$96,200.00
1.18%$1,794.31
0.35%$2.11
-1.22%$599.91
-0.27%$145.95
0.73%$0.999985
-0.00%$0.17051
0.89%$0.660218
-0.56%$0.247615
0.88%$1,792.89
0.36%$96,177.00
1.16%$3.25
0.08%$13.56
-0.28%$19.19
-3.25%$8.69
-0.27%$0.258276
0.20%$0.999987
0.01%$2,158.59
0.58%$0.00001267
0.56%$2.99
-1.30%$0.174034
-0.43%$356.34
-1.43%$20.92
1.16%$87.53
3.83%$3.90
-1.27%$1.003
0.23%$280.79
-1.64%$1,794.33
0.28%$4.22
-1.03%$1.001
0.11%$96,230.00
1.18%$28.56
1.05%$0.579144
0.14%$1,918.46
0.59%$0.00000818
3.54%$359.33
-2.18%$50.62
-0.20%$4.72
-0.36%$1.00
0.00%$4.79
-2.22%$1.051
0.02%$2.24
-3.03%$0.855928
0.30%$0.090516
4.25%$21.03
-0.45%$168.63
-2.42%$15.94
0.19%$4.52
-1.74%$0.707571
-0.32%$29.74
0.24%$0.090467
-0.95%$10.76
-1.01%$4.11
-3.39%$1.002
0.16%$0.02441518
-0.46%$1.17
-0.00%$96,134.00
1.34%$0.21624
0.97%$4.33
0.79%$4.12
1.36%$0.663576
0.07%$2.55
-0.89%$0.195871
-0.31%$0.501331
-0.51%$0.997861
0.01%$0.264123
-0.24%$4.09
0.46%$2.39
0.18%$0.302184
-0.90%$10.74
-0.19%$96,125.00
1.23%$0.848709
10.66%$88.74
3.75%$0.00001647
-1.16%$0.916887
2.20%$0.01913402
2.82%$1.23
-0.63%$1,468.98
-0.46%$0.417952
0.21%$153.18
0.73%$0.778044
13.39%$0.072252
1.55%$1,797.01
0.40%$1,876.39
0.77%$1.001
0.11%$3.77
6.51%$0.197344
0.50%$0.596728
-2.35%$0.962348
-10.69%$0.526178
-0.24%$9.33
0.94%$1.002
0.20%$0.654875
-0.07%$1.34
-9.22%$0.999788
-0.02%$0.089376
0.89%$2,039.71
0.69%$3,375.92
-1.32%$14.38
-5.00%$3,380.13
-1.27%$1.00
0.02%$0.205141
4.97%$600.43
-0.19%$96,147.00
1.23%$188.13
0.58%$161.28
0.56%$95,969.00
2.37%$0.01527862
2.04%$95,508.00
0.30%$0.00007489
-0.37%$35.81
-0.18%$0.704672
-2.39%$0.705839
2.28%$2.40
1.59%$0.0000007
0.52%$0.76164
-0.19%$1,909.69
0.13%$3.72
0.55%$0.01067653
-4.15%$0.534285
-2.90%$0.01496001
0.11%$0.268943
0.33%$0.998025
-0.05%$2.01
1.40%$0.108203
-0.46%$39.41
8.56%$0.998822
0.00%$1.10
0.80%$17.47
1.12%$0.364068
-0.58%$1,881.77
0.57%$0.01660469
4.34%$0.531297
1.06%$0.291718
1.38%$0.544239
0.08%$1.60
1.49%$0.051678
3.94%$3.15
-0.29%$0.997963
-0.07%$110.95
0.01%$95,919.00
-0.00%$0.602025
3.27%$96,277.00
1.43%$1,879.13
0.53%$1.00
0.04%$0.132818
-0.61%$0.00517864
-3.82%$0.065703
-2.87%$0.999991
0.01%$0.00815604
-1.02%$0.429602
-2.56%$95,932.00
1.04%$0.483076
-3.19%$0.377505
-4.03%$6.74
0.22%$0.170581
0.92%$94,005.00
1.32%$1.23
0.52%$0.553684
-0.20%$15.13
0.19%$0.421954
8.35%$1,793.48
0.23%$0.00000042
0.61%$0.00002075
0.39%$1.085
-0.00%$0.999438
-0.02%$1.47
-1.98%$1.61
8.49%$0.158345
-8.51%$0.151091
-1.25%$0.126956
-1.62%$0.157484
-6.31%$5.55
4.82%$1,908.15
0.13%$0.480132
0.44%$1,792.59
0.21%$0.00715731
1.31%$1,872.40
3.90%$2.31
0.66%$1,796.85
0.43%$1,791.29
0.33%$0.03851059
-0.31%$0.0052888
-3.96%$0.071632
-0.66%$1.001
-0.03%$0.216223
0.73%$32.10
0.47%$0.076862
0.88%$21.38
-0.62%$0.362003
-8.81%$2.88
0.60%$38.18
0.40%$0.01773283
1.68%$0.360317
5.98%$0.170095
0.61%$0.03410468
-0.24%$0.00397251
-0.39%$1.24
-6.85%$1.52
-10.67%$0.999757
-0.10%$0.760457
0.16%$0.999196
-0.09%$0.00005816
-0.24%$1.00
0.06%$1.00
0.02%$1.29
39.55%$0.487039
0.29%$96,123.00
1.14%$0.00000075
21.51%$0.660737
1.43%$20.83
0.28%$0.00000145
-2.80%$0.292058
-2.62%$0.640308
-0.68%$1,783.84
-0.18%$95,931.00
1.47%$3,370.70
-0.54%$1.00
0.05%$107.97
0.37%$0.249325
-1.71%$0.00273688
4.17%$2.40
-0.74%$0.216073
-0.71%$0.03132457
5.50%$1.099
0.13%$19.18
-3.40%$0.451396
-2.88%$21.27
1.37%$1,906.49
1.07%$0.186228
-0.13%$0.514344
0.33%$0.124097
-5.39%$2.68
-3.92%$0.251323
1.04%$1,933.44
1.24%$3.03
0.15%$1.53
2.38%$1,972.75
0.58%$0.999872
0.04%$95,748.00
1.06%$0.03477988
-0.09%$14.45
0.47%$1,956.98
0.42%$0.999075
-1.82%$1.13
-0.46%$0.00263605
3.08%$0.01188231
0.97%$1,793.83
0.30%Reading
Anhui is the sixth province in China to “clean up” Bitcoin mining, according to local reports.
Similar language was used last month when Ya’an, a major city in the Sichuan province, also banned Bitcoin mining. Anhui has, however, cited power shortages as the key factor behind the latest prohibition.
Cryptocurrency mining refers to the energy-intensive process through which specialized computers earn crypto for verifying transactions on a blockchain network.
Iran also banned Bitcoin mining in May as the country battled rolling summer blackouts accentuated by power shortages. This ban will be lifted in September. The same cannot be said for the crackdown in Anhui, however.
This ban in Anhui will likely be permanent, given a sweeping government announcement made in May. At that time, China’s State Council included Bitcoin mining among a laundry list of financial risks that it intended to monitor closely. The mandate sparked a string of mining bans in many other provinces, including Inner Mongolia, Xinjiang, Qinghai, Yunnan, and the city of Ya’an in Sichuan.
Many of the provinces had long been hotspots for Bitcoin mining due to their abundance of energy, be it hydroelectric or fossil-fueled.
There is a slight difference between the Anhui ban and those of the five other provinces.
Reports of the initial bans revolved around maintaining China’s image as an environmentally friendly country. Bitcoin mining, notorious for its large carbon footprint— specifically in coal-rich provinces like Inner Mongolia—clashes with this image.
For hundreds of years preceding the early 20th century, China’s emperors banned international trade and cloistered the country from the rest of the world. The so-called “closed-door” policy (闭关锁国) was partly a response to the Opium Wars with the British, who had been ruthlessly peddling the drug throughout the previous century and had addicted as many as 12 million people in the country. Though crypto is hardly as addictive as opium, the current regime in China appears to be treating it with...
Instead, Anhui is cracking down on the activity due to power shortages. This reason was far less prominent in the previous bans in other provinces.
What’s more, the Anhui ban appears to be brought about by a notice from the State Grid Corporation of China, according to Chinese journalist Colin Wu. The State Grid is China’s national electricity provider, and one of the largest in the world at that.
The State Grid Corporation of China has issued a notice to all parts of the country requesting the closure of virtual currency mining. At present, some provinces with insufficient power in China, such as Henan and Anhui, have also begun to implement it. pic.twitter.com/kgDY1msDQ5
— Wu Blockchain (@WuBlockchain) July 14, 2021
According to Wu, the State Grid has joined the State Council in “requesting the closure of virtual currency mining” throughout the country.
He added that after Anhui, the provinces of Henan and Gansu will also be banning mining.
Billionaire investor Tim Draper argued that businesses who have yet to purchase Bitcoin for their corporate treasuries are “being irresponsible.” Speaking at the Financial Times Digital Assets Summit, the prominent Bitcoin bull argued that “everybody ought to have some Bitcoin,” noting that “governments are recognizing that Bitcoin should be in their treasury.” Draper, who remains “optimistic” that Bitcoin will hit $250,000 by the end of 2025, added that he hopes to have a fund “in the next five...
Ethereum layer-2 startup Movement Labs has cut ties with co-founder Rushi Manche, capping a turbulent week of governance scandals, market maker fallout, and mounting community pressure. “Movement Labs has terminated Rushi Manche. Movement will continue under different leadership,” the team posted early Wednesday on X. Within minutes, the platform announced the launch of Move Industries, a new company rising from the wreckage of the project. The new team described the shift as a return to “crypt...
Japan’s Metaplanet Inc. added another 555 Bitcoin to its treasury late Tuesday, just as China confirmed it would resume trade talks with the U.S., while laying out firm conditions for engagement and warning against “coercive and blackmailing tactics.” The Tokyo-listed firm disclosed it spent $49.6 million (¥7.67 billion) on the latest acquisition, bringing its total Bitcoin holdings to 5,555 BTC, worth over $482 million at current prices. The purchase is part of Metaplanet’s broader strategy t...
