BTC Mining Migration, Challenges & Forecasts for the Post-crackdown Industry

Bitcoin (BTC) mining is on the move.

Three US States Going After BlockFi In Regulatory Crackdown

New Jersey, Texas, and Alabama have individual state regulators issuing concerns that New Jersey-based DeFi firm, BlockFi, is offering unregistered securities.

Bitmain to Host Miners in 180-Megawatt Data Center in Kazakhstan

Crypto mining hardware manufacturer Bitmain has partnered with Enegix to host Antminer S19 Pro devices in one of the world’s largest data centers.

Chinese Miners Pivot to Alternative Currencies to Keep Operating

The Chinese mining crackdown forced many miners to stop their operations and relocate.

Binance US ‘looking at IPO route’, CZ says

Binance is set to face heavy regulations in the future with the mindset of shifting from a tech startup to a financial service, Changpeng Zhao said. Binance US, a United States-based cryptocurrency exchange operating separately from Binance, is looking to go public despite the ongoing regulatory crackdown on Binance.Changpeng Zhao, founder and CEO of the global exchange Binance, talked about its ongoing regulatory issues and future plans at the blockchain virtual summit REDeFiNE Tomorrow 2021 on Friday.The CEO expressed confidence that Binance is set to face heavy regulations in the future, noting that the company “is in the mindset of shifting from a tech startup to a financial service.” Zhao reiterated that Binance had been aggressively increasing its compliance efforts, including hiring former regulators.The CEO admitted the company’s efforts to cooperate with regulators have not been the firm’s “strong suit,” pointing out the urgent need to localize compliance communications.But despite seeing a meager success in communicating with global regulators so far, Binance doesn’t preclude a possibility that Binance US would go public one day as the exchange is seeking ways to go for an initial public offering (IPO), CZ declared, stating:“Binance US is looking at the IPO route.

Texas and Alabama Regulators Crackdown on Blockfi’s Interest Bearing Account Product

Fresh off the heels of Blockfi’s issues with the ​​New Jersey Bureau of Securities, the company is now having problems in the state of Alabama.

Shenzhen Crypto Mining Hardware Retail Hotspot Becomes a Ghost Town

An iconic shopping outlet for Chinese crypto miners has fallen under an eerie shroud of silence as the nation’s mining industry screeches to an abrupt halt. The Beijing-led crackdown on mining has seen many of the nation’s key crypto mining provinces stamp out industrial mining, with further sanctions placed on crypto-related banking. All this has led to a

New DeFi futures to enable hedging against Bitcoin mining difficulty

SynFutures’ decentralized Bitcoin Hash Rate Futures aim to let miners long or short Bitcoin mining difficulty. Decentralized derivatives exchange SynFutures announced a new product called Bitcoin (BTC) Hash Rate Futures that uses the biggest cryptocurrency’s ever-changing mining difficulty as a basis to open long or short positions. Touted as fully decentralized hash rate futures, SynFutures’ new offering would let users trade on Bitcoin mining difficulty with wrapped BTC (WBTC). Hash rate and mining difficulty are two core mechanics of Bitcoin that became even more popular with the miners’ exodus following China’s crackdown.

CBECI Report: China’s Hold Over Bitcoin Mining Was Waning Before The Crackdown

Shocker! According to the latest CBECI update, China’s control over Bitcoin mining was already waning.

How BlackHat Coin Will Give You Back Control of Your Privacy with Untraceable Transactions

At the end of 2020 and the beginning of 2021, crypto exchanges crackdown on privacy coins.

EU Wants To Ban Anonymous Crypto Wallets by 2024

The European Commission has formally announced a broad crackdown on the crypto industry.

Here's why mining Bitcoin continues to get easier

China's crackdown on Bitcoin's mining operations directly affected the largest cryptocurrency's price trajectory, there's no denying this.

3 reasons why Bitcoin Standard Hashrate (BTCST) price rallied by 50%

BTCST earnings per staked token increased after China cracked down on Bitcoin miners and the network’s hashrate dropped. China’s ongoing crackdown on Bitcoin (BTC) mining resulted in a mass relocation of mining operations out of the country and it has led to a more than fifty percent drawdown in the Bitcoin network hashrate from an all-time high of 197.9 exahash per second (ehash/s) on April 15 to its current rate at 97 ehash/s. Bitcoin network mean hash rate.

Bitcoin mining difficulty drops for fourth time in a row

Bitcoin mining difficulty has posted another negative adjustment on Sunday, with the difficulty rate almost halving since mid-May. Amid the ongoing crackdown on cryptocurrency mining in China, mining new Bitcoin (BTC) continues getting easier as BTC has experienced another mining difficulty drop.On July 18, the Bitcoin network posted its fourth consecutive negative adjustment of mining difficulty, dropping 4.8%, according to data from Bitcoin explorer BTC.com.The latest mining difficulty adjustment occurred at block 691,488, reducing the difficulty rate from 14.4 trillion to 13.7 trillion, the lowest level recorded since June 2020.

Binance Quits Stock Token Trading as Hong Kong Adds to Mounting Regulatory Pressure

Cryptocurrency exchange Binance has announced it will no longer support the trading of stock tokens.

Financial Report Shows Bit Digital Is Transferring 14,500 Bitcoin Miners From China to the US

Following the bitcoin mining crackdown in China, the Nasdaq-listed firm Bit Digital published a second-quarter bitcoin production and mining operations update and noted the company is moving 14,500 bitcoin miners from China to the United States.

China’s crypto industry is gone? Beijing’s crackdown keeps sending shockwaves

The Chinese government’s ongoing crusade against cryptocurrencies might have dramatic consequences for both domestic and global crypto traders.

China’s Bitcoin Mining Exodus Began Before Latest Crackdown

New research reveals China's share of the global Bitcoin hashrate was already in decline even before the country’s latest crackdown on the mining industry. 

Bitcoin Mining in China Dropped before the Latest Crackdown

New research conducted by the Cambridge Centre for Alternative Finance (CCAF) shows that Bitcoin mining in China has already nosediving even before the government started cracking the whip on crypto mining in May.

China’s Bitcoin hash power fell before the crackdown: Cambridge data

Cambridge research shows that China’s Bitcoin mining power fell by 40% before the crackdown, while the United States’ hash power has quadrupled. China’s crackdown on Bitcoin (BTC) mining due to energy consumption concerns is widely regarded as the trigger for the miners’ exodus from Asia to Western countries.

China's Global Bitcoin Hashrate Was On Decline Before Crackdown

It seems that the Great Miner Migration began even before the latest exodus from China.

China’s Anhui Province to Shut Down Crypto Farms as Grid Operator Issues Closure Notice, Reports

Anhui has reportedly become China’s latest region planning to end cryptocurrency mining.

Bitcoin mining ban an easy decision for China, says Bitmain EMEA partner

Half of what was lost due to China’s crackdown on Bitcoin mining will not ever go back online, Phoenix Store's CEO says. Two weeks after a 15% increase in electricity prices in Turkey, a new store selling professional mining equipment has opened its doors in Istanbul —the business hub of the country— on July 13.

Bit Mining raises $50M to take operations out of China

Bit Mining is looking to exit China’s market in response to the recent government crackdown on mining. Shenzhen-based crypto mining firm, Bit Mining, is raising $50 million to fund an expansion out of the Chinese market.Announced on July 12, the firm has entered into an agreement with select institutional and accredited investors to raise $50 million through a private placement.

Bitcoin: Was the Chinese mining crackdown really about the environment

The recent miner exodus from China has been one of the biggest bumps the Bitcoin ecosystem has faced since its inception.

Bitcoin’s Slump Could Be ‘Calm Before Storm’: Glassnode

Bitcoin is slowly recovering from a recent market slouch and China’s crackdown on mining, according to Glassnode.

Former Bitmain CEO Jihan Wu: Regulatory crackdown may be good for crypto

Wu also pitched Singapore, where his current company Matrixport is based, as a strong contender to serve as "a hub for crypto innovations." Jihan Wu, crypto billionaire and the co-founder and ex-CEO of Bitcoin (BTC) mining giant Bitmain, believes that the current wave of regulatory interventions in the crypto industry may be “a good thing in the long term.”Speaking to CNBC during the Asia Tech x Singapore conference this week, Wu noted that the sector had already grown almost to “a trillion dollar market cap industry,” with over 10% of United States citizens having some involvement with the new asset class.

Crypto crackdown targeting USD access points has begun: Caitlin Long

Avanti’s Caitlin Long expects the US Federal Reserve to make it harder for crypto companies to access USD payment channels. Caitlin Long, the founder and CEO of the pioneering bank for the crypto sector, Avanti Bank & Trust, has declared that the regulatory crackdown on crypto “has begun.”In a lengthy tweet on July 13, the Wall Street veteran highlighted her thoughts on the current regulatory situation in the US, predicting that authorities will not target Bitcoin and Ethereum directly, instead opting to go after “intermediaries” and “access points” for US dollars into the sector.“The issue isn’t Bitcoin, Ethereum, or other crypto protocols, they’re just fine. The

Some Chinese Crypto Companies Still Hiring Employees Despite Crackdown

China’s most recent crypto crackdown may not be as watertight as first thought – with reports from the Middle Kingdom claiming that some domestic crypto-related companies are still recruiting new staff. Per the China Securities Journal, via East Money, a number of firms in cities such as the capital Beijing, as well as Shanghai and Chengdu, are still advertising jobs

Bitcoin price falls under $33K, but on-chain data hints at BTC accumulation

Signs of BTC accumulation begin to emerge as the network’s hashrate rises and exchange outflows increase in July. As the pressures placed on the market by China’s cryptocurrency crackdown begin to subside and the Bitcoin (BTC) hashrate starts to show signs of recovery, traders are now focused on how the price will be affected by this week's unlocking of more than $550 million worth of Grayscale's GBTC shares.Data from Cointelegraph Markets Pro and TradingView shows that the early morning downtrend in BTC on July 12 continued into the afternoon as the price of BTC dropped below the $33,000 support level after bears took control of the market.

Ukraine Uncovers Country’s Largest Illegal Mining Farm to Date

The Security Service of Ukraine (SBU) has located a massive coin minting facility that was illegally connected to the power grid in Vinnytsia.

Who can take advantage of China's Bitcoin mining crackdown

Bitcoin is created or mined by high-powered computers in different parts of the world, with each one of them participating to solve complex mathematical puzzles in a process that makes rigorous use ofThe post Who can take advantage of China's Bitcoin mining crackdown appeared first on AMBCrypto.

US crypto community overtaking Asia, says Mike Novogratz

“China has declared war on crypto as part of this broader cold war that we’re getting into,” Mike Novogratz stated. As Bitcoin (BTC) has continued trading sideways after dipping below $33,000 on Thursday, Galaxy Digital CEO Mike Novogratz has provided some geopolitical observations regarding the industry.In an interview with CNBC’s Squawk Box, Novogratz said that Bitcoin price is now consolidating between $30,000 and $35,000, suggesting that the United States’ crypto community is now taking the lead in the market amid a bearish trend coming from Asia.The longtime Bitcoin bull noted that China’s crackdown on the crypto market is part of broader issues in the market, stating:“What we’re seeing is Asia sells it off, and then the US buys it back.

Binance CEO Changpeng Zhao Ponders Regulation: ‘Compliance Is a Journey’ in Crypto

Binance CEO Changpeng Zhao stated his take on the recent regulatory crackdown Binance is facing.

EU to Propose New Anti-Money Laundering Body to Crack Down on Crypto: Report

The EU wants stricter crypto regulations as part of a wider crackdown on money laundering.

Bitcoin Mining Profitability Jumps, Hashrate Starts Picking Up Too

In the midst of China's crackdown on its miners, and following a historic drop in mining difficulty, Bitcoin (BTC) miners are now seeing much higher profitability.

UK Building Society Nationwide To Review Crypto Policies Amid Wider Crackdown

The world’s largest building society is the latest UK financial institution to ramp up its monitoring of consumers using crypto.

Despite the Crackdown, Crypto Fraudsters Still Run Amok in China

Against all odds, crypto fraud is reportedly on the rise in China, where a massive crackdown on mining, trading and crypto brokerage services appears to have failed to deter those hoping to get rich quick from crypto-themed schemes. Per the 21st Century Business Herald, a woman this month fell victim to a scam run by a bogus company pretending to operate a BNY Mellon app for

From mining to software: China's regulatory crackdown on crypto continues

Financial institutions, crypto miners, and now software companies — where will regulators in China move to strike next? Financial regulators in China have shut down a Beijing-based software company they suspect of providing services to crypto traders.In a Tuesday joint statement, the Beijing Financial Supervision and Administration Bureau and the Business Administration Department of the People's Bank of China issued a warning to all financial institutions and payment service providers to not provide any crypto-related services to customers.

China proves Bitcoin is an unstoppable machine: Bitcoin Center founder

Bitcoin price goes up once regulatory setbacks are digested by the crypto community, Zap Procotol co-founder Nick Spanos says. China’s crackdown on Bitcoin (BTC) mining continues to face determined responses across the crypto ecosystem.

IBC Group Plans to Relocate BTC Mining Facilities Out of China to the US, Canada, and More

Amid the ongoing crackdown on crypto mining in China, IBC Group plans to move its mining infrastructure out of the Asian country.

Joe Biden Directs US Intelligence to Investigate Ransomware Attack Against Florida IT Firm

Joe Biden wants to crackdown on ransomware according to statements he made on Friday, after hackers hijacked software from a Miami-based IT supplier called Kaseya.

China crypto ban a ‘huge opportunity for Canada,’ mining group head says

The diversified location of Bitcoin mining facilities following China's crackdown is great news for the rest of the world, iMining CEO Khurram Shroff says. China’s regulatory crackdown on cryptocurrencies continues to alienate major miners.

China Is Not Done Yet With Its Crackdown On Crypto Mining - Researcher

China appears ready to declare victory in its war with crypto miners – and could be prepared to issue a coup de grace in a bid to banish Bitcoin (BTC) mining from its shores once and for all. Per a report from the Economic Times – republished by the People’s Daily, the mouthpiece of the Chinese state – many miners are taking a “wait-and-see” approach, and are

Bitcoin miners pay attention, they 'WANT' you in Wyoming

The recent havoc caused by China's crackdown on Bitcoin mining activities has led to an exodus of miners; they're shifting their operational base to other geographical locations.

Huobi imposes 24 hr crypto withdrawal delay to dampen speculation

The exchange's decision aligns squarely with Beijing's ongoing and multi-pronged crackdown on the country's cryptocurrency investors in its attempt to prevent both capital outflows and volatility in the crypto sector. Huobi Global, currently the world's second-largest crypto exchange by daily traded volume, has introduced a 24-hour token withdrawal delay for all over-the-counter (OTC) trades. The decision strikes a blow to all Huobi users, some of whom will moreover be prevented from withdrawing their tokens for as long as 36 hours if the exchange's assessment system judges them to be at particularly high risk.

Thai SEC and Cayman Islands regulator take action on Binance

Thai SEC and the Cayman Islands Monetary Authority are the latest regulators to join the global scrutiny against Binance. Binance, the leading cryptocurrency exchange by trade volume, continues facing scrutiny from regulators regarding the legality of its operations in certain countries.Thailand’s Securities and Exchange Commission (SEC) and the Cayman Islands Monetary Authority (CIMA) are the latest financial regulators to announce a regulatory crackdown on Binance.Thai SEC announced Friday that the agency had filed a criminal complaint against Binance, launching a criminal procedure and an investigation for allegedly operating a digital asset business without a license.

Bitcoin Mining Difficulty Set to Plummet Following China's Crackdown

With China's Bitcoin miners forced to shut down or relocate, the difficulty of Bitcoin mining is about to drop by a massive 27%.

China's miner exodus a ‘big net positive for crypto,’ Mike Novogratz says

Despite China's undermining, Bitcoin still exists and survives in lots of ways, Galaxy Digital's CEO says. As major miners are leaving China one after another following the country’s crackdown on Bitcoin (BTC), Galaxy Digital CEO Mike Novogratz has echoed other experts in seeing the migration out of China as a positive development.Novogratz explained on Bloomberg that despite China’s attempt to undermine Bitcoin — like banning mining, banning leverage, and even banning Bitcoin in some places — the original cryptocurrency is still alive and kicking.

Crypto miner claims all major Yunnan operations shut down in advance of CCP anniversary

It's unclear if the shutdowns are due to orders passed down from above or the result of China's announced regulatory crackdown on crypto miners. Reports alleged that cryptocurrency miners in China’s Yunnan province may be out of commission for a day if not longer due to the Chinese Communist Party’s 100th anniversary celebration this week.According to Kevin Zhang, the vice president of mining infrastructure company Foundry Services, all major Bitcoin (BTC) mining farms in Yunnan have been shut down as of today.

China’s Ban Sparks Fears of Dirty Bitcoin Mining Practices

A senior academic is calling for a “coordinated global crackdown worldwide” on Bitcoin mining.

US Bitcoin Miner Blockware Raises $25M Amid Chinese Mining Crackdown

The firm recently purchased 14,000 Bitcoin mining rigs and is building a new flagship facility in Kentucky.

Hydropower Stations Up for Sale Amid China’s Crackdown on Crypto Mining

Small hydropower plants have been put up for sale in China as demand for their cheap energy decreases following the government’s crackdown on crypto miners.

Ethereum Hashrate Drops 25% on China Mining Exodus

The Bitcoin network is not the only victim of China’s ongoing mining crackdown as a substantial amount of Ethereum is also mined on the mainland.

China crackdown shows industrial Bitcoin mining a problem for decentralization

The great hash rate plunge caused by an exodus of miners from China shows large scale Proof-of-Work mining facilities are vulnerable to regulation. Bitcoin’s reliance on large-scale mining infrastructure and geographic concentration has been thrown into sharp relief by China’s recent mining crackdown.

Chinese Hydropower Plants Go On Sale Amid Bitcoin Mining Crackdown

With China forcing crypto miners out of business, owners of small hydropower plants are offloading their hardware.

Chinese hydropower plants on sale as crypto miners move abroad

Advertisements for small-scale hydro plants have reportedly surged on Chinese secondhand e-commerce platforms. Small-scale hydroelectric plants in China are reportedly looking for new customers as crypto miners go abroad amid a nationwide crackdown on mining activity.According to the South China Morning Post (SCMP), advertisements for small-scale hydro plants with 50-megawatt capacity have surged on Chinese secondhand e-commerce platforms such as Xianyu. According to the SCMP, some sellers claimed that their listings were unrelated to the cryptocurrency mining industry, while others said that their bids came as a result of the recent crackdown on crypto mining. One seller reportedly said that small dams rely on crypto miners for a customer base because they have not obtained approval from state authorities and environmental protection agencies to connect to the power grid. “You can secretly mine cryptocurrency if you buy a hydropower station,” one seller told the SCMP.The news comes as Chinese Bitcoin (BTC) miners are capitulating or relocating their operations to other countries.

Hydropower Plants in China Put on Sale Offering Secret Bitcoin Mining: Report

Amid the crackdown on BTC mining, owners of hydropower plants in China are selling their businesses and offering 'secret' mining.

Bitcoin and China: Why this move cannot be 'underestimated'

China’s crackdown on cryptocurrency mining operations in the country was widely discussed in the last couple of months.

Binance suspends popular fiat ramp for UK customers amid regulatory crackdown

Faster Payments is no longer an option for Binance customers in Britain amid increasing regulatory pressure. Binance’s UK customers are currently unable t use the popular local payments provider, Faster Payments, to withdraw British pounds (GBP) from the exchange. On Monday, June 28, a notice on the Binance website declared that GBP withdrawals via Faster Payments had been “suspended for maintenance,” according to the Financial Times.

Crypto Mining Rigs ‘Selling Like Scrap Metal’ as Mainland China Mood Darkens

The price of crypto mining hardware is plummeting in China, with reports of mining rigs selling “like scrap metal” on the Mainland as Crypto Crackdown 2.0 is forcing local mining companies to close down. Per Odaily, as well as Epoch Times and a report from the broadcaster NDTV, mining hardware prices have fallen by as much as 50% since April. The glut of

Bears back off, but Bitcoin price still wavers below $35K

Bitcoin price briefly surged above $35,000 to spark a relief rally in altcoins but a number of bearish factors still surround BTC. Although bulls made a show of force in the morning trading hours, Bitcoin (BTC) price is still pinned under the $35,000 resistance and unable to flip the 20-day moving average to support or secure a daily close above the level. Data from Cointelegraph Markets Pro and TradingView since rallying to $35,400 on June 28, Bitcoin has traded in a range between $33,850 and $35,000 as the fallout from China’s crackdown on BTC mining continues to reverberate across the market.

Binance Asks Users From Entire Canadian Province To Close Accounts Amid Crypto Exchange Crackdown

Binance is ending its services in Ontario, Canada as crypto exchanges in the province face heightened regulatory scrutiny.

China’s Oldest Exchange Exits Bitcoin Business Amidst Regulatory Pressures

BTCC, ostensibly the first cryptocurrency exchange established in China, exited the bitcoin trading business last week.

China Imposed Crypto Crackdown to Clear the Way for Its CBDC: Christopher Wood

The top executive at Jefferies - Christopher Wood - believes China cares mainly about its own digital yuan rather than BTC's carbon emissions.

Huobi bans crypto derivatives trading for users in China

Chinese users will no longer be able to trade crypto derivatives on the Huobi exchange amid a broader cryptocurrency crackdown from the government. Crypto exchange platform Huobi has updated its user agreement document, banning crypto derivatives trading for customers in China.According to the updated user agreement section of the Huobi Global website, the ban on crypto derivatives trading covers users in jurisdictions like China, Taiwan, Israel and Iraq.

Bitcoin’s Energy Consumption Has Nosedived Since China’s Mining Crackdown

Bitcoin has been consuming less and less energy ever since China cracked down on the Bitcoin mining industry.

Michael Saylor: China's Clampdown on Crypto will be a "Trillion-Dollar-Mistake"

MicroStrategy CEO Michael Saylor said the recent Chinese crackdown on cryptocurrency and mining activities would be a trillion-dollar mistake.

Despite regulatory uncertainty, Indian crypto investment surges 19,900% in one year

Unperturbed by persistent threats of a renewed crypto crackdown from lawmakers, Indian investors have piled $38.8 billion into cryptocurrency over the past year. Despite India’s uncertain regulatory climate regarding crypto assets, nationwide investments in digital assets have increased by roughly 19,900% over the past year.According to data from blockchain analytics firm Chanalysis that was reported by Bloomberg on June 28, crypto investments increased during mid-2020 before going parabolic as the markets surged into new all-time highs towards the end of the fourth quarter.Chainalysis estimates the total invested in crypto across India grew from $200 million to $40 billion over roughly the past year, with the firm estimating 15 million Indians are exposed to cryptocurrency.Monthly value of fiat invested into crypto by Indians: ChainalysisThe data illustrates the positive impact of the Indian Supreme Court’s March 2020 decision to overturn the Reserve Bank of India’s ban on financial institutions providing banking services to firms operating with digital assets.However, it has not been entirely smooth sailing for India’s crypto sector since the Supreme Court repealed the RBI ban last March, with lawmakers frequently threatening new legislation prohibiting crypto assets over the past 15 months.In spite of the persistent threats of a renewed regulatory crackdown, Sandeep Goenka, the co-founder of local exchange ZebPay, highlighted growing appetites for digital assets among Indian’s aged 18 to 35, noting a preference to invest in crypto over gold.

Regulators in UK, Japan Issue Warnings on Binance Amid Crackdown on Unauthorized Crypto Exchanges

Top financial regulators in England and Japan have independently issued warnings on Binance for offering crypto exchange services to residents of the two countries without being registered with the regulators as required by law.

Hashing out a future: Is Bitcoin hash rate drop an opportunity in disguise?

China’s crackdown on Bitcoin mining sparks a restructuring of the distribution of the ecosystem, impacting the hash rate in the short run. China’s crackdown on Bitcoin (BTC) mining operations has led to a significant drop in the network’s hash rate, but industry participants believe it presents an incredible opportunity for the wider mining ecosystem.China has long been a major contributor to the Bitcoin mining space, at times accounting for more than 70% of the global hash rate of the world’s preeminent cryptocurrency.

Ontario Crackdown on Crypto Exchanges Continues With Binance Leaving the Province

Cryptocurrency exchange Binance will no longer provide services in the Canadian province of Ontario.

Binance to cease operations in Ontario following regulatory crackdown

Ontario's crypto exchange crackdown continues as Binance plans to end operations Dec.

Bitcoin's Hash Rate Recovers From China's Mining Crackdown

Though things are far from back to normal.

Here's when to expect a 'sudden shift' in XRP's price

The fall in Bitcoin’s hashrate after China’s recent crackdown on crypto-mining undoubtedly instilled a sense of fear in the market.

Bitcoin Hash Rate Goes On Death Spiral Post China’s Crackdown On Miners

The great Bitcoin miners migration is well underway.

Bitmain ceases Bitcoin miner sales to aid second-hand sellers following China ban

The Bitcoin mining crackdown in China has significant ramifications for the cryptocurrency industry.

Bitcoin Transaction Fees as a Percentage of Total Miner Revenues Hit Lowest Point Since June 2020

BTC transaction fees have plunged based on the ongoing Chinese crackdown on Bitcoin mining facilities.

Topnotch Bitcoin Mining Machine Manufacturer Bitmain Suspends Sales due to Chinese Crackdown

The world's top bitcoin mining machine manufacturer Bitmain Technology Co., Ltd.

Bitcoin Mining Might Become More Easier and Lucrative Following China’s Crackdown

While Chinese authorities were intensifying the Bitcoin (BTC) mining crackdown, some crypto experts believe this might be a blessing in disguise to this sector.

Here’s What China’s Bitcoin Mining Crackdown 2.0 Looks Like

Chinese crypto miners are reluctantly calling it a day – with reports of miners nationwide shuttering their operations, going offline, and either selling their equipment for reduced prices or relocating overseas. The alacrity of Middle Kingdom’s Crypto Crackdown 2.0 has blindsided many, although there were warning signs in some areas earlier this year, particularly when

Bitmain Suspends Sales of Bitcoin Mining Machine Amid China Crackdown

The Bitcoin mining manufacturer has suspended sales of machines amidst China’s crackdown on the mining industry.

Bitmain reportedly suspends Bitcoin miner orders amid booming secondhand supply

By postponing the sales, Bitmain aims to help miners exiting the industry get better prices for mining equipment. Chinese mining giant Bitmain is reportedly scrambling to respond to market conditions amid a major crackdown on the crypto mining activity by local authorities.According to a Wednesday report by Chinese news agency Sina Finance, Bitmain has halted global spot sales for its new Bitcoin (BTC) mining devices in order to avoid losses by customers amid massive selling on the secondary market.By postponing the sales, Bitmain intends to help miners exiting the industry get better prices for mining equipment as well as protect the firm from further price decline over the longer term, Bloomberg reported.

Chinese crypto mining firm Canaan sets up shop in Kazakhstan amid crackdown

Canaan has started mining Bitcoin with its latest Avalon Miner units in Kazakhstan after setting up a service center in the country earlier this month.

Latest South Korean Tax Evasion Busts: Crypto Worth USD 47m Seized

The South Korean crackdown on high-band taxpayers who have used crypto purchases to hide the scale of their earnings from the taxman has rolled on to the affluent Gyeonggi Province, catching some big fish – with crypto confiscated from rich doctors and TV stars. Since gaining the powers they needed to access crypto exchange data in March this year, tax bodies across the

Bitcoin price bounces to $33K but analysts say ‘it’s too early’ to call a bottom

Dip buyers stepped in as Bitcoin price fell to $29,000 but analysts caution that China’s crackdown on BTC mining and a lack of buy volume mean the crypto market has not found a bottom yet. Cryptocurrency investors found little reprieve on June 22 as the price of Bitcoin (BTC) fell below $30,000 for the first time since January, sparking panic among less experienced market participants who have yet to experience a full market cycle. While Bitcoin has been under increasing pressure from multiple sources since early May, the most recent bout of selling has been largely attributed to capitulation by China-based miners who have been forced to abruptly shut down their operations.

Bitcoin, Litecoin, Chainlink Price Analysis: 22 June

Bitcoin fell by nearly 22% over the weekend owing to the latest in China's mining crackdown episode.

Iran Seizes 7,000 Crypto Miners Amid Bitcoin Energy Crackdown

Iran put a four-month moratorium on crypto mining in May.

With crypto mining banned in Iran, local authorities seize 7K rigs

The police chief of Tehran said authorities had raided 50 locations across the Iranian capital in the last 48 hours, discovering 3,000 illegally operating crypto miners. Iranian provincial police are continuing their crackdown on crypto miners big and small, with news surfacing that they have confiscated more than 7,000 rigs at a farm operating in the capital of Tehran.According to a Tuesday report from the country’s state-run media, the Islamic Republic News Agency (IRNA), police seized crypto miners that were operating out of an abandoned factory.

Bitcoin price clings to $32K as on-chain metrics hint at further downside

China’s continued crackdown on Bitcoin mining and OTC transactions, along with prolonged technical weakness, triggered BTC’s drop to a 6-month low. Cryptocurrency investors awoke to another round of price declines on June 22 after the price of Bitcoin (BTC) dropped to a 6-month low at $28,805.

China’s 2021 Bitcoin Crackdown: What You Need to Know

Tensions are running high as Bitcoin's hashrate plummets and Chinese authorities issue new warnings to banks.

A ‘seismic mining shift’ may be driving Bitcoin price below $30K: Report

The benchmark cryptocurrency slipped briefly under the $29,500-level this Tuesday as a Glassnode report indicated possibilities of miner capitulation in China. Bitcoin (BTC) plunged 7.38% to hit its five-month low of $29,313 on Tuesday as the market stared at the prospect of another sell-off, this time led by miners affected by a recent crackdown against cryptocurrency entities in China.Bitcoin drops below $30K for the first time since January 2021.

Bit Mining Moving 3,000 Bitcoin Mining Machines to Kazakhstan Following China Crackdown

Shenzhen-based Bit Mining has started shipping bitcoin mining machines to Kazakhstan as the Chinese government cracks down on bitcoin mining operations in the country.

The China Effect: Bitcoin’s Hashrate to an 8-Month Low as the Issuance of New BTC Slows Down

The Chinese crackdown on BTC mining has harmed the network as the hash rate is down to its lowest level since November last year.

Bitcoin Falls Below $30,000 For First Time Since January

The leading cryptocurrency has finally fallen through the psychological threshold of $30,000 amid a fierce regulatory crackdown in China.

China’s crackdown means Bitcoin is working, says crypto miner

A former crypto exchange engineer believes that China's ban on Bitcoin mining is “fantastic news.” China’s crackdown on Bitcoin (BTC) mining and cryptocurrency trading recently became a primary driver for the red candlesticks on crypto market charts.

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

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.

Mad Money’s Jim Cramer Dumps His Bitcoin Over China Mining Crackdown and Ransomware Concerns

Mad Money host Jim Cramer said he has sold almost all of his bitcoin.

Canadian Regulator Adds Bybit to Crypto Exchange Crackdown

The Ontario Securities Commission says Bybit is "operating an unregistered crypto asset trading platform."

Dogecoin Drops 15% as Meme Cryptocurrency Continues Weeks-Long Slide

As a firm crackdown in China has crippled Bitcoin, a broad swath of the crypto markets have tanked alongside the leading coin.