China mining ban announcement by April - Bitcoin surges 9%

China's Inner Mongolia will end all cryptocurrency mining projects and stop reviewing new projects in industries which consume large amounts of energy, as it attempts to meet energy efficiency targets. All cryptocrurrency mining projects - which require huge amounts of computing power and hence use large amounts of energy - will be shut down by the end of April this year. Inner Mongolia is an attractive "mining" spot alongside Sichuan and Xinjiang due to low electricity prices.

The region accounted for 8% of bitcoin mining computing power worldwide, China overall, accounted for 65% of the total!!!!