China's crackdown on bitcoin mining has probably already made the network greener — for now

Quick Take

  • Xinjiang said to have shut down nearly two gigawatts of coal-based bitcoin miners.
  • Sichuan has also ordered some miners to shut down.
  • The global environmental implications for the bitcoin network depend on where China’s miners decide to move.
Following shutdown orders in coal-heavy Xinjiang and hydro-heavy Sichuan, many of China's bitcoin miners are looking for a new home.

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