Beijing’s drive to stamp out crypto mining and the slump in crypto prices are headwinds that Canaan says it knows how to deal with, adding that the crypto winter may be shorter than expected.
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Authorities and Bitcoin miners play a cat-and-mouse game as miners find means to stay off the government radar and dodge crackdowns.
Chinese authorities cracked down on crypto related crimes on Consumer Rights Day. Meanwhile in Kazakhstan, the former President’s brother was busted for illegal crypto mining operations.
Political chaos and power shortages are causing miners to flee a nation that only recently became the world’s second-largest Bitcoin producer.
Crypto market concerns over invasion on Ukraine;, while Thailand plans for crypto regulation.
Internet blackouts are partially restored but access remains unpredictable to support full crypto mining, industry players say.
China’s e-CNY app downloaded 16 million times meanwhile in Kazakhstan the outages hit miners
Kazakh riots hit miners, meanwhile Fed hits crypto market
Bitcoin hashrates tumble as miners unprepared for an outage, experts say.
Xive co-founder tells Forkast.News no mining is possible in the south, while other regions still survive.
China may be banning crypto mining activities, but rig makers appear to be spared from the clampdown.