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The Great Bitcoin Mining Migration

Beijing told China's cryptocurrency miners that they have to go. The People's Republic's recent crypto ban is not surprising considering the decentral nature of crypto. Qinhai and Xinjiang are two more provinces that add...

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Older archive item. Useful for background and entity history, but not a fresh market-moving signal.

The Great Bitcoin Mining Migration

Beijing told China's cryptocurrency miners that they have to go. The People's Republic's recent crypto ban is not surprising considering the decentral nature of crypto.

Qinhai and Xinjiang are two more provinces that added bitcoin mining to their hit list. 

This follows an especially harrowing announcement on May 21 by Liu He at the 51st meeting of the State Council on Financial Stability and Development Committee. This reads like it's straight of a George Orwell novel. The document states:

Chinese Vice Premier Liu He attends the 2018 World Artificial Intelligence Conference (WAIC) "It ...

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Why this matters

This mining story adds another data point to the current market tape and is useful when read alongside nearby source coverage.

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