Inner Mongolia (China) Bans Mining Until the End of April
Inner Mongolia, China's autonomous region, will ban Bitcoin mining until the end of April. The decision of the authorities, unpopular among miners, was to improve the environmental impact and save electricity
In addition to changing the status of the region as one of the largest BTC-generating in the region, the ban may lead to decentralisation of the mining sector.
Everyone knows that China provides up to 65-70% of Bitcoin hashrate. Many farms are located in Inner Mongolia, as there is cheap electricity.
In 2020-2021, when the price of Bitcoin began to rise, the situation was complicated by the influx of miners. Since electricity is produced in the region by burning coal, environmental damage is rampant.
Thanks to the ban, other players can come to the mining market. Miners can also focus on finding greener energy sources. This will have a positive impact on the environment.