Bitcoin mining difficulty rising again as miners resettle and get back to work
The global Bitcoin hashrate is now on an uptrend as miners pushed out by China resettle on friendlier shores and resume investing big money in mining equipment.
Articles by
Kelly Le
As a journalist, Kelly has covered stories at South China Morning Post, People's Daily, and Beijing News. She received a Master of Journalism from the University of Hong Kong, and a B.A. in TV Editing / Directing from the Communication University of China in Beijing.
July 2021
Chinese authorities swoop on 380 suspected crypto and wire fraud groups in 1H 2021
Wire fraud, including cryptocurrency-related fraud, becomes fastest-growing crime as scams — some even involving China’s digital yuan project — proliferate.
Crypto mining rig giant Bitmain divests from AntPool, the world’s biggest mining pool
Bitmain’s move comes amid China’s crypto mining crackdowns and AntPool’s shrinking hashrate. Is Bitmain gussying up for an IPO?
Chinese e-commerce giant Taobao sells NFTs at annual shopping festival
Demand for non-fungible tokens appears insatiable as industry distances itself from crypto sector to avoid crackdown.
U.S. senators ask athletes to boycott digital yuan at Beijing Winter Olympics
Privacy concerns prompt call for Americans to avoid e-CNY as lawmakers point to use of WeChat app to ‘surveil, threaten and arrest Chinese citizens.’
China’s digital yuan moves a step closer with smart-contract technology
Central bank in apparent push for adoption ahead of Olympics as it doubles up on warning over non-state cryptocurrencies.
Chinese crypto news service forced to shutter site
Bishijie’s suspension deprives users of industry news and community forum as Beijing continues campaign targeting cryptocurrency sector.
New crypto mining firms in China now in scramble to leave
The9 and BIT Mining — non-crypto firms that pivoted to crypto mining during Bitcoin’s boom — now seek to ‘expand’ overseas.
China closes high-profile blockchain center, citing ‘registration’ issues
Closure of center comes despite — or perhaps because of — professional pedigree of crypto exchange founder board members.
Software firm Meitu loses US$17.3M on Bitcoin
Higher value of Ether investments softens blow to value of Bitcoin holdings.
June 2021
Chinese cities roll out digital yuan to public transport networks
Adoption of e-CNY for urban transport networks marks first step in wider introduction of state-backed digital money.
Part 3: Digital dragons and digital dollars
In the last installment of a 3-part series on blockchain in China, Forkast.News examines: Everyone knows money has value. But does it also have ‘values’?
Part 2: China lays digital groundwork for a new Silk Road
How China’s deployment of the digital yuan intertwines economics with geopolitics and concrete with virtual infrastructure, from Cambodia to the Caribbean.
Special series: China bets on the blockchain
Long before most governments, the Asian superpower saw the potential in Bitcoin’s technology to spawn the next internet and a new form of money.
China sets out stall with digital yuan. Here comes the sales pitch
Urged on by the authorities, banks have wasted little time in putting e-CNY infrastructure in place, but now comes the hard part — getting people to use it.
Chinese crypto miners head west as Beijing’s crackdown gains pace
Kazakhstan offers nearby bolthole as North America and Europe beckon.
As Shanghai gives away digital yuan, we hit the streets with a man spending it
Money may be easy to part with when it’s free, but as Shanghai’s first experimental e-CNY giveaway shows, it’s not so easy finding shops to take it.
Hashrate drops as Chinese crypto mining ban extended to more provinces
Cryptocurrency mining prohibition in Xinjiang and Qinghai follows Inner Mongolia ban.
Saudis lead $30M Series A for China nationwide blockchain network manager
Beijing-based Red Date Technology — the face of China’s ambitious nationwide blockchain service network — receives a big investment boost.
Smartphone giant Huawei doubles down on blockchain technology
Following blockchain’s mention as a next-wave technology in China’s five-year plan, Huawei unveils applications for government and in-house services.
May 2021
China’s cryptocurrency mining sector becomes target of fresh clampdown
Chinese authorities’ latest regulatory offensive against the crypto industry may not be as bad for the sector as it appears.
What will happen if Hong Kong bans retail investors from trading crypto?
Hong Kong is poised to ban small investors from buying cryptocurrencies, while making exchanges get licences. Industry experts discuss how this might play out.
China Merchants Bank launches US$50M DeFi, dApp fund with Nervos
Privately owned Chinese lender continues to target blockchain opportunities as it remains shut out of Beijing’s digital yuan project.
China’s new digital yuan wallet with fingerprint ID causes privacy worries
Chutian Dragon and IDEX Biometrics offer DCEP digital currency wallets with fingerprint recognition. The companies say the feature enhances security.
Chia mining craze is causing massive hard drive shortages in China
The new self-proclaimed eco-friendly crypto leverages unused disk space — but Chia miners are buying out new hard drives and equipment instead.
China’s banks unveil ATM for foreigners to use digital yuan
China’s DCEP digital currency, not yet officially launched, take another leap forward with unveiling of prototype ATMs that convert foreign money to e-CNY.
April 2021
China’s crypto miners make hard choices to meet climate goals
With Inner Mongolia banning crypto-mining and Xinjiang expected to soon follow, China’s crypto miners are turning to green energy or moving overseas.
Internet giants JD.com and Ant Group deepen support for China’s digital yuan
China intensifies its nationwide digital currency testing via JD.com paying employee salaries in digital yuan and Ant Group’s MYbank offering e-yuan services.
China tightens cryptocurrency oversight with new regulations
Beijing’s new warning against cryptocurrency comes days before regulations aimed at preventing illegal crypto fundraising take effect May 1.
How China’s DCEP digital yuan could reshape geopolitics and change the world
One year after China unveiled a digital currency via testing, its potential for displacing dollar diplomacy is becoming more understood. Is the US worried yet?
Crypto assets should be regulated as “alternative investments”, China’s central bank officials said
China’s central bank is exploring a new stance towards Bitcoin and other cryptocurrencies, now calling them investment vehicles – but not currency
One year after China began testing its digital yuan, China watchers wonder how close it is to launching?
Look for nifty DCEP wallets to make a debut at the 2022 Beijing Olympics
Security exec allegedly steals $45M in Chinese government-owned crypto
A young executive with Beosin, tasked to protect cryptocurrency that police recovered from another crime, allegedly then lost it all in a Bitcoin bet gone bad.
Hong Kong-listed Meitu buys more Bitcoin, now has US$100 million in crypto
Shares are up 75% since the beauty selfie app company began investing in Bitcoin and Ether to try to boost its flagging fortunes.
Will China’s rising crypto crimes prompt tighter regulation?
Rising Bitcoin prices have inspired a wave of crypto-related Ponzi schemes, fraudulent giveaways and other scams around the world — especially in China.
How blockchain can cut down fraud in the wine industry
High-tech solutions like blockchain, IoT, NFC and DLT are increasingly used to authenticate fine wine and detect counterfeits in China and around the world.
March 2021
China writes blockchain and digital currency into nation’s future
China’s new five-year plan — its blueprint for development — pours resources into ‘new infrastructure’ like blockchain technology and DCEP’s digital yuan.
World’s first major crypto art show opens in Beijing
Headlined by crypto art superstars Beeple and Robert Alice, the in-person exhibit also features works by Chinese artists. Next stop: Shanghai.
Who is really leading the global blockchain patent race?
Boosted by state incentives, companies in China are filing more blockchain patent applications than anywhere else. But how many patents got awarded?
Beauty selfie app Meitu buys another $50 million in bitcoin and ether
Another financially troubled Chinese company turns to blockchain to improve its bottom line — this time, by buying up cryptocurrency a la Tesla.
What does Weibo’s takedown of Binance & Huobi mean for crypto in China?
China’s Twitter-like platform disabled the crypto exchanges’ accounts on the same day China vowed to ‘crack down’ on businesses that sound like crypto.
China’s bitcoin miners flee Inner Mongolia ahead of crypto mining ban
One of world’s biggest bitcoin-producing regions will soon ban cryptocurrency mining to meet China’s clean air goals. Where will all those miners go?
Non-crypto firms in China jump into bitcoin mining to lift fortunes
Inspired by bitcoin’s boom, companies with no business in crypto are pivoting to cryptocurrency mining. A New York investors lawsuit offers a cautionary tale.
February 2021
The brief, meteoric rise of crypto Clubhouse in China
Now that China’s censors are blocking Clubhouse, what are the popular audio networking app’s mainland members doing? VPNs are the new velvet ropes.
Hong Kong plans to ban retail investors from trading cryptocurrency
Industry insiders warn that proposed rule to allow only ‘professional investors’ to buy and sell crypto could drive companies to crypto-friendlier shores.
Bitcoin miners seek 2nd hand gear to drive output amid rally
Tesla’s bitcoin dive is recharging an already hot crypto market, worsening the run on new mining equipment and heating up the second-hand rig market.
China’s BSN will add CasperLabs’s proof-of-stake blockchain to its network
Casper Network goes big on its ‘first of many’ expansion ambitions in Asia by receiving the nod to join both BSN China and BSN International.