Spain could be the new hub for bitcoin mining

The Spanish authorities will consider the proposal of parliamentarian Maria Muñoz, who proposed making the country a haven for cryptominers and cryptocurrency investors. The situation with protests in Kazakhstan, which negatively affected the mining of bitcoins, prompted a member of the House of Representatives to take such a step.

According to Muñoz, the global hash rate due to events in Kazakhstan fell by 14% in two days. This led to a drop in the value of bitcoin and negatively affected the entire cryptocurrency market. In this regard, she asked several questions to the Spanish government:

  • Are the authorities aware of how a drop in hash rate could affect the cryptosphere in Spain?
  • Does the government plan to attract miners who want to transfer their power to Spain from Kazakhstan?
  • Will the local power system withstand the increase in load if the number of miners in the country grows?

It is not yet known how the Spanish authorities will react to the proposal of Maria Muñoz, but at the moment there is no clear policy in the country regarding cryptocurrencies. It is impossible to attract mining companies without the development of a transparent regulatory framework.

We will follow the development of the situation. Read our news and subscribe to social networks. You can also start mining cryptocurrency using Hive OS service.

Subscribe to our  TelegramTwitter  and  Facebook  to be the first to know about cryptocurrency news!

Coin Shark is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. This article is for informational purposes, prepared on the basis of materials and information from open sources. Cryptocurrency is a high-risk asset, investments in it can lead to losses. Readers should do their own research before taking any action.