China’s Carbon Neutral Stance Puts Pressure on BTC Miners, Sichuan Electricit...
Bitcoin’s global hashrate dropped ten days ago following a coal mine accident that caused significant grid blackouts in Xinjiang, China. While initial estimates had shown more than 40% of the hashrate dropped, statistics from a five-day average show the hashpower only lost around 25%. Meanwhile, Chinese miners located in Sichuan may put more pressure on hydropower resources, as province officials have revealed electricity rates are scheduled to increase 150% this year. Sichuan Electricity Trading Division Report Notes Electrical Prices in the Region Will Increase by 150% Mining....
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According to regional reports, bitcoin miners in Sichuan have been told by the Ya’an municipal government that they have until June 25 to shut down operations. Sichuan has been eyed closely in recent times as it’s estimated that a large demographic of miners are situated in the region. Sichuan Ya’an Energy Bureau Tells Bitcoin Miners to Close Shop Sichuan power plants have been told to stop servicing bitcoin miners in the area according to reports stemming from the Ya’an municipal government. The regional publication Panews was told by an “insider” that....
According to reports, Sichuan’s Ya’an municipal government has asked Bitcoin miners to shutdown operations in the city. None of the three local sources available at the moment mention how long the crypto mines will remain closed. Chinese crypto media outlet PANews says, Officials from related authorities, including the city’s energy bureau and technology bureau, had […]
The hashrate of the Bitcoin network has been steadily falling since June 14 and after Sichuan miners were told to prepare operation shutdowns. Sichuan is the second-densest province in China where most miners are located, according to data stemming from the University of Cambridge. Bitcoin’s hashrate is now hovering just above 100 exahash per second (EH/s). Bitcoin Hashrate Keeps Falling as Sichuan Farms Shut Down Operations The hashrate of the Bitcoin network has been steadily falling. The cause of this seems to be the shutdown of several cryptocurrency farms in various provinces....
China’s province of Sichuan is known for its spicy food flavors. Now, though, it’s becoming known as something else: a bitcoin mining capital. It was in 2013 that China was first thought to have discovered bitcoin and since then the country has been making up for lost time in mining the digital currency. What, though, has that got to do with the province of Sichuan? Well, according to the China Money Network, since 2015, over 30 percent of China’s bitcoin mining machines have been purchased from the Sichuan province. Considering that around 70 percent of bitcoin’s global computational....
After introducing a new carbon-neutral system for Bitcoin investment in April, One River Digital has already applied for a carbon-neutral BTC ETF. Institutional investors have been showing a stronger appetite for a carbon-neutral Bitcoin (BTC) investment solution by One River Digital Asset Management.One River Digital, a crypto-focused hedge fund offering exposure to Bitcoin and Ether (ETH), announced Wednesday that an “overwhelming majority of assets” in its institutional Bitcoin fund have chosen to switch to One River’s new carbon-neutrality share class.In April, the company introduced a....