Inner Mongolia plans to shut down all cryptocurrency mining projects by the end of April to ensure energy consumption targets are met

Cailianshe reported on March 1 that the Inner Mongolia Autonomous Region Development and Reform Commission recently issued the "Several Guarantee Measures for Ensuring the Completion of the 14th Five-Year Plan Energy Consumption Dual Control Target Tasks (Draft for Comments)", which plans to comprehensively clean up and shut down virtual currency mining projects and withdraw all of them by the end of April. At the same time, new virtual currency mining projects are strictly prohibited. Inner Mongolia has determined that the dual control targets for energy consumption in the region in 2021 are a 3% decrease in energy consumption per unit of GDP, energy consumption increments controlled at around 5 million tons of standard coal, total energy consumption growth rate controlled at around 1.9%, and energy consumption per unit of industrial added value (equivalent value) decreased by more than 4%. The deadline for soliciting opinions is from February 25, 2021 to March 3, 2021.