The cumulative hashing power dedicated toward Bitcoin took a hit this week after extensive flooding of mining centers in Sichuan, China. Eric Meltzer, a partner at China-based blockchain focused fund INB, published a tweet on June 29, 2018, depicting mining hardware destroyed by flooding within the Sichuan region: Rumors that a huge flood in Sichuan took […]
The post China Floods Wipe Out Crypto Mining Farms, Bitcoin Hashrate Drops appeared first on CryptoSlate. origin »
Cryptocurrency mining activities have been growing all over the world during the last years. China has became one of the main hubs for virtual currency operations in the world. But due to heavy floods in the Sichuan province, a major cryptocurrency mining operation has been heavily damaged by the water. The information has been reported […]
Bitcoin network hashrate appeared to dip June 27, coinciding with reports floods in China had inundated and destroyed “tens of thousands” of miners. Machines ‘Beyond Repair’ According to local Chinese media reports, the floods occurred principally in the country’s western Sichuan province, an area which accounts for around 70% of China’s mining output.
Floods in China’s Sichuan province, caused by two days of heavy rains, have reportedly resulted in the destruction of “tens of thousands” of cryptocurrency mining devices
The People’s Bank of China has officially established the Digital RMB Operation and Management Center as the nation prepares its digital currency for widespread adoption. According to a recent report by Chinese media Capital Finance, the Governor of the central…
Ant Digital, the tech arm of Jack Ma’s Ant Group, is tokenizing $8.4 billion worth of energy assets to create a globally accessible green energy market. China’s biggest multinational firm is quietly moving to put energy infrastructure valued at over…
Chinese media report that one of the country’s leading fintech companies is negotiating the acquisition of technological solutions from the Abu Dhabi–based Venom Foundation. Sources familiar with the matter say the goal is to integrate Venom’s blockchain infrastructure into China’s…
Hong Kong will officially implement its new regulatory framework for stablecoin issuers on August 1, as the city moves to safeguard digital currency adoption through licensing, oversight, and a public issuer registry.