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Ethereum Merge Could Shine Light on Chinese Mining Influence, Says VC
14.9.2022
CEO of venture capital firm Sino Global Capital, Matthew Graham, weighs in on Ethereum’s upcoming Merge and what the “seminal” moment may reveal about Chinese miners on CoinDesk TV’s “First Mover.”
Chinese mining giant Canaan doubles profits despite the blanket crypto ban
18.8.2022
The Chinese crypto miner maker Canaan has been expanding its mining business, accumulating a total of 346.84 BTC by the end of June
Russia Gets Bulk of Chinese Mining Machines Amid Miners’ Exodus, Report Reveals
25.11.2021
China’s crackdown on its crypto mining sector, launched earlier this year, caused a massive migration of mining enterprises to friendlier jurisdictions. Miners have been moving enormous amount of coin minting hardware to new bases around the world, with Russia reportedly taking the largest...
While Chinese Bitcoin Miners Escaped Crackdowns, Sichuan’s Hydropower Plants Were Not So Lucky
2.8.2021
Regional reports from China indicate that government officials have been reviewing over 5,100 small-sized hydropower plants in order to get them to adapt to China’s cleanup and rectification process concerning future energy sources. China has pledged to be carbon neutral and ultimately have...
Chinese Miners Pivot to Alternative Currencies to Keep Operating
24.7.2021
The Chinese mining crackdown forced many miners to stop their operations and relocate. But another group of miners is planning to pivot to new, more efficient mining schemes to keep operating in the country. Lesser-known tokens and proof-of-stake-based systems are now in the sights of these miners...
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....
Report: Document Shows Specific Bitcoin Miners in Xinjiang Instructed to Shut Down
9.6.2021
An official notice stemming from the Changji prefecture government in Xinjiang details that officials from the Zhundong Economic-Technological Development Park must instruct bitcoin miners to shut down. China’s province of Xinjiang is a highly concentrated region of bitcoin miners and bitcoin...
BTC Mining Devices ‘Out of Stock’ Worldwide- 6 Chinese Mining Rig Makers Dominate the ASIC Industry in 2021
23.5.2021
While bitcoin prices have slid in value and the high network difficulty, the leading crypto asset is still quite profitable to mine according to current data. Despite the profitability, these days there are only a few manufacturers producing application-specific integrated circuit (ASIC) machines....
Chinese Internet Cafe Owners Deal With the Pandemic Crisis by Using Their Facilities to Mine Cryptocurrencies
20.5.2021
The Coronavirus pandemic has driven people to take advantage of new business lines to deal with the economic crisis, and cryptocurrency is once again a headliner. Internet cafe owners in China are using their facilities to set up crypto mining farms after temporarily shutting down in 2020. Owners...
Chinese mining pools’ hash power plummets amid regional blackouts
16.4.2021
Blackouts for safety inspections in China’s Xinjiang region have significantly impacted the hash rate of many top Chinese Bitcoin mining pools
Chinese Lottery Firm Rebrands, Purchases Bitcoin Mining Rig Manufacturer for $100 Million
8.4.2021
Following the acquisition of the Chinese mining pool Btc.com, the China-based lottery company 500.com revealed the purchase of a bitcoin mining rig manufacturer Bee Computing. The Shenzhen firm purchased the semiconductor and mining device manufacturer for roughly $100 million in a share exchange...
Bitcoin Miners Strain Under Semiconductor Supply Crunch, Second-Hand Mining Rig Prices Soar
30.1.2021
Bitcoin mining rig manufacturers are dealing with a semiconductor supply crunch according to regional reports stemming from China. There’s been a global semiconductor supply shortage and it’s affecting nearly every type of business in the supply chain that manufactures cars,...
Nasdaq-Listed Crypto Firm Sued, Accused of Defrauding Investors With Fake Bitcoin Mining Business
24.1.2021
A class-action lawsuit has been filed against a Nasdaq-listed bitcoin mining company. The suit cites a report claiming that the business is “completely fraudulent,” with nonexistent bitcoin mining operations. Lawsuit Alleges Crypto Firm’s Bitcoin Mining Business...
Legal Battle Between Bitmain Co-Founders Appears to End With Micree Zhan Taking Control of the Company
28.12.2020
The long-lasting legal battle between co-founders of China-based Bitmain seems to have seen the light at the end of the tunnel after both parties agreed to reach an agreement. Legal Tussle Between Bitmain Co-Founders Reportedly Ended With a $600 Million Compensation for Jihan Wu According...
Core Scientific Buys Over 58,000 Bitmain S19 Antminers to Expand Its Hosting Fleet in North America
22.12.2020
A major North American blockchain hosting provider announced its expansion by ordering over 58,000 additional S19 Series Antminers, as part of an agreement arranged with the Chinese mining hardware manufacturer. US Contract Miner Core Scientific Arranges Purchase of Over 58,000 Bitmain...
Mining Rig Makers Race to Create Next-Gen Ethereum Miner Before Staking-Only Kicks In
21.12.2020
The Ethereum network’s 2.0 transition has pushed the protocol to become one of the largest staking networks in the world with 1,683,905 ether locked into the contract worth $1 billion today. According to reports from China, while proof-of-work ethereum miners have two years left to mine...
Marathon Purchases 10,000 Bitcoin Miners, Machines Will Max Out 100 Megawatt Montana Facility
10.12.2020
On December 9, the Nasdaq-listed cryptocurrency mining company, Marathon Patent Group, announced the firm is purchasing 10,000 Antminer S-19j Pro units from the Chinese mining manufacturer Bitmain. According to Marathon, after the acquisition of next-generation bitcoin miners, the company will have...
Chinese Mining Rig Manufacturer Microbt Announces Offshore ASIC Factory
27.9.2020
On Friday, China-based bitcoin mining rig manufacturer Microbt announced plans to create an offshore facility that produces the company’s Whatsminer devices and parts for North America. The firm revealed the expansion news when it announced a recent partnership with the New York-based Foundry...
Chinese mining giant Canaan announces $10 million share buyback
8.9.2020
Canaan will try to drive up its Nasdaq-listed stock from the $2 price mark
Chinese Bitcoin Miners Develop Strong Relationships and Crypto Mining Facilities in Iran
14.8.2020
During the last few months, crypto proponents have focused their attention on Iran. The Iranian President Hassan Rouhani initiated a new mining strategy last May, and the government-licensed 14 bitcoin mining farms in July. According to the Chinese mining operation Lubian, it claims to operate...