• About
  • FAQ
  • Landing Page
  • Buy JNews
Newsletter
Crypto News
Advertisement
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • Business
  • Guide
  • Contact Us
No Result
View All Result
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • Business
  • Guide
  • Contact Us
No Result
View All Result
Crypto News
No Result
View All Result

China’s Coal Standoff Causes Power Shortages, Chinese Bitcoin Miners ‘Heavily Affected’

by
December 28, 2020
in Uncategorized
0
China’s Coal Standoff Causes Power Shortages, Chinese Bitcoin Miners ‘Heavily Affected’
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

China's Coal Standoff Causes Power Shortages, Chinese Bitcoin Miners 'Heavily Affected'

Regional reports from China detail that bitcoin miners located in certain areas in South China are running short on electricity. The country has been having massive issues with coal prices soaring across the mainland, as the Chinese government hasn’t been allowing coal carriers into ports. Because of the sweeping electrical shortages, mining activities have been threatened by emergency power rationing measures.

Related articles

Biden Administration Reported to Be Lining up a Former Ripple Advisor as the Next Bank Regulator

Biden Administration Reported to Be Lining up a Former Ripple Advisor as the Next Bank Regulator

January 22, 2021
Altcoin Expert: Buy Crypto That Holds Up During Bitcoin Breakdown

Altcoin Expert: Buy Crypto That Holds Up During Bitcoin Breakdown

January 22, 2021

This week, while bitcoin (BTC) prices touched all-time highs and the overall network hashrate has been soaring, reports detail that Chinese miners have had issues with electrical shortages. Financial columnist for 8btc.com, Lylian Teng, detailed that while miners are dealing with mining rig and component shortages, electricity is also lacking in some parts of China as well.

Teng’s report details that the reason for the electricity issues is due to the Chinese government’s standoff with the world’s biggest coal countries. Sailors from coal carriers have been stranded for months on end and Teng said “provinces in South China have implemented emergency power rationing measures.”

“Under such circumstances, power-hungry bitcoin mining activities are the most heavily affected,” Teng explained. “In addition to the trade frictions between China and Australia, it is said that due to the extremely cold weather in Russia this year, Russia has cut off the electricity transmission to China, and the regions that use Russian electricity are concentrated in south China, which will only exacerbate pressure on the power supply in China.”

Bitcoin (BTC) recently touched a high of $28,378 per unit on December 27, 2020, but has dropped some after the recent high. On Sunday, the overall hashrate has been riding high between 130 to 145 exahash per second (EH/s). On Sunday afternoon, the network difficulty was hovering at around 18.67T (18,670,168,558,399) but also changed today hitting just a tad lower at 18.65T.

With 18 mining operations dedicating processing power to the BTC network, a lion’s share of the top miners in terms of exahash per second, stem from China. F2pool commands the most hashrate with 19.7% of the distribution or 25.9EH/s. This is followed by Binance Pool (16.15 EH/s), Antpool (13.11 EH/s), Viabtc (12.80 EH/s), and Btc.com (11.89 EH/s).

Despite recent reports that China was losing its share of BTC processing power, Cambridge Bitcoin Electricity Consumption Index (CBECI) map shows China still commands 65% of the hashrate today. While some small miners may be suffering from electrical shortages, the overall SHA256 hashrate worldwide is still humming away at higher than average speeds.

What do you think about Chinese miners facing issues with electrical shortages in South China? Let us know what you think about this subject in the comments section below.

The post China’s Coal Standoff Causes Power Shortages, Chinese Bitcoin Miners ‘Heavily Affected’ appeared first on Bitcoin News.

Share76Tweet47

Related Posts

Biden Administration Reported to Be Lining up a Former Ripple Advisor as the Next Bank Regulator

Biden Administration Reported to Be Lining up a Former Ripple Advisor as the Next Bank Regulator

by
January 22, 2021
0

Micheal Barr, the former member of Ripple’s board of advisors, is set to become the United States’ next banking regulator,...

Altcoin Expert: Buy Crypto That Holds Up During Bitcoin Breakdown

Altcoin Expert: Buy Crypto That Holds Up During Bitcoin Breakdown

by
January 22, 2021
0

Bitcoin has plummeted by more than $11,000 from its recent FOMO-driven peak. Normally, the bearish momentum in the top cryptocurrency...

Treasury Secretary nominee says crypto has potential to improve the financial system

Treasury Secretary nominee says crypto has potential to improve the financial system

by
January 22, 2021
0

Janet Yellen added that she planned to encourage the use of digital assets for “legitimate activities.” U.S. President Joe Biden's...

Leading Crypto Derivatives Exchange Bit.com Set to Launch Bitcoin Cash Options

Leading Crypto Derivatives Exchange Bit.com Set to Launch Bitcoin Cash Options

by
January 21, 2021
0

On January 21, the derivatives exchange by Matrixport, Bit.com, announced the launch of the first bitcoin cash perpetual swaps and...

Ethereum Maintains Bullish Market Structure Despite Selloff; Rebound Imminent?

Ethereum Maintains Bullish Market Structure Despite Selloff; Rebound Imminent?

by
January 21, 2021
0

Ethereum has seen an intense selloff ever since its price reached highs of $1,450 just a few days ago The...

Load More
  • Trending
  • Comments
  • Latest
Privacy Coins Monero, Dash, and Zcash to be Delisted on Bittrex, Dash Unhappy with Decision

Privacy Coins Monero, Dash, and Zcash to be Delisted on Bittrex, Dash Unhappy with Decision

January 4, 2021
SushiSwap’s SUSHI Surges 20% Again After Ethereum Price Correction

SushiSwap’s SUSHI Surges 20% Again After Ethereum Price Correction

December 6, 2020

New Mining Centers Increase North American Market

December 6, 2020

Services Could Help Investors Rate Crypto Currencies

December 6, 2020
Biden Administration Reported to Be Lining up a Former Ripple Advisor as the Next Bank Regulator

Biden Administration Reported to Be Lining up a Former Ripple Advisor as the Next Bank Regulator

0

China Is Reportedly Moving To Clamp Down On Bitcoin Miners

0

Inside the Chinese Bitcoin Mine That’s Grossing $1.5M a Month

0

All You Need to Know About This Whole SegWit vs. SegWit2x Thing

0
Biden Administration Reported to Be Lining up a Former Ripple Advisor as the Next Bank Regulator

Biden Administration Reported to Be Lining up a Former Ripple Advisor as the Next Bank Regulator

January 22, 2021
Altcoin Expert: Buy Crypto That Holds Up During Bitcoin Breakdown

Altcoin Expert: Buy Crypto That Holds Up During Bitcoin Breakdown

January 22, 2021
Treasury Secretary nominee says crypto has potential to improve the financial system

Treasury Secretary nominee says crypto has potential to improve the financial system

January 22, 2021
Leading Crypto Derivatives Exchange Bit.com Set to Launch Bitcoin Cash Options

Leading Crypto Derivatives Exchange Bit.com Set to Launch Bitcoin Cash Options

January 21, 2021
Crypto News

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Categories tes

  • Abra
  • Altcoin News
  • altcoins
  • Altseason
  • Binance
  • Binance (BNB) News
  • Binance Coin (BNB)
  • Binance Ecosystem
  • Binance Smart Chain
  • bitcoin
  • Bitcoin
  • Bitcoin (BTC) Adoption
  • Bitcoin (BTC) General News
  • Bitcoin (BTC) News
  • Bitcoin (BTC) Predictions
  • Bitcoin Cash (BCH)
  • Bitcoin Cash (BCH) General News
  • Bitcoin dominance
  • bitcoin network
  • Bitcoin price
  • Bitstamp
  • Bittrex
  • Blockchain
  • Blockchain News
  • bloomberg
  • Brad Garlinghouse
  • Business
  • Cameron Winklevoss
  • ChainLink
  • ChainLink (LINK)
  • Chainlink (LINK) News
  • Chainlink Price Prediction
  • Changpeng Zhao
  • charlie lee
  • CME Ethereum Futures
  • CME Group
  • coinbase
  • Coinmarketcap
  • cryptocurrency
  • Dash (DASH)
  • DeFi
  • DeFi Pulse
  • Deribit
  • Electric Coin Company
  • ETH 2.0
  • ETH2.0
  • Ethereum
  • Ethereum (ETH)
  • Ethereum (ETH) News
  • Ethereum 2.0
  • Ethereum Classic (ETC)
  • Ethereum Futures
  • Ethereum Network
  • ethereum price
  • Ethereum price analysis
  • Ethereum Staking
  • Ethereum Upgrade
  • Ethereum Upgrades
  • Flare Networks
  • Flare Networks Snapshot
  • Gemini
  • google
  • Grayscale
  • Grayscale Bitcoin Trust (GBTC)
  • Guide
  • Guides
  • Institutional Investors
  • justin sun
  • JustSwap
  • LINK Marines
  • Litecoin
  • Litecoin (LTC)
  • Litecoin (LTC) News
  • Litecoin Development
  • litecoin foundation
  • Litecoin MimbleWimble
  • Market
  • MicroStrategy
  • MimbleWimble
  • Mining
  • Monero (XMR)
  • News
  • NFT
  • NFTs
  • Non-Fungible Tokens
  • Other
  • Pantera Capital
  • Poloniex
  • Prices
  • Regulation
  • ripple
  • Ripple
  • Scams and Hacks
  • sec
  • Securities and Exchange Commission
  • Spark Token (FLR)
  • Spark Token Airdrop
  • Spark Tokens (FLR)
  • Tether (USDT)
  • Tron (TRX)
  • TRON (TRX) News
  • Tron Foundation
  • Twitter
  • Tyler Winklevoss
  • Wallets and Exchanges
  • XRP
  • XRP News
  • XRP Price Prediction
  • Yearn Finance (YFI)
  • Zcash (ZEC)
  • ZCash Halving
  • Zeus Capital
  • Zilliqa (ZIL)
  • Zilliqa (ZIL) News
  • Zilliqa Staking

Tags

Altcoin Bitcoin drops Bitcoin Wallet Cointelegraph Cryptocurrency ICO Investment Lending Market Stories Mining Bitcoin

Newsletter

[mc4wp_form]

  • About
  • FAQ
  • Support Forum
  • Landing Page
  • Buy JNews
  • Contact Us

© 2017 JNews - Crafted with love by Jegtheme.

No Result
View All Result
  • Contact Us
  • Homepages
  • Business
  • Guide

© 2018 JNews by Jegtheme.