Earlier this year, China completely banned Bitcoin mining.
The ban literally shut down more than half of the worlds miners overnight.
After the ban, more than 50% of bitcoins hash rate dropped off the global web connection.
In fact, The networks hash rate is up about 113% in comparison to the past five months.
How can anyone ever argue, But what if nations ban it?
His company helped bring around $400 million of mining equipment into North America.
Sadly, despite the recovery, bitcoin still remains below the $50,000 region.
You might know that Bitcoin and other proof-of-work crypto networks use a significant amount of energy for mining.
The primary source of energy in China is coal and its consumption has increased significantly.
source: www.techworm.net
