Bitcoin mining operations

Paraguay Eyed as New Bitcoin Mining Destination

Paraguay is one of the destinations being considered by various companies for setting up their bitcoin mining operations. Last week, Chinese company Future Fintech announced formal plans to build a bitcoin mining facility in the country, explaining they were determining the best location for the upcoming farm. In June, local media declared that there were eight Chinese economic groups interested in coming to the country. Paraguay Considered for Its Bitcoin Mining Potential Paraguay, an often overlooked country of South America, has recently been in the sights of mining institutions interested

Paraguay Eyed as New Bitcoin Mining Destination

Paraguay is one of the destinations being considered by various companies for setting up their bitcoin mining operations. Last week, Chinese company Future Fintech announced formal plans to build a bitcoin mining facility in the country, explaining they were determining the best location for the upcoming farm. In June, local media declared that there were eight Chinese economic groups interested in coming to the country. Paraguay Considered for Its Bitcoin Mining Potential Paraguay, an often overlooked country of South America, has recently been in the sights of mining institutions interested

Chinese province to cut off Bitcoin miners from hydropower stations

Regulators from Yingjiang County in Yunnan, China have issued strict warnings to hydroelectric plants against supplying power to enterprises involved in Bitcoin (BTC) mining. A recent report claimed that the Office of the People’s Government of Yingjiang County issued notice to hydropower plants to strengthen oversight on Bitcoin mining operations. According to the announcement, the power plants have been given until Tuesday, Aug. 24, to delist mining companies from their grid’s “illegal” supply. After the given deadline, the county reportedly plans to “forcibly dismantle” the power supply to Bitcoin mining establishments

Coronavirus & Bitcoin Price: Is China Losing Its BTC Mining Monopoly?

This week the price of Bitcoin (BTC) surged more than 15%, reaching a high at $7,200 before pulling back into the $6,800 range. Despite the recovery, Bitcoin still has a way to go in order to reach the $8,000 level seen before the coronavirus-triggered selloff on March 12.Cryptocurrency market performance. Source: Coin360The drop had several consequences on the Bitcoin network. Having reached the $3,800 price range, the accentuated drop forced some Bitcoin miners to throw in the towel and shut down their operations due to mining becoming unprofitable.As miners have