China's electricity generation is the highest in the world and has surplus, why can't it be used for Bitcoin mining?

First, let's look at a macro fact: According to data released by the National Energy Administration in the first quarter of 2025, China's total electricity generation for the whole year of 2024 reached 9.4181 trillion kilowatt-hours, an increase of 4.6% year-on-year, accounting for about one-third of global electricity generation. What does this concept mean? The total annual electricity generation of the entire European Union is less than 70% of China's. This means that not only do we have electricity, but we are also in a state of both 'electricity surplus' and 'structural reconstruction'.

Not only does China generate a lot of electricity, but the way it generates electricity has also changed.

By the end of 2024, the total installed capacity nationwide reached 3.53 billion kilowatts, an increase of 14.6% year-on-year, with the proportion of clean energy further increasing. The newly installed photovoltaic capacity was about 140 million kilowatts, and newly installed wind power was 77 million kilowatts. In terms of proportion, in 2024, China's newly installed photovoltaic capacity accounted for 52% of the global total, and newly installed wind power accounted for 41%. In the global clean energy landscape, China is almost a 'dominant player'.

This growth is no longer concentrated solely in traditional energy-rich provinces but is gradually tilting towards the northwest. Provinces such as Gansu, Xinjiang, Ningxia, and Qinghai have become 'new energy powerhouses', gradually transforming from 'resource-exporting regions' to 'main energy production forces'. To support this transformation, China has deployed a national-level new energy base plan in the 'Shage Desert' area: concentrating over 400 million kilowatts of wind and photovoltaic installed capacity in desert, Gobi, and barren areas, with the first batch of about 120 million kilowatts already included in the '14th Five-Year Plan'.

In summary: China now lacks electricity; what is lacking is 'adjustable electricity', 'consumable electricity', and 'profitable electricity'.