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Bitmain’s China Operation More Than Halved Since Crypto ban, According to Estimate

Jan 17, 2022

Bitmain may have reduced its manufacturing capabilities in China by 50-70% since the crypto ban, according to Luxor Mining estimate. In its latest hash rate index, Luxor which provides analysis, data, and hash rate insights, notes that China’s entrenched application-specific integrated circ...

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China Officially Adds Crypto Mining to Elimination Category

Jan 10, 2022

The Chinese government has officially included cryptocurrency mining in its list of industries that should be eliminated. China’s state planner, the National Development and Reform Commission (NDRC), in its communication No. 49 dated December 30, 2021 but made public this week, notes t...

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Canaan, Bitmain Record More Miner Deployments to Lead Supply

Jan 6, 2022

Regardless of China's ban on crypto-related mining activities within its borders, top miner makers in the country continue their drive to meet market demands and sustain their operations. Canaan this week announced the deployment of another 8,000 Avalon Miner units for its joint mining opera...

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How Secret Bitcoin Miners Elude The Government in China

Dec 21, 2021

Contrary to earlier reports that cryptocurrency mining has been eliminated from China, recent data shows that up to 20% of the global Bitcoin hashrate is still resident in the country. Even though this is a significantly lower value than the number before the implementation of the 2021 cryptocur...

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China’s Crypto Mining ban Sets Stage for Bigger Global Power Capacities in 2022

Dec 17, 2021

The Block’s 2022 Digital Asset Outlook Report has attributed a setting of the stage for bigger global hash power capacities in the coming year to China’s crackdown on crypto mining activities within its borders this year.  The annual analysis points out that the Chinese government ban...

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China’s Yunnan Province Saves 2Billion KWh by Eliminating Bitcoin Mining

Dec 14, 2021

Escalated efforts in 2021 towards the clampdown on cryptocurrencies are returning impressive results for the Chinese government. Some key milestones have been achieved with results that are evident based on results from the country. One of the latest achievements towards the elimination of cr...

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Bitcoin Hash Rate Nears Full Recovery From Chinese Clampdown Impact

Dec 9, 2021

Six months after falling to significantly low levels, the global hash rate of the Bitcoin network has made a full recovery. Following a clampdown on the industry by China, Bitcoin mining companies were forced to shut down operations. This resulted in a collapse of the network’s hash rate, whi...

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China Targets Crypto Miners With Electricity Price Hike

Dec 6, 2021

The Chinese province of Hainan has increased the price of electricity to $0.13, equivalent to 0.8 yuan per kilowatt-hour for cryptocurrency mining operations within its region. This is an extension of actions previously taken by the Chinese central government in this direction.  It is reca...

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Canaan in Best Single Quarter, Kickstarts Joint Mining Operations in Kazakhstan

Nov 22, 2021

Following its reported revenue increase in Q3, Canaan says it has completed the successful delivery of over 2,000 Avalon miner units in Kazakhstan to kickstart its joint mining operations with its top three customers authorized by the Central Asia country’s Ministry of Energy. The supe...

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Chinese Mining Companies Continue Shift to North America

Nov 15, 2021

Despite a ban on related activities on their home turf, Chinese companies remain attracted to the crypto mining trade hence their quest to continue pursuing the interest even outside the shores of China. Beijing has driven out most of China’s cryptocurrency mining activities this year ...