wet season – DIGIT INFO

Bitcoin Hashrate Slides- Low BTC Prices, Sichuan Wet Season, Upcoming Difficulty Spike to Blame

DIGIT — Thu, 20 May 2021 19:00:12 +0000

While bitcoin prices plummeted this week, the network’s hashrate has also dropped considerably since tapping a high on May 9. Since then, the hashrate has seen swings between 10-15% because of the crypto market downturn, alleged issues with power outages in Sichuan, China, and the upcoming difficulty change. Similar to the Price, Bitcoin Hashrate Sees […]

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BTC hash rate slumps amid seasonal miner migration in China

DIGIT — Tue, 27 Oct 2020 03:01:38 +0000

Analysts are anticipating Bitcoin’s second-largest negative difficulty adjustment of the year following the end of Sichuan’s rainy season.

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Authorities in Sichuan Go After Miners to Save Electricity in the Dry Season

DIGIT — Sat, 28 Dec 2019 20:05:21 +0000

Regional authorities in the province of Sichuan are reportedly pressuring bitcoin miners to scale down operations amid electricity shortages during the dry season in Southwest China. A meeting has been scheduled with regulators, the state run grid operator and mining companies. Two hydropower stations have been fined already for powering bitcoin farms without authorization. Also […]

The post Authorities in Sichuan Go After Miners to Save Electricity in the Dry Season appeared first on Bitcoin News.

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Chinese Bitcoin Miners Migrate North After Wet Season

DIGIT — Thu, 10 Oct 2019 03:35:22 +0000

A China-based crypto news outlet recently published a comprehensive report on the costs associated with building a digital currency mining farm in China. Additionally, the local publication revealed that Chinese miners are starting to migrate north to access cheap thermal power and wind power after the wet season in Sichuan. Also read: RBI Ban Stops […]

The post Chinese Bitcoin Miners Migrate North After Wet Season appeared first on Bitcoin News.

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74% of the World’s Bitcoin Mining Operations Driven by Renewable Energy Says Report

DIGIT — Fri, 07 Jun 2019 15:22:03 +0000

There’s a lot of debate over whether bitcoin mining is bad for the environment. Many bureaucrats and mainstream media pundits claim that mining is wasteful and bitcoin’s energy consumption cannot be ignored. However, these claims have been refuted in the past and on June 6, Coinshares published a report that details mining is not environmentally […]

The post 74% of the World’s Bitcoin Mining Operations Driven by Renewable Energy Says Report appeared first on Bitcoin News.

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