JD.com’s founder Richard Liu announced last week that he’s stepping down as CEO. He joins other tech leaders, including Alibaba’s Jack Ma, who have recently left leadership roles. The departures coincide with a multi-pronged tech crackdown from Beijing. China’s top tech chiefs are stepping down from their leadership roles amid Beijing’s sweeping crackdown on the…
Chinese electric vehicle (EV) maker BYD has a semiconductor division named BYD Semiconductor, which had plans to go public on the Shenzen Stock Exchange. Originally filled for initial public offering (IPO), BYD Semiconductor wanted to start trading publicly as soon as possible, however, IPO efforts were stopped by the government crackdown on business. According to…
The Cambridge Centre for Alternative Finance (CCAF) today revealed that China’s dominance over global Bitcoin mining was slipping before most of the country’s provinces had even started to shut down mining operations earlier this year. CCAF said a major update to the Cambridge Bitcoin Electricity Consumption Index (CBECI) suggests “that China’s share of global hashrate…
China’s restrictions on cryptocurrency mining have continued to expand. CoinDesk today reported that authorities in the Anhui, Gansu, and Henan provinces ordered local mining operations to shut down due to the central government’s policies. The official motivations behind this crackdown are two-fold. The first is China’s hope to be carbon neutral within five years, and…
Compute North CEO Dave Perrill told The Block that Bitcoin’s hash rate—a measure of the computing power devoted to mining the cryptocurrency—might not recover from China’s move to shut down crypto mining operations until some time in 2022. “We may not see the hash rate go back to the all-time-high level until Q2/Q3 next year,”…
Bitcoin miners could be stuck with used rigs for a while. Bloomberg today reported that Bitmain indefinitely halted most of its sales after Chinese mining operations started dumping their equipment because they’re being forced to shut down. Bitmain makes cryptocurrency mining equipment based on application-specific integrated circuits (ASICs) designed specifically for that purpose. The company…