Bitcoin enthusiasts prize the cryptocurrency as beyond the reach of any government. Yet up to three-quarters of the world’s supply has been produced in just one country, China, where a government push to curtail output is now causing global bitcoin turbulence.
The amount of electricity needed to power vast numbers of computers used to create new bitcoin are at odds with China’s recent climate goals. The government, which manages its national currency with a tight fist, also frowns on…
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