News Snapshot:
LONDON: China's share of global bitcoin production power fell sharply even before a recent crackdown by its authorities on cryptocurrency mining, research by the University of Cambridge showed on Thursday. China has long been the centre of global cryptocurrency mining, an energy-intensive process. Many bitcoin miners in China use fossil fuels including coal, stoking concerns over bitcoin's environmental footprint. The country's share of the power of computers connected to the global bitcoin network, known as "hash rate," fell to 46per cent in April this year from 75.5per cent in September 2019, according to the data from the Cambridge Centre for...
