China

The government in Iran is reportedly moving to authorize bitcoin mining but seems divided on the topic.

The power authority of Zhenjiang noticed an unusual spike in electricity consumption and abnormal line loss in some factories, and reported them to the local police.

Chinese bitcoin miners have made requests through official channels to Iranian government, asking if they can leverage the country’s cheap power.

Amid the bullish trend in the bitcoin market, bitcoin’s popularity seems to be on the rise particularly in Asian markets.

BabelFinance CEO says crypto winter and solid partnerships are helping his crypto-finance company succeed in the difficult Chinese market.

According to CoinShares’ latest biannual mining report, the vast majority of bitcoin mining power comes from renewable energy sources.

Although China has shut down bitcoin trading platforms, its attitude toward bitcoin mining is still ambiguous. Now, 70 percent of the world’s bitcoins are produced in China, especially along the Dadu River, where there is plenty of hydropower.

Chinese companies have jumped on the bandwagon of bitcoin mining, either under the guise of cloud computing or providing mining hosting services, in an effort to bypass regulations.

Nearly 100 victims from various parts of China have reported to the Hangzhou police bureau, claiming that two young men stole nearly 7,000 bitcoin.

The first Bitcoin OTC Teller Machine in Beijing was removed shortly after its installation, completing a test run but not signaling any lasting traction for mainstream bitcoin adoption in China.