The Resultant Effect Of Crypto Mining Ban In Yunnan Province Of China.

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As environmental pollution and electricity supply are beginning to be a subject of concern to the Chinese authorities with regards to cryptocurrency mining, Yunnan Province in China, becomes the latest province to ban mining activities.

A Typical Miming Rig.

After this ban takes effect, it will substantially affect the total hash rate of Bitcoin and other cryptocurrencies which can fundamentally impact the price of digital assets negatively.

BTCtop which is one of the foremost mining pools, is hugely affected with the steps taken by the province in banning mining activities. Thus, they have to accelerate their strategy in finding ways to move to North America where mining activities is being encouraged.

On the other hand, mining activity clampdown may not only be the reason why this wave of actions is beginning to spread across China. There are fears that cryptocurrencies are challenging the local currency, which may ultimately lead to stability risk for the economy.

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