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Canaan Sells More Computing Power in Q1 2022, Expects Better Mining Market in Q2

May 22, 2022

Despite starting the year in "an increasingly unpredictable environment" due to macroeconomic uncertainties and logistic disruptions caused by the COVID-19 pandemic, China-based chip producer, Canaan, says it recorded an increase of 119.1% in total computing power sold in Q1 2022 as comp...

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China Staging A Comeback to Bitcoin Mining, Carbon Emission Target Shaky

May 18, 2022

China may have been gone for a while but is back in the Bitcoin mining fold, as the Cambridge Centre for Alternative Finance (CCAF) has shown with its new mining map data. Covering September 2021 to January 2022, the CCAF states that the US grew to be responsible for producing 37....

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Data Shows That Bitcoin Mining Continues to Thrive in China Despite Ban

May 17, 2022

Recent reports reveal that China retains the second spot in the rank of nations with the highest hash rate in Bitcoin mining. This is a contradiction to the assumed and somewhat expected outcome, considering the anti-cryptocurrency campaign that was carried out in the country for most of 2021. ...

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ASIC Mining Prices Back at China Mining Ban Level 

May 14, 2022

Hash price from application-specific integrated circuit (ASIC) mining has returned to the post-China mining ban level following the prolonged bearish state of the crypto market which is devastating the Bitcoin price. According to Luxor Mining, which regularly provides industry-related a...

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ASICs’ Prices in 13-Week Freefall

Apr 25, 2022

Data from Luxor Mining, a crypto mining analysis, data and hash rate insights provider, shows that last week made it the thirteenth week in a row that prices for ASICs of the three efficiency tiers have been falling. As at April 20, the under 38 joules/TH ASIC tier was at $77.15/...

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New York on Track to be First US State to Ban Crypto Mining for PoW Use

Apr 25, 2022

Crypto mining companies in the state of New York may be the first to be subjected to similar opposition faced in China where most miners were based until 2021.  The state's Senate seeks to establish a moratorium on cryptocurrency mining operations that use energy-intensive proof-of-work (...

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Crypto Mining: US Seeks Comments on Good, Bad for Climate

Mar 28, 2022

Perhaps as a way to forestall a repeat of what happened in China, a U.S. agency has called for public opinion on the impacts of digital assets mining activities. The Office of Science and Technology Policy (OSTP), put out a Request for Information (RFI) on the Energy and Climate ...

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Another Mining Hub Discovered in China, 190 Mining Equipment Seized

Mar 24, 2022

The campaign against cryptocurrency activities in China registered another milestone this week. A secret mining hub was discovered and 190 mining machines worth over $790K confiscated. The raid to discover this illegal installation was carried out in the Jieyang city of the Guangdong province...

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China Offers $25,000 Prize in Crypto Miner Identification Contest

Mar 16, 2022

The clampdown on cryptocurrency mining has been a major subject in China since the middle of 2021. Different approaches have been employed by the government authorities to clear out cryptocurrency mining activities from the region. The reasons for the clampdown include the quest for financial su...

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Canaan in Record Over 200% YoY 2021 Sales Increase

Mar 4, 2022

China-based chip producer, Canaan, has shown in its 2021 unaudited full-year financial results that it sold a total computing power of 22.3 million Thash/s which equates to a year-over-year increase of 238.5%. The huge leap from 2020’s 6.6 million Thash/s total sale - impacted by the global p...