• China has declared cryptocurrency mining to be ‘obsolete.’

    China has declared cryptocurrency mining to be ‘obsolete.’0

    China’s top economic planning body has declared crypto mining “obsolete,” reiterating the government’s attempts to completely eliminate the industry. The designation was announced by the National Development and Reform Commission on Monday. That’s, as part of an update to a 2019 policy document that outlined how the country will transition its economy to one that

    READ MORE
  • Using his Tesla, a Tesla owner mined up to $800 a month in cryptocurrency

    Using his Tesla, a Tesla owner mined up to $800 a month in cryptocurrency0

    The Tesla user creates a blockchain network using a series of devices, and new coins enter circulation as a result of this procedure. This is not a simple task; building such a network is costly, and it requires a lot of electricity. Nowadays, mining is more linked with cryptocurrencies than it is with labor-intensive activities.

    READ MORE
  • As the ‘turbo-charged’ premise plays out, bitcoin mining stocks halve

    As the ‘turbo-charged’ premise plays out, bitcoin mining stocks halve0

    The share prices of the largest crypto mining companies have plummeted in lockstep with the price of bitcoin, which has gone from almost $70,000 to roughly $42,000 today. However, the drop in those mining stocks — which many believe are a type of turbo-charged proxy for bitcoin’s price — has been much more pronounced than

    READ MORE