China Calls Crypto Transactions “Illegal”, Drafts Rules To Boost Yuan’s Global Use

Sep 26, 2021

China is not relenting in its effort to get the yuan well known in other parts of the world. It continues with the yuan’s internationalization approach even as the country pushes a planned public roll out of the digital version of the currency by next year while also clamping down on crypto-relat...

China’s Crackdown on Crypto Mining Resurfaces  

Sep 15, 2021

A statement by the cyberspace commission in China’s northern Hebei province has brought the Asian country back into the crypto mining circle after its involvement has been assumed to have ended following the crackdown on miners in May/June. The commission says it wants to crack down on cr...

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...

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...

China Still All In On Crypto, Make No Mistake About It – Top US VC Partner

Jun 27, 2021

Regardless of what the market outlook says, China is still committed to digital currencies and blockchain technology, the general partner of a top private American venture capital firm has said.  Andreessen Horowitz’s Katie Haun made the view known to CNBC last week when asked what s...

Despite All, China Remains an Important Market for Crypto 

Jun 24, 2021

Following China’s crypto mining crackdown of the past few weeks, Bitcoin on-chain activity has fallen dramatically this week to return to levels not seen in a year, latest analysis from GlassNode shows. The analytics firm adds that the fall is making a simultaneous seismic shift possible in ...

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...

Some Miners Likely to Remain in China Against Odds

Jun 18, 2021

Aside from considering relocating overseas with their operations or quitting the sector entirely, some Chinese crypto miners are likely to remain in China as they contemplate investing in green energy to reduce their carbon emissions, a state-owned media has reported.  The CGTN report st...

Amidst Chinese Shutdowns, El Salvador Positions to Woo Bitcoin Miners 

Jun 11, 2021

With the third Chinese region reportedly calling for the ban on crypto mining, El Salvador’s President Nayib Bukele said he has instructed a state-owned geothermal electric firm to develop a plan to offer Bitcoin mining facilities from the country’s volcanoes. LaGeoSV’s plan is to...

Push for Crypto Mining Continues Despite China Crackdown

Jun 4, 2021

Amid Chinese authorities’ recent change of attitude to crypto mining activities in China, internet company The9 says it has now finalised work with Montcrypto on an agreement to build a carbon-neutral mine with a 20MW power infrastructure in Alberta, Canada. The idea of a 20MW po...