Influence of Electric Power Generation Capacity on Regional Distribution of Bitcoin Mining in China
- DOI
- 10.2991/assehr.k.211215.064How to use a DOI?
- Keywords
- Bitcoin; Electric power generation; Panel data analysis
- Abstract
Bitcoin is a newly emerged digital currency. It was first proposed by Satoshi Nakamoto on 2008 November 1, and officially born on 2009 January 3. The attitudes of different countries towards Bitcoin are largely different. Recently, China has become the major country in Bitcoin mining. However, Bitcoin mining is highly dependent on electric power supply. Then, regional power generation capability and electricity price are important indicators to determine the cost and scale of Bitcoin mining business. Based on the provincial and monthly data from 2019 to 2021 including Bitcoin mining volume and wind, thermal and hydro power generations, the impact of each power generation on the Bitcoin mining is empirically analysed by Panel data analysis. Results show that the provinces whose thermal and hydro power generations are relatively large will attract more Bitcoin mining business. However, the effects of wind power generation on the distribution of the Bitcoin business is negative. This is highly likely caused by the substitution effect.
- Copyright
- © 2021 The Authors. Published by Atlantis Press SARL.
- Open Access
- This is an open access article under the CC BY-NC license.
Cite this article
TY - CONF AU - Shengqiu Ma PY - 2021 DA - 2021/12/15 TI - Influence of Electric Power Generation Capacity on Regional Distribution of Bitcoin Mining in China BT - Proceedings of the 7th Annual International Conference on Social Science and Contemporary Humanity Development (SSCHD 2021) PB - Atlantis Press SP - 349 EP - 353 SN - 2352-5398 UR - https://doi.org/10.2991/assehr.k.211215.064 DO - 10.2991/assehr.k.211215.064 ID - Ma2021 ER -