Mining Companies Use Wasted Sustainable Energy to Store the Value of Electricity and Benefit Local Economy

Feb 15, 2020

Just like the California Gold Rush almost two hundred years before in the United States, there is another group of “miners” competing the scarce resources, Bitcoin, in Sichuan province, China, geographically similar size as California. If treated as a currency, there are no other cur...

Coronavirus Suspends Crypto Mining Machines Sales in China

Feb 14, 2020

"After waiting for a long time for bitcoin halving, my store couldn't open. Colleagues all went to WeChat moments to sell breathing masks and disinfectants for the ordinary expense." In eyes of Miss Hu, a mining equipment vendor in Huaqiang North – China’s No.1 electronics street and wo...

Bitcoin Miner Manufacturer Canaan’s Stock Price Surges over 80% Amid Blockchain Stocks Rallies

Feb 13, 2020

Canaan, leading bitcoin mining hardware maker, has seen its stock price surge by more than 80% on Wednesday February 12, closing at $8.04 per share. Compared to the previous average trading volume of 250,000, more than 11 million shares have traded hands. The China-based bitcoin mining m...

Central Asia Might be the Next Hotbed for Chinese Bitcoin Miners Heading Overseas

Feb 12, 2020

Abundant coal, natural gas, cheap electricity, and sparsely populated and vast territory are making countries of Central Asia a perfect fit for bitcoin mining. Compared to the thermal power cost of over $0.06 per kilowatt hour in China, an average electricity rates of $0.03 per kilowatt hour...

A Top-level Video Card is Indispensable to High Profits in Crypto Mining

Feb 7, 2020

Crypto Mining with video cards is the basic method to extract digital treasure, and the top-level video (card graphics card) is essential equipment for miners. In the early years, bitcoin mining was a small investment brings a ten thousand-fold profit. But with the increase of the number of m...

Bitcoin Hashrate Might Decline Impacted by Coronavirus Controls

Feb 6, 2020

The coronavirus controls and possibly extended outbreak are taking a toll on bitcoin mining farms in China where an estimated 65% of global bitcoin hashrate is located. Jiang Zhuo’er, founder of mining pool BTC.Top, posted a weibo (Tweet equivalent in China) on February 4, complaining...

Bitcoin Mining Pools Pocket in Multimillions While Many Cloud Mining Products Lose Money

Jan 22, 2020

Bitcoin mining pools earned an average of over $4.28 million from bitcoin transaction fees in 2019, with BTC.com making the most of more than $26.22 million, according to a report by Chinese crypto media outlet PANews. The report pointed out that seven major bitcoin mining pools includin...

Chinese Bitcoin Miners in Iran: To Leave or To Hang on

Jan 16, 2020

As the U.S. and Iran step back from the brink of war, it comes as a temporary relief to bitcoin miners in the oil-rich country. The Middle Eastern country had previously attracted Chinese bitcoin miners heading there for its extremely affordable electric prices at $0.006 per kilowatt-hour...

Hashing Ahead: A Look at Bitcoin Mining in 2020

Jan 2, 2020

The December 2019 report on the Bitcoin mining network from CoinShares Research, a division of the digital asset management firm, presented an industry in good health at the end of the year, with a hash rate that had almost doubled in the previous six months, a new generation of more powerful...

Chinese Men Surrender 14 Bitcoins After Stealing Electricity for Crypto Mining

Dec 27, 2019

On December 24, a court in China’s Jiangsu province dealt with a case of bitcoin mining by stealing electricity. From March 2017 to May 2019, ten defendants successively purchased more than 3000 bitcoin mining machines, rented workshops for private connection and stole a large number of powe...