News Snapshot:
The BTC mining comeback in China, according to CCAF, is due to a considerable amount of underground mining activity using off-grid electricity and scattered small-scale operations. BTC mining is accepted in china due to… China has emerged as a key mining hub, according to new Bitcoin (BTC) mining data from the Cambridge Centre for Alternative Finance (CCAF). This revival comes after the country prohibited BTC mining last year, citing BTC’s energy-intensive Proof-of-Work (PoW) consensus process. According to CCAF, China’s hashrate dropped to zero in July and August 2021 after the country banned BTC mining. China’s hashrate grew to 30.47 EH/s...
