Western Bitcoin Miners Win Big During China Crackdown

Fewer new bitcoin may be hitting the market because miners in China can't sell their bitcoins due to a crackdown by their government.

The China crackdown on Bitcoin Miners is now proving to be a blessing in disguise. After two months of the issue, surviving mining firms are now minting huge profits from their operations. The truth is that the incident pushed a lot of miners out of operations. So, the competition reduced, and those still standing are […]

The bitcoin mining crackdown was one of the major moves by a government that rocked the crypto space. The crackdown saw the mass exodus of bitcoin miners out of the presumed mining capital of the world as the Chinese government ramped up its efforts to push the miners out. During this time, the mining hash rate from the region had crashed to nearly zero. Miners moving out of the country had had to quickly move their mining rigs and find new homes for them. During this time, the hash rate and by extension, the price of bitcoin, had suffered extensively but with time, bitcoin miners had....

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 […]

Earlier in the year, China had embarked on what is considered the biggest crypto crackdown to date. The country has had a tumultuous relationship with the crypto space in the past, announcing various bans. But the severity of its last crackdown had led to the exit of miners out of what was said to be […]