Crypton Mining Solutions News Today

Jerry Yu and his company, BitRush Inc., are the target of multiple lawsuits relating to contractor payments. These lawsuits have also revealed the existence of a $6 million dollar cryptocurrency mining farm, as documented by The New York Times.

The student’s story has become a case study in how Chinese nationals can move money from China to the United States without drawing the attention of authorities in either country.

Jerry Yu has the trappings of what the Chinese call second-generation rich. He boasts a Connecticut prep-school education. He lives in a Manhattan...

A rise in cryptocurrency mining facilities in Texas and other states has come under scrutiny for the industry's ties to Chinese investment.

The mine comprises of several dozen buildings designed to hold 6,000 specialized computers.

A legal dispute in a tiny Texas town unexpectedly reveals how Chinese nationals can move money to the U.S. without drawing the attention of authorities in either country.

Jerry Yu has the trappings of what the Chinese call second-generation rich. He boasts a Connecticut prep-school education. He lives in a Manhattan condominium bought for $8 million from Jeffrey R. Immelt, a former General Electric CEO. And he is the majority owner of a bitcoin mine in Texas, acquired last year for more than $6 million. Yu, a 23-year-old student at New York University, has also become — quite unintentionally — a case study in how Chinese nationals can move money fro...

Yu, a 23-year-old student at New York University, has also become - quite unintentionally - a case study in how Chinese nationals can move money from China to the United States without drawing the attention of authorities in either country. The Texas facility, a large computing center, was not purchased with dollars. Instead, it was bought with cryptocurrency, which offers anonymity, with the transaction routed through an offshore exchange, preventing anyone from knowing the origin of the financ...