Tesla has sold off 75% of its Bitcoin holdings to bolster its cash reserves, the electric vehicle company has stated, citing the uncertainty surrounding the COVID-19 lockdowns in parts of China as the main factor for the action. “The reason we sold a bunch of our Bitcoin holdings was t...
The Meitu Group's board of directors has informed the company’s shareholders and potential investors that it has incurred yet another loss on its cryptocurrency investment. Due to the impairment it has suffered in its purchased cryptocurrencies, the Group's unaudited consolidated accounts for...
The anti-Bitcoin mining movement that started in New York seems to have gradually found its way to the centre of the U.S. government seat, Washington. Reports say the U.S. government is now working on policy recommendations to lower cryptocurrency mining’s energy consumption and emission...
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. ...
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...
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...
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 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...
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...
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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