Xinjiang

Sichuan Mining Farms Begin to Shut Down — Seven-Day Stats Show Bitcoin’s Hashrate Plummeting

<div class=”featured_image_container”> </div> <strong>The hashrate of the Bitcoin network has been steadily falling since June 14 and after Sichuan miners were told to prepare operation shutdowns. Sichuan is the second-densest province in China where most miners are located, according to data stemming from the University of Cambridge. Bitcoin’s hashrate is now hovering just above 100 …

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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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Shanghai Man: Bitcoin interest drops in China amid crackdown on social media and miners

This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations. This week, following a tumultuous few weeks of regulation, the Bitcoin world’s focus shifted to Miami and Latin America. Searches for Bitcoin on …

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China’s Qinghai Province Instructs Bitcoin Mining Operations to Shut Down

<div class=”featured_image_container”> </div> <strong>Following the report that indicates specific Chinese miners in the Xinjiang region were told by officials to shut down, another agency in Qinghai has informed miners to cease operations in a recently published government mandate. Similarly, the Qinghai Industry and Information Technology Department’s document explains bitcoin mining operations cannot operate in the …

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China’s Carbon Neutral Stance Puts Pressure on BTC Miners, Sichuan Electricity to Increase 150%

<div class=”featured_image_container”> </div> <strong>Bitcoin’s global hashrate dropped ten days ago following a coal mine accident that caused significant grid blackouts in Xinjiang, China. While initial estimates had shown more than 40% of the hashrate dropped, statistics from a five-day average show the hashpower only lost around 25%. Meanwhile, Chinese miners located in Sichuan may put …

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Did a massive Chinese power outage cause Bitcoin’s crash down to $50k?

Woo noted reports identifying the blackouts were published late last week, with the power outages occurring to facilitate safety inspections in response to a recent flooding accident at a local coal mine that saw 21 miners temporarily trapped underground after power and communications went down. According to the Cambridge Bitcoin Energy Consumption Index, or BECI, …

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Bitcoin Hashrate Drops Over 45%, Xinjiang Grid Blackouts Blamed, BTC Price Slides 10%

<div class=”featured_image_container”> </div> <strong>Since April 15, the Bitcoin network hashrate has dropped more than 49% after touching an all-time high at 218 exahash per second. Regional reports noted that in China the Xinjiang grid is having blackouts and “safety inspections.”</strong> Reports Claim Blackouts in Xinjiang, China Have Pushed Bitcoin’s Hashrate Down 49% At the time …

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Official Notice Says Cheap Electricity to End for Inner Mongolian Bitcoin Miners

Dex Platforms Trade Over $2.4 Billion in 7 Days, Defi Swaps up 68% Since Last Week Years ago the cryptocurrency community did not have access to a plethora of decentralized exchanges (dex). In 2020 with the rise of Ethereum, dex platforms have grown exponentially with trading applications like Uniswap, 0x, Kyber, and more. Dex trading …

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