The southwestern Chinese province of Sichuan has decided to definitively ban Bitcoin mining

We all know about China’s hostile attitude towards cryptocurrencies, as news on this subject always spreads very quickly. Personally, we thought we wouldn’t hear about this topic for a while, but we were wrong. It is only a few hours after the news spread around the world that China continues to fight cryptocurrencies, as the southwestern Chinese province of Sichuan has definitely decided to ban Bitcoin mining. One of the reasons is also said to be that the country wants to reduce its overall energy consumption as soon as possible.

However, countries such as Kazakhstan, which offers very cheap electricity as well as legal protection to all “mining companies” that have to leave China, can benefit from this situation, as Kazakhstan recognized Bitcoin as a digital asset last year that you can use to buy or sales of any commodity and the country’s overall attitude towards cryptocurrencies is significantly different than in the case of China.

Another advantage of the country is the suitable continental climate, which is characterized by cold and windy weather, with currently Kazakhstan with up to 116 renewable energy plants with a capacity of 1,685 MW and by 2050 the country plans to reach more than half total energy consumption in the country in the form of renewable and alternative energy. We will certainly monitor the situation, as there is currently a struggle among many countries over who will “get” the most “mining companies” on their side.