Filecoin Soars 39%, Surpassing Theta On Several Platforms, Seeing Inflow of Chinese Miners

After the recent listing by Grayscale and a massive inflow of Chinese miners, Filecoin has surged by 40 percent and on some platforms has exceeded Theta from top 10

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BREAKING: Bitcoin Miners in China’s Yunnan Province Cut off from Electricity Supply

Chinese Bitcoin Miners in the Dark According to multiple reports from Chinese crypto news sources on Monday, the Yunnan province issued an order for power stations to cease supplying power to Bitcoin (BTC) miners in the region.

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Chinese Province to Curb Electricity for Miners

One of the largest Chinese mining hubs has banned power stations from supplying energy to Bitcoin miners

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Chinese Bitcoin Miners Hesitant to Trade. Otherwise, It’s Business as Usual.

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OCC’s Brian Brooks Says China Owns Bitcoin but Crypto World Disagrees: Chinese Crackdown Pushes Miners Away

Bitcoiners on social media have panned remarks by acting U. S. currency comptroller Brian Brooks that bitcoin is owned by China due to the country’s disproportionate share of the crypto’s mining power.

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Bitcoin’s Rally Could Be Caused by a Supply Crunch in China

Chinese miners are struggling to sell their crypto in ways that would quickly get them much-needed cash in the face of a government crackdown on local exchanges.

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China’s bitcoin miners struggle to pay bills due to govt crackdown

A self-claimed Chinese cryptocurrency reporter, Colin Wu, who has an exclusive focus on the crypto mining industry, regulation and exchanges in China, took to twitter today to share that Bitcoin minerThe post China’s bitcoin miners struggle to pay bills due to govt crackdown appeared first on AMBCrypto.

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Chinese Bitcoin Miners Struggling to Keep the Lights on Amid ‘Frozen Card Tide’

Chinese Bitcoin miners are experiencing difficulties in paying their electricity bills as law enforcement engages in major card freezing operations. From supply chain disruptions caused by the coronavirus lockdowns to excessive flooding during the Sichuan monsoon season, Bitcoin (BTC) miners in China are enduring a challenging 2020.

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Big mining move: Bitcoin’s hash power increases 42% in two days

It appears many Chinese miners have completed their annual migration from Sichuan, with Bitcoin’s hash rate spiking more than 40% in two days.

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Bitcoin Mining Difficulty Lowered 16% as Chinese Miners Move Out From Sichuan

The Bitcoin network has re-adjusted its mining difficulty, slashing it by 16 percent, the second-largest negative change in the platform’s history, GlassNode data on Nov 3 shows.   The Bitcoin mining difficulty now stands at 16.

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Here's what Bitcoin's recent hashrate drop may imply for miners

Bitcoin has seen its hash rate decline over 43.47 % within a span of 3 days, due to Chinese mining farms closing down for the dry season. The reason being, they cannot generate enough hydropower withoThe post Here's what Bitcoin's recent hashrate drop may imply for miners appeared first on AMBCrypto.

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Bitcoin Hash Rate Drops as Chinese Miners Hunt for Cheaper Power

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ETH Hashrate Keeps Rising While Chinese Miners Get More Machines and Gas Price Drops

While ETH gas prices have plunged to a three-month low of 36 Gwei, Ethereum hashrate keeps rising and ETH miners are buying more machines

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Dissatisfied miners in China want to fork Filecoin

Multiple mining groups in China have announced that they will fork Filecoin’s blockchain as they claimed to be dissatisfied with mining rewards, according to a report in Sohu.com, a Chinese media coThe post Dissatisfied miners in China want to fork Filecoin appeared first on AMBCrypto.

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Bitmain Pushing for New Mining Machines But Customers aren’t Eager to Indulge

The latest in the Bitmain drama is Zhan Ketuan (Micree Zhan), now selling the world’s first 5nm mining machine to Chinese miners, according to local media channel WuBlockchain. These new machines will be reportedly shipped in January next year, but bitcoin miners aren’t really keen on buying them.

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Crypto Miners Could Spark New GPU Gold Rush for Nvidia

Chinese cryptocurrency miners are already stocking up Nvidia's monster GPUs

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Sichuan’s Blockchain Park: Chengdu Government Officials Welcome Bitcoin Miners

In mid-August officials from the Chinese province of Sichuan approved a number of enterprises that mine bitcoin for legal hydropower consumption in the region. Following the local government of Ya’an city deciding to foster mining, officials from Chengdu recently spoke about welcoming crypto mining at the Hashcon 2020 event as well as bolstering a blockchain […] The post Sichuan’s Blockchain Park: Chengdu Government Officials Welcome Bitcoin Miners appeared first on Bitcoin News.

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Riot Blockchain Buys 8,000 of Bitmain’s Latest Bitcoin Miners, Company Targets 1.5 EH/s by 2021

Bitmain Technologies Inc. said Monday that Nasdaq-listed Riot Blockchain is buying 8,000 of its Antminer S19 Pro bitcoin miners in a deal worth $17. 7 million. In a blog post, the Chinese crypto mining hardware maker stated that the machines will be delivered in batches of 2,000 over four straight months starting January 2021.

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Excessive Flooding in Sichuan Causes 20% Hashrate Losses for Chinese Bitcoin Miners

Torrential downpours of nonstop rain have been wreaking havoc in China’s Sichuan province, which has caused some operations to shut down ASIC mining devices. Reports from the region show that certain areas have seen electrical shortages and the aftermath is causing quite a bit of stress for Chinese bitcoin miners.

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Chinese Bitcoin Miners Develop Strong Relationships and Crypto Mining Facilities in Iran

During the last few months, crypto proponents have focused their attention on Iran. The Iranian President Hassan Rouhani initiated a new mining strategy last May, and the government-licensed 14 bitcoin mining farms in July.

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Why Chinese Miners Won’t Stage a 51% Attack on Bitcoin

Jameson Lopp explains why attacks on Bitcoin won’t work and that he expects China’s mining dominance won’t last.

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Flooding Threatens China’s Bitcoin Miners, Chinese Billionaire Says ‘Three Gorges Dam Collapse Imminent’

This week cryptocurrency enthusiasts are still focused on the severe flooding in China during the 2020 monsoon season. The flooding has already displaced millions of Chinese citizens and skeptics are concerned about the vast number of bitcoin miners located in the Sichuan province.

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The 2020 Rainy Season Is Tougher Than Ever for China’s Bitcoin Miners

Chinese bitcoin miners are usually happy this time of year because the monsoon season brings excessive rain and thus cheap hydro electricity. But this year has proved to be tougher than ever.

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2020 Monsoon Season and Dam Stress Threatens Chinese Bitcoin Miners

Digital currency proponents have been discussing the 2020 monsoon season in East Asia and how there’s a possibility it could wreak havoc on large bitcoin mining operations located in China. Recent estimates note that China has 50% of the world’s bitcoin mining capacity but if mining facilities are taken out by heavy rainfall and flooding, […] The post 2020 Monsoon Season and Dam Stress Threatens Chinese Bitcoin Miners appeared first on Bitcoin News.

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US Contract Miner Core Scientific Buys 17,600 Bitcoin Miners From Bitmain

U. S. contract mining firm Core Scientific has agreed on a deal to buy 17,600 mining rigs from Chinese bitcoin hardware maker Bitmain Technologies Inc. The company is buying Bitmain’s next-generation bitcoin (BTC) miner, the Antminer S19, it said in a statement on June 29.

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Chinese Government Crackdowns and Cheap Hydropower- Miners Migrate from North to South China

China-based bitcoin miners have started to migrate southbound from North China, according to local reports. The operators are having difficulties and are transitioning mining facilities for cheap hydro-powered electricity.

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Canaan Announces Two Inferior Bitcoin Miners as Stock Plummets

Canaan is the latest Bitcoin mining manufacturer to introduce new hardware into the market as participants adjust to the original block reward paradigm. According to Chinese crypto news site 8BTC, Canaan is set to launch two new entrants for its AvalonMiner series: the 1166 and the 1146 Pro.

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Bitcoin halving in the midst of pandemic to favor Chinese miners

Bitcoin miners generated a total of $387 million in revenue for March 2020. Cumulatively, miners have earnt over $12.5 billion in revenue between 2018 and 2020. Hence mining has become an increasinglyThe post Bitcoin halving in the midst of pandemic to favor Chinese miners appeared first on AMBCrypto.

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Chinese authorities hope to sell excess electricity to miners

Chinese province of Sichuan, popular among mining enterprises due to cheap hydropower, hopes to boost sales of electricity to miners ahead of the rainy season.

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Bitcoin Miners to Thrive Post Halving after Local Chinese Gov’t’s Surprising Move

Ya’an, a Chinese city that contributes 50 percent of the total hash power to the Bitcoin network, offers cheap electricity to miners right ahead of halving. The mountainous region, while awaiting a rainy season, wants to give away its excess electricity to “support the implementation of blockchain industry development,” according to a public guidance document.

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The Monsoons Are Just Round The Corner But Bitcoin Miners in China Aren’t Gearing Up

China is the Bitcoin mining capital of the world primarily because of the availability of clean hydroelectricity in abundance at an affordable price. This is the primary reason Chinese Bitcoin mining farms are responsible for over 60% of Bitcoin mining.

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Chinese miners move to Central Asia

Rising electricity prices in China and pressure from local authorities are forcing Chinese miners to look for new locations to place mining capacities. Many choose nearby countries such as Kazakhstan and Uzbekistan.

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Hackers stole $45 million in bitcoins from Chinese whale

A Chinese investor lost $45 million in bitcoins and BCH as a result of a hacker attack allegedly via SIM swap. Now the victim tries to find support of miners.

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Благодаря SIM-свопингу хакерам удалось похитит у инвестора 100 000 BCH и 1500 BTC

Согласно опубликованному пользователем Zhoujianfu сообщению в Reddit, у него похитили около 100 000 BCH и 1550 BTC. Общая сумма потерь составила приблизительно $45 млн. BREAKING 1M $BCH sim hack!! worth $30M from 1 single Chinese whale (he claimed lost $15M $BTC too) He's now asking for help from miners ..I'm talking with top BCH pool […]

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SIM-своперы похитили у биткоин-кита $45 млн в BTC и BCH

Согласно опубликованному пользователем Zhoujianfu сообщению в Reddit, у него похитили около 100 000 BCH и 1550 BTC. Общая сумма потерь составила приблизительно $45 млн. BREAKING 1M $BCH sim hack!! worth $30M from 1 single Chinese whale (he claimed lost $15M $BTC too) He’s now asking for help from miners ..I’m talking with top BCH pool

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Coronavirus Quarantine Controls and Shipping Delays Impact Bitcoin Miners

During the first week of February, a few of the top mining rig manufacturers from China revealed they were forced to postpone device shipments due to the ongoing coronavirus outbreak. Regional reports from the country now disclose that shipments will be delayed even longer and Chinese mining rig companies and second-market suppliers are feeling significant […] The post Coronavirus Quarantine Controls and Shipping Delays Impact Bitcoin Miners appeared first on Bitcoin News.

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3 Cents per kWh – Central Asia’s Cheap Electricity Entices Chinese Bitcoin Miners

As tensions escalated between the U. S. and Iran in recent months, reports have detailed that Chinese bitcoin miners are looking to set up shop in Central Asia and more specifically in Kazakhstan and Uzbekistan.

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How the Long Tail of the Coronavirus Might Slow Bitcoin’s Hash Power Growth

The shortage of new mining machines caused by the coronavirus outbreak could curb computing power growth from Chinese miners who contribute over 65% of Bitcoin’s hash power.

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Chinese Miners Leaving Iran, Eye Uzbekistan

The recent US-Iran tensions have increased the concerns of Chinese miners who operate in the country. Local crypto media reports “some Chinese miners are leaving Iran, while locals are buying.

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Bitcoin hashrate surges to all-time high after Chinese government pressures miners to scale down operations

Just after regional authorities reportedly urged Bitcoin miners to reduce electricity consumption in Sichuan — a province that could account for up to 50 percent of global hash power — BTC’s hash rate rocketed to a new all-time high.

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Chinese Bitcoin Miners Pressured to Scale Down Due to Electricity Shortages

Chinese Bitcoin mining farms feel pressure from local authorities to scale down their mining operations during the dry season

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Chinese Police Seize Thousands of Miners, Arrest Dozens of Scammers

In the last couple of days, Chinese media have reported on police forces in one province of the vast Asian country seizing close to 7,000 mining rigs using stolen electricity and in another province arresting 72 multi-level marketing scheme operators for alleged fraud.

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Lawsuit Shows How a Public Firm’s $80M Bet on Bitcoin Miners Went Terribly Wrong

The legal dispute between bitcoin miner Ebang and Chinese public firm Wholeasy reflects the prolonged magnitude of last year's market sell-off.

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Bitcoin mining hardware predominantly owned by Chinese miners: Report

A report on ‘The Bitcoin Mining Network’ was recently published by digital asset management firm, CoinShares, which spoke about the Bitcoin mining space, its growth over the last six months, and eThe post Bitcoin mining hardware predominantly owned by Chinese miners: Report appeared first on AMBCrypto.

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Bitcoin Mining Centralization Reaches Record Levels, Majority China

Chinese Bitcoin miners now control a record proportion of the network’s hashrate, according to new research. An estimated 65% of BTC mining now happens in China. CoinShares, a digital asset investment fund, noted this high since the firm started monitoring the network in late 2017.

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Chinese Bitcoin Miners Control Two-Thirds of Global Hashrate

Chinese Bitcoin miners have extended their share of the global hash rate. Currently, they control two-thirds of Bitcoin’s processing power, Reuters reported yesterday, citing a research by CoinShares.

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Study: China’s BTC Miners Control 66% of Global Hash Rate

Chinese share of global hash rate hits a new record of 66% since 2017, a new study says

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Crypto Market Forecast: 11th November

It was a mixed week in the crypto markets. Market benchmark BTC was down slightly, but altcoins such as XLM and XTZ enjoyed healthy gains. The ever-evolving Chinese government blockchain policy was a major story this week.

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More Chinese Bitcoin Miners Flock to Sichuan as Demand Soars

Despite the long-standing ban on Bitcoin trading, China continues to be a breeding ground for cryptocurrency mining operations — statistically speaking. As BeInCrypto has previously covered, Chinese Bitcoin miners dominate an estimated 65 percent of the total network hashrate — with others, including the United States and Russia, lagging far behind with roughly five percent […] The post More Chinese Bitcoin Miners Flock to Sichuan as Demand Soars appeared first on BeInCrypto.

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