But “even after that adjustment, mining is still so profitable that everyone and their grandma will want to plug in their machines as fast as possible,” Mellerud said. “It definitely looks like the hashrate will hit an all-time high before the new year, unless we get another brutal bitcoin sell-off shortly after the next difficulty adjustment.” Source link … [Read more...] about Bitcoin Hashrate Approaches Full Recovery From China Crackdown
Crackdown
Bitcoin (BTC) hashrate recovers from China’s crackdown
Earlier in the year when China renewed its hostilities towards the crypto industry, one metric that saw a negative effect of the crackdown was the Bitcoin mining hashrate that plummeted by more than 50% during this period largely because crypto miners were being pushed out of the Asian country.Bitcoin mining hashrate recovers from China banWith erstwhile Chinese miners finding … [Read more...] about Bitcoin (BTC) hashrate recovers from China’s crackdown
Chinese Cybersecurity Firm Qihoo 360 Says It Has Built Crypto Mining Monitoring Software to Support Crackdown
Qihoo 360 found that 109,000 mining IP addresses were active daily on average in November, mostly in the provinces of Guangdong, Jiangsu, Zhejiang, and Shandong, the company said. Miners mainly use home broadband, enterprise-dedicated internet connections, and data centers, Qihoo 360 said. Source link … [Read more...] about Chinese Cybersecurity Firm Qihoo 360 Says It Has Built Crypto Mining Monitoring Software to Support Crackdown
Nigerian Payments App Reportedly Suspending Operations Due to Government Crackdown on Crypto
Nigerian payments app KurePay plans to suspend operations in the country after the government began cracking down on crypto exchanges, according to a report by local crypto publication Cryptoassetbuyer.The report said that KurePay is leaving Nigeria “largely due to the increasing hostile regulatory environment” for cryptocurrency service providers.KurePay’s decision to suspend … [Read more...] about Nigerian Payments App Reportedly Suspending Operations Due to Government Crackdown on Crypto
Some Chinese Crypto News Sites Appear to Go Dark As Crackdown Continues
Chinese crypto news sites ChainNews, Odaily, and information platform Block123, were inaccessible on Wednesday, as the Chinese government continues to crack down on the crypto industry.ChainNews posted its Telegram account on its Twitter on Nov. 15, saying it would be offline for 8-10 hours as the site undergoes maintenance. When asked via Telegram on Nov. 17 why the site was … [Read more...] about Some Chinese Crypto News Sites Appear to Go Dark As Crackdown Continues