“We had one of the biggest bitcoin operators in the world operating here and generated only a handful of jobs,” said Read, who was elected in 2016 and served one four-year term.
“So, maybe they can avoid with good planning some of the problems that we had to work out for ourselves,” Read said.
Crypto experts previously told CNBC that with more bitcoin miners going offline in the wake of the crackdown, other miners’ share of the bitcoin network will increase, which could make mining all the more lucrative.