Mining

PBOC and the Chinese Government  joined hands to practice a permanent crypto ban in the region citing environmental issues. Bitcoin is said to have suffered a slight decrease in its prices due to incessant policies encouraging a full-time ban on crypto operations in China. The country has adopted a strict stance towards cryptocurrency operations and has issued a fresh warning to institutions that are still engaged in mining BTC or promoting cryptocurrency in the region.In a recent move to...

Peter Wall, CEO of Argo Blockchain, emphasized the major developments in the crypto market since June, calling attention to the undeniable depletion in the total global hash rate.The only cryptocurrency mining company listed on London Stock Exchange Argo is eyeing a second prospective listing on Nasdaq Exchange. The publicly traded blockchain technology committed to large-scale crypto mining declared the probability of a secondary listing on the Nasdaq. This news comes as part of its...

Clean Spark is a cryptocurrency mining firm in Woods Cross, Utah that appears to have found a sustainable crypto mining solution that would make even the most die-hard environmentalists happy. Clean Spark Ensure Clean Mining for All In recent weeks, crypto mining has been at the center of heavy controversy. Several digital currency heads and financial analysts – including Elon Musk of SpaceX and Tesla fame and Kevin O’Leary from the television show “Shark Tank” – have...

The investment firm IBC Group, which has significant cryptocurrency mining operations in China, announced its intentions to close down all its Bitcoin and Ethereum mining facilities throughout the country. Instead, the organization plans to move its workers to Canada, the USA, the UAE, Kazakhstan, Iceland, and numerous South American nations. IBC Group Leaves China As a result of the crackdown on cryptocurrency mining launched by the Chinese government, the majority of the...

The July 1st report of the Bitcoin Mining Council became questionable, as some mining companies have ceased operation in major parts of China, and many companies are banned for supporting crypto-related businesses.The July 1 report of the Bitcoin Mining Council revealing a 56% growth in sustainable electricity mix has been greeted with criticism. Critics said the findings were finalized based on an unfair scientific methodology.Following the completion of the study, criticisms started when...

Fresh data from Glassnode revealed today that Bitcoin’s mining difficulty dropped by 28%, making it the largest negative adjustment in the history of the cryptocurrency.  Source: GlassnodeWhat is Bitcoin Mining Difficulty Adjustment? For clarity, Bitcoin mining difficulty is a metric that describes how hard it is for miners to mine a new block on the network. When the difficulty increases, it becomes harder and miners will need to dedicate more computational power to find the...

Iranian lawmakers recently drafted a bill to “support cryptocurrency mining and organizing the domestic market for exchanges.” Inside the Bill The plan involves making the Central Bank of Iran the primary regulatory body regarding the domestic exchange of cryptocurrencies within three months. This includes plans to prohibit the exchange of any cryptocurrency within the country, aside from a national one, as means of payment. A particularly interesting section of the bill...

[PRESS RELEASE – Please Read Disclaimer] With increasing activities in decentralized finance (DeFi) and blockchain space, the last year has been buzzing. DeFi has grown tremendously, from a total value locker (TVL) of $500 million on March 12. In order to be one of the most significant forces behind the crypto market bull rally of 2020/21. Currently, TVL in DeFi remains at over $50 billion. A Multi-Layer One Solutions Platform Ergo is a multiple-layer one solution providing...

There were at least two mining sites in the southwestern region of the country that had received orders to cut their power sources.Some reports have alleged that crypto mining operations might be seized for a day or more in China’s Yunnan province, ahead of the upcoming 100th-anniversary celebration of the Communist Party later this week.According to a report, the reason for the shutdown remains unclear. It might be due to orders from above or the China regulatory announcement of a crackdown...

Michael Saylor of MicroStrategy fame is convinced that China is making a huge mistake by not allowing bitcoin operations to continue within its borders. Michael Saylor Is Critical of China’s Decisions Over the past few days, bitcoin has experienced something of a surge. It was trading for about $29,500 just over a week ago, and yet today, the currency has risen to roughly $36,000. While this is by no means a heavy boom, the currency is doing considerably better, and the...