Updated 8:44 AM EDT, Wed, Aug 18, 2021

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China Bitcoin Miners, Government Agencies, Electricity Companies Hold Conference


(Photo : Reuters) China currently holds 82 percent of the world's total bitcoin.

Several Bitcoin miners in China recently held an energy conference. The semi-private event was organized by Bitmain, the largest bitcoin miner in the region, in China's southwest provincial capital of Chengdu.

Bitcoin miners from Yunnan, Inner Mongolia, and Sichuan reportedly attended the conference. Representatives of several Chinese government agencies were also invited to the gathering. Participants of the conference discussed ways to share resources and the power grid among the stakeholders.

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Several electric companies were also present at the conference. The companies were invited to lay out their plans to generate cheap electricity to attract investments.

The subject matters discussed in the conference included wind energy, hydropower, power tariff, and mining cooperation. Bitmain also showcased its latest bitcoin miner dubbed the S9, which the company claims is the most advanced mining gear today.

According to CrytoCoins News, China currently holds 82 percent of the world's total bitcoin. In China, Bitmain holds more than 22 percent of the total share. The company operates in all aspect of the bitcoin mining platform including the manufacturing and marketing of gear, self-designed systems, as well as running a mining pool.

According to CoinDesk, prices of major digital currencies like bitcon and ether have risen since the start of the year. Market analysts have noted that factors like the devaluation of yuan, and the United Kingdom's exit from the European Union have helped hike the value of digital currencies.

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