Since most of the hashes is located in New York and Texas, if these state regulate to the extent of banning crypto mining in large quantities, it will have a huge impact on the cryptocurrency.  Imagine a sudden huge decrease in hash will affect the bitcoin performance since the difficulty needs two weeks to readjust.  During those time it would be hard for the Bitcoin hashrate to solve blocks due to very high difficulty in ratio to the existing hash rate after mining farm in the two state close.

Second it also affect miners since they need to relocate which may result in increase energy consumption and maintenance costs for those miners.  It also affect the economy of the state and employment  of people that works on that sector.  More or less it will have a negative impact on the sector stated if ever the two states implement ban on crypto mining in large quantities.