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China Could Be Preparing To BAN Crypto Mining

Cryptocurrency and China have had a rough history and over the past two years, things haven’t gone as smoothly as you’d hope. The top economic entity in the nation has pushed forward some new rules that would see government close down all cryptocurrency mining facilities across the country. The act of crypto mining died down a few months ago, as the bear market meant it was essentially unprofitable to do so. Now, in China, crypto mining is one of the industries that has been put forward for immediate elimination, labelling crypto mining as a backward process and that they are...

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Bitmain Ditch Idea For Huge Potential IPO

The biggest worldwide designer of cryptocurrency mining chips have had plans for an ambitious public offering in Hong Kong for a while now but they have decided to put the plans on the backburner due to the price plunge of Bitcoin. In terms of price, the leading cryptocurrency is currently priced at $4,069 following a 2.90 percent increase over the past 24 hours. Furthermore, the market cap of Bitcoin is $71,678,007,507 at the current time of writing. Earlier this week, Bitmain Technologies said that it has allowed its IPO application to lapse, six months after it was initially filed in...

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How This BTC Mining Firm Could Spark Growth

There are many people out there that refer to Bitcoin as ‘digital gold’ and if it is such a thing, investors may be better off looking for a way to mine it instead of outrighting buying it. Traditional mining companies are great proxies for their underlying commodity. Oil drilling and lithium mining firms around the world have a simple but effective business strategy which is to deploy the cash to set up a mining infrastructure, hire miners, extract and ship. If the costs of mining fall and the market price of the commodity increases, this will result in the prices...

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People Are Investing In Bitcoin Mining Gear Again

A sudden decline in Bitcoin and cryptocurrency mining took place through 2018 for two key reasons. First of all, rising costs for energy and expensive mining equipment made the set up of mining operations far more costly than they used to be. Secondly and more importantly though, the decline in the value of Bitcoin set mining profits crashing. Because a single Bitcoin is worth far less than it used to be just one year ago, the action of mining went from a profitable one, to a financial drain and thus, people had to stop. The full scale of this decline...

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How Miners Blossom During A Bear Market

Even though this past year wasn’t a very positive one for the cryptocurrency space, the crypto miners and mining firms had an even worse time! Due to the prolonged bear market and the massive drop in prices, many miners are either facing the music and shutting down their shops or keep on fighting in the hope that mining would become profitable again. As written by the Daily Hodl, “It seems that the only profitable options are to place mining operations in an area with cheap electricity or resort to switching software and mining the most profitable option at the given...

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