In brief
Bitmain halts sales of crypto mining rigs after prices plummet from a flood of used machines hitting the market, the result of China's crackdown https://t.co/p6doVcmzPg via @crypto
— Bloomberg Crypto (@crypto) June 23, 2021
$92,776.00
-1.32%$1,755.59
-3.29%$2.17
-5.33%$597.73
-2.54%$148.66
-2.99%$0.999995
-0.00%$0.174177
-5.62%$0.695597
-2.30%$0.245443
-0.48%$1,753.62
-3.26%$92,662.00
-1.42%$3.03
2.70%$14.48
-4.85%$22.02
-3.80%$9.22
2.00%$0.269063
-1.87%$3.12
-0.78%$0.0000132
-3.87%$0.182224
-2.95%$2,104.70
-3.47%$1.00
0.00%$347.55
-3.69%$81.44
-4.13%$4.02
-3.23%$17.94
-5.71%$0.999679
-0.04%$4.41
-4.37%$1,754.41
-3.46%$0.99929
0.00%$0.649615
-3.37%$224.51
-2.19%$28.61
0.25%$1,869.57
-3.31%$92,780.00
-1.30%$0.00000856
-7.03%$5.76
-4.92%$5.31
-1.25%$51.16
-2.40%$2.45
-3.29%$334.44
-1.10%$23.11
-2.99%$0.88433
-6.65%$5.03
-3.78%$32.30
-1.81%$1.049
-0.03%$1.00
0.00%$0.096928
-0.28%$16.29
-4.34%$12.36
30.87%$0.089888
-2.49%$162.75
-3.14%$0.697411
-2.57%$4.39
-7.22%$0.02550242
-3.27%$0.249392
11.64%$1.17
0.20%$4.42
0.53%$0.343811
-2.84%$92,564.00
-1.37%$0.216375
-1.95%$4.23
0.03%$2.72
-1.73%$2.82
-1.74%$0.644758
1.81%$0.334899
0.48%$0.499808
-6.07%$0.998332
-0.01%$4.08
-1.93%$92,816.00
-1.33%$10.33
-0.42%$0.758311
-0.97%$0.439264
-5.25%$155.25
-2.90%$0.809057
0.29%$1,456.16
-4.63%$0.075253
-3.39%$0.0000145
-9.16%$0.865239
-1.63%$1.091
-7.68%$1.076
-0.16%$1,754.45
-3.39%$71.73
-0.46%$0.01648411
-1.85%$0.569712
-5.59%$1,826.78
-3.46%$3.66
-4.54%$0.193319
-2.13%$0.647828
-4.37%$9.49
-1.44%$0.68597
0.27%$1.00
0.04%$597.69
-2.58%$1.00
-0.04%$0.090203
-2.66%$0.999644
-0.04%$1,978.28
-3.34%$3,343.57
0.69%$1.00
-0.04%$14.08
-10.80%$91,489.00
-2.17%$3,354.07
0.89%$0.01615086
-6.24%$191.04
-3.10%$163.84
-3.22%$0.01676486
-3.07%$92,608.00
-1.54%$0.818465
-0.08%$0.194892
-0.84%$2.48
-6.75%$0.02152478
8.75%$0.291554
-3.78%$1,867.46
-3.22%$0.671684
-4.80%$0.997725
-0.01%$0.114142
-5.51%$3.68
-3.78%$0.00006789
-3.56%$0.652782
-2.88%$0.520564
1.56%$0.999263
0.01%$0.00000063
-1.29%$92,750.00
-1.77%$0.38794
-3.88%$1.95
-4.99%$30.15
-2.83%$1.093
-1.81%$0.310099
-1.68%$1.76
-4.56%$0.228916
-8.66%$1,835.74
-3.34%$0.536629
-1.47%$16.68
-3.78%$34.12
1.44%$3.32
-5.76%$0.147752
-4.58%$0.53119
-8.35%$0.00575498
-8.16%$0.052705
1.70%$0.519756
-7.63%$0.998213
-0.04%$0.068225
1.35%$0.631588
-2.63%$94,807.00
-0.20%$0.999992
-0.01%$0.440181
-2.91%$0.00838773
-3.55%$90,253.00
-0.70%$2.24
6.33%$0.505431
-10.46%$92,583.00
-1.51%$0.999992
0.00%$1.66
-2.22%$1.29
-1.54%$0.696132
-12.82%$1,831.98
-3.27%$0.173857
-5.69%$0.150985
1.86%$15.43
-1.82%$0.00002166
-2.88%$0.248117
11.21%$110.80
0.01%$92,478.00
-1.54%$5.98
-1.96%$0.00000042
-1.47%$1,753.90
-3.33%$6.31
-3.65%$0.510517
-1.26%$1.084
0.03%$0.508497
-1.35%$1.00
-0.56%$0.162408
-15.71%$2.48
-2.95%$0.077254
-2.73%$0.00625316
-12.10%$1,868.51
-3.27%$0.04064403
-2.43%$1,754.64
-3.30%$3.51
-5.83%$1,755.37
-3.22%$42.20
-3.73%$0.322437
-6.43%$1.00
0.00%$0.079935
-3.54%$1,754.71
-3.30%$0.00685484
-6.82%$21.65
-0.34%$0.999415
0.07%$0.174662
-2.76%$0.999469
-0.03%$0.00006302
-2.29%$0.548133
-4.51%$0.813965
-2.37%$0.0040043
-3.90%$0.343753
-10.30%$0.01723234
-1.00%$1.00
-0.04%$0.999631
-0.02%$1,790.49
-3.05%$0.03151584
-0.84%$0.118677
0.04%$0.326917
-2.64%$0.678255
0.17%$92,714.00
-1.29%$27.08
1.07%$0.703777
-2.57%$2.65
-4.40%$1.00
0.00%$0.236498
-2.74%$0.00000143
-10.53%$111.30
-3.17%$0.638406
-4.86%$1.16
-3.34%$0.00414775
-13.72%$92,427.00
-1.06%$1,735.93
-3.27%$3.49
-4.87%$3,330.59
4.50%$0.134548
-3.50%$0.999841
-0.03%$0.277918
1.06%$2.86
-2.44%$21.89
-3.07%$0.268592
-19.65%$1.10
5.86%$0.186746
-1.52%$1,856.64
-3.34%$0.516772
0.01%$0.110531
-2.99%$1,755.67
-3.20%$0.03665724
-1.33%$1,863.04
-1.32%$15.21
-2.66%$0.43837
-2.31%$0.01252795
-2.51%$0.247501
4.17%$21.99
-4.11%$0.02883828
-4.39%$0.93152
-4.89%$1.00
0.02%$0.704879
-5.30%$1.00
0.00%$1,923.48
-3.35%$2.20
-2.63%$92,223.00
-1.79%$0.00261035
-10.13%$1,907.25
-3.48%$1.095
-0.03%$0.266785
-2.59%Reading
Bitmain Technologies Ltd., one of the industry’s largest Bitcoin mining machine manufacturers, has suspended sales of Bitcoin mining machinery just days after China’s crackdown on the Bitcoin mining industry, per Bloomberg.
Bitmain said yesterday that it has paused selling new equipment following a 75% price drop on mining machinery. A confluence of different factors has reportedly led to this shift. Colin Wu, a crypto journalist in China, has reported that as miners shut down their machines, they are also selling those used machines second-hand, which is also impacting Bitmain’s sales.
Bitmain halts sales of crypto mining rigs after prices plummet from a flood of used machines hitting the market, the result of China's crackdown https://t.co/p6doVcmzPg via @crypto
— Bloomberg Crypto (@crypto) June 23, 2021
It is believed that postponing sales of mining equipment could help miners generate better sales for their machinery as they try to exit the industry.
This is the latest in a long line of blows to the Bitcoin mining industry—which has recently faced a giant challenge in China.
In the last week, China’s Bitcoin miners have been told to discontinue their operations.
On July 18, Sichuan energy companies were told to stop providing energy to the province’s miners, signaling a blow to the industry similar to what has already been seen in other parts of China, including Inner Mongolia, and Xinjiang.
Bitcoin mining demands an immense amount of energy, and governments and individuals alike are concerned about the industry’s impact on the environment. However, given that China controls approximately two-thirds of the entire world’s mining, the government’s crackdown represents the most immediate threat to Bitcoin’s miners today.
Bitcoin recently broke $60,000 for the first time, cementing its perch as the “big dog” of cryptocurrencies. It has been embraced by groups as disparate as politicians, NFL stars, and Tesla CEO Elon Musk. And the fact that cryptocurrency is entirely digital makes it sound, in theory, as though it would be the greenest currency the world has ever seen. After all, unlike paper money, no trees have to be cut down to create Bitcoin. But people and press have become increasingly concerned about whe...
In any case, the crackdown on mining is perhaps not surprising, given China’s commitment to carbon neutrality. And while China wrestles with the mining industry, there is a belief that other countries might stand to benefit.
Kazakhstan might be one of those countries after Chinese mining firm Bit Mining announced it had delivered its first batch of mining equipment to the country in reaction to China’s ban.
Bitcoin mining has also picked up steam in the United States—although the industry has not managed to escape controversy surrounding the environment. Elsewhere in China, the government has targeted crypto activities more broadly. The People’s Bank of China, the country’s central bank, told financial institutions to cease crypto activity.
Crypto infrastructure startup Theo has bagged $20 million to bring Wall Street-grade trading strategies to everyday investors. The funding round—led by Hack VC and Anthos Capital—drew backing from some of the biggest names in traditional finance, including Citadel, Jane Street, and JPMorgan, alongside crypto-native players like Mirana Ventures, Flowdesk, and Selini Capital. Theo’s team plans to use the newly raised funds to build institutional-grade trading infrastructure offerings for less tech...
Solana-based decentralized wireless network Helium is collaborating with AT&T to provide the telecom giant's subscribers with access to mobile hotspots. The collaboration will allow AT&T members to take advantage of expanded network coverage thanks to Helium’s community-operated network. Additionally, AT&T will be provided a set of “coverage quality metrics” developed by the decentralized network. “Working with AT&T is a massive step forward in our mission to bring affordable and accessible co...
Metaplanet Inc. has crossed a significant threshold in its Bitcoin accumulation strategy, hitting the halfway mark in its goal to hold 10,000 coins by the end of 2025. The Tokyo Exchange-listed investment firm announced Wednesday it had acquired an additional 145 BTC for approximately $13.6 million (¥1.926 billion) at an average price of $93,327 per coin (¥13,280,472). *Metaplanet Purchases Additional 145 $BTC, Total Holdings Reach 5,000 BTC* pic.twitter.com/rzZwvmmbw1 — Metaplanet Inc. (@Meta...