Hydropower Plants Selling Cheap in China Because of Crypto Mining Closures

China’s major provinces are currently providing huge investment opportunities as already installed fully functional small-sized and big-sized hydropower plants are available for sale. These plants once belonged to crypto miners who were utilizing the energy produced by these platforms for mining Bitcoin and all other major and non-major cryptocurrencies. They are being sold for cheap prices which are relatively lesser than the usual market value.

Crypto has grown into a full-fledged industry and as usual an industry hosts multiple types of business in it. Similarly, there are a number of business fields within crypto as well. However, the major fields of crypto are crypto trading, selling, and mining.

However, the whole industry has been victimized at an extreme level in China.

When China had announced the launching of its Central Bank’s Digital Currency, it went wild against its crypto industry. The first challenge which was faced by the Chinese crypto industry was the closure of mining facilities throughout the country. As a result, almost half of the mining facilities came at a stand-still and the operation is still going on vigorously. Even the crypto legend businesses, which were actually born in China, had to let go of their pride that they were Chinese. They are now moving their business out of their motherland into foreign lands in the hopes that they will be safe there.

Before the crackdown, things were going great for the crypto mining industry in China. There were established a large number of hydropower plants that were to be used for the sole purpose of mining. Since now half of the industry is closed, therefore, these hydropower plants are lying idle. The employees who were working there are jobless and they are protesting because they could not feed their families.

Now the owners of these hydropower plants are looking for purchasers who could make good use of these facilities. Interestingly and sadly, these power plants have been put up for sale at cheaper rates. The rates are such which are much cheaper than the usual market rates. There is a certain opportunity for those who can capitalize from these plants. There are adverts everywhere all over China, in the newspapers and at bus stops advertising the sale of small and large-sized power plants. Most of these plants are capable of providing 50 megawatts of electricity.

Three of these plants have already been sold successfully by the owners. However, there are more than 37 plants that are currently up for sale. One of the intended seller adverts suggests that the buyer can utilize the plant for multifarious purposes including crypto mining.

Chinese crackdown operation against crypto miners was initiated on the basis of environmental concerns. Though the concerns are still there yet the industry is vanishing.