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Bitcoin Hash Rate Goes On Death Spiral Post China's Crackdown On Miners

Bitcoin Hash Rate Goes On Death Spiral Post China's Crackdown On Miners
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Why The Chinese Government Started Mining Bitcoin (BTC)

Why The Chinese Government Started Mining Bitcoin (BTC)
Reporter Colin Wu shared news published by Chinese state media PengPai related to Bitcoin mining activities by the national government. At the very least, China’s view of cryptocurrencies is ambiguous, but according to the report they have been dabbing with BTC.
The state media confirmed a rumor on the Beijing government’s collection data center being used in BTC mining activities. The report stated that data centers in China’s capital were asked to submit feedback to “sort out the situation”.
According to the Beijing Economic and Information Bureau, there were concerns about the energy consumption related to these activities. PengPai quotes Yu Jianing, rotating Chairman of the Blockchain Special Committee of China, to claim that the country’s environmental requirements could lead to crypto mining being more “strictly regulated”. Jianing said this will be “inevitable”. ....

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