On Jan. 10, as the situation normalized across Kazakhstan, unrest did not affect areas where official crypto mining companies operate, according to the Kazakhstan Association of Data Center Industry and Blockchain (NABCD), which said that the recent Bitcoin hashrate The short-term drop was due to internet terminals, while also claiming that the current situation’s impact on cryptocurrency prices was short-lived. NABCD Chairman Alan Dorjiyev said: "Currently, companies and association members are working as usual. As far as we are concerned, we are working hard to ensure corporate social responsibility and make a positive contribution to the lives of residents in the areas where the data center is located." Kazakhstan Data The Central Industry and Blockchain Association believes that Kazakhstan will remain one of the most attractive regions for developing cryptocurrency mining from a strategic point of view, and the agreement wants to ensure that there is a dialogue with the relevant institutions, which has previously led to the legalization of mining in Kazakhstan Entity-imposed power supply restrictions have also been lifted.
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"Musk", "Chinese Supervision" and "El Salvador" are probably the most important keywords affecting the trend of cryptocurrency in 2021, and they will affect the development pattern of cryptocurrency to varying degrees in different time periods. In 2021, cryptocurrency experienced the most alarming ups and downs since its birth: in terms of price, Bitcoin has reached a record high from 28,000 US dollars in early 2021 to 69,000 US dollars. During this period, Musk’s words and deeds had an important impact on the price fluctuations of cryptocurrencies; El Salvador announced that Bitcoin was a legal tender and became an experimental field for "fiat currency"; Coinbase was listed on the Nasdaq, and multiple Bitcoin futures ETFs were listed, etc. It has also become a testament to the increasing standardization and mainstreaming of the industry; from the perspective of global policy, since May, China has completely retired cryptocurrency trading platforms and "mining" actions, which has promoted the "large space transfer" of the crypto industry. , South Korea and other major cryptocurrency positions have become more stringent in supervision, and seeking compliance has become one of the main issues for cryptocurrency manufacturers in 2021. Cryptocurrency "mining": from the world's largest share to zero
2021 will become the most important turning point for China's cryptocurrency industry. Regulators have continuously issued documents to crack down on virtual currencies, sounding the clarion call for the complete withdrawal of the cryptocurrency industry from China. On May 18, 2021, the Internet Finance Association of China, the Bank of China (3.050, 0.00, 0.00%) Industry Association, and the China Payment and Clearing Association jointly issued an announcement on preventing virtual currency transaction hype to ensure the further implementation of the People’s Bank of China, etc. The five departments previously issued the "Notice on Preventing Bitcoin Risks" and "Announcement on Preventing Token Issuance Financing Risks" and other requirements. The three association announcements emphasized that the price of virtual currency has soared and plummeted, seriously infringing on the safety of the people's property and disrupting the normal economic and financial Order officially kicked off the prelude to the all-round crackdown on virtual currencies. Under the strict enforcement of multiple provisions and policies, various provinces and cities responded quickly. Inner Mongolia, Sichuan, Jiangsu, Hainan, Yunnan, Guizhou and Hebei have successively issued documents to combat virtual currency transactions and "mining" activities. As of October this year, China's virtual currency "mining" farms have been basically cleared. It only took less than two months for China's "mining" hash rate to go from the world's largest share to zero. As of the end of 2021, virtual currency trading platforms, virtual currency "mining" companies, virtual currency derivative financial companies, and virtual currency-related media have almost completely withdrawn from the stage of history in China. The Ninth City, Bit Mining and other listed companies that have transformed virtual currency "mining" have also completely moved abroad, and China has basically withdrawn from the development of the world's encryption industry. Zhu Youping believes: "In 2022, the combination of strict cryptocurrency supervision policies will not be relaxed, but will only be normalized. In the field of blockchain and cryptocurrency, China adopts the policy of'raising chain banning currency, keeping integrity and innovation'. Cryptocurrency is'full chain' Strict supervision does not mean that the blockchain industry will not develop. In fact, with the implementation of new concepts such as Metaverse, Web3, and DAO, the chain reform we advocate, that is, blockchain empowers the real economy, is still a grand narrative with massive Expansion capacity." From protected assets to "mining" contract invalidation At the judicial level, the verdict on virtual currency-related cases in 2021 has also undergone major changes. In December 2021, the Beijing Chaoyang District Court and the Dongcheng District Court successively declared the Bitcoin mining contract invalid, and even cryptocurrency-related telecommunications fraud is difficult to be filed. A number of suspected criminal violations related to virtual currencies have also become the focus of the industry. Events such as the arrest of Star Alliance involved in pyramid schemes have a profound impact on the industry. The consultant of Beijing DeHeng Law Firm analyzed to reporters: “On the whole, from the perspective of top-level design, the regulatory policies are becoming more and more stringent. In 2021, the central bank and other departments will intensively report to strengthen the strict control of virtual digital currencies, all revealing the country. The determination to combat the hype of virtual digital currency transactions, prevent systemic financial risks, and maintain financial security and stability." Begins with Dogecoin and ends with Metaverse In 2021, the virtual currency boom started with Dogecoin and ended with Meta universe. In the context of increasingly strict regulations, although the cryptocurrency industry seeking compliance has weakened, the development of cryptocurrency and blockchain-related fields has been active. Whether it is DeFi, NFT, to Gamefi or even Metaverse, they are full of the shadow of cryptocurrency. At the end of January 2021, GameStop (GME) staged a Wall Street Bets retail scene against Wall Street bears. It was originally a big show in the stock market. What's interesting is that "Dogecoin" unexpectedly made it onto the stage. On January 28th, Twitter user WSB Chairman (not the Twitter account of the real GME retail leader WSB) tweeted: "Have DOGE ever been to $1?" Maybe it just experienced the war on Wall Street and the enthusiasm has not retreated. , The enthusiasm of retail investors pushed Dogecoin up sharply. Since then, with the support of Elon Musk, the market value of Dogecoin has skyrocketed 1,000 times. Musk proposed that "Dogecoin was invented as a joke, essentially to make fun of cryptocurrency", "Bitcoin just gives power to the new rich", "Dogecoin is the future of currency" and so on. The remarks prompted Dogecoin to enter the top ten cryptocurrencies. According to the search index, Dogecoin took the lead in February 2021, Bitcoin hit an all-time high in May, and NFT became a hot star in August; Gamefi, represented by Axie, became popular in September, and since November, Meta Universe has become a well-deserved one. The king of traffic. Under the encryption boom, the highest coin theft event in the history of Defi also occurred in 2021. According to previous news, on the evening of August 10, Poly Network, a heterogeneous chain cross-chain interoperability protocol, was attacked by hackers. The stolen currency case with a total amount of more than 613 million U.S. dollars has become the largest currency loss case in the DeFi field, and it has also become the TOP3 currency theft case in the history of the encryption industry. Although the hackers eventually returned them in full, security in the DeFi field is still the focus of the industry. "In 2022, under the background of relatively complete market infrastructure and relatively diversified application ecology, the crypto industry may maintain a rapid growth trend, but this growth does not necessarily appear in the price of cryptocurrency." It is expected that NFT is expected to continue in 2022. Break the circle and obtain new opportunities outside the encryption industry; Metaverse and GameFi have faded, and the market has moved from hype to rationality; Bitcoin has been recognized by more countries and institutions, and its value attributes have been further released; the Ethereum ecosystem has continued to prosper, and the utilization rate has further increased; DAO is expected to usher in explosive growth; the global encryption regulatory framework is becoming increasingly clear, compliance will become a must for more encryption companies, and more listed encryption companies may also appear. As the sensational year of cryptocurrencies is coming to an end, some of the smallest cryptocurrencies have also ushered in brief moments of highlights.
According to Coinmarketcap data, Polkadot and Cardano became the two cryptocurrencies with the biggest gains on Monday, both rising by more than 6%, and then fell back. As of press time, Bitcoin has fallen by 0.97% to US$50,942.66 per coin; Ethereum has fallen by 0.72% to US$4062.67 per coin. Matt Maley, chief market strategist at Miller Tabak + Co, said: "There is no doubt that Bitcoin's dominance has weakened recently. I think this is simply because some investors are chasing the ‘newest thing’." The increasing attention of alternative currencies other than Bitcoin is not a new trend. With the expansion of the crypto economy, investors' attention has turned to other areas of the market. Many cryptocurrencies (except for a few large cryptocurrencies) have seen amazing rises this year. Dogecoin, Cardano, and Shiba Inu coins, once considered the most speculative cryptocurrencies, have become household names this year. Mati Greenspan, founder and CEO of Quantum Economics, said: "Bitcoin is making rapid progress in the global economy, but it is easy to see that some smaller, faster-growing cryptocurrencies are surpassing Bitcoin." This dynamic change has weakened Bitcoin's dominance. According to a report by CryptoCompare, the total assets under management of Bitcoin-related investment products fell by 20% to 39 billion U.S. dollars in December. In addition, data shows that the proportion of Bitcoin products in the total amount of digital asset investment tools has dropped from 70.6% to 67.8%, which is the lowest level this year. According to reports, Japanese financial giant SBI Holdings has launched the country's first cryptocurrency fund for individual retail investors. In addition to a wide range of securities and banking businesses, SBI also operates or partially owns many cryptocurrency exchanges and a cryptocurrency mining department. It is also one of Ripple's closest affiliates. According to reports, after the company experienced another bullish year in the crypto space, SBI fulfilled its promise to issue a Japanese crypto fund before the end of 2021. Investors need to pay approximately $44,100 to join the fund, which will consist of seven tokens, including XRP and Bitcoin (BTC) related to Ripple. The company seems to have concealed the names of the remaining five tokens, but these are considered the leading altcoins, and Ethereum (ETH) may also be among them.
On December 13th, Khaldoonal-Mubarak, CEO of Mubadala Investment Capital, the sovereign fund of Abu Dhabi, expressed his appreciation for cryptocurrency in a recent interview with CNBC. He claimed that the fund is investing funds into the crypto ecosystem and listed blockchain technology and energy as the areas of most interest: “From our perspective, I think we are looking at the crypto ecosystem and are Invest in this ecosystem. This may be in terms of blockchain technology, energy use, etc." It is reported that Mubadala Investment Capital manages US$243 billion in assets. The fund has been involved in cryptocurrencies as early as 2019, investing in MidChains, the UAE's first regulated cryptocurrency exchange. MidChains launched the trading of four cryptocurrencies (BTC, BCH, LTC and ETH) at the end of September.
Although some well-known investors invest their funds in digital currencies, the vast majority of financial managers are still hesitant to invest in cryptocurrencies. According to the market intelligence platform, many large companies are engaged in crypto transactions and see digital currencies as a worthwhile investment.
One of the most common issues considered by some potential crypto investors is security. As part of the digital realm, cryptocurrencies are vulnerable to hacker attacks. After constantly searching for solutions, KuCoin introduced trading passwords and other functions to the market to make the currency more secure and unique. Therefore, if you want to invest in KuCoins, you need to know the following things: 1. Kucoin definition Founded in 2017, KuCoin is a global cryptocurrency exchange that provides many trading opportunities for its millions of members. KuCoin promises to provide the highest level of security and approximately 400 cryptocurrencies. In addition, it has one of the most generous profit-sharing incentives, giving traders more reasons to invest in it. 2. KuCoin Token (KCS) Many popular exchange tokens, including KuCoin's local currency KCS, are rising in value. Since August 21, 2020, the price of the token has risen by more than 700%, attracting the attention of crypto and blockchain investors. KCS tokens have multiple uses and purposes. On the one hand, investors can use KuCoin for exclusive activities such as trading and sales. Tokens are also used as payment mechanisms in various applications, including games, retail, non-financial transactions, and even travel. The platforms that accept KCS include SwirlPay, PlayGame, Travala, Print-ted, PundiX and BetProtocol. 3. Advantages of Kucoin Exchange Like any other exchange, KuCoin allows its investors to purchase, trade, and securely store various cryptocurrencies through its Internet platform or mobile application. You can create an account with only an email address or phone number. Those accounts that have completed the verification process will receive additional services, as well as lower costs and opportunities for prizes. 4. KuCoin trading robot Trading robot is a function provided by KuCoin, which makes users' transactions easier. Users can specify specific transaction standards and let the robot do the rest after opening an account and depositing funds. Trading robots also analyze prices and forecasts by using market information, analysis and other techniques. It then applies this combination of knowledge and user preferences to place, buy, and sell orders as prices change. 5. Kucoin investment advantages This cryptocurrency exchange is ideal for professional traders looking for more currencies and complex functions. The combination of its "social" and "transaction" components will simplify crypto trading and help KuCoin become the most prominent social trading platform in the crypto market. 6. Benefits of investing in KuCoin Lowest cost There are no monthly account fees, and withdrawal fees are comparable to other exchanges. Depositing cryptocurrency is free, while depositing traditional currencies (such as U.S. dollars) is not. The price depends on how you send money and the third-party application you use. Wide coin KuCoin provides a more comprehensive range of cryptocurrencies than many other exchanges or brokerage companies. If you want to venture into more secondary and well-known currencies, it's worth a look. Unique features KuCoin provides many additional functions, but you should consider whether to use it. For example, margin trading enables you to take advantage of your position by borrowing money to obtain additional cryptocurrency. Extra security KuCoin added a trading password when the new platform was launched to improve the security of accounts and assets. Withdrawal, API verification, transactions (including spot, P2P fiat currency transactions, Kucoin futures transactions, and margin lending/transactions) all require transaction passwords. KuCoin is a popular trading platform. It ranked among the top cryptocurrency exchanges in August 2021. Its UI is easy for novices to master, and it rewards enthusiastic investors with continuous income. Investing in cryptocurrency may be risky, please invest carefully according to your personal circumstances. This article is only a personal opinion and does not constitute any investment and financial advice. At the same time as the popularization of blockchain, frauds against various virtual currencies are constantly "updated and iterated". Recently, the Xiamen city police released a fraud case of "pretending to be a virtual currency platform customer service", revealing the fraud methods and 5 obvious characteristics of the new scam.
Case: Mr. Huang, a citizen of Xiamen Citizen Mr. Huang usually invests in virtual currencies on platforms such as Huobi.com. Recently, he received an overseas call who claimed to be the customer service of Huobi platform. The other party not only obtained Mr. Huang’s trading account password and transferred Mr. Huang’s virtual currency worth 40,000 yuan, but also defrauded Mr. Huang’s 20,000 yuan on the grounds that “the account is abnormal and the funds need to be hedged.” According to Xiamen police analysis, the scam Mr. Huang encountered was a new scam pretending to be the customer service of a virtual currency platform. Similar to some scams pretending to be shopping websites, payment platforms, and bank customer service, victims frequently appear! This is an upgraded version of this type of scam in the field of virtual currency. Citizen Mr. Huang is not the only one who has been recruited. You must be vigilant! Relevant background: The exchange will clear domestic users at the end of the year In September this year, the People's Bank of China and other departments jointly issued relevant notices to implement supervision of virtual currencies. The major virtual currency trading platforms have successively stopped the registration of new users of the trading platform since September, and cleared and refunded the assets of users in mainland China. The deadline for clearing and refunding is the end of December. The new scam uses this information to deceive through the following steps. Fraud step analysis: 3 actions cost you 60,000 first step The scammer used overseas calls to impersonate the customer service or security department personnel of the virtual currency exchange, and accurately stated the victim's real name, transaction account number, etc., even specific to the transaction time and amount, in order to gain the trust of the victim. Second step The scammer asked the victim to download the designated software on the grounds of "transferring the virtual currency platform funds to the designated software for fund verification", and in the process turned on the "screen sharing" function of other software, so as to obtain the victim's newly downloaded designated software Registration information. third step After the victim transfers the funds to the designated software, the scammer uses the previously obtained account information to log in to the victim's software account and finally transfer the funds away. Please recognize the 5 characteristics of the new scam! According to Xiamen police analysis, this type of fraud generally has the following 5 characteristics: 1. Pretend to be the customer service of virtual currency trading platforms such as Huobi, Binance, Beitong, Ouyi, etc; 2. The fraudulent calls are irregular 00 overseas numbers and +852 Hong Kong numbers; 3. For existing users who are authenticated as Mainland China, the victims are mainly required to cooperate on the grounds that "the trading platform will be unavailable and the virtual currency needs to be cleared", "upgrade overseas accounts", "money laundering", and "illegal possession of black coins"; 4. The scammer guides the victim to download the designated App for video calls, screen sharing and other operations; 5. The scammer guides the victim to open a loan platform to make a transfer or defraud the victim's SMS verification code to transfer money. Xiamen City Police Remind The Xiamen police issued the following reminder, everyone must keep in mind: "Refund of users in Mainland China", it is fraud that guides the withdrawal of coins; It’s a scam to send you coins first, and then ask to withdraw coins to a "secure address"; Screen sharing, guide to eliminate account risks and withdraw coins is a scam; Sending an "airdrop link" to log in to your account on an unofficial website is a scam; Claiming to be a public security law, allowing you to withdraw coins to a "secure address" is also a scam. The logic of small market value cryptocurrency skyrocketing is becoming more and more magical. Recently, a cryptocurrency with the same name as the new crown virus strain "Omicron" was suddenly hyped, and the price increased by more than 9 times within a few days. After the outbreak of the "Omicron" strain, a variety of financial assets plummeted, and Bitcoin failed to escape the plummeting trend. However, this small market capitalization cryptocurrency of the same name suddenly soared for no reason, which shows that the cryptocurrency market is full of irrational hype. It is worth noting that on the 29th, this cryptocurrency suddenly crashed 76% within one hour, which can not help but recall the "tragedy" of the value of "Squid Coin" after it soared by 2,300 times. These cases remind us that no matter how attractive the increase is, investors must not forget the risks faced by cryptocurrency investment. The "Omicron" cryptocurrency of the same name skyrocketed by more than 9 times at one time On November 26, local time, the World Health Organization issued a statement that the new coronavirus mutant strain B.1.1.529 was listed as a mutant strain that "needs attention" and named it Omicron. On the 27th, a cryptocurrency of the same name named "Omicron" gained attention and rose rapidly. According to Coinmarketcap data, the price of the currency has been hovering at US$69.7 per coin before gaining attention, but yesterday, the price of this currency soared to US$711 per coin, an increase of over 9 times. But yesterday afternoon, the price of this cryptocurrency fluctuated sharply, from a flash crash of US$633 per coin to US$152 per coin within one hour, a drop of about 76%. As of 4 pm on the 30th, the price of this cryptocurrency was hovering around US$380 per coin. Born a few weeks ago
Earlier than the date the new strain was named Public information shows that Omicron is described as a "decentralized treasury-backed currency protocol" based on the expansion technology of Ethereum, Arbitrum, and it was launched a few weeks ago. Its birth predates the naming of the "Omi Keron" strain. This cryptocurrency can only be traded on the controversial decentralized exchange SushiSwap. Forbes commented that the decentralized nature of such exchanges means that there is no central agency responsible, and they are often subject to hacker attacks, exploits, and so-called carpet attacks, resulting in the theft of user funds. As of 5 a.m. Eastern time on November 29, the number of official Twitter followers of the Omicron cryptocurrency was only 1,079. Recently, the Twitter also reposted Forbes' news report on Omicron's skyrocketing. Bitcoin plummeted, but Omicron's small market capitalization skyrocketed The irrational phenomenon of the cryptocurrency market is obvious Recently, under the influence of the "Omi Keron" new crown virus strain, many types of assets have been sold off, and the cryptocurrency leader Bitcoin has also plummeted. On the 26th, Bitcoin plummeted by 8%, and then the price rebounded slightly. In response, Tally Greenberg, business development director of blockchain company Allnodes, commented in an email, “The cryptocurrency market has largely nothing to do with the traditional market. However, sometimes even cryptocurrencies follow world events. The new Covid The news of the -19 variant shocked the world, and our path to global recovery has added another uncertainty, which has led to a sharp decline in cryptocurrencies, large and small, plummeting stocks, and ties across all countries." While the cryptocurrency market fluctuated downwards, the Omicron cryptocurrency skyrocketed for no reason, which shows that the irrationality of the cryptocurrency market is very obvious. However, when all kinds of cryptocurrencies have fallen, there are still people who are optimistic about the cryptocurrency market. According to Forbes, Martha Reyes, head of research at the digital asset prime broker and exchange Bequant, said in an email comment: “The news of the emergence of a new Covid variant in South Africa has led to widespread selling across asset classes.” “If the blockade is true Happened, this is not our basic situation, it will lead to more helicopter money, and ultimately benefit the digital assets." "Omicron" is not the first cryptocurrency that has skyrocketed due to its popularity. At the beginning of November this year, a "Squid Coin" (SQUID) that exploded with the popular drama "Squid Game" also once soared. It is reported that this cryptocurrency started online trading on October 26. Soon after, its price soared by more than 2,300 times, reaching $2,861.80 per piece. However, on November 1, the price of the currency rose and fell back, falling to $0.0008 within a few minutes, and its value was almost zero. According to industry insiders, scams similar to squid coins are difficult to detect until they reach a certain scale. Since most blockchain networks are open source, exchanges lack control and influence over these projects, and it is difficult for regulatory authorities to supervise the listing of cryptocurrencies. How will Powell's re-election as chairman of the Federal Reserve affect cryptocurrencies?11/23/2021 US President Biden will re-nominate Fed Chairman Jerome Powell for another four-year chairmanship. This news gave Wall Street a sigh of relief. During the turbulent two years under the epidemic, the Federal Reserve's decision to cut interest rates and its measures to support the economy helped the United States avoid a long-term recession, and won Powell praise from professional and amateur investors.
Now, Powell faces new challenges: inflation is accelerating, supply chain disruptions are increasing, and some help needs to be reduced during the worst period of the epidemic. The main responsibility of the chairman of the Federal Reserve is to maintain price stability, guide decisions on when to raise or lower interest rates, and help as many people as possible find employment. Therefore, what the Fed does and Powell's re-election affects almost every aspect of Americans' daily financial lives, from their home purchase goals to retirement savings to the prices they pay for groceries. Keith Lerner, chief market strategist at Truist Consulting Services, said that Powell's re-election marks the continuation of loose monetary policy. He said: “This is good news for people who invest in retirement and 401(K) plans.” However, the chairman of the Federal Reserve is only one of many factors that affect the market and investment. He said: “There are also epidemic trends, economic trends, and Supply chain factors." What impact will Powell's re-election have on the crypto industry? In the past two years, the prices of high-risk investment assets such as cryptocurrencies have soared due to low interest rates, increasing consumer savings and US government stimulus measures. The price of Bitcoin has almost doubled since the beginning of the year. If Powell delays raising interest rates, investors may remain enthusiastic about such high-risk investments. There is also a view that cryptocurrencies can hedge against inflation. Proponents say Nowadays, many mining companies are betting on a reliable energy supply and a more predictable regulatory environment in the United States. According to data released by the University of Cambridge in the United Kingdom, more than one-third of the world's bitcoin mining hash rate comes from miners in the United States, compared with less than one-fifth in the spring of last year.
According to reports, bitcoin mining has become a lucrative business, and the current price of a bitcoin is about $60,000. In order to obtain new bitcoins, powerful computers compete to solve a series of mathematical problems, hoping to unlock new bitcoins. Many of these miners are online 24 hours a day. According to the design, the Bitcoin network only releases new cryptocurrencies every 10 minutes, and the number of Bitcoins released in the future will be reduced. This makes the competition to unlock Bitcoin an energy-intensive task, because the only way to increase the odds of winning is to get more miners online. Currently, Bit Digital, a NASDAQ-listed mining company, has added more than 20,000 miners to the miner team located in New York, Nebraska, Georgia, Texas, and Alberta, Canada. Due to continued shipping delays, some miners are still stranded in US ports. However, "mining" is not entirely risk-free in the United States. For the cryptocurrency industry, the United States has its own regulatory restrictions. Cryptocurrency companies have become the target of regulatory agencies, and the chairman of the US Securities and Exchange Commission Gensler has adopted a strict control approach to the cryptocurrency market. Gensler questioned whether many virtual currency issuers and exchanges ignored investor protection rules. In addition, because some old fossil fuel factories are back online, Bitcoin mining has also caused local people's concerns about climate pollution. The New York State Legislature is considering introducing a bill that prohibits the use of fossil fuels for Bitcoin mining and calls on mining companies to record their carbon footprints. The US Securities and Exchange Commission is also considering measures to require listed companies to disclose climate data. However, cryptocurrency companies said that the setting of the legal system in the United States ensures that the law takes longer than other countries to implement law, thereby allowing Bitcoin mining companies to adapt to and weigh potential policy changes. In addition, cryptocurrency companies also believe that the United States has recently approved several US exchange-traded funds (ETFs) holding bitcoin futures, which also shows that the United States is unlikely to suppress or drastically cut bitcoin mining. Compass Mining CEO Whit Gibbs called this "a positive signal of trust from regulators... I hope this is a signal that they will support Bitcoin mining." Texas, the US, is a popular destination for Bitcoin mining companies with nowhere to stay because of the low electricity prices in the state and the generally reliable power supply (despite a power outage that lasted for several days last winter), which is crucially important for Bitcoin mining. The friendly stance of the state government also attracted mining companies. The state's banking regulatory agency said it will allow lending institutions to hold digital assets on behalf of customers. At the same time, Miami is also striving to move cryptocurrency mining companies to Florida, saying that energy prices in the state are low and a nearby nuclear power plant can provide reliable renewable energy. However, mining companies need to be housed in data centers, and the high real estate prices in the state make other markets more attractive. |
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