News Snapshot:
China's share of global bitcoin mining capacity plummeted to zero in July after authorities launched a fresh crackdown on cryptocurrencies. But several underground mining operations have since emerged in the country, with miners taking care to work around Beijing's ban. New research from the Cambridge Centre for Alternative Finance shows that Chinese bitcoin mining activity has quickly rebounded. Bitcoin miners aren't giving up in China despite Beijing's ban on the practice. China was once the world's biggest crypto mining hub, accounting for between 65% to 75% of the total "hash rate" — or processing power — of the bitcoin network....
