Private China Meeting Unites Bitcoin Mining Industry Leaders
More than 50 representatives from China's key mining equipment manufacturers held a first-of-its-kind, three-day gathering in Shenzhen this week, demonstrating just how integral the region is for the world's digital currency hardware infrastructure. Initially billed as a 'private meeting', the event was perhaps most impressive due to the sheer number of industry representatives present. By one estimate, attendees accounted for 30% of the world's bitcoin hashing rate and 100% of the current scrypt-coin hashing rate, though other projections were higher. One source told CoinDesk: "People in....
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Credit China Fintech Holdings Ltd., a Hong Kong-based industry investment firm has entered a $30 million agreement with bitcoin- and blockchain-industry giant BitFury. The deal will see an investment in Bitfury shares and a new joint-venture effort focusing on the Chinese market. An announcement [PDF] by BitFury reveals that Credit China Fintech will aid the industry firm to maximize “the adoption of the Bitcoin Blockchain and private Blockchains” into Credit China’s various FinTech investments and platforms. A report by CNBC points to further details about the joint venture to be a....
Mining City’s growth throughout 2020 has been significant. With an easy-to-use website, thousands of community members active all over the world and regular promotions, now is a great time to begin reaping the possibilities that Mining City (www.miningcity.com) has to offer in 2021. What Is Mining City? Mining City is an initiative that unites people through mining cryptocurrency. Using a “mining plan” structure it gives its users the opportunity to obtain hash power needed for mining. This hash power entitles them to a portion of the total mining reward. Put simply, once....
On Friday, the cryptocurrency community discussed a report stemming from China’s 51st meeting of the Central Financial and Economic Affairs Commission that reiterated warnings about bitcoin mining. The following Sunday, reports disclosed the cryptocurrency operation Huobi has suspended its cloud-mining operations and other crypto services to customers in mainland China. Rumors of China and Bitcoin’s Uneasy Relationship Continue It was said on many occasions in 2017 that bitcoin (BTC) was resilient to negative news from China, after the tumultuous year of bad news from China....
The People’s Bank of China, the country’s central bank, is continuing its involvement in looking into bitcoin exchanges’ activities in the country by holding a ‘closed-door’ meeting with domestic bitcoin exchanges. According to a Bloomberg report, PBOC officials are meeting representatives from a number of regional bitcoin exchanges in a private meeting on Wednesday afternoon, local time. The publication’s source points to money laundering as one of several topics on the agenda in the closed-doors meeting. The PBOC has publicly revealed its involvement and several ‘on-site inspections’ for....
China's CITIC bank brought together banks, economists and businesses in Beijing late last month for a seminar devoted to the impact of blockchain tech on financial services. In total, more than 50 people attended the seminar according to the bank, including representatives of Minsheng Bank, China Everbright Bank, Hua Xia Bank, Prudential Bank and Sunshine Insurance Group, along with delegates from Air China, China Eastern Airlines and Shenzhen Airlines. Researchers from Beihang University were also present. During the meeting, CITIC president Sun Deshun outlined the potential of blockchain....