Bookmarking Crypto Insights
Auto Added by WPeMatico
Authorized crypto mining businesses have already taken a third of their coin minting hardware out of Kazakhstan, according to the country’s mining association. The news comes amid electricity shortages and upcoming tax hikes that are turning miners away from the Central Asian nation. Bitcoin Miners Start Pulling Machines Out of Kazakhstan Companies, legally operating mining … Read more
Measures imposed by authorities to quell mass protests in mining hotspot Kazakhstan are affecting cryptocurrency markets and the Bitcoin network hashrate. To deal with the civil unrest caused by rising fuel prices and a worsening economy, the government restricted access to the internet and closed down local banks. Fears are rising that the turmoil may … Read more
With the government in Beijing cracking down on their operations, Chinese miners have been on the lookout for other jurisdictions. Providing low-cost energy, Iran has emerged as a prospective destination. However, the country’s state-owned power utility has expressed concerns over a possible influx of miners and illegal imports of mining hardware from China. Tavanir Warns … 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
China-based bitcoin miners have started to migrate southbound from North China, according to local reports. The operators are having difficulties and are transitioning mining facilities for cheap hydro-powered electricity. Testimonials also show that 64 mining operations in the prefecture in Yunnan have been threatened by local authorities. Sources say a hydropower station discharge sparked a … Read more
As tensions escalated between the U.S. and Iran in recent months, reports have detailed that Chinese bitcoin miners are looking to set up shop in Central Asia and more specifically in Kazakhstan and Uzbekistan. Last spring, Chinese bitcoin mining operations flocked to Iran for extremely affordable electric prices ($0.006 per kilowatt-hour) in the oil-rich nation, … Read more
Last month, news.Bitcoin.com examined the problem of quantitative easing (QE) and its impact on the U.S., and how such policies have spread to the rest of the world. This month, we continue to drill down on the phenomenon of governments printing trillions of dollars worth of fiat currency simply by pressing buttons on their computers. Value … Read more
The Reserve Bank of India (RBI)’s prohibitive policies regarding India’s cryptocurrency industry has reportedly comprised the catalyst for a migration of Indian cryptocurrency entrepreneurs in search of more amenable regulations. Also Read: Indian Ponzi Scheme-Funded Cryptocurrency Mine Raided by Police RBI Crackdown Drives Crypto Businesses Overseas The crackdown on cryptocurrencies initiated by the RBI has reportedly … Read more
