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. ...

China Intensifies Hunt For Hidden Cryptocurrency Miners

Sep 21, 2021

Although the Chinese authorities claim to have rounded up their clampdown on cryptocurrency activities, the search for cryptocurrency miners continues. According to reports, this search is targeted at fishing out the individuals and corporations that may be carrying out crypto mining activities u...

After China, Bitcoin Miners Earned 35,065 BTC in August

Sep 10, 2021

Bitcoin miners’ earnings peaked at 35,065 BTC in August as exiled miners from China continue their search for new operation bases, according to the latest Luxor hashrate index.  The result shows a rise of up to 23% from July's, 33% from June, and up 15% from May. Hashrate grew by a...

Bitmain Hires TSMC to Produce ASICs Using Its N5 Technology

May 10, 2021

The huge price increase most cryptocurrencies have experienced since the beginning of the year has made cryptocurrency mining one of the most profitable industries today. As the prices of Bitcoin and Ethereum reached their all time highs, miners began turning insane profits that haven’t been se...

China’s Bitcoin Mining Dominance is Dropping

May 7, 2021

China is gradually losing its grip as the dominant hashrate custodian for Bitcoin as new miners have started setting up rigs in other parts of the world. Some of the originally resident miners in China are also relocating.   Right from the early days, most of the network effect that sustai...

Bitmain Co-founder Jihan Wu Says More Institutions Are Going Into Cryptocurrency Mining

Apr 23, 2021

Jihan Wu, the co-founder of Bitmain, the world’s largest Bitcoin mining hardware manufacturer, recently spoke at an online event where he shared his thoughts on the cryptocurrency mining industry. The conference was hosted by BitDeer.com, a global leader in digital asset mining and cloud ser...

China Crypto Roundup (Apr. 12-Apr. 18)：China Bought Most DOGE, Bitcoin Computing Power Plummeting

Apr 19, 2021

1. Canaan shares plunged 29%! Last year, it had revenue of $450 million and a net loss of $220 million On April 13, Canaan Technologies (NASDAQ: CAN), the first stock of bitcoin miners, released unaudited financial results for the fourth quarter and full year of 2020. According...

Ebang Announces the Launch of a New 6 NM Bitcoin Mining ASIC Chip

Mar 19, 2021

One of China’s leading manufacturers of cryptocurrency mining hardware has announced the launch of a completely new chip that will offset its previous models both by hash rate and efficiency. According to a press release published on March 17th, Ebang, China’s second-largest ASIC-chip ma...

Xinyuan Technology Buys 580M Yuan Worth of Filecoin Miners

Mar 19, 2021

Xinyuan Technology Co., a computer hardware company based in Shenzhen, has just signed a huge deal with Sesumg, a Jiangxi-based electronic component manufacturer. According to a report from AI Express, Xinyuan announced that they have signed a sales contract for a “Distributed Storage ...

Global Shortage Of Microchips Is Taking A Toll On Chinese Bitcoin Miners

Jan 27, 2021

There is a global shortage of computer chips, and this is posing a problem for many Chinese Bitcoin miners and miners of other cryptocurrencies as well. This is happening at a time when there is a significant increase in the price of Bitcoin, particularly as a result of increased participation ...