Chinas

A timeline of China’s bitcoin mining crackdown and how it goes beyond environmental concerns

A timeline of China’s bitcoin mining crackdown and how it goes beyond environmental concerns

Quick Take China’s crackdown on bitcoin mining has led the network’s hash rate to drop by more than 50%. But what caused the negative approach? Was it just environmental concerns? This timeline maps out how the crackdown developed, while exploring the reasons behind it. This feature story is available to subscribers of The Block Daily. …

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Beijing, Suzhou enable China's digital yuan payments for subways

Beijing, Suzhou enable China’s digital yuan payments for subways

The Chinese capital city of Beijing has extended the testing of China’s central bank digital currency, dubbed the e-CNY, to its railway system. The municipal government of Beijing said in an announcement Wednesday that users who have activated the standalone digital yuan mobile app via the Industrial and Commercial Bank of China (ICBC) are now …

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Poolin launches Ethereum hash rate token worth $30 million

Poolin halts payout for BTC, ETH hash rate tokens after China’s crackdown

Poolin, one of the major Chinese crypto mining pools, has temporarily halted the bitcoin and ether mining payouts to users who have staked their hash rate tokens on Poolin’s Mars protocol. Poolin said in a blog post on Friday that the operations of its proprietary bitcoin miners that serve as the underlying assets backing its …

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China’s crackdown on bitcoin mining has probably already made the network greener — for now

China’s crackdown on bitcoin mining has probably already made the network greener — for now

Quick Take Xinjiang said to have shut down nearly two gigawatts of coal-based bitcoin miners. Sichuan has also ordered some miners to shut down. The global environmental implications for the bitcoin network depend on where China’s miners decide to move. This feature story is available to subscribers of The Block Daily. You can continue reading …

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