Mining

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...

China’s crackdown on bitcoin mining has caused severe damage to local businesses. Owners of small hydroelectric power plants have decided to put for sale their operations, promising that they can be used for BTC mining. Illegal BTC Mining in China to Go on? As it has become painfully clear for the cryptocurrency community, China doesn’t favor Bitcoin. The world’s most populated nation tends to reiterate its ban on the industry frequently, but this May, it took things a step...

The recent intensive crackdown of the Bitcoin has led to price decline. Bitcoin is currently trading at the $34,200 level.Generally, China’s crackdown targeting Bitcoin has dealt a big blow to Bitcoin era, particularly Bitcoin mining pools and companies. However some players have been more affected than others, but for miners who are not based in China may be reaping big time.The mining hashrate for Bitcoin, the rate at which Bitcoin is mined, dropped on Sunday to 94EH/s. As per Glassnode’s...

The financial analyst and Global Head of Equity Strategy at Jefferies – Christopher Wood – opined that the Chinese officials want no competition for its digital renminbi. That is why they enforced the crackdown on bitcoin and other cryptocurrencies lately. China Cares About its CBDC Not Carbon Footprint Christopher Wood – the prominent financial analyst focused on the Asian market – surmised that there is more to the story behind China’s negative stance against crypto mining...

Last week, Bitcoin crashed following China’s decision to ban crypto mining in the country. For the first time since January, Bitcoin was trading below $30,000. While the price of Bitcoin has recovered a bit, investors remain uncertain about the possible direction the market could take. China, being the biggest Bitcoin market in the world, has decided to continue its massive crackdown on crypto miners in the country. The impact of China’s decision on the trading market...

The effects of the Chinese crackdown on Bitcoin mining continue to harm the network as the hash rate has dumped to its yearly low of below 90 Ehash/sec. This comes just days before the next difficulty adjustment, which is expected to be one of the largest in BTC’s history. Bitcoin Hash Rate Drops to Yearly Lows The world’s most populated nation decided to intensify its hostile actions against the cryptocurrency industry in May this year when it went after Bitcoin mining....

Selon Coinwarz le « hashrate » [1] de Bitcoin serait aujourd’hui tombé sous les 85 EH/s [2], soit son niveau de septembre 2019. A son plus haut, en mai 2021, le taux de hachage avait dépassé les 190 EH/s. Selon Sébastien Gouspillou [3], cette baisse signifie que 85 à 90% du mining Chinois est probablement à l’arrêt aujourd’hui, une véritable aubaine pour les mineurs du monde entier, mais également une chance pour la décentralisation du...

Last year turned out to be a record-breaking one in terms of blocked computer cryptojacking attempts for cryptocurrency mining, reported the Russian cybersecurity giant Kaspersky. Although the firm noted it had stopped millions of cases, it also warned people about the potential threats. Cryptojacking in 2020 When an attacker gains unauthorized access to a computer or mobile device to mine (or mint) cryptocurrencies is now known as cryptojacking. It typically transpires when...

Stronghold Digital Mining in Pennsylvania has managed to raise more than $100 million to establish a new firm. Stronghold Digital Is Carving the Way to Cleaner Mining The company has made a real name for itself during a time when bitcoin and cryptocurrency mining are the subjects of much controversy. Many analysts are convinced that bitcoin mining requires too much energy; that it boasts as large a carbon footprint as Las Vegas, Nevada, and that it consumes more...