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Chinese Authorities Seize 600+ Computers Used for Bitcoin Mining

John 30/04/2018 0

Police in Tianjin – a city in Northern China – seized some 600 computers used for bitcoin mining. The authorities’ attention was attracted by the abnormal surge of electricity usage by the local power grid operator. Five people are being investigated and one is already being detained. Reuters cites ...

10 Takeaways: A Cryptocurrency Summary from G20

John 03/04/2018 0

Last week, the G20, the group of the world’s 20 largest economies, took place in Buenos Aires, Argentina. The regulation of cryptocurrency was among the main topics debated by the multilateral group. The importance of everything that has been discussed in Argentina can impact the crypto market aroun...

CHINA’S BITCOIN MINERS MOVING TO AVOID CLAMPDOWN

John 03/04/2018 0

China’s crackdown on cryptocurrencies has widened to miners, according to a Bloomberg report. Officials plan to limit the power consumption to the industry and have asked local governments to guide miners out of the business. The People’s Bank of China (PBOC) intends to enforce local regulators to m...

China's unwanted bitcoin miners may move to Canada

John 03/04/2018 0

Once the global hub for all things bitcoin, China is now doing its best to drive the cryptocurrency out of its territory. After cracking down last year on exchanges where digital currencies are traded, the Chinese government has recently been moving quietly to evict the country's vast community of b...

The End of Bitcoin Mining in China? – Interview with RootAnt CEO Lincoln Yin

John 22/01/2018 0

Bitcoin mining in China – is this a big business in big trouble? The Chinese government had been making as if to ban the practice for a while, filling the headlines with will they won’t they speculation. Finally, miners were told to make an orderly exit, and major mining outfits are now looking for ...

China's Shutdown Of Bitcoin Miners Isn't Just About Electricity

John 15/01/2018 0

China’s government is planning to shut down Bitcoin miners in its latest crackdown on the cryptocurrency. The Leading Group of Internet Financial Risks Remediation has requested that local governments make an “orderly exit” from the industry. China produces the most Bitcoin in the world using Bitcoi...

The Bitcoin Mining Industry is Moving from China to Canada as Fast It Can

John 14/01/2018 0

Last week I talked with a Canadian bitcoin mining executive who confided that he had been approached by Chinese miners looking to move their operation to Canada and were interested in a joint venture.That same day, Reuters broke the story that Bitmain (largest Bitcoin miner in the world) is looking ...

China moves to shutter bitcoin mines

John 10/01/2018 0

China is moving to wipe out its bitcoin mining industry following concerns of excessive electricity consumption and financial risk, in the latest sign of Beijing’s hostility to cryptocurrencies.A multi-agency task force has instructed provincial governments to “actively guide” companies in their res...

China plans to kill most of the world’s bitcoin mining operations

John 08/01/2018 0

In the documents, issued to the local offices of the internet-finance regulator, authorities were instructed to force mining operations out of business using measures linked to electricity pricing, land use, tax and environmental protection. Bitcoin mining is the process of solving complex mathemati...

China is reportedly moving to clamp down on bitcoin miners

John 08/01/2018 0

China banned bitcoin, ICOs and now it appears to be clamping down on Chinese miners, an important group estimated to produce some three-quarters of the world’s supply of bitcoin.According to a leaked January 2 memo from the ‘Leading Group of Internet Financial Risks Remediation’ — the country’s inte...

China wants an “orderly exit” from bitcoin mining

John 08/01/2018 0

Bitcoin mining could be on its last legs in China.The country’s top internet-finance regulator, the Leading Group of Internet Financial Risks Remediation, issued a notice asking local governments to “guide” bitcoin-mining operations to make an “orderly exit” from the business, according to a leaked ...

Bitcoin Miners Moving Out Of China

John 07/01/2018 0

China has hit the headlines for banning cryptocurrencies in its country. The country which had huge adoption before has now gone further to haunt Bitcoin miners which is leading some of the industry’s biggest miners to shift operation to other countries.One perfect example moving out of China is Bit...