Top Bitcoin Miner Explains Implications Of China’s New Policies Against This ...
China is set to clarify its new policy for the Bitcoin mining sector in the coming weeks. For the first time, a high-ranking Chinese government official has spoken about a change in the status quo that rules this BTC mining. Jiang Zhuoer, founder of BTC.TOP, one of the world’s largest crypto mining operations, shared some […]
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The still-ongoing fallout of events spurred on by the People Bank of China’s (PBOC) involvement in the country’s bitcoin trading market has led to HaoBTC – a bitcoin company known prominently as a mining pool – to shut down its lesser-known bitcoin exchange operation, launched in April 2016. HaoBTC was among the 9 bitcoin exchanges held to a closed-doors meeting by the PBoC on Thursday. A miner operating with 110 Petahash to control a little over 4% of bitcoin’s network, HaoBTC has announced the removal of its exchange service to its users. The mining pool, which also launched a Hashrate....
Bitcoin miner revenues have been in decline since the bear trend began and this has led a good number of miners to sell their BTC holdings in order to keep their operations afloat. However, the expectation that the bear market would soon resolve and miners would once again be in the green has since gone out the window. With miner revenues continuing to plummet, miners may have to resume selling off their holdings to keep up with the market. Miner Revenues Fall For the past week, there has been no change in the downtrend in miner revenues. On-chain metrics show that it was down 0.59% from....
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