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26 July 2021

Shanghai Man: Crypto media closes, bad news just repeats, mining laws are beneficial?

Shanghai Man: Crypto media closes, bad news just repeats, mining laws are beneficial?


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The latest example was from the Anhui provincial government, as it announced a set of measures to reduce energy consumption, with cryptocurrency mining listed among the culprits.

On July 13, Chinese mining pool giant Bit Mining announced it had raised $50 million for expansion outside of China.

This is another sign that Chinese mining companies aren’t giving up in light of the restrictions at home, instead choosing to relocate the data centers and mining machines abroad.

One image that grabbed the attention of social media depicted a woman who appeared to be an ethnic minority holding a bundle of mining equipment and power cables like a flower bouquet.

On July 15, cryptocurrency media company Bishijie announced it was shutting down after violating national laws against cryptocurrency.

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