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2021-06-11 12:58:55

China's Bitcoin Mining Crackdown Will Boost Marathon Digital's And Riot Blockchain's Coin Hauls

Bitcoin's total network hash rate has grown approximately 70% per year over the last three years.China's three most active provinces alone account for ~57% percent of total global hash rate.China's cabinet level State Council Financial Committee specifically called for a "crackdown on Bitcoin mining and trading behavior".On June 9th, Bitcoin miners in one economic zone of Xinjiang province, home to over a third of the total global hash rate, were ordered to shut down immediately.30% less participation by Chinese miners would increase Marathon's and Riot's top lines by ~25% with zero additional cost or effort.

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