China makes up about 71% of bitcoin mining pools according to most estimates. It makes perfect sense for folks to mine in areas of China that offer low electricity costs. But the spike in usage is getting the attention of regulators. In an article from the South China Morning Post, the PBOC held a meeting on Wednesday where they laid out a plan to limit power usage of bitcoin miners. Which miners are being regulated is unknown, and could ultimately create opportunities for other miners to fill the gap.
