“There are many small and medium-sized hydropower plants in Yunnan, Sichuan, and it can be difficult for them to receive government oversight. However, large-scale projects will be closed in the short term.” – he said Wu
Impact on Bitcoin Mining and Wrong Data
Bitcoin's mining difficulty had one of the biggest adjustments in history with a 20% drop after the announcement that the Chinese government could ban mining altogether.
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The current measure has not yet had an effect on hashrate metrics that typically use a composite average of a period's hashrate. Many miners were already leaving the region to relocate to Kazakhstan or even more BTC-friendly regions. However, it is possible that in the next few hours the hashrate will drop and cause transaction jams. It is noteworthy that Cambridge University data, commonly used by specialist newspapers, on BTC mining in the Sichuan region is out of date as of 20 April 2020 As other regions such as Miame and El Slavador attract more miners, China's influence drops considerably and BTC decentralization increases.In short, positive news for bitcoin in the long run!