sichuan – DIGIT INFO

Court Decision Voids Crypto Mining Contracts in China, Shuts Down Bitcoin Farms

DIGIT — Thu, 16 Dec 2021 13:37:17 +0000

A court in Beijing has ruled that three investment agreements for bitcoin mining operations in Sichuan are “invalid.” A compensation claim has been rejected in the case, viewed as an indication that the Chinese judiciary would not provide protection for crypto-related interests. Beijing Court Invalidates Bitcoin Mining Contracts The Chaoyang District People’s Court in the […]

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Geographic Distribution Data Shows US Takes Leading Bitcoin Mining Position After China’s Crackdown

DIGIT — Wed, 13 Oct 2021 17:30:28 +0000

After China has reigned for a number of consecutive years as the dominant bitcoin mining epicenter of the world, the United States has “taken the leading position in bitcoin mining,” according to new data from Cambridge University. Data Shows US, Kazakhstan, Russian Federation Rule the Bitcoin Mining Roost In mid-July, researchers from the Cambridge Bitcoin […]

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While Chinese Bitcoin Miners Escaped Crackdowns, Sichuan’s Hydropower Plants Were Not So Lucky

DIGIT — Mon, 02 Aug 2021 16:30:24 +0000

Regional reports from China indicate that government officials have been reviewing over 5,100 small-sized hydropower plants in order to get them to adapt to China’s cleanup and rectification process concerning future energy sources. China has pledged to be carbon neutral and ultimately have zero carbon emissions by 2060 and the recent crackdowns on bitcoin miners […]

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University of Cambridge Bitcoin Mining Map Shows China’s Hashrate Dropped to 46%

DIGIT — Thu, 15 Jul 2021 20:00:48 +0000

After the researchers from the Cambridge Bitcoin Electricity Consumption Index (CBECI) project said that the website’s “Bitcoin Mining Map” had not been updated since April 2020, the map has finally been updated. Current data from the mining map shows the coverage goes all the way up until April 2021, and the estimate of China’s hashrate […]

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Hydropower Stations Up for Sale Amid China’s Crackdown on Crypto Mining

DIGIT — Wed, 30 Jun 2021 07:00:25 +0000

Small hydropower plants have been put up for sale in China as demand for their cheap energy decreases following the government’s crackdown on crypto miners. Just as with mining rigs, their prices have been going down, leaving owners with limited options to recoup their investments. Ads for Hydropower Plants Appear on Xianyu Marketplace Advertisements for […]

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Bitcoin’s Hashrate Drops Below 100 Exahash, Observers Describe China’s ‘Great ASIC Exodus’

DIGIT — Wed, 23 Jun 2021 16:30:41 +0000

Most of the crypto community has been focused on the developments in China and more specifically, the crackdowns against bitcoin miners in Inner Mongolia, Xinjiang, Qinghai, Yunnan, and Sichuan. On Wednesday morning (EST), Bitcoin’s overall hashrate has continued to drop and is now below the 100 exahash per second (EH/s) region. During the last 24 […]

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PBOC Instructs China’s Banks to Forbid All Cryptocurrency Related Activities Immediately

DIGIT — Mon, 21 Jun 2021 12:30:44 +0000

China’s central bank has sent notice to the country’s financial institutions instructing them to stop dealing with cryptocurrency transactions. The disclosure notes that the People’s Bank of China (PBOC) aims to protect Chinese citizens and “combat the speculation of Bitcoin and other virtual currency transactions.” PBOC Tells Banks to Stop Dealing With Crypto Exchanges and […]

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Bitcoin hashrate hits 8-month low as Chinese miners power down

DIGIT — Mon, 21 Jun 2021 06:08:46 +0000

Bitcoin’s hashrate plummets to roughly 91 EH/s as Sichuan miners close up shop.

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Sichuan Mining Farms Begin to Shut Down — Seven-Day Stats Show Bitcoin’s Hashrate Plummeting

DIGIT — Sun, 20 Jun 2021 19:00:12 +0000

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 […]

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Figuring Out How Much Bitcoin Hashrate Resides in Mainland China Still a Mystery

DIGIT — Sat, 19 Jun 2021 21:30:59 +0000

Over the last few weeks, there have been many reports about crackdowns in China tied to bitcoin mining operations in various provinces. 30-day statistics show the hashrate has been fluctuating wildly, and across the last week it has slid downward roughly 26%. Reports Show Bitcoin Mining Crackdowns in Five Chinese Provinces Despite the slide, the […]

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