News Snapshot:
The United States has overtaken China for the largest share of bitcoin mining in the world, data published Wednesday by Britain’s Cambridge Center for Alternative Finance showed. The figures demonstrate the impact of the crackdown on bitcoin trading and mining, initiated by China’s State Council or cabinet in late May, that ravaged the industry and caused miners to close up shop or relocate overseas. China’s share of the power of computers connected to the global bitcoin network, known as the “hash rate,” fell from 44 percent in May to zero in July, and up to 75 percent in 2019, the...
