‘Reiterated FUD’ – Chinese Government to Continue Monitoring Bitcoin Mining ...
A recent report from the Chinese government’s financial committee has reiterated the country’s stance on bitcoin mining and that it would continue to monitor the sector closely. The report follows a recent article from Reuters published three days ago, which also reiterates China’s older warnings against the crypto industry. Chinese Government Report Mentions Bitcoin Mining, Announcement Sparks Speculation On Friday, a report stemming from China’s 51st meeting of the Central Financial and Economic Affairs Commission led by the organization’s director, Liu He,....
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Reporter Colin Wu shared news published by Chinese state media PengPai related to Bitcoin mining activities by the national government. At the very least, China’s view of cryptocurrencies is ambiguous, but according to the report they have been dabbing with BTC. The state media confirmed a rumor on the Beijing government’s collection data center being […]
Government efforts to identify and disconnect mining farms from the electrical networks will continue, according to the announcement. The Kazakh Ministry of Energy announced that it has discovered and terminated 13 cryptocurrency mining operations. The government executed the shutdown as part of its efforts to regulate the Bitcoin (BTC) mining sector, which has grown increasingly popular in recent years.As per the official statement, the miners were using a lot of energy, with a total power consumption of 202 megawatts. According to the Kazakhstan government, efforts to identify and....
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....
The crypto community reportedly expects Kazakhstan’s internet and mining industry to return to normal by next Monday. Despite major internet blackouts amid anti-government protests in Kazakhstan, some Bitcoin (BTC) miners operating in the country are not planning to leave the country just yet.BIT Mining, one of the largest BTC mining companies that relocated operations from China to Kazakhstan last year, is still evaluating the impact of political unrest in Kazakhstan, Chinese industry news agency 8btc reported Friday.“It is unlikely that our mining machines will be evacuated to North....
Alibaba, the Chinese e-commerce giant, has announced it will no longer allow the sale of cryptocurrency mining gear on its platform. The sales behemoth made this announcement yesterday via its official website. The move is a direct consequence of the latest ban the Chinese government has applied to cryptocurrency trading and mining. Other institutions and exchanges have also been affected.
Alibaba Bans ASIC Miner Sales
Alibaba, one of the biggest sales companies in China, has announced it intends to ban the sale of cryptocurrency miners and cryptocurrencies themselves on its....