Canaan Sells More Computing Power in Q1 2022, Expects Better Mining Market in Q2

May 22, 2022

Despite starting the year in "an increasingly unpredictable environment" due to macroeconomic uncertainties and logistic disruptions caused by the COVID-19 pandemic, China-based chip producer, Canaan, says it recorded an increase of 119.1% in total computing power sold in Q1 2022 as comp...

ASICs’ Prices in 13-Week Freefall

Apr 25, 2022

Data from Luxor Mining, a crypto mining analysis, data and hash rate insights provider, shows that last week made it the thirteenth week in a row that prices for ASICs of the three efficiency tiers have been falling. As at April 20, the under 38 joules/TH ASIC tier was at $77.15/...

Another Mining Hub Discovered in China, 190 Mining Equipment Seized

Mar 24, 2022

The campaign against cryptocurrency activities in China registered another milestone this week. A secret mining hub was discovered and 190 mining machines worth over $790K confiscated. The raid to discover this illegal installation was carried out in the Jieyang city of the Guangdong province...

China Offers $25,000 Prize in Crypto Miner Identification Contest

Mar 16, 2022

The clampdown on cryptocurrency mining has been a major subject in China since the middle of 2021. Different approaches have been employed by the government authorities to clear out cryptocurrency mining activities from the region. The reasons for the clampdown include the quest for financial su...

Canaan in Record Over 200% YoY 2021 Sales Increase

Mar 4, 2022

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...

Electricity Price Hike Only A Supporting Punishment as Crypto Activities Remain Illegal in China

Feb 24, 2022

On February 22, the Zhejiang Government Service Center put out a statement to clear the air over the price hike of electricity bills for anyone found to be involved in cryptocurrency mining. The policy, since it was enacted, has left a lot of people confused. In some quarters, the conversati...

Another Record-Breaking Q3 for North American Miners Following China’s Ban

Oct 11, 2021

Like it happened in the second quarter, North American miners have seen yet another quarter of increased revenue quarter-over-quarter in the wake of China’s crypto mining ban. China used to capture the larger share of the crypto mining market - about 50-60% of the network’s hashrate. How...

China Set to Blacklist Crypto Mining as Country’s Biggest Bank Cuts Off Forex Business Accounts

Oct 11, 2021

China’s state planner has indicated yet another push by the government to cut Chinese users from engaging in any form of crypto-related activity according to a document made public on Friday October 8.  The National Development and Reform Commission (NDRC) shows in the document tha...

Sichuan Says Over 5,100 Small Hydropower Plants In The Region Have Been Reviewed

Jul 27, 2021

The era of virtually unlimited hydropower in the Chinese province of Sichuan could be coming to an end. And while the abundance of electricity coming from the region’s plentiful water sources has been reserved for the summer months, the latest regulatory crackdown has drastically decreased the ...

China’s Hash Rate Share Has Been Declining Before Crypto Crackdown

Jul 16, 2021

An update of the Cambridge Bitcoin Electricity Consumption Index (CBECI) digital tool has suggested that China’s share of global hash rate has been in significant decline for some time prior to the recent crackdown on Bitcoin mining announced by the Chinese government in June 2021....