China to Curb Power Supply for Some Bitcoin Miners
- Central bank outlined plan at meeting on Wednesday, people say
- China is home to many of the world’s largest bitcoin miners
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China plans to limit power use by some bitcoin miners, people familiar with the matter said, a potential challenge to an industry whose energy-intensive computer networks enable transactions in the cryptocurrency.
The People’s Bank of China outlined the plan Wednesday at a closed-door meeting, according to the people, who asked not to be identified because it wasn’t public. They didn’t detail how authorities plan to enact the curbs.