Chinese Mining Exodus Leads to ASIC and GPU Second-Market Surplus and Lower P...
While bitcoin miners in China have been scrambling, second-hand markets offering cryptocurrency mining rigs from ASICs to GPUs have been exploding with an excess surplus. Additionally, the ASIC manufacturer Bitmain suspended machine sales on Wednesday, ceasing international spot deliveries. Official Crypto Mining Rig Dealers Are Either Sold-out or Suspending Deliveries, Second-Markets Explode With Mining Products and Low Prices per Hash Ever since the crackdown in Sichuan, the number of miners fleeing mainland China seems to have increased a great deal. Bitcoin’s overall hashrate....
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China's bitcoin mining crackdown has led to Bitmain halting mining rig sales, exodus of miners and decline in the hash rate.
As bitcoin mining increasingly becomes more of a professional pursuit, hobbyists and newcomers have turned their attention to scrypt mining. So, at CoinDesk, we wondered, 'why not try scrypt mining ourselves?'. Watch the video to see how well we fared: . We got our hands on a Gridseed G-Blade miner, one of the first scrypt miners in the market to use ASIC chips. ASIC chips have been used to mine bitcoin for over a year, now they are making their way into scrypt mining. That's making scrypt even more attractive to newbies. MinerEU is the European distributor for the China-based manufacturer....
Countries vie for cryptocurrency miner business as Chinese miners move to greener pastures. Here's where they are ending up. A few months ago, the crypto industry was shaken up by the news of the mass exodus of miners from China. At the end of May 2021, it became known that the Chinese authorities were going to ban Bitcoin (BTC) mining, bringing the already existing regulatory pressure on miners to a breaking point.The list of banned operations includes purchasing cryptocurrencies, as well as any related investment activities, crypto trading and exchange. The People’s Bank of China had....
Yet another ASIC mining company has entered the fray - and this time, with an extremely bold performance claim. Cointerra promises the smartest chip design and the best price-performance ratio we've yet seen in the ASIC market. But can customers afford to wait for it? The ASIC mining business was all about getting to market first, and we have seen some embarrassing episodes along the way, with some firms repeatedly setting back delivery dates, and revising power-performance ratios. But designs have also been getting more sophisticated. One of the biggest innovations has been in the process....
Bitcoin mining took a big hit when the Chinese authorities commenced a crackdown on crypto mining. This had led to an exodus of miners out of China. Which had been the world’s headquarters of mining at the time. Over 70% of the entire mining in the world is carried out in China before the crackdown […]