A move to ban cryptocurrency mining in China could have a significant impact on bitcoin values if the proposal gets the green light. Cryptocurrency mining, where people use high-performance computers to solve the complex problems in the bitcoin network to unlock more virtual coins, came under fire from the Chinese government last week due to its environmental impact, Forbes reports. The mining process “requires huge amounts of electricity”, so digital currency miners have been drawn to coal-dependent provinces due to the cost of power being significantly lower than in more urban areas, the website says. The activity alone is believed to generate between three and 15 tons (2.7 to 13.5 metric tonnes) of carbon dioxide a year, adds Forbes. The move will be welcomed by environmen
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