Bitcoin, Ethereum And Cardano Among Major Cryptocurrencies To Fall As China Expands Mining Crackdown
- Date: 14-Jul-2021
- Source: Forbes
- Sector:Financial Markets
- Country:Middle East
Bitcoin, Ethereum And Cardano Among Major Cryptocurrencies To Fall As China Expands Mining Crackdown
The value of major cryptocurrencies—including bitcoin, ethereum, cardano and ripple—fell Wednesday after China’s Anhui province announced sweeping plans to ban cryptocurrency mining, the latest region to block the power-hungry practice as Beijing intensifies its crackdown on the industry.
Bitcoin mining is an energy intensive process.
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