$84,065.00
0.50%$1,818.16
-0.09%$2.09
1.85%$598.61
-0.43%$118.34
-0.63%$1.00
0.00%$0.166475
1.05%$0.66261
1.82%$0.238505
1.52%$1,816.95
-0.04%$84,011.00
0.57%$3.58
-5.09%$9.38
-0.83%$13.06
0.45%$0.263447
0.40%$1.00
-0.03%$2,183.21
0.25%$18.59
0.65%$2.26
-3.12%$0.00001237
1.01%$0.16478
0.51%$84.70
1.07%$4.09
1.94%$308.63
1.23%$6.30
-0.94%$4.56
-0.46%$0.999555
-0.02%$0.999187
-0.06%$1,816.64
-0.29%$1,937.04
0.05%$27.77
-0.37%$216.77
1.40%$11.81
-1.17%$0.550207
-13.09%$5.98
-0.18%$5.07
-3.39%$2.54
2.63%$1.046
0.02%$0.00000706
-2.51%$47.11
-0.50%$84,181.00
0.65%$22.14
-0.22%$33.38
-2.32%$0.096302
0.47%$0.825835
1.52%$5.22
1.62%$0.750751
-1.95%$16.39
-0.48%$152.05
-1.23%$0.996794
-0.02%$1.17
-0.24%$4.79
8.50%$1.00
0.00%$9.57
2.94%$0.02219199
2.01%$2.90
5.48%$218.63
2.91%$83,642.00
0.58%$0.067081
5.01%$4.04
-0.12%$3.28
-1.68%$0.318183
-1.33%$2.83
-1.75%$0.19046
2.96%$0.18507
3.79%$0.491504
4.55%$0.316179
2.87%$83,917.00
0.61%$10.15
-5.44%$0.832312
2.43%$0.715817
1.20%$0.440441
0.38%$0.39636
4.09%$1,318.37
2.47%$1,815.92
-0.26%$4.20
-3.59%$1.072
4.09%$1,889.45
-0.13%$0.066454
-0.61%$69.71
4.56%$1.00
-0.05%$123.37
-0.38%$0.383076
-2.31%$0.764945
2.05%$0.585464
-0.46%$2,056.42
0.01%$0.00001125
1.07%$0.999808
-0.02%$0.999873
0.03%$14.71
-1.54%$8.50
0.74%$0.463794
-2.27%$0.998438
0.06%$0.164957
-0.61%$0.01312729
0.81%$0.083995
0.74%$0.790055
-0.33%$3,109.34
-1.54%$0.847453
2.16%$1.00
0.01%$83,161.00
0.90%$597.92
-0.46%$1,928.30
0.03%$0.539794
2.19%$3,107.81
-1.26%$0.65355
0.65%$83,833.00
0.26%$0.01525892
2.48%$0.264986
1.82%$0.516137
-11.55%$0.108877
3.56%$5.79
-9.85%$39.21
0.32%$1.001
0.04%$0.00000063
0.04%$0.167801
2.23%$1.99
-4.06%$30.65
-0.38%$0.375318
1.23%$1,890.91
-0.30%$151.60
-0.48%$1.83
-0.39%$0.00005613
1.22%$1.001
0.18%$1.93
26.54%$1.81
2.33%$1.001
0.05%$3.18
10.49%$2.82
-0.53%$15.21
-0.12%$0.010272
3.12%$129.70
-0.98%$0.99759
-0.16%$0.070124
0.18%$0.132693
-0.31%$0.619948
2.26%$81,796.00
-0.54%$1.00
0.03%$0.463831
19.30%$0.497634
13.21%$0.99995
0.00%$0.0049469
7.80%$0.242823
2.04%$5.84
-9.73%$27.50
0.68%$1.00
0.04%$0.44646
-8.97%$2.74
-2.23%$1,929.64
-0.04%$0.400739
-2.81%$15.31
-1.18%$0.00000043
0.41%$84,078.00
0.62%$0.166444
1.11%$84,388.00
1.34%$0.666697
-1.27%$0.081559
1.99%$1,818.99
-0.07%$1.08
0.07%$0.999446
-0.13%$110.55
0.01%$45.14
-2.98%$1.14
0.49%$0.137893
1.95%$1,816.15
-0.30%$0.04188181
3.38%$0.086721
3.46%$1,817.84
-0.01%$0.00001953
1.38%$5.86
-0.12%$1.10
-0.46%$0.38161
0.50%$0.00677783
8.88%$83,865.00
0.57%$0.18576
1.99%$1,899.76
0.05%$0.139409
22.60%$0.562051
-3.14%$0.446365
0.56%$0.999317
0.03%$0.999554
0.00%$0.00658474
1.00%$0.815992
-1.03%$0.190882
2.46%$4.73
1.86%$2.99
12.61%$0.350348
0.11%$1,824.05
-1.20%$0.00005969
1.60%$0.999303
0.02%$1,815.42
-0.07%$0.00371392
4.99%$0.03148977
0.64%$0.03115598
2.83%$0.0000015
-9.55%$117.24
0.70%$0.00482274
-0.06%$0.37098
-8.92%$1.42
-5.19%$0.00890916
0.20%$0.519618
-5.87%$0.999917
-0.09%$1.00
0.08%$83,803.00
1.84%$1,789.46
-0.83%$0.234565
2.89%$1.14
-1.01%$1,817.97
-0.00%$2.87
-1.38%$1.14
-0.62%$83,861.00
0.63%$0.604957
-0.58%$0.226421
0.03%$21.64
-0.08%$3,092.08
-1.15%$0.518483
0.42%$1,917.78
-0.54%$0.185846
0.86%$0.00285028
-7.10%$1,989.98
-0.08%$3.20
-5.23%$15.15
-0.68%$0.118045
0.99%$0.03050179
4.68%$1,975.19
-0.37%$21.82
2.81%$0.237142
-0.81%$0.00315839
6.26%$1,686.19
0.43%$0.96284
2.47%$0.101863
-0.66%$1,816.04
-0.64%$0.03291242
1.36%$0.061607
1.44%$0.655485
-0.93%$0.0112354
1.57%$0.47804
-5.02%$0.515869
-1.32%$0.00209575
-0.61%$0.998594
0.10%$0.999882
0.01%$83,826.00
-0.24%$0.00034755
-15.47%$1.00
-0.06%$0.00445088
-0.35%$0.02692332
2.37%$0.999425
0.01%$18.57
0.51%Reading
Bitcoin miners in China's Inner Mongolia will no longer be provided subsidized electricity to run their operations, according to WuBlockchain.
Northern China’s naturally cool climate, access to a cheap, able workforce, and government policies like subsidized electricity have historically supported the growth of mining businesses in the region. Bigwigs like AntPool, which make hundreds of millions in revenue each year, are situated in the region and are part of a mining cohort that contributes to China’s massive 60% share of Bitcoin’s total hash rate. But that might be about to change.
“China's Inner Mongolia suddenly issued a policy on (August) 24th, requiring the cancellation of preferential electricity prices for crypto mining,” said Colin Wu, a reporter in China focused on mining and industry regulations.
Exclusive: China's Inner Mongolia suddenly issued a policy on the 24th, requiring the cancellation of preferential electricity prices for the crypto mining, which will increase the overall electricity price by about 1/3. Miners are worried about Xinjiang will follow. pic.twitter.com/d2J8xG0DIJ
— Colin Wu（WuBlockchain） (@WuBlockchain) August 25, 2020
The move was prompted after authorities raised concerns about mining firms that hold licenses to receive subsidized electricity. The main issue was an overall lack of incentive for the local government and non-existent benefit to the broader Mongolian regions for supporting mining businesses.
“[Mining] has nothing to do with the real economy,” said a notice last year, the report stated.
Wu added that the move will see an increase in electricity prices for miners by over 33%, with miners reportedly worried that Xinjiang—a nearby mountainous region in Northwest China—will similarly follow.
Since falling to just $5,000 less than a year ago, the price of Bitcoin (BTC) has been on a meteoric uptrend, with the leading cryptocurrency seeing its value grow by more than 340% in the last year. At the same time, the Bitcoin hash rate has increased by more than 41% in the last year, recently reaching its highest ever value in January 2021. In May 2020, Bitcoin also completed its third halving event, which saw the amount of Bitcoin mined each day cut in half. With all these factors coincidi...
At least 21 mining businesses are affected, including some of the “largest players,” the report said. However, it added that “not all companies” operating in the region were affected, with no specific names disclosed.
Bitcoin mining—although attractive as a business with the lure of huge revenues—is a cutthroat venture with operators battling high setup costs and shaky government regulations to eke out profits.
And for mining hopefuls in Inner Mongolia, that narrative just got more difficult. An increase in electricity rates means a direct hit to profitability. But, for the rest of the world, the playing field is about to become much more even.
Update: We have clarified the source of the story.
The Babylon Foundation, an entity tied to the Bitcoin staking protocol Babylon, released tokenomic details for its BABY token Thursday—and revealed an airdrop for early users. The Foundation will provide 6% or 600 million BABY, the Babylon Genesis Network’s native governance token, to five reward groups and early supporters as part of its airdrop. The vast majority of tokens (585 million) set aside for the airdrop campaign will be provided to those who have staked Bitcoin with Babylon. “Tokens...
Paul Atkins, President Trump’s nominee to become the next Chair of the Securities and Exchange Commission, passed a key vote from the U.S. Senate Banking Committee on Thursday. Following the 13-11 vote, in which all Democrats on the Committee opposed Trump’s pick, Atkins’ nomination will now proceed to the Senate floor for a full vote. Atkins is an SEC veteran who previously served as an agency commissioner under President George W. Bush. He is widely expected to institute favorable policies for...
Monday marked the end of a painful quarter for Ethereum, as the network’s native asset’s so-called burn rate fizzled amid one of its worst performances in recent memory. The metric, which tracks the rate of Ethereum removed from circulation, recently hit its lowest level since August 2021, a nagging concern among investors that’s “weighed on Ethereum’s market performance,” according to the crypto market maker Wintermute. Last week, around 53 ETH was burned per day, the firm said. Meanwhile, ETH’...
