Is this "mining city" in Russia going to go cold? A year-round mining ban has suddenly come! Is Bitcoin going to cool down?

Irkutsk Oblast, Russia — once considered a "mining paradise" by global miners, may now be shutting down completely. The local government has suddenly announced: starting from April 1 (this is not an April Fool's joke!), there will be a direct year-round mining ban, and it will last for at least ten years.

It's worth noting that electricity here is as cheap as it gets, and after Chinese miners left, Russians took over and thrived. Now, with this sudden harsh measure, it’s likely because the power grid can’t handle it — last year, there was a scandal involving miners stealing electricity, which caused blackouts in residential areas. **But a blanket ten-year ban? This move is colder than the Siberian winter.** If you ask me, instead of going at it blindly, it would be better to learn from Kazakhstan and implement a "miner’s license" system, which would earn money from electricity while regulating chaotic mining. Isn’t that appealing?

With the drop in hash rate and miners crashing the market, is Bitcoin going to cool down? $BTC