Bitcoin at energy crossroads as miners flee China
Will ex-Chinese mining rigs tap Iranian hydrocarbons, or seek greener power sources in North America?
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Bitcoin miners are fleeing China after Beijing imposed a regulatory crackdown. This has created a big opportunity for the power-hungry cryptocurrency to end its reliance on cheap Chinese coal-fired power and clean up its image. The energy markets where they redomicile will be reshaped by new, decentralised revenue streams – and redefine bitcoin’s conten…