A slight improvement in equities markets and the resilience of a few key BTC price metrics are giving bulls hope of a reversal. The Bitcoin (BTC) chart has formed a symmetrical triangle, which currently holds a tight range from $28,900 to $30,900. This pattern has been holding for nearly two weeks and could potentially extend … Read more
China may have banned cryptocurrencies on its territory, but blockchain technology remains a key priority area for the government. Its global ambitions in this space are just taking off with BSN Spartan Network, which is advertised to be open-source and free from the Chinese government’s snooping. BSN’s Spartan Network Blockchain-based Service Network (BSN), a project … Read more
The changing proportion of Bitcoin network hash rate emanating from China can be explained by the inherent flaws in how this data is collected. China has “re-emerged” as a major bitcoin mining hub in 2022, representing more than 20% of the Bitcoin network’s hash rate, according to new data from Cambridge’s Centre for Alternative Finance … Read more
China is back with a vengeance. The Cambridge Centre for Alternative Finance, or CCAF, collected data “spanning the period from September 2021 to January 2022” for their latest study. The headline is that, ban or no ban, the Asian country controls 21% of the Global Bitcoin mining hashrate. Since June 2021, here in NewsBTC, we’ve … Read more
China outlawed Bitcoin mining last May. Exactly a year later, the country has re-emerged as the leading venue for mining operations. A new study revealed underground mining activity in the country had catapulted it to second place globally in terms of installed mining capacity. China’s Apparent Comeback Cambridge Centre for Alternative Finance (CCAF) reported the … Read more
A report from Cambridge exploring bitcoin mining shows the U.S. as the dominant global player and China in second despite the country’s ban last year. New data from Cambridge details a portrait for the global hash rate of bitcoin mining. The U.S. is solidifying its position as the global leader with 37.84% of the global … Read more
China still hosts 21% of the total global Bitcoin hash rate after the local government banned all crypto operations in the country last year. The Chinese government has not managed to take down cryptocurrency operations as part of its crypto ban last year as China has re-emerged as one of the world’s largest Bitcoin (BTC) … Read more
A district court in Shanghai ruled on a Bitcoin owner’s right to compensation in a case involving an unpaid loan and decided on Bitcoin’s legal status in the process. The Shanghai High People’s Court has issued a document in which it states that Bitcoin is subject to property rights laws and regulations. That finding was … Read more