Global environmental concerns made it easy for China to ban Bitcoin mining

[RSRS]

Power outages and half of what was present on the grid had severely affected prices in mid April

Bitcoin mining was banned in China as the digital currency market plummeted 10% during the same time
Middle-East and the West have provided viable alternatives to mine Bitcoin
Carbon footprint will now be on the lower side as mining restrictions are in place where 75% of crypto mining took place
Fourteen days after a 15% increment in power costs in Turkey, another store selling proficient mining hardware has opened its entryways in Istanbul — the business center of the nation — on Tuesday. Opening a mining hardware shop in a country with exorbitant power appears to be outlandish.

However, Phoenix Store, Bitmain’s business partner in the Middle East, crunched the numbers prior to opening its second store inside the district. Phoenix Store CEO Phil Harvey clarified that the organization’s essential objective with the Istanbul store is to instruct Turkey’s crypto-accommodating population about crypto mining.

Then, at that point, clients can buy mining hardware and facilitating administrations that would work in Canada, the United States or Russia. Mining in Turkey is essentially unworkable.

It resembles a need to put resources into gold mining as one can go there and put resources into a gold mine, yet it won’t be in the back garden. It will be outside.

Sourch