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. ...

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...

Carbon Emission Risen Since China’s Crypto Mining Ban – Study

Mar 4, 2022

China’s exit from the cryptocurrency mining space may not have abated the carbon footprint left behind by the industry, a new study has suggested. Rather, it has increased the emission since China - which used to have the largest concentration of crypto miners - banned related activities last ye...

Bloomberg Doesn’t Expect U.S. to Follow China on Crypto Ban, Sees Bitcoin at $100,000

Feb 7, 2022

Though crypto regulation and enforcement are ramping up globally, a new Bloomberg Crypto Outlook report does not expect the U.S. to follow China with a ban on cryptocurrency. After the Chinese government's ban on crypto-related transactions last September, there has been an industry-relat...

Top Exchanges To Go On With Total Exit Plans From China On December 31st

Dec 27, 2021

Top cryptocurrency exchanges have reiterated their exit plans from China by the end of 2021. For most of them, December 31st, 2021 will mark the end of services for customers from China. This move became necessary after the rigorous approach taken by the Chinese authorities towards ensuring a...

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...

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...

Chinese Government Seize BTC ETH USDT in Crypto Crackdown

Nov 23, 2021

The government of China has continued with the enforcement of the ban on cryptocurrencies. The enforcement has been diligent, leaving no stones unturned. Any venture that is crypto-related discovered by the government to operate within the borders of China immediately faces the wrath of the law...

The Main Reason Behind China’s Crypto Ban

Oct 26, 2021

China banned the use of Bitcoin and other cryptocurrencies within its financial system and geographical space. Not only did it ban the use of cryptocurrencies, but it also moved to put a stop to all activities related to the new technology, including cryptocurrency mining and trading. While t...

Evergrande Crypto Crisis in China Hurts Crypto Market

Sep 23, 2021

Bitcoin price fell below $40K for the first time since August along with other cryptocurrencies. This drop appears to be contagion from the falling equity market, amidst fears that Chinese real estate giant Evergrande could slide into bankruptcy.  Evergrande, at the time of writing, remai...