Chinese Mining

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Chinese Mining Exodus Leads to ASIC and GPU Second-Market Surplus and Lower Prices

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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. Official Crypto Mining Rig Dealers Are Either Sold-out or Suspending Deliveries, Second-Markets Explode With Mining Products … Read more

Report: Document Shows Specific Bitcoin Miners in Xinjiang Instructed to Shut Down

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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 activities at the park must cease by June 9, according to the document. Nevertheless, … Read more

BTC’s Hashrate Touches 120 Exahash, But the Price Has Not Followed

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On January 1, the BTC network hashrate touched an all-time high at close to 120 exahash per second (EH/s). Despite the crypto market lull and lower BTC prices, the 2020 milestone happened just before the blockchain’s 11th anniversary. BTC’s curious jump in hashrate has the cryptosphere wondering whether or not the price truly follows hashpower. … Read more

Despite Lower Prices, Bitcoin’s Hashrate Remains Strong

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People watching cryptocurrency markets have been patiently waiting for prices to rise and the overall sentiment to change. However, one thing that’s been extremely bullish these days is how BTC’s hashrate has doubled in the last three months. Even with today’s sluggish crypto prices, the SHA-256 hashrate has remained unscathed and continues to show persistent … Read more

Bitmain’s Nishant Sharma Talks China and Crypto in the Humans of Bitcoin Podcast

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This week on the Humans of Bitcoin podcast host Matt Aaron chatted with Bitmain’s Nishant Sharma who shared his story and discussed the western hemisphere’s false impressions of China and Bitcoin. During the interview, Sharma conversed about his work with Bitmain, one of the largest cryptocurrency companies in the world, and addressed some of the … Read more

The Daily: Fake Trezor Website, Floods Take Out Mines, and New Crypto Investments

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Among the stories from around the cryptosphere featured in today’s edition of Bitcoin in Brief are a fake Trezor wallet website and floods in China that reportedly took out enough mining farms to make a dent in the global hash rate, as well as a couple of new investments in the field. Also Read: Cryptojacking … Read more

Bitcoin in Brief Thursday: Bitcoin Supporter Might Be Next NY Attorney General

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Good news for American bitcoin companies, someone who wants much lighter Bitlicense regulations is in the running to be the next New York attorney general. And in China, a bitcoin mining hardware producer is planning a $1 billion IPO. These stories and much more in today’s edition of Bitcoin in Brief. Also Read: Stripper Explains … Read more

Chinese Government, Central Bank Continue Crackdown on Cryptocurrency Trading

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Chinese officials have continued their campaign against cryptocurrency interest in their country with a renewed effort to restrict public access to popular trading methods. Most recently, the People’s Bank of China (PBOC) proposed more stringent limitations that would build on regulations enacted in September of last year. Centralized and Cross-border Trading? Big Brother Says No Way … Read more

Classic Mainstream Media Clickbait Scare Resurfaces: ”Chinese Government Can Take Over Bitcoin”

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The latest story (again) on mainstream media meant to scare away uninformed people from using bitcoin is about the possibility of China taking over the cryptocurrency. This particular FUD (fear, uncertainty and doubt) meme was also publicized widely in 2015 and 2016. Also Read: The Psychology of the Cryptocurrency FOMO-FUD Cycle Has Been Weaponized Scare … Read more