Chinese authorities have seized nearly 7000 crypto mining machines that are illegally consuming electric power, really hope this won't affect bitcoin in any way? And why are people doing this? Prove of staking is a better option and no one will ever know you are mining anything, i am not saying POW miners are bad but illegally? Come on! It's not worth taking such risk when they know they can be caught, they can earn same profits from Staking
Full news is right here
https://cointelegraph.com/news/chinese-authorities-confiscate-nearly-7-000-crypto-mining-machines wow, this will definitely affect Bitcoin's supply and its price in the near future. Actually, mining is legal for the crypto market in China but it seems that the owner of this business did not explicitly declare its form and led to the incident as it is now.
Staking is one of the most profitable investments right now, but staking is happening at quite a few alts with an unstable price. So if the market is down, we do Staking, it will be much risky than making PoW.