Technicians make repairs to bitcoin mining machines at a mining facility operated by Bitmain in Ordos, Inner Mongolia, China, on Friday, Aug. 11, 2017.
Qilai Shen | Bloomberg | Getty Images
China has long been home to more than half the world’s bitcoin miners, but now, Beijing wants them out ASAP.
In May, the government called for a severe crackdown on bitcoin mining and trading, setting off what’s being dubbed in crypto circles as “the great mining migration.” This exodus is underway now, and it could be a game changer for Texas.
Mining is the energy-intensive process which both creates new coins and maintains a log of all transactions of existing digital tokens.
Despite a lack of…