Bitcoin Mining

Chinese Bitcoin miners ‘not even in the mood to drink anymore’

China, once home to about 65% of the total Bitcoin (BTC) mining hash power has given the boot to several miners in the country. The country’s Bitcoin mining ban means miners have been forced to shut down their operations with some establishments already moving hardware overseas. Tweeting on Wednesday, Kevin Zhang, vice president of crypto …

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Waste Coal-Converting Bitcoin Miner Stronghold Digital Mining Raises $100 Million

<div class=”featured_image_container”> </div> <strong>On Tuesday, Stronghold Digital Mining, Inc., an ESG-friendly cryptocurrency miner announced it has raised $105 million in two private equity securities funding rounds. Stronghold’s operations convert waste coal into alternative energy in order to mine bitcoin and other cryptocurrencies.</strong> ESG-Friendly Crypto Miner Turns Coal Waste to Bitcoin, Operation Raises $100M While many …

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Facebook’s David Marcus: China’s Bitcoin Mining Crackdown ‘Great Development’ for BTC

<div class=”featured_image_container”> </div> <strong>David Marcus, head of Facebook Financial (F2) who is in charge of crypto project Diem, formerly Libra, believes that the Chinese government cracking down on bitcoin mining is “a great development” for the cryptocurrency. Many people in the crypto space agree with him.</strong> Facebook’s Executive Believes China’s Bitcoin Mining Crackdown Is a …

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Cornell Economist Says Bitcoin Has 3 Flaws Driving People to Search for Better Alternatives

<div class=”featured_image_container”> </div> <strong>Cornell University professor of economics and former head of the IMF’s China division, Eswar Prasad, sees three major flaws in bitcoin. Because of these flaws, the professor says that “bitcoin really has set off something of a search for a better alternative.”</strong> Cornell University’s Professor of Economics Outlines Bitcoin’s Flaws Cornell economics …

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Figuring Out How Much Bitcoin Hashrate Resides in Mainland China Still a Mystery

<div class=”featured_image_container”> </div> <strong>Over the last few weeks, there have been many reports about crackdowns in China tied to bitcoin mining operations in various provinces. 30-day statistics show the hashrate has been fluctuating wildly, and across the last week it has slid downward roughly 26%.</strong> Reports Show Bitcoin Mining Crackdowns in Five Chinese Provinces Despite …

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Officials in Sichuan Instruct Bitcoin Miners to Shut Down Operations: Report

<div class=”featured_image_container”> </div> <strong>According to regional reports, bitcoin miners in Sichuan have been told by the Ya’an municipal government that they have until June 25 to shut down operations. Sichuan has been eyed closely in recent times as it’s estimated that a large demographic of miners are situated in the region.</strong> Sichuan Ya’an Energy Bureau …

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Miami mayor offers city’s clean nuclear power to Chinese Bitcoin miners

With Bitcoin (BTC) mining concentration expanding in North America, Miami mayor Francis Suarez is looking to position his city as a hub for crypto mining activity. Speaking to CNBC on Thursday, Mayor Suarez said he is inviting foreign mining companies to consider establishing data centers in the city. According to Suarez, Miami’s ample nuclear electricity supply …

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Genesis Digital Assets Purchases 10,000 Bitcoin Miners from Canaan

<div class=”featured_image_container”> </div> <strong>The Beijing-based ASIC mining rig manufacturer Canaan announced the sale of 10,000 bitcoin mining machines to the firm Genesis Digital Assets Limited. Canaan plans to deliver the 10,000 A1246 and A1166 Pro Avalonminers by the end of the month.</strong> Canaan to Deliver 10,000 Bitcoin Miners to Genesis Digital Assets The company Canaan …

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‘Bitcoin is not an asset that is designed to be leveraged,’ says Caitlin Long

All eyes are on Bitcoin (BTC), as the largest cryptocurrency shot up past $40,000 on June 14. Unsurprisingly, the price increase happened shortly after Tesla CEO Elon Musk tweeted that the electric-car company would potentially accept BTC payments once more miners confirm green energy initiatives.  Yet while Musk’s tweet may have driven the price of …

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Reports of Mining Sector Cleanup Put China’s Yunnan Province in the Spotlight

<div class=”featured_image_container”> </div> <strong>Authorities in Yunnan are launching an investigation to identify and shut down miners that are illegally using electrical power to mint bitcoin, Chinese media reports. Inspections will also focus on potential safety hazards and will be carried out by various government departments. The mining industry cleanup is expected to continue till the …

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