China has been pressuring state-owned companies to stop mining cryptocurrency. The government also considers harsh sanctions for firms who continue doing so, such as higher energy costs.

According toReportsMeng Wei (a spokesperson for China’s National Development and Reform Commission) stated at a press conference, that the NDRC, China’s top economist, intends to regulate bitcoin mining and state involvement in it. According to reports, the NDRC has organized a session about this topic. This has increased the demand on provincial and municipal governments to examine and remove mining SOEs.