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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 in Five Chinese Provinces Despite the slide, the … Read more
On Sunday, Tesla’s CEO Elon Musk tweeted that when there’s “confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions.” However, there’s a big problem with this goal, as nobody knows exactly how to measure 50% clean energy usage let alone precisely where miners are geographically … Read more
China has the largest concentration of bitcoin miners worldwide with estimates noting the country captures anywhere between 50-65% of the global hashrate. Xinjiang, the autonomous region of the People’s Republic of China, ostensibly accommodates 35% of the hashrate. This week a regional report from China and statements from the head of operations at Genesis Mining, … Read more
Kazakhstan has proposed legislation that would see a 15% tax imposed on bitcoin mining firms. This is part of efforts to raise money to help with the fight against the coronavirus pandemic. Proposed by the country’s Ministry of Economy, the new tax plan requires bitcoin (BTC) miners to first file an application for registration with … Read more
A new report by crypto research company Bitooda claims that China accounts for only 50% of global Bitcoin mining capacity, and the U.S. 14%. The data is in sharp contrast with earlier findings from the University of Cambridge Centre for Alternative Finance (CCAF), which put China’s share of the world hash rate at 65% and … Read more
During the first week of March, news.Bitcoin.com reported on a $65 million investment into the ‘behind-the-meter’ bitcoin mining operation, Greenidge Generation LLC in Dresden, New York. The Greenidge plant operates 7,000 bitcoin miners and on April 8, the firm revealed the sale of 106 petahash of hashpower to an undisclosed buyer. The purchase is considered … Read more
