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Meet Kevin, officially running for Governor of California: China banning crypto mining is a multi billion-dollar opportunity for California

Bitcoin’s mining hashrate has hit a 13-month low following an increase in mining activity in China. The total hashrate on the bitcoin network currently stands at 101.9 TH/s. The last time the network had such a low hash rate was in early June 2020. However, Meet Kevin, who is officially running for Governor of California to replace Gavin Newsom, thinks this is an opportunity for California.

Meet Kevin support will facilitate cryptocurrency in California

The mining hashrate represents an important security metric for the blockchain. The more hashing power in the network, the more secure its overall resistance to attack is. The estimated hashing rate decline can strongly be attributed to the recent Chinese bans on Bitcoin mining. Bitcoin miners in China have already shut down mining operations, with the majority of them looking for greener pastures to continue mining Bitcoin.

meet-kevin-officially-running-for-governor-of-california-china-banning-crypto-mining-is-a-multi-billion-dollar-opportunity-for-california

Source: Blockchain.com

And given this situation, Kevin thinks that California should invite crypto miners to CA, incentivize solar and wind farms in new areas to supply clean, cheap energy to them, and catapult scaled production of green energy.

meet-kevin-officially-running-for-governor-of-california-china-banning-crypto-mining-is-a-multi-billion-dollar-opportunity-for-california

Meet Kevin Paffrath for Governor of California to replace Gavin Newsom

“One reason we lack enough green energy today is a lack of interconnection and we end up wasting/curtailing energy”, he added: “We can grow our economy AND energy sustainability with crypto mining, especially since mining can seize during peak demand hours.”

meet-kevin-officially-running-for-governor-of-california-china-banning-crypto-mining-is-a-multi-billion-dollar-opportunity-for-california

Source: Meet Kevin/Twitter

Accordingly, he also mentioned the potential of major cryptocurrencies like Bitcoin, ETH, or Cardano (ADA):

“Cryptoassets/virtual currencies have a future in our country. There’s a lot of work to do (lower energy costs, better education, prevention of scam-coins, some reasonable regulation esp. in stable coins, etc.). But folks: $BTC $ETH and $ADA aren’t going anywhere.” He also revealed that he is investing in them.

If Kevin really wins the election, his help will be very good for the cryptocurrency market.

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