Energy

China’s bitcoin miner exodus

0


Technicians make repairs to bitcoin mining machines at a mining facility operated by Bitmain in Ordos, Inner Mongolia, China, on Friday, Aug. 11, 2017.

Qilai Shen | Bloomberg | Getty Images

China has long been home to more than half the world’s bitcoin miners, but now, Beijing wants them out ASAP. 

In May, the government called for a severe crackdown on bitcoin mining and trading, setting off what’s being dubbed in crypto circles as “the great mining migration.” This exodus is underway now, and it could be a game changer for Texas.

Mining is the energy-intensive process which both creates new coins and maintains a log of all transactions of existing digital tokens. 

Despite a lack of…



Source cnbc.com

0 0 votes
Article Rating

Best Buy will sell luggage, grills as it tries to tap into travel, real estate trends

Previous article

Lordstown Motors shares soar after new chairwoman says production plans remain on track

Next article

You may also like

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More in Energy