{"id":43704,"date":"2021-06-03T15:20:49","date_gmt":"2021-06-03T12:20:49","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=43704"},"modified":"2025-08-31T13:33:58","modified_gmt":"2025-08-31T10:33:58","slug":"canaan-defends-bitcoin-mining-in-china","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/canaan-defends-bitcoin-mining-in-china\/","title":{"rendered":"Canaan defends Bitcoin mining in China"},"content":{"rendered":"<p>The mining-equipment maker Canaan Creative has spoken out against the indiscriminate crackdown on mining in China, <a href=\\\"https:\/\/www.reuters.com\/business\/finance\/mining-rig-maker-canaan-argues-against-wholesale-crackdown-bitcoin-mining-china-2021-06-02\/?rpc=401&#038;\\\" target=\\\"_blank\\\" rel=\\\"noreferrer noopener\\\">Reuters<\/a> reports.<\/p>\n<p>\\n\\n\\n<\/p>\n<p>The company said that this business helps to use electricity more efficiently and supports employment and regional economies.<\/p>\n<p>\\n\\n\\n<\/p>\n<p>During a financial-results conference call, Canaan CEO Nangeng Zhang said that cryptocurrency mining using fossil fuels undermines the government\u2019s environmental efforts, but those who use clean energy should not face repression.<\/p>\n<p>\\n\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cMining companies prefer regions with low electricity prices, which indicate oversupply and potential losses,\u201d he added.<\/p>\n<\/blockquote>\n<p>\\n\\n\\n<\/p>\n<p>He also said that Bitcoin miners \u201chelp create jobs in poor areas and contribute to the budget.\u201d<\/p>\n<p>\\n\\n\\n<\/p>\n<p>Zhang&#8217;s remarks followed statements by authorities about <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-falls-below-37000-on-news-of-chinas-mining-ban\">a possible ban on mining<\/a> in the country.<\/p>\n<p>\\n\\n\\n<\/p>\n<p>Officials in Sichuan Province, one of the world&#8217;s Bitcoin mining hubs, <a href=\"https:\/\/u1f987.com\/en\/news\/media-sichuan-to-assess-impact-of-bitcoin-mining-ban-on-the-energy-sector\">held a seminar<\/a> on using surplus hydroelectric power in the context of the ban. Media reported that the meeting with local miners <a href=\"https:\/\/u1f987.com\/en\/news\/sichuan-authorities-meet-local-miners-in-a-positive-mood\">took place in a cordial atmosphere<\/a>, but without any resolutions.<\/p>\n<p>\\n\\n\\n<\/p>\n<p>Under these circumstances, the company is expanding into overseas markets.<\/p>\n<p>\\n\\n\\n<\/p>\n<p>Canaan&#8217;s share of sales outside China <a href=\"https:\/\/u1f987.com\/en\/news\/overseas-customers-accounted-for-78-of-canaans-revenue\">exceeded 78%<\/a> in the first quarter of 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The mining equipment maker Canaan Creative has spoken out against the indiscriminate crackdown on mining in China, Reuters reports.<\/p>\n","protected":false},"author":1,"featured_media":43705,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[845,133,1306],"class_list":["post-43704","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-canaan","tag-china","tag-mining-ban"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/43704","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=43704"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/43704\/revisions"}],"predecessor-version":[{"id":43706,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/43704\/revisions\/43706"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/43705"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=43704"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=43704"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=43704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}