Share this on Twitter Share this on Facebook Share this on LinkedIn Share this on Sina Weibo Share this on Wechat Share this on LinkedIn Before the recent crackdown, bitcoin mining in China was expected to generate more carbon emissions than countries such as the Philippines or the Czech Republic. Credit: Marko Ahtisaari via Creative Commons Bitcoin advocates have long predicted the cryptocurrency’s rise would transform the world for the better. Twelve years on from its emergence, critics say the process of creating bitcoin is now doing quite the opposite — namely, endangering the world with its environmental impact. The issue has come to a head in China, which is home to nearly two-thirds of the world’s bitcoin mining, according to data for last year from the Cambridge Centre for Alternative Finance. In recent weeks, China has become the first major nation to move against cryptocurrency miners, acting partly on concerns that the highly energy-intensive process stands at odds with the nation’s ambitious climate targets. After China’s Vice Premier Liu He vowed to “crack down on bitcoin mining” in a speech in May, the northern province of Inner Mongolia — where about 8 percent of global bitcoin mining took place last year — followed suit with a raft of anti-mining policies, citing environmentalSubscribe or login to read the rest. Subscribers get full access to: Exclusive longform investigative journalism, Q&As, news and analysis, and data on Chinese business elites and corporations. We publish China scoops you won't find anywhere else. A weekly curated reading list on China from David Barboza, Pulitzer Prize-winning former Shanghai correspondent for The New York Times. A daily roundup of China finance, business and economics headlines. We offer discounts for groups, institutions and students. Go to our Subscriptions page for details.