Ultimate magazine theme for WordPress.

Underground bitcoin mining in China surges amid ban

Bitcoin production in China continues despite Beijing’s strict ban on crypto mining

China was once the largest crypto mining center in the world.

And Bitcoin miners are not giving up despite Beijing’s ban on the practice.

Since then, several underground mining operations have sprung up in China, with miners careful to circumvent Beijing’s ban.

Last year, Chinese authorities launched a new crackdown on crypto and phased out mining to combat the creation of new digital currencies.

Many miners fled to other countries, including the US and China-bordering Kazakhstan.

But now, new research from Cambridge shows that Chinese bitcoin mining activity has recovered quickly.

This is a notable comeback after China’s share of global bitcoin mining dropped to zero in July

Within a few months, the new data suggests that China accounted for just over 22 percent of the total bitcoin mining market

Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers

Comments are closed.

%d bloggers like this: