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“# China crackdown shows industrial Bitcoin mining a problem for decentralization ” Bitcoin’s reliance on large-scale mining infrastructure and geographic concentration has been thrown into sharp relief by China’s recent mining crackdown. In May, China announced that it would be getting tough on crypto mining and trading as a response to financial risks. The nation’s…
“# Argo Blockchain receives $20M Bitcoin-backed loan from Galaxy Digital for Texas mining facility ” Galaxy Digital has issued a $20 million loan to U.K.-based crypto mining company Argo Blockchain for building a data center in West Texas. In a Tuesday announcement from Argo, the firm said it had secured £14 million — roughly $19.4…
“# Chinese hydropower plants on sale as crypto miners move abroad ” Small-scale hydroelectric plants in China are reportedly looking for new customers as crypto miners go abroad amid a nationwide crackdown on mining activity. According to the South China Morning Post (SCMP), advertisements for small-scale hydro plants with 50-megawatt capacity have surged on Chinese…
“# Active Bitcoin miners now ‘unlikely’ sellers thanks to profit boost — data ” Bitcoin (BTC) miners are “unlikely” to pressure BTC price by selling coins in the coming weeks, new data says. As part of its latest weekly report, The Week On-chain, analytics resource Glassnode sought to allay fears of another large miner sell-off….
“# Key Bitcoin price indicator flashes its ‘fifth buy signal in BTC history’ ” The cryptocurrency market found itself in a state of cautious optimism on June 28 after Bitcoin (BTC) price briefly spiked above $35,500, renewing hopes that the bull trend will resume shortly. Despite the bullish move, some analysts have warned that the…
“# Crypto miner Hut 8 plans to hold 5K Bitcoin by 2022 ” Toronto-based crypto mining firm Hut 8 said it plans to increase its self-mined Bitcoin holdings based on its expectation it will be able to expand its hashrate by 400%. According to a Monday announcement, Hut 8 said it expects to hold 5,000…
“# Iranian trade ministry issues 30 crypto mining licenses ” Iran’s Ministry of Industries, Mining and Trade issued operation licenses for 30 crypto mining centers in the country, the country’s Financial Tribue reported last Wednesday. Citing data from the ministry’s website, the report says that Iran’s Semnan province received the largest amount of licenses, with six…
“# Biggest ever mining difficulty drop: 5 things to watch in Bitcoin this week ” Bitcoin (BTC) starts a new week with a key weekly close under its belt and everything to play for — can it hold higher? After the weekend saw moderate volatility, including a retest of $30,000 support, BTC/USD is back above…
“# Hashing out a future: Is Bitcoin hash rate drop an opportunity in disguise? ” China’s crackdown on Bitcoin (BTC) mining operations has led to a significant drop in the network’s hash rate, but industry participants believe it presents an incredible opportunity for the wider mining ecosystem. China has long been a major contributor to…
“# Crypto in Canada: Where are we today, and where are we heading? ” Digital currencies are quickly becoming more mainstream within the Canadian financial landscape. Alongside this increased adoption, Canada has been relatively successful at creating a stable regulatory environment. In 2014, Canada established itself as a leader in the global digital asset space…