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Crypto miner claims all major Yunnan operations shut down in advance of CCP anniversary
30.6.2021
It's unclear if the shutdowns are due to orders passed down from above or the result of China's announced regulatory crackdown on crypto miners
Hydropower Stations Up for Sale Amid China’s Crackdown on Crypto Mining
30.6.2021
Small hydropower plants have been put up for sale in China as demand for their cheap energy decreases following the government’s crackdown on crypto miners. Just as with mining rigs, their prices have been going down, leaving owners with limited options to recoup their investments. Ads...
Chinese hydropower plants on sale as crypto miners move abroad
29.6.2021
Advertisements for small-scale hydro plants have reportedly surged on Chinese secondhand e-commerce platforms
Myriad Proof-of-Work Blockchains See Significant Hashrate Losses
29.6.2021
While there’s been a lot of concentration on bitcoin mining crackdowns in China and Bitcoin’s recent hashrate loss on Monday, many other digital assets have seen hashrates drop significantly as well. Some of the largest digital currencies, in terms of market valuation, lost considerable...
Jefferies’ Equity Strategist Expects Accommodating US Crypto Regulation Unlike China’s Authoritarian Model
29.6.2021
The head of global equity strategy at Jefferies, an investment bank and asset management firm, says that cryptocurrency regulation in the U.S. would “ultimately be very positive” for bitcoin or other crypto assets. It will also be more accommodating than China’s authoritarian...
Huobi Prohibits Chinese Residents From Leveraging Cryptocurrency Derivatives
28.6.2021
The Seychelles-based cryptocurrency exchange originally founded in China, Huobi, has officially banned Chinese residents from swapping cryptocurrency derivatives, according to the company’s revised user agreement. China is now listed as prohibited and residents from the country are forbidden...
Chinese Banks Received $1t in Forex Deposits in May
25.6.2021
According to the People’s Bank of China’s announcement, foreign exchange deposits in China have crossed the $1 trillion mark for the first time. Economists believe that this will give the Chinese government a lot more freedom to allow the outflow of capital from the country. A major reason for this...
Chinese Mining Exodus Leads to ASIC and GPU Second-Market Surplus and Lower Prices
24.6.2021
While bitcoin miners in China have been scrambling, second-hand markets offering cryptocurrency mining rigs from ASICs to GPUs have been exploding with an excess surplus. Additionally, the ASIC manufacturer Bitmain suspended machine sales on Wednesday, ceasing international spot deliveries....
Chinese crypto mining firm Canaan sets up shop in Kazakhstan amid crackdown
23.6.2021
Canaan has started mining Bitcoin with its latest Avalon Miner units in Kazakhstan after setting up a service center in the country earlier this month
Chinese Bitcoin miners ‘not even in the mood to drink anymore’
23.6.2021
Many Bitcoin miners in China are down with the blues as Beijing forces several operations to go offline
As China Cracks Down on Bitcoin Miners, Stealth Miners and Mystery Hashrate Return
22.6.2021
While on the surface it seems officials from five provinces in China have been cracking down on bitcoin miners, no one is quite sure how much hashrate is moving, which pools are affected, or where these miners will end up. A number of mining pools have seen hashpower percentages decline...
Bit Mining Moving 3,000 Bitcoin Mining Machines to Kazakhstan Following China Crackdown
22.6.2021
Shenzhen-based Bit Mining has started shipping bitcoin mining machines to Kazakhstan as the Chinese government cracks down on bitcoin mining operations in the country. Bit Mining Ltd., a mining company based in Shenzhen, announced Monday that “it had successfully delivered its first batch...
Facebook’s David Marcus: China’s Bitcoin Mining Crackdown ‘Great Development’ for BTC
22.6.2021
David Marcus, head of Facebook Financial (F2) who is in charge of crypto project Diem, formerly Libra, believes that the Chinese government cracking down on bitcoin mining is “a great development” for the cryptocurrency. Many people in the crypto space agree with him. Facebook’s...
Mad Money’s Jim Cramer Dumps His Bitcoin Over China Mining Crackdown and Ransomware Concerns
22.6.2021
Mad Money host Jim Cramer said he has sold almost all of his bitcoin. He cited the Chinese government’s crackdown on bitcoin mining and concerns over bitcoin’s role in ransomware attacks. Jim Cramer Worried About China’s Mining Crackdown and Ransomware, Sold Almost All His Bitcoin...
PBOC Instructs China’s Banks to Forbid All Cryptocurrency Related Activities Immediately
21.6.2021
China’s central bank has sent notice to the country’s financial institutions instructing them to stop dealing with cryptocurrency transactions. The disclosure notes that the People’s Bank of China (PBOC) aims to protect Chinese citizens and “combat the speculation of Bitcoin...
Bitcoin Continues to Suffer Amidst Chinese Crackdown
21.6.2021
The crackdown by the Chinese authority on Bitcoin mining has resulted in a considerable fall in the value of the largest cryptocurrency by market capitalization. According to the latest reports, Bitcoin suffered a negative growth of 5.5% and fell to $34k on Sunday. The negative impact on the value...
Chinese Big-four Bank to Crack Down on Crypto, Will ‘Report’ Offenders
21.6.2021
One of China’s biggest commercial banks, the Agricultural Bank of China, said it will crack down on crypto transactions, and will seek to block accounts connected with bitcoin (BTC) and crypto-related activity.
The bank has issued a terse and short statement on the matter, which was published...
Bitcoin hashrate hits 8-month low as Chinese miners power down
21.6.2021
Bitcoin’s hashrate plummets to roughly 91 EH/s as Sichuan miners close up shop
Bitmain Reveals New Scrypt Miner — Model Mines DOGE and LTC Four-Times Faster Than Today’s Top Machine
20.6.2021
Regional reports from an exposition in Chengdu indicate Bitmain has unveiled a new scrypt ASIC rig for dogecoin, litecoin, digibyte, and verge mining. The Chinese reporter who disclosed the information says the new Bitmain model has a hashrate of around 9,500 megahash per second (MH/s) and overseas...
Figuring Out How Much Bitcoin Hashrate Resides in Mainland China Still a Mystery
19.6.2021
Over the last few weeks, there have been many reports about crackdowns in China tied to bitcoin mining operations in various provinces. 30-day statistics show the hashrate has been fluctuating wildly, and across the last week it has slid downward roughly 26%. Reports Show Bitcoin Mining Crackdowns...