China’s bitcoin crackdown sparks fears of dirtier cryptomining

Industry experts predict cryptocurrency production will pick up elsewhere as Chinese miners sell off their machines or seek refuge abroad – often in countries with less renewable energy. — Reuters

TBILISI/KUALA LUMPUR: China’s sweeping ban on cryptocurrency mining delivered a blow to an industry criticised for its environmental impact, but emissions from the sector could grow as a result unless other countries follow China’s lead, climate and tech experts said.

Bitcoin’s value tumbled last week after China’s central bank urged banks and payment firms in the country to crack down harder on cryptocurrency trading, in the latest tightening of restrictions on the sector by Beijing.