerns over financial stability and environmental impact. The crackdown has significantly reduced China's mining capacity, which was once central to global operations. The government aims to maintain control over the financial system and address energy consumption issues, aligning with its carbon neutrality goals. The actions include banning crypto exchanges and searches, with broader implications for regions like Mongolia and Yunnan.

What is the main reason miners are attracted to the city of Jan in Sichuan province?

• Government incentives

• Cheap hydropower

• High internet speed

• Advanced technology

According to a University of Cambridge study, what percentage of global crypto mining capacity was based in China as of April 2020?

• 50%

• 65%

• 75%

• 85%

What are the two main concerns driving China's crackdown on crypto mining?

• Technological advancement and innovation

• Public safety and health

• Cultural preservation and education

• Financial stability and environmental impact

What is China's target year to become carbon neutral?

• 2070

• 2050

• 2060

• 2080

Which Chinese province besides Sichuan has also taken action against crypto mining?

• Guangdong

• Yunnan

• Hunan

• Jiangsu