Bitcoin’s current setup creates an interesting risk-reward situation for bulls


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’s BSN Ready With Blockchain Cloud Service for August Launch: Report  


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

Why We Can’t Trust Bitcoin Mining Hash Rate Data From China


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

New Data Shows China Still Controls 21% Of The Global Bitcoin Mining Hashrate


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 Emerges as Leading Bitcoin Mining Hub a Year After Crackdown: Cambridge Data


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

China Emerges As Second-Largest Bitcoin Mining Hub Despite Ban


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 returns as 2nd top Bitcoin mining hub despite the crypto ban


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

Shanghai court affirms that Bitcoin is virtual property, subject to property rights


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