Bitcoin Mining Support in Sichuan Attracts Too Much Attention – Fresh Crackdown Ahead?

May 22, 2020

The Chinese province of Sichuan, the world’s bitcoin mining capital, has reportedly asked local governments to guide bitcoin mining operations to make an orderly exit from the business. According to the leaked document online, it says that some companies are taking advantage of and overly ad...

Bitcoin Miners in Sichuan Turned off for Electricity Shortages as Rainy Season Delays

May 21, 2020

Some bitcoin mining farms in the Chinese province of Sichuan have been reportedly turning off their mining machines due to electricity shortages A local government notice released on May 18 indicates that the electricity load within the region has increased by 22% since May, meanwhile, wate...

China’s Speeding Up “Legalizing” Bitcoin Mining as Cities in Sichuan Show Support

May 14, 2020

Government authority in China’s Sichuan province known as the world bitcoin mining capital has recently convened a seminar in a bid to encourage cryptocurrency mining operations to help consume excessive hydroelectricity and make up for the economic losses caused by the coronavirus outbreak. ...

Mysterious Chinese Bitcoin Mining Pool Rises to the Sixth Largest After the Halving

May 13, 2020

A new china-based bitcoin mining pool named Lubian.com has accounted for 6.2% of the global bitcoin hashrate, just three weeks after processing its first block. The pool is currently the sixth-largest bitcoin mining pool with a 7.32 EH/s hashrate, according to btc.com. The mysterious pool, ...

Bitcoin Post-Halving: Unprofitable Miners Leaves, Exchanges Make a Fortune

May 12, 2020

Bitcoin has just gone through a much-hyped adjustment that reduced the rate at which new coins are created. However, the halving is fatal for miners. As far as real-time income is concerned, under the condition that the computing power and difficulty of the whole network remain unchanged, mine...

Interactive Map Visualizes Global Bitcoin Hashrate Geo-Distribution

May 7, 2020

China's dominance of the Bitcoin mining space isn't new but a Cambridge University research has come up with an interactive map that visualises the approximate geographic distribution of global Bitcoin hashrate according to mining distribution. Put together by Apolline Blandin, Anton De...

Bitmain Reportedly Racked in $300 Million in First Fourth Months of 2020, Gives Employees Millions in Holiday Bonuses

Apr 29, 2020

Bitmain, the world’s leading crypto mining hardware manufacturer, has reportedly racked up $300 million in the first fourth months this year. According to a report by a local crypto WeMedia, Bitmain announced internally to its employees that the company had made over $300 million in revenue...

China’s Sichuan Encourages Bitcoin Mining Operations to Consume Excessive Hydropower

Apr 28, 2020

A city in China’s Sichuan province known for bitcoin mining has recently issued a notice encouraging the blockchain industry to help consume the excessive hydroelectric energy there ahead of the rainy season usually starting in May. Bitcoin mining is supported for the first time Accordi...

Bitmain’s Antminer 17 Models Drawing Criticism from Miners for High Failure Rate

Apr 24, 2020

Bitcoin mining hardware manufacturer Bitmain has recently been criticized over some of its Antminer 17 products, with Chinese miners complaining about its high failure rate. The criticized Antminer 17 models, mainly the T17 and S17+ series, were rolled out last August. As the next-gen f...

Increasing Bitcoin Mining Difficulty Implies Miners’ Return, Jihan Wu Wary of Bullish Bitcoin Halving Narrative

Apr 22, 2020

The bitcoin network saw one of its biggest adjustments in mining difficulty on April 21. According to btc.com, the mining difficulty noted an 8.45% uptick from 14.72 T to 15.96 T. The data suggest that mining difficulty is set to increase another 8.7% in 13 days. The difficulty that re...