Its both good and bad news :
The good - Bitcoin mining becomes much more decentralized as they are shipping those ASICs all around the world and to independent companies
While most mining in China was done with Green hydro , a subset was using dirty coal and those new mines elsewhere will have a 95% chance of being all green powered due to economic and efficiency reasons
The Bad- Short term it means that miners are likely selling most of their BTC on hand suppressing price due to being cash strapped due to having to temporarily shut down their miners and invest in new land/warehouses in other countries. (They are both selling their ASICs to 3rd parties and moving some of their private operations)