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China’s Qinghai Province Instructs Bitcoin Mining Operations to Shut Down
10.6.2021
Following the report that indicates specific Chinese miners in the Xinjiang region were told by officials to shut down, another agency in Qinghai has informed miners to cease operations in a recently published government mandate. Similarly, the Qinghai Industry and Information Technology...
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...
Shanghai Man: 'Green-light' for miners? CZ not responsible for BSC, Uniswap frauds on TV
4.6.2021
CZ claims Binance didn’t really make Binance Smart Chain, Beijing to distribute $6.2 million in free digital yuan, and miners speak out about clean energy mining
Sichuan Energy Meeting Offers Glimmer of Hope for Bitcoin Miners
3.6.2021
Th Xiluodu Dam and Hydroelectric Power Plant. Source: Adobe/contributor_aerial
There appears to be a ray of positivity for Chinese Bitcoin (BTC) miners, after a meeting of energy stakeholders in the province of Sichuan appeared relatively sympathetic to the miners’ cause.
Per a report from...
Sichuan Energy Officials Plan to Meet in June to Discuss Bitcoin Mining Implications
31.5.2021
Ever since government officials in China started talking about cracking down on bitcoin mining and reiterating crypto guidelines from 2017, digital currency proponents and the media have been focused on this region. Just recently, a Chinese state-backed online publication revealed that the Sichuan...
Chinese Firm Invests $25 Million in ‘Cryptocurrency Mining Data Center’ in Texas
21.5.2021
On Wednesday, the firm Bit Mining Limited, formerly known as 500.com, announced it has entered into a binding investment in a cryptocurrency mining data center located in Texas. The binding investment worth $25 million is with Dory Creek, LLC as the two companies will construct and operate a 57.2...
Bitcoin Hashrate Slides- Low BTC Prices, Sichuan Wet Season, Upcoming Difficulty Spike to Blame
20.5.2021
While bitcoin prices plummeted this week, the network’s hashrate has also dropped considerably since tapping a high on May 9. Since then, the hashrate has seen swings between 10-15% because of the crypto market downturn, alleged issues with alleged power outages in Sichuan, China, and...
Report: China’s Bitcoin Hashrate Dominance Dives, ‘North America Could Steal the Lead’
10.5.2021
A newly published regional report shows that China’s hashrate has likely dropped to 55% while the U.S. has climbed to 11%. Another study predicts that it’s possible North America could overtake China in terms of hashrate by the end of 2021. Bitcoin Mining Farm Operator Says Mining...
China’s Carbon Neutral Stance Puts Pressure on BTC Miners, Sichuan Electricity to Increase 150%
24.4.2021
Bitcoin’s global hashrate dropped ten days ago following a coal mine accident that caused significant grid blackouts in Xinjiang, China. While initial estimates had shown more than 40% of the hashrate dropped, statistics from a five-day average show the hashpower only lost around 25%....
Bitcoin Hashrate Drops Over 45%, Xinjiang Grid Blackouts Blamed, BTC Price Slides 10%
18.4.2021
Since April 15, the Bitcoin network hashrate has dropped more than 49% after touching an all-time high at 218 exahash per second. Regional reports noted that in China the Xinjiang grid is having blackouts and “safety inspections.” Reports Claim Blackouts in Xinjiang, China Have Pushed...
China’s Inner Mongolia Plans to Shut Down Bitcoin Mining Operations by April This Year
2.3.2021
Inner Mongolia, an autonomous region in northern China, is planning to shut down all cryptocurrency mining activities in the area by April 2021, as part of efforts to improve energy efficiency. Regulating the Electrical Consumption in Inner Mongolia The government of Inner Mongolia will also stop...
Mempool Clog: Bitcoin Hashrate Drops 40%, Backlog Shows Over 100K Unconfirmed Transactions
29.10.2020
The Bitcoin network hashrate has dropped significantly over the last four days sliding from a high of 161 exahash per second (EH/s) to 90 EH/s on October 27. Today, the Bitcoin hashrate has improved a hair as the network’s security is currently hovering around 100 EH/s. However, the mempool...
BTC hash rate slumps amid seasonal miner migration in China
27.10.2020
Analysts are anticipating Bitcoin’s second-largest negative difficulty adjustment of the year following the end of Sichuan’s rainy season
Sichuan’s Blockchain Park: Chengdu Government Officials Welcome Bitcoin Miners
2.9.2020
In mid-August officials from the Chinese province of Sichuan approved a number of enterprises that mine bitcoin for legal hydropower consumption in the region. Following the local government of Ya’an city deciding to foster mining, officials from Chengdu recently spoke about welcoming crypto...
Official Notice Says Cheap Electricity to End for Inner Mongolian Bitcoin Miners
26.8.2020
Regional reports say that officials from Inner Mongolia delineated 21 bitcoin mines, as the region plans to stop subsidized electrical rates for certain data firms. Unless the bitcoin mining facilities pack up and migrate, mining farms may see an electrical price increase by one third. The Chinese...
China’s Bitcoin Mining Industry Impacted the Most This Year, Says Report
20.8.2020
The researchers and analysts from Tokeninsight published it’s “2020 Q2 Cryptocurrency Mining Industry Report” which shows the industry has grown exponentially during the last six months. The findings indicate cryptocurrency mining has expanded a great deal but China’s...
Excessive Flooding in Sichuan Causes 20% Hashrate Losses for Chinese Bitcoin Miners
18.8.2020
Torrential downpours of nonstop rain have been wreaking havoc in China’s Sichuan province, which has caused some operations to shut down ASIC mining devices. Reports from the region show that certain areas have seen electrical shortages and the aftermath is causing quite a bit of stress...
Sichuan Officials Continue to Foster the Relationship Between Bitcoin Mining and Hydropower
18.8.2020
The province of Sichuan is well known for being one of the largest concentrations of bitcoin miners on earth because electrical costs are extremely cheap in the region. Data shows that miners using hydropower in Sichuan are paying between 0.065-0.075 yuan or $0.01 per kilowatt-hour. According...
Flooding Threatens China’s Bitcoin Miners, Chinese Billionaire Says ‘Three Gorges Dam Collapse Imminent’
5.8.2020
This week cryptocurrency enthusiasts are still focused on the severe flooding in China during the 2020 monsoon season. The flooding has already displaced millions of Chinese citizens and skeptics are concerned about the vast number of bitcoin miners located in the Sichuan province. The landlocked...
2020 Monsoon Season and Dam Stress Threatens Chinese Bitcoin Miners
24.7.2020
Digital currency proponents have been discussing the 2020 monsoon season in East Asia and how there’s a possibility it could wreak havoc on large bitcoin mining operations located in China. Recent estimates note that China has 50% of the world’s bitcoin mining capacity but if mining...