Shanghai Man: Bitcoin interest drops in China amid crackdown on social media and miners
This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations. This week, following a tumultuous few weeks of regulation, the Bitcoin world’s focus shifted to Miami and Latin America. Searches for Bitcoin on […]
Did a massive Chinese power outage cause Bitcoin’s crash down to $50K?
Woo noted reports identifying the blackouts were published late last week, with the power outages occurring to facilitate safety inspections in response to a recent flooding accident at a local coal mine that saw 21 miners temporarily trapped underground after power and communications went down. According to the Cambridge Bitcoin Energy Consumption Index, or BECI, […]
Chinese mining pools’ hash power plummets amid regional blackouts
The hashing power of top Bitcoin mining pools located in Northwest China appears to have plummeted due to a regional blackout to enable safety inspections. The news was reported by Wu Blockchain, the author of Chinese crypto newsletter Wublock, who noted significant drops in the hash rate of several major pools — with Antpool crashing […]