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Bitcoin Price Dips Just Above $42,000 As Exchange Inflows Continues To Surge

Bitcoin price fell to a 3-month low earlier today retracing to $42,000 level which many believe was caused by Elon Musk’s recent Twitter meltdown, however, ....

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Tesla Still Holds Its Bitcoin, Musk Says While BTC Drops Below $43,000

Tesla Inc (NASDAQ:TSLA) CEO Elon Musk has said that t. ....

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China Set to Regulate Bitcoin Mining over Effects on Carbon Footprint

China Set to Regulate Bitcoin Mining over Effects on Carbon Footprint
Last Updated: 30 April 2021
China may be making plans towards increasing regulations in crypto mining. This comes after concerns about the effects of Bitcoin mining on the carbon footprint.
China’s crypto miners may be looking towards strict supervision when mining in the future. This comes after the government is allegedly concerned over the high amounts of energy consumed during Bitcoin mining.
On April 27, Beijing made an announcement in which it issued a directive for investigation on data centers that are involved in Bitcoin mining and other crypto mining activities. This announcement caused uncertainly in China. ....

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Decline In Bitcoin Hashrate Causes Miners To Earn $16.7 million In 24 Hours

Decline In Bitcoin Hashrate Causes Miners To Earn $16.7 million In 24 Hours
Reading Time: 3min read
On April 15, a widespread power outage in North China led to a sharp decline in the Bitcoin hash rate. Because major mining farms are located in China, there was a 20% corresponding decline in hash rate.
The China Hash Rate Crash Of 2021
As a result of the decline in hash rate, backlog in transaction processing quickly surged, causing a mounting transaction fee. With the high mining fee, Bitcoin miners have earned nearly $16.7 million in just 24 hours.
Wu Blockchain noted in a tweet earlier today:
“Bitcoin miners’ fees have increased significantly. The fees paid to Bitcoin miners in a single day amounts to $16.76303mln. The core reason is that the power outage and inspection in Northwest China has reduced the 20% hashrate, resulting in a backlog of transactions.” ....

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Chinese mining pools' hash power plummets amid regional blackouts

Chinese mining poolsâ hash power plummets amid regional blackouts
Blackouts for safety inspections in Chinaâs Xinjiang region have significantly impacted the hash rate of many top Chinese Bitcoin mining pools.
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The hashing power of top Bitcoin mining pools located in Northwest China appears to have plummeted due to a regional blackout to enable safety inspections.
The news was reported by Wu Blockchain, the author of Chinese crypto newsletter Wublock, who noted significant drops in the hash rate of several major pools â with Antpool crashing 24.5%, Binance Pool dipping 20%, BTC.com falling 18.9% and Poolin dropping by 33%.
The hashrate of Bitcoin mining pools plummeted in 24 hours. Antpools fell by 24.5%, https://t.co/1YRYr58dLy fell by 18.9%, Poolin fell by 33%, Binance pools fell by 20%. The reason is that Northwest China is undergoing a complete blackout for safety inspections. pic.twitter.com/vaWgYsMEFH Wu ....

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