December 9, 2022

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Chinese media report many China Bitcoin miners plan to relocate due to increased regulation

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A piece from China’s Global Times flagging moves of miners oiut of China into the US and Canada.

  • considering moving out of China after the regulators re-emphasize plans to outlaw bitcoin-related payment services,
  • Cao Yin, managing director of Digital Renaissance Foundation and a bitcoin investor, told the Global Times that as far as he knew, some bitcoin mines in China, particularly those that use thermal power, may move abroad to the US and Canada.

Here is the link to the GT piece for more. Keep in mind that GT is s state sponsored tabloid newspaper and should be read with that in mind. 

Meanwhile BTC retrace of weekend moves:

A piece from China's Global Times flagging moves of miners oiut of China into the US and Canada.

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