Commentary Beijing’s broadening ban on cryptocurrency mining has—for now—crippled the industry and sent bitcoin prices collapsing. But as bitcoin miners move to other regions and countries, China’s recent action could usher a period of greater stability for the cryptocurrency. More diverse distribution of mining power and higher usage of renewable energy could also be in store. In late May, China’s State Council issued treatises to crack down on bitcoin trading and mining. The notices came after China’s central bank began implementing its own digital currency. The Chinese Communist Party (CCP) deems cryptocurrencies such as bitcoin a nuisance, disrupting economic order and facilitating illegal transfers of wealth. In addition, Beijing has decried the massive power consumption of bitcoin miners. Following the CCP’s call, several provinces and territories including Xinjiang, Inner Mongolia, and Sichuan, have begun enforcement measures to shut down mining operations. And this has sent bitcoin prices tumbling. Bitcoin prices …