Maybe I'm wrong, but the last time I looked, only Germany had a little more than 3% of the total hashrate, all other countries were far below 1%, so it didn't seem to me that such a ban would seriously affect the overall picture. Besides, who has any motivation to mine Bitcoin in the EU where electricity has always been expensive, and now that price is even higher?

I know that there are some projects in Italy (if I'm not mistaken) that use hydro energy from several small sources, and there are probably some more specific cases - but this whole POW ban thing will end up costing more than the effect it will have. When we know that the EU, under the pressure of expensive energy sources, began to turn away from its green initiative and put all the polluting industries into operation, we can rightly ask where all these bureaucrats find meaning in what they do...