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China – Page 102 – DIGIT INFO

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While China’s Bitcoin Miners Flock to Central Asia Canaan Sets up ASIC Mining Rig Service in Kazakhstan

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On Monday, the application-specific integrated circuit (ASIC) manufacturer Canaan Inc. announced the company has established an overseas after-sales center in Kazakhstan. According to Canaan, the service center will provide local customers with after-sales services like machine testing, warranty services, maintenance, and technical consultation. Chinese Miners Are Focused on Relocation, Canaan Opens Mining Rig Service Center … Read more

Weibo Cracks Down Crypto Related Accounts as China Strengthens Its Anti Crypto Stance

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Sina Weibo, the Chinese equivalent of Twitter, banned the accounts of several key cryptocurrency and defi influencers in the country yesterday, according to reports from local sources. This might be a continuation of the anti-crypto stance the Chinese state has been exerting since 2013, and more profoundly in the last days with the crackdown of … Read more

Shanghai to Hand Out $3 Million in Digital Yuan Lottery

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As part of government efforts to get the digital yuan going, authorities in Shanghai will distribute $3 million worth of the central bank-issued currency among residents of Shanghai. The digital money will be dispersed through a lottery, a method that has already been implemented elsewhere in China. Lottery Winners to Get 350,000 Digital Red Envelopes … Read more

Amundi Executive Pascal Blanque Calls Cryptocurrencies a Farce

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Pascal Blanque, CIO of Amundi, one of the biggest asset managers in Europe, has stated that bitcoin and other cryptocurrencies are a farce, exposing its skeptical stance on the real value of cryptocurrencies. The investor stated that crypto assets are an expression of markets making bubbles and that investors should focus on other more logical … Read more

Beijing to Disperse $6 Million in Digital Yuan in a Red Envelope Lottery

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China’s central bank digital currency (CBDC) continues to gain further ground as the Beijing Local Financial Supervision and Administration Bureau revealed 40 million worth of the country’s digital yuan ($6.3 million) will be distributed to Chinese citizens. Beijing and China’s Central Bank Launches Digital Yuan Lottery The People’s Bank of China (PBoC) and Beijing Local … Read more

Canaan Expects $250M Revenue in Q2 — Yields and Mining Rig Deliveries to ‘Increase Substantially’

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The mining rig manufacturer Canaan saw steady profits during the Q1 after reporting its unaudited first quarter 2021 financial results on Tuesday. Canaan noted that it expects to at least sustain current profits or rise above to roughly $150 to $250 million in revenue for Q2. Canaan Expects $250M in Revenue for Q2 – Company … Read more

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