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.
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.
China’s blockchain network at new milestone with open permissioned chains
Tai’an and WenChang chains join BSN China’s ‘Open Permissioned Blockchain Initiative’ as nation grows its blockchain network while maintaining controls.
January 2021
Digital payments — not cash — is now king in Asia’s payment ecosystem
Singapore and Thailand launch the world’s first real-time cross-border digital payment system. Here’s what else is happening in Hong Kong and China.
China’s blockchain network adds CBDC payment layer, ConsenSys as partner
BSN’s new digital payment network will be a boon to Ethereum, stablecoins and CBDCs like China’s DCEP digital yuan while keeping other cryptos out.
China’s DCEP digital yuan wraps up another mass test
Now renamed e-CNY, China’s new digital yuan has now been tested by 250,000 shoppers in two cities. Is it finally close to launch?
China tests new phone-free DCEP e-RMB card for helping rural poor
As China presses its digital currency closer to launch, a Shanghai test reveals features aimed at the 700 million Chinese without mobile phones or the internet.
December 2020
China’s 5 hottest blockchain developments in 2020
With DCEP nearing launch, China is having a banner year in blockchain-related technologies. Here’s what’s hot in China and what’s too hot to touch.
Hong Kong may be first global ‘sandbox’ for China’s DCEP digital yuan
Hong Kong is in talks to pilot-test China’s new digital currency. How would the e-CNY affect Hong Kong’s future cross-border payments with the mainland?
China widens DCEP digital yuan tests, advancing global ambitions
In biggest test yet of China’s CBDC, 100,000 Suzhou residents will use e-RMB for holiday shopping. Hong Kong is also now laying groundwork for future.
November 2020
Was China Construction Bank’s $3 billion blockchain bond doomed from the start?
Beijing put a stop this week to Fusang’s China Construction Bank bond listing on the Ethereum blockchain. What was the Chinese government afraid of?
Is China trying to put its cryptocurrency industry out of business?
After crackdowns on crypto exchanges, China is now freezing bank accounts. Why is the world’s largest bitcoin producer tightening the vise over its miners?
China’s OKEx crackdown is a warning shot to other crypto exchanges
Cryptocurrency exchanges flying flags of convenience is sure to annoy China’s regulators and may no longer be a viable business strategy.
October 2020
Macau is using blockchain to bring back tourists. Is Hong Kong next?
A blockchain-based health code system that can certify a visitor’s Covid-free status has reopened travel between Macau and mainland China
PwC’s ‘Time for Trust’ report misses mark on blockchain in China
The ‘Time for Trust’ report downplays the growing impact that blockchain is having on China’s economy. Here’s what’s really going on with this technology.
China pushes 50,000 people to spend DCEP right away, in biggest test yet of new digital currency
China advances its new e-RMB closer to launch after distributing to Shenzhen residents 10 million yuan in digital ‘red packets’ that will expire next week
China leads in blockchain patent filings, but how much of that is real?
Blockchain patent filings may not be indicative of China’s technological prowess or patent quality — especially when standards are questionable
September 2020
Ahead of massive IPO, Ant Group launches blockchain platform for global B2B trade
The Chinese fintech giant rolls out its ‘Trusple’ platform for cross-border business uses, on the eve of an IPO anticipated to be the largest in the world.
China’s national blockchain network offers 24 new chains to users for free—with a catch
China’s latest state-backed blockchain initiative’s official name proclaims that it is ‘public.’ But is it really? Forkast.News explains.
US private equity activity takes a walloping due to Covid-19
Deals in mid-size firms that make up the engine of the economy were down as exits were put on pause — but fintech and broader tech sector still shine bright
Tencent Cloud continues blockchain expansion with two new platforms
Aside from cross-chain compatibility and scaling, the Shenzhen tech giant is also aiming to resolve data privacy and security issues in healthcare and finance.
August 2020
How close is China’s digital currency DCEP to launching?
As China’s digital currency begins large-scale testing, business giants like Didi and Meituan appear to be signing on. What does China’s central bank say?
July 2020
Why 10,000 Antminers disappeared from Bitmain-owned crypto mining farm
Latest salvo in Bitmain’s epic civil war: World’s largest crypto mining equipment maker accuses estranged co-founder of absconding with customers and a big chunk of the world’s hashing power.
Bitmain drama escalates as co-founder registers new bank account, website
In this chapter in the saga of the troubled mining company, ousted co-founder Micree Zhan establishes new online presence
June 2020
Will the glare of Justin Sun blind the public to TRON 4.0?
Ahead of the revamped blockchain platform’s July 7 launch, TRON’s flamboyant founder woos fans with gifts. But some netizens find him hard to love.
China uses blockchain to ease cross-border finance barriers in Greater Bay Area
Hong Kong, Macau and Guangdong have three legal and monetary systems. A new blockchain banking platform would unify the area into an economic hub.
China’s ‘Gaokao’ college entrance exam may have a question on bitcoin mining
10 million Chinese high schoolers will soon take the equivalent of the SAT or A-Levels, and it looks like they better study up on how crypto gets made.
Why China’s state media is rebuking Binance while lauding Huobi
Is it because Huobi has an in-house Communist Party relations office, while rival exchange Binance does not? Gather ’round for a Tale of the Two Cryptos.
China’s new DCEP could fast-forward the nation into a cashless society
The rest of the world may worry over the new e-RMB and what it could do to the US dollar. But inside China, will yet another digital payment system even matter? Forkast.News finds out what the laobaixing think.
May 2020
China will soon have its first bachelor’s program in blockchain. Why isn’t the talent-starved industry more excited?
Blockchain education conundrum: China wants blockchain growth, but its tech labor supply “quality” falls short of high employer demands. A Forkast.News exclusive report on a new program in Chengdu and clues to what might be holding China back.
April 2020
How China hot-housed a new technology and 35,000 ‘blockchain’ companies bloomed
How is China hot-housing this new technology, and are all these blockchain companies for real? Forkast.News takes a deep dive into the data to find the truth behind the numbers.
November 2019
Binance’s corporate registration in China lapsed in 2018
The crypto exchange has a presence in China, but not an official registration.