Canaan in Best Single Quarter, Kickstarts Joint Mining Operations in Kazakhstan

Nov 22, 2021

Following its reported revenue increase in Q3, Canaan says it has completed the successful delivery of over 2,000 Avalon miner units in Kazakhstan to kickstart its joint mining operations with its top three customers authorized by the Central Asia country’s Ministry of Energy. The supe...

As ASIC Miners Are Set to Be More Expensive, Bitmain Unveils Newest Mining Rig

Nov 14, 2021

Bitmain has unveiled its newest machine, the Antminer S19XP. The manufacturer of the most popular brand for application-specific integrated circuit (ASIC) Bitcoin miners introduced the machine at its just-concluded World Digital Mining Summit 2021 which ended on Nov 10 in Dubai. ...

Q3 Sees Bitcoin Hashrate Rise Almost 50% Against Post-China Ban Lows

Oct 22, 2021

The Bitcoin mining industry has seen notable changes following China’s ban Including a 48% increase in Bitcoin’s hashrate over post-China ban lows, the Bitcoin Mining Council’s (BMC) Q3 report has shown. The finding forms a part of the survey results from 29 companies which is su...

US Bitcoin Mining Lead Over China Confirmed as Major Pools Shut Door on Chinese Users

Oct 17, 2021

New data from the latest update to the Cambridge Bitcoin Electricity Consumption Index (CBECI) at the Cambridge Centre for Alternative Finance (CCAF) has confirmed that the leading share of global Bitcoin network hashrate now sits in the US. The geographic shift happened b...

China Doubles Down on Cryptos’ “No Real Value” Position

Aug 30, 2021

China is set to establish a normal working mechanism to maintain a high-pressure situation in its continued effort to combat cryptocurrency-related transactions, local media has reported. The People’s Bank of China (PBoC) Deputy Director of the Financial Consumer Rights Protection ...

China’s Bitcoin Mining Crackdown Raises Other Developing Market Issues

Jul 2, 2021

The recent crackdown on Bitcoin miners’ activities in China forced the Bitcoin hash rate into a nosedive over the last few days - from 36 million per second (mps) in July 2018 to 180 mps in May 2021 and now to 90 mps. It has also drawn further attention to the environmental issues associated...

Miners Clampdown in China Good for Bitcoin in the Long Run

Jun 25, 2021

Recent Bitcoin predicaments have been compounded by the series of bans being carried out in China. Significant among these bans is the abolishment of mining activities within the country. The order to shut down Bitcoin mines has had a direct effect on the Bitcoin and cryptocurrency market, le...

ASIC Miner Maker Canaan Diversifies Into Crypto Mining

Jun 24, 2021

Renowned for having invented the world’s first application-specific integrated circuit (ASIC)-powered Bitcoin mining machine, Canaan has announced its business' first diversification attempt into crypto mining in Kazakhstan with their latest Avalon Miner units already in operation. The m...

Why Chinese Miners Want to Bet on Moving to US 

Jun 19, 2021

Despite the several disadvantages besetting the expansion of his Bitcoin mining operations to the United States following China’s renewed crackdown on their business, a well-known Chinese bitcoin miner says he is still considering opening Bitcoin farms in Tennessee and Texas. In an int...

Chinese Miners Praise El Salvador’s Push For Renewable Geothermal Power

Jun 10, 2021

After several weeks of controversies surrounding China’s crackdown on Bitcoin mining, the crypto industry woke up on June 9th to find that the small Latin American country of El Salvador has become the first country to accept Bitcoin as legal tender. Just days after it was first announced...