The Bitcoin Mining Backlash; Dogecoin’s Unhappy Inventor — The Information


Bitcoin miners in China were feeling the heat even before the country’s cryptocurrency crackdown. Data released Thursday from the Cambridge Bitcoin Electricity Consumption Index or CBECI show that these miners were fleeing China prior to new restrictions that Beijing put in place in May and June. 

The new stats help confirm what many have expected—that China’s position as bitcoin’s top miner is in jeopardy. The decline happened earlier than previously thought, indicating miners were wary enough of Beijing to already start shifting their operations overseas before serious restrictions were announced. 



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