Author: Wolfie Zhao

China Police Said to Detain Crypto OTC Traders Amid Money Laundering Crackdown – CoinDesk

CoinDesk

As Chinese police step up efforts to crack down on illegal economic activities, crypto over-the-counter (OTC) traders are being detained to assist investigations.  In another sign Chinese law enforcement are targeting cryptocurrency trading, Zhao Dong – a prominent Chinese crypto Read More

Chinese City Known for Bitcoin Mining Seeks Blockchain Firms to Burn Excess Hydropower – CoinDesk

CoinDesk

A Chinese city in the world’s bitcoin mining hub is publicly encouraging the blockchain industry to help consume excessive hydroelectricity ahead of the summer rainy season. Ya’an, one of the many cities in China’s mountainous Sichuan province, a region that’s Read More

China’s Rainy Season Is Coming. This Time Bitcoin Miners Aren’t Investing – CoinDesk

CoinDesk

Spring is usually a welcome time of year for bitcoin mining businesses in China. The upcoming rainy season brings excessive hydropower, making electricity cheap and mining more profitable … all else equal. This year, however, two key variables have changed, Read More

MicroBT Rolls Out 3 New Bitcoin Miners to Compete With Bitmain Ahead of the Halving – CoinDesk

CoinDesk

Shenzhen-based MicroBT is rolling out three new top-of-the-line bitcoin miners amid heated competition with Bitmain ahead of the network’s halving event in less than 30 days. Chen Jianbing, COO of MicroBT, announced in an online event on Friday that the Read More

Bitcoin’s Computing Power Is Growing Again After Coronavirus-Related Disruption – CoinDesk

CoinDesk

The computer processing power of the bitcoin network is growing again – albeit slowly – as major Chinese miner manufacturers gradually resume business after the coronavirus outbreak delayed shipments. The average hashing power on bitcoin (BTC) over the past seven Read More

World’s Top Crypto Miners Race to Roll Out Top-of-Line Machines Ahead of Bitcoin Halving – CoinDesk

CoinDesk

Two of the largest bitcoin mining equipment manufacturers are in a neck-and-neck race to roll out top-of-the-line machines ahead of bitcoin’s halving event in less than three months. On Thursday, Beijing-based mining giant Bitmain launched its latest AntMiner S19 and Read More

Bitcoin Mining Unit Manufacturer MicroBT Nibbles at Bitmain’s Market Share – CoinDesk

CoinDesk

Bitcoin miner maker MicroBT has rapidly expanded market share by selling over half a million units in 2019, chipping away at rival Bitmain’s dominance. MicroBT sold about 600,000 units of its flagship WhatsMiner M20 series last year, Vincent Zhang, sales Read More

How Was It Possible for Bitmain to Oust Its Largest Shareholder Overnight? – CoinDesk

CoinDesk

Co-founder Ketuan “Micree” Zhan was stripped of his director role at not only Beijing Bitmain Technology, but the cryptocurrency miner maker’s parent entity, BitMain Technologies Holding Company, corporate records show. A filing of the Cayman Islands–incorporated holding company, submitted Dec. Read More

Lawsuit Shows How a Public Firm’s $80M Bet on Bitcoin Miners Went Terribly Wrong – CoinDesk

CoinDesk

In March 2018, shortly after bitcoin’s bull run to $20,000, a publicly-traded Chinese company invested 500 million yuan, worth $80 million at the time, to buy 100,000 bitcoin mining units.  As the bear market kicked in during the months that Read More