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Tag Archives: Bitcoin

China’s COVID Lockdown Made Tesla Sell Bitcoin Holdings, CEO Says

Jul 22, 2022

Olusegun Ogundeji

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...

Meitu Announces Yet Another Impairment Loss on Crypto Investment

Jul 4, 2022

Olusegun Ogundeji

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...

Canaan in Record Over 200% YoY 2021 Sales Increase

Mar 4, 2022

Olusegun Ogundeji

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

Olusegun Ogundeji

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...