To avoid the increasing power consumption and speculation, China's regulators are planning to ban mining in the long-term according to leaked documents by Jan 2. However, it will be almost impossible to shut down the massive increasing number of smaller mining facilities as they can be operated with hydropower plants; The answer to regulation could be off-grid.
China has the greatest processing power devoted to bitcoin mining. It is the leading industry in mining hardware and mining pools.
A set-up of Icarus mining hardware from Canaan Creative Co. Ltd. in China.
Russia and India have great potential to grow in mining this year. Russian's president Putin is also in the game with the help of RMC. A very good analysis you can find here:
https://steemit.com/bitcoin/@lannocc/russian-miner-coin-ico-raising-usd100-million-to-defeat-chinese-bitcoin-mining
Source: https://qz.com/1174091/china-wants-an-orderly-exit-from-bitcoin-mining/
Leaked Source:
https://twitter.com/cryptovenus/status/949405526315716608
- cryptovenus