Bitcoin Hashrate Drops Over 45%, Xinjiang Grid Blackouts Blamed, BTC Price Slides 10%

Bitcoin Hashrate Drops Over 45%, Xinjiang Grid Blackouts Blamed, BTC Price Slides 10%Since April 15, the Bitcoin network hashrate has dropped more than 49% after touching an all-time high at 218 exahash per second. Regional reports noted that in China the Xinjiang grid is having blackouts and “safety inspections.” Reports Claim Blackouts in Xinjiang, China Have Pushed Bitcoin’s Hashrate Down 49% At the time of writing, the […]

Go to Source

Powered by WPeMatico

China’s Inner Mongolia Plans to Shut Down Bitcoin Mining Operations by April This Year

China's Inner Mongolia Plans to Shut Down All Bitcoin Mining Operations by April This YearInner Mongolia, an autonomous region in northern China, is planning to shut down all cryptocurrency mining activities in the area by April 2021, as part of efforts to improve energy efficiency. Regulating the Electrical Consumption in Inner Mongolia The government of Inner Mongolia will also stop approving new projects in energy-intensive industries such as steel […]

Go to Source

Powered by WPeMatico

Confusion Grows Surrounding Official Chinese Position Regarding Bitcoin Mining

Confusion Grows Surrounding Official Chinese Position Regarding Bitcoin MiningIn recent days a number of conflicting reports have surfaced pertaining to the stance of China’s government with regards to bitcoin mining. Last week, Bloomberg reported that the People’s Bank of China (PBOC) had met to discuss curbing mining operations in China, whilst Chinese media reports denied such – however, it has since emerged that […]

The post Confusion Grows Surrounding Official Chinese Position Regarding Bitcoin Mining appeared first on Bitcoin News.

Go to Source

Powered by WPeMatico

Chinese Authorities Ask Local Miners to Submit Monthly Status Reports

Chinese Authorities Ask Local Miners to Submit Monthly Status ReportsXinjiang Province regulators have issued an official document informing local bitcoin miners to submit status reports on a specific schedule. Also Read: Japanese ‘Virtual Currency Girls’ Spreading Cryptocurrency Knowledge     An Orderly Exit Bitcoin mining companies were told to write a status report before Jan. 5, according to a government notice signed by a Xinjiang […]

The post Chinese Authorities Ask Local Miners to Submit Monthly Status Reports appeared first on Bitcoin News.

Go to Source

Powered by WPeMatico