{"id":468556,"date":"2021-08-03T04:17:01","date_gmt":"2021-08-03T04:17:01","guid":{"rendered":"https:\/\/uniquehot.com\/?p=468556"},"modified":"2024-06-11T10:37:35","modified_gmt":"2024-06-11T10:37:35","slug":"the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\/","title":{"rendered":"\u201cThe Death Of China’s Bitcoin Mining Industry,” 7 Takeaways From The Article"},"content":{"rendered":"

Did China make the mistake of a lifetime by banning Bitcoin mining or do they have a secret plan? That\u2019s the question the whole Bitcoin ecosystem is struggling to answer. And today, we got another piece of the puzzle. In the article titled \u201c<\/span>It’s Over, It’s All Over” – The Death Of China’s Bitcoin Mining Industry<\/span><\/a>,\u201d a pseudonymous manager by the name of Ye Lang tells his story. And in his tale, a bigger story is reflected.<\/span><\/p>\n

Related Reading | Bitcoin Hash Rate Goes On Death Spiral Post China\u2019s Crackdown On Miners<\/a><\/strong><\/em><\/p>\n

On May 21st, in a \u201c<\/span>meeting of the State Council\u2019s Financial Stability and Development Committee, a top-level economic and financial policymaking body chaired by Vice Premier Liu He,\u201d <\/span><\/i>China decided to ban Bitcoin mining. Less than a month later, on June 19th, the Sichuan government ordered \u201c<\/span>the closure of Ye\u2019s facility, along with 25 other cryptocurrency mining projects in the province.<\/span><\/i>\u201d<\/span><\/p>\n

That story started like this:<\/span><\/p>\n

Ye decided to jump on the Bitcoin mining bandwagon in 2018 when he closed down the majority of his internet caf\u00e9 business, mortgaged his apartment in Anqing, Anhui province, borrowed money from relatives and left his wife and daughters to move to Sichuan<\/span><\/p><\/blockquote>\n

What can we learn from Ye\u2019s first-hand experience?<\/span><\/p>\n

1.- It Only Takes 80 Employees To Manage An 80,000 Bitcoin Miners Operation<\/span><\/h2>\n

At the peak of the facility\u2019s Bitcoin mining operations, Ye was in charge of 80 employees and a total of 80,000 mining machines, with the entire project estimated to be earning more than 90 million yuan ($14 million) during the peak six months when Sichuan\u2019s rivers are glutted and electricity is especially cheap<\/span><\/p><\/blockquote>\n

The numbers are staggering. Evidently, supersizing mining operations offers a huge advantage. Especially in regions with cheap electricity.<\/span><\/p>\n

2.- Clean An Renewable Energy Didn\u2019t Save Sichuan<\/span><\/h2>\n

The fact that the electricity for crypto mining in Sichuan came from clean hydropower meant that many thought the province would be a safe haven for Bitcoin miners. As pressure on local governments to cut carbon emissions mounts, projects were successfully shuttered in some other provincial-level regions \u2014 such as Xinjiang and Inner Mongolia \u2014 where the mining was chiefly fueled by coal.\u00a0<\/span><\/p><\/blockquote>\n

The only thing we can know for sure about the Chinese government\u2019s plan is this: the environment is not on their radar. They\u2019re closing these mining operations for other reasons altogether.\u00a0<\/span><\/p>\n

3.- Bitcoin\u2019s Energy Use Is Not The Issue<\/span><\/h2>\n

The fact that the Sichuan crackdown was about to hit, confirms what everyone has known: the “justification” for cracking down bitcoin miners, the cold shoulder on bitcoin by social luminaries (such as Elon Musk) and the use of the ESG bullshit excuse that crypto is “dirty” have always been merely a socially-acceptable smoke screen for a regulatory crackdown on cryptos when they become too big.<\/span><\/p><\/blockquote>\n

Enough said. ZeroHedge nailed it on the head.\u00a0<\/span><\/p>\n

It\u2019s also worth noting that <\/span>Nic Carter also nailed it on the head<\/span><\/a> regarding China\u2019s energy mix when it came to Bitcoin mining.<\/span><\/p>\n

4.- Individuals Can Still Mine Bitcoin In China<\/span><\/h2>\n

Despite the government\u2019s hardline approach, Ye is determined to carry on: \u201cThis industry is extremely volatile. High emotions and stress are involved, but that\u2019s also its appeal. Companies are banned from mining Bitcoin, but individuals aren\u2019t,\u201d Ye said, adding that he plans to turn around his operation by purchasing old equipment and downsizing.<\/span><\/p><\/blockquote>\n

The Chinese government was only worried about industrial-sized private mining operations. The question is why. What are they planning? Nobody seems to have figured that out.<\/span><\/p>\n

5.- One Owner Mined Between 70 and 80 Bitcoins Per Day<\/span><\/h2>\n

Another character enters the scene, the owner of the mine. We\u2019ll call him Liu Weimin, also a pseudonym.\u00a0<\/span><\/p>\n

Liu owned more than 10 Bitcoin mining farms, which industry insiders estimated accounted for one-eighth of the total electricity consumed by all Bitcoin mines in the province.<\/span><\/p>\n

During peak seasons, Liu said his farms could mine 70 to 80 Bitcoins every day. About 900 Bitcoins are issued each day globally, according to an <\/span>industry information platform<\/span><\/a>.<\/span><\/p><\/blockquote>\n

Almost 10% of the total daily issuance seems like too much for a single individual. The Bitcoin world scored a huge win with the Chinese ban on Bitcoin mining.\u00a0<\/span><\/p>\n

\"BTCUSD<\/p>\n

BTC price chart on Bitstamp | Source: BTC\/USD on TradingView.com<\/a><\/pre>\n
6.- A Industrial-Sized Mine Can Break Even In A Year<\/span><\/h2>\n
\u201cMining farms are somewhat like conventional crop farms. No matter how the Bitcoin market changes, the mining process remains. Opening such facilities is a relatively stable investment, and I can generally break even in a year,\u201d Liu told Caixin.<\/span><\/p><\/blockquote>\n
There are few businesses in the world that can give you that ROI. At least among the legal ones. Food for thought for the young entrepreneurs out there.<\/span><\/p>\n
Related Reading | How China Bitcoin FUD Is Lowering The Cost To Produce BTC<\/a><\/strong><\/em><\/p>\n
7.- Bitcoin Mining Used To Be A Respected Business In China<\/span><\/h2>\n
Thanks to the Sichuan government\u2019s mining-friendly policies back then, Liu\u2019s business continued to flourish for the past three years. He quickly made a name for himself, and was a frequent guest at government events and meetings, where he was recognized as one of many model energy consumers who had helped lift locals out of poverty.<\/span><\/p><\/blockquote>\n
From a respected businessman to a social pariah. It would be easy to feel sorry for Liu if he wasn\u2019t on his way to restore his business.<\/span><\/p>\n
Following the government\u2019s May 21 crackdown announcement, he arranged teams of employees to scout for new venues in North America and Kazakhstan. In mid-June, his company bought an oilfield in Canada that could potentially provide fuel for his Bitcoin mining business.<\/span><\/p><\/blockquote>\n
So, why did China banned Bitcoin mining? We have no idea. We know, however, that their <\/span>hold over the industry was already waning<\/span><\/a> and that entrepreneurs are <\/span>selling small hydropower stations<\/span><\/a>. And we have both Ye and Liu\u2019s stories. Is the picture clearer? Are we closer to the real deal?<\/span><\/p>\n
Featured Image by \u041b\u0435\u0447\u0435\u043d\u0438\u0435 \u041d\u0430\u0440\u043a\u043e\u043c\u0430\u043d\u0438\u0438<\/a> from Pixabay<\/a> - Charts by TradingView<\/a><\/pre>\n","protected":false},"excerpt":{"rendered":"
Did China make the mistake of a lifetime by banning Bitcoin mining or do they have a secret plan? That\u2019s the question the whole Bitcoin ecosystem is struggling to answer. And today, we got another piece of the puzzle. In the article titled \u201cIt’s Over, It’s All Over” – The Death Of China’s Bitcoin Mining Industry,\u201d a pseudonymous manager by the name of Ye Lang tells his story. And in his tale, a bigger story is reflected. Related Reading | Bitcoin Hash Rate Goes On Death Spiral Post China\u2019s Crackdown On Miners On May 21st, in a \u201cmeeting of the State Council\u2019s Financial Stability and Development Committee, a top-level economic and financial policymaking body chaired by Vice Premier Liu He,\u201d China decided to ban Bitcoin mining. Less than a month later, on June 19th, the Sichuan government ordered \u201cthe closure of Ye\u2019s facility, along with 25 other cryptocurrency mining projects in the province.\u201d That story started like this: Ye decided to jump on the Bitcoin mining bandwagon in 2018 when he closed down the majority of his internet caf\u00e9 business, mortgaged his apartment in Anqing, Anhui province, borrowed money from relatives and left his wife and daughters to move to Sichuan What can we learn from Ye\u2019s first-hand experience? 1.- It Only Takes 80 Employees To Manage An 80,000 Bitcoin Miners Operation At the peak of the facility\u2019s Bitcoin mining operations, Ye was in charge of 80 employees and a total of 80,000 mining machines, with the entire project estimated to be earning more than 90 million yuan ($14 million) during the peak six months when Sichuan\u2019s rivers are glutted and electricity is especially cheap The numbers are staggering. Evidently, supersizing mining operations offers a huge advantage. Especially in regions with cheap electricity. 2.- Clean An Renewable Energy Didn\u2019t Save Sichuan The fact that the electricity for crypto mining in Sichuan came from clean hydropower meant that many thought the province would be a safe haven for Bitcoin miners. As pressure on local governments to cut carbon emissions mounts, projects were successfully shuttered in some other provincial-level regions \u2014 such as Xinjiang and Inner Mongolia \u2014 where the mining was chiefly fueled by coal.\u00a0 The only thing we can know for sure about the Chinese government\u2019s plan is this: the environment is not on their radar. They\u2019re closing these mining operations for other reasons altogether.\u00a0 3.- Bitcoin\u2019s Energy Use Is Not The Issue The fact that the Sichuan crackdown was about to hit, confirms what everyone has known: the “justification” for cracking down bitcoin miners, the cold shoulder on bitcoin by social luminaries (such as Elon Musk) and the use of the ESG bullshit excuse that crypto is “dirty” have always been merely a socially-acceptable smoke screen for a regulatory crackdown on cryptos when they become too big. Enough said. ZeroHedge nailed it on the head.\u00a0 It\u2019s also worth noting that Nic Carter also nailed it on the head regarding China\u2019s energy mix when it came to Bitcoin mining. 4.- Individuals Can Still Mine Bitcoin In China Despite the government\u2019s hardline approach, Ye is determined to carry on: \u201cThis industry is extremely volatile. High emotions and stress are involved, but that\u2019s also its appeal. Companies are banned from mining Bitcoin, but individuals aren\u2019t,\u201d Ye said, adding that he plans to turn around his operation by purchasing old equipment and downsizing. The Chinese government was only worried about industrial-sized private mining operations. The question is why. What are they planning? Nobody seems to have figured that out. 5.- One Owner Mined Between 70 and 80 Bitcoins Per Day Another character enters the scene, the owner of the mine. We\u2019ll call him Liu Weimin, also a pseudonym.\u00a0 Liu owned more than 10 Bitcoin mining farms, which industry insiders estimated accounted for one-eighth of the total electricity consumed by all Bitcoin mines in the province. During peak seasons, Liu said his farms could mine 70 to 80 Bitcoins every day. About 900 Bitcoins are issued each day globally, according to an industry information platform. Almost 10% of the total daily issuance seems like too much for a single individual. The Bitcoin world scored a huge win with the Chinese ban on Bitcoin mining.\u00a0 BTC price chart on Bitstamp | Source: BTC\/USD on TradingView.com 6.- A Industrial-Sized Mine Can Break Even In A Year \u201cMining farms are somewhat like conventional crop farms. No matter how the Bitcoin market changes, the mining process remains. Opening such facilities is a relatively stable investment, and I can generally break even in a year,\u201d Liu told Caixin. There are few businesses in the world that can give you that ROI. At least among the legal ones. Food for thought for the young entrepreneurs out there. Related Reading | How China Bitcoin FUD Is Lowering The Cost To Produce BTC 7.- Bitcoin Mining Used To Be A Respected Business In China Thanks to the Sichuan government\u2019s mining-friendly policies back then, Liu\u2019s business continued to flourish for the past three years. He quickly made a name for himself, and was a frequent guest at government events and meetings, where he was recognized as one of many model energy consumers who had helped lift locals out of poverty. From a respected businessman to a social pariah. It would be easy to feel sorry for Liu if he wasn\u2019t on his way to restore his business. Following the government\u2019s May 21 crackdown announcement, he arranged teams of employees to scout for new venues in North America and Kazakhstan. In mid-June, his company bought an oilfield in Canada that could potentially provide fuel for his Bitcoin mining business. So, why did China banned Bitcoin mining? We have no idea. We know, however, that their hold over the industry was already waning and that entrepreneurs are selling small hydropower stations. And we have both Ye and Liu\u2019s stories. Is the picture clearer? Are we closer to the real deal? Featured Image by \u041b\u0435\u0447\u0435\u043d\u0438\u0435 \u041d\u0430\u0440\u043a\u043e\u043c\u0430\u043d\u0438\u0438 from Pixabay – Charts by TradingView<\/p>\n","protected":false},"author":539,"featured_media":468558,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[640,1310,12575,13814,14718,2650,83954,9825,10188,83808,83952,83953],"class_list":["post-468556","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin-mining","tag-china","tag-green-energy","tag-hydro-power","tag-hydroelectric-power","tag-kazakhstan","tag-mining-farms","tag-north-america","tag-sichuan","tag-sustainable-energy","tag-vice-premier-liu-he","tag-zerohedge"],"acf":[],"yoast_head":"\n\u201cThe Death Of China's Bitcoin Mining Industry," 7 Takeaways From The Article<\/title>\n<meta name=\"description\" content=\"Did China make the mistake of a lifetime by banning Bitcoin mining or do they have a secret plan? That\u2019s the question the whole Bitcoin ecosystem is\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u201cThe Death Of China's Bitcoin Mining Industry," 7 Takeaways From The Article\" \/>\n<meta property=\"og:description\" content=\"Did China make the mistake of a lifetime by banning Bitcoin mining or do they have a secret plan? That\u2019s the question the whole Bitcoin ecosystem is\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-03T04:17:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T10:37:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/farm-2852024_1280.jpg?fit=1280%2C853\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"853\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Eduardo Pr\u00f3spero\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@edprospero23\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Eduardo Pr\u00f3spero\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/uniquehot.com\/news\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/news\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\/\"},\"author\":{\"name\":\"Eduardo Pr\u00f3spero\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/22c279a7fc27f3d5508cbfd6dc07c37b\"},\"headline\":\"\u201cThe Death Of China’s Bitcoin Mining Industry,” 7 Takeaways From The Article\",\"datePublished\":\"2021-08-03T04:17:01+00:00\",\"dateModified\":\"2024-06-11T10:37:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\/\"},\"wordCount\":992,\"publisher\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/farm-2852024_1280.jpg?fit=1280%2C853\",\"keywords\":[\"bitcoin mining\",\"china\",\"green energy\",\"Hydro Power\",\"hydroelectric power\",\"kazakhstan\",\"Mining farms\",\"north america\",\"sichuan\",\"Sustainable energy\",\"Vice Premier Liu He\",\"ZeroHedge\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2021\",\"copyrightHolder\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/uniquehot.com\/news\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\/\",\"url\":\"https:\/\/uniquehot.com\/news\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\/\",\"name\":\"\u201cThe Death Of China's Bitcoin Mining Industry,\\\" 7 Takeaways From The Article\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/farm-2852024_1280.jpg?fit=1280%2C853\",\"datePublished\":\"2021-08-03T04:17:01+00:00\",\"dateModified\":\"2024-06-11T10:37:35+00:00\",\"description\":\"Did China make the mistake of a lifetime by banning Bitcoin mining or do they have a secret plan? That\u2019s the question the whole Bitcoin ecosystem is\",\"breadcrumb\":{\"@id\":\"https:\/\/uniquehot.com\/news\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/uniquehot.com\/news\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/news\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\/#primaryimage\",\"url\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/farm-2852024_1280.jpg?fit=1280%2C853\",\"contentUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/farm-2852024_1280.jpg?fit=1280%2C853\",\"width\":1280,\"height\":853,\"caption\":\"Bitcoin mining, several miners in an aluminum case\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/uniquehot.com\/news\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/uniquehot.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"\u201cThe Death Of China’s Bitcoin Mining Industry,” 7 Takeaways From The Article\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/uniquehot.com\/#website\",\"url\":\"https:\/\/uniquehot.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin & Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/uniquehot.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/uniquehot.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/uniquehot.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/22c279a7fc27f3d5508cbfd6dc07c37b\",\"name\":\"Eduardo Pr\u00f3spero\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/0ab146fdc950bd520dc4179af60b4326?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/0ab146fdc950bd520dc4179af60b4326?s=96&d=mm&r=g\",\"caption\":\"Eduardo Pr\u00f3spero\"},\"description\":\"Eduardo Prospero is an author, a content writer, and a professional rapper. A Bitcoin maximalist in disguise. Working on a Bitcoin book. Venezuelan. He wrote a novel, but it's only available in Spanish. It's called \\\"La Tormenta.\\\"\",\"sameAs\":[\"https:\/\/samplesandexamples.wordpress.com\/\",\"https:\/\/x.com\/edprospero23\"],\"url\":\"https:\/\/uniquehot.com\/author\/eduardoprospero\/\"}]}<\/script>\n","yoast_head_json":{"title":"\u201cThe Death Of China's Bitcoin Mining Industry,\" 7 Takeaways From The Article","description":"Did China make the mistake of a lifetime by banning Bitcoin mining or do they have a secret plan? That\u2019s the question the whole Bitcoin ecosystem is","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/uniquehot.com\/news\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\/","og_locale":"en_US","og_type":"article","og_title":"\u201cThe Death Of China's Bitcoin Mining Industry,\" 7 Takeaways From The Article","og_description":"Did China make the mistake of a lifetime by banning Bitcoin mining or do they have a secret plan? That\u2019s the question the whole Bitcoin ecosystem is","og_url":"https:\/\/uniquehot.com\/news\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2021-08-03T04:17:01+00:00","article_modified_time":"2024-06-11T10:37:35+00:00","og_image":[{"width":1280,"height":853,"url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/farm-2852024_1280.jpg?fit=1280%2C853","type":"image\/jpeg"}],"author":"Eduardo Pr\u00f3spero","twitter_card":"summary_large_image","twitter_creator":"@edprospero23","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Eduardo Pr\u00f3spero","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/uniquehot.com\/news\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\/#article","isPartOf":{"@id":"https:\/\/uniquehot.com\/news\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\/"},"author":{"name":"Eduardo Pr\u00f3spero","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/22c279a7fc27f3d5508cbfd6dc07c37b"},"headline":"\u201cThe Death Of China’s Bitcoin Mining Industry,” 7 Takeaways From The Article","datePublished":"2021-08-03T04:17:01+00:00","dateModified":"2024-06-11T10:37:35+00:00","mainEntityOfPage":{"@id":"https:\/\/uniquehot.com\/news\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\/"},"wordCount":992,"publisher":{"@id":"https:\/\/uniquehot.com\/#organization"},"image":{"@id":"https:\/\/uniquehot.com\/news\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\/#primaryimage"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/farm-2852024_1280.jpg?fit=1280%2C853","keywords":["bitcoin mining","china","green energy","Hydro Power","hydroelectric power","kazakhstan","Mining farms","north america","sichuan","Sustainable energy","Vice Premier Liu He","ZeroHedge"],"articleSection":["Cryptocurrency Market News"],"inLanguage":"en-US","copyrightYear":"2021","copyrightHolder":{"@id":"https:\/\/uniquehot.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/uniquehot.com\/news\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\/","url":"https:\/\/uniquehot.com\/news\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\/","name":"\u201cThe Death Of China's Bitcoin Mining Industry,\" 7 Takeaways From The Article","isPartOf":{"@id":"https:\/\/uniquehot.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/uniquehot.com\/news\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\/#primaryimage"},"image":{"@id":"https:\/\/uniquehot.com\/news\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\/#primaryimage"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/farm-2852024_1280.jpg?fit=1280%2C853","datePublished":"2021-08-03T04:17:01+00:00","dateModified":"2024-06-11T10:37:35+00:00","description":"Did China make the mistake of a lifetime by banning Bitcoin mining or do they have a secret plan? That\u2019s the question the whole Bitcoin ecosystem is","breadcrumb":{"@id":"https:\/\/uniquehot.com\/news\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/uniquehot.com\/news\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/news\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\/#primaryimage","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/farm-2852024_1280.jpg?fit=1280%2C853","contentUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/farm-2852024_1280.jpg?fit=1280%2C853","width":1280,"height":853,"caption":"Bitcoin mining, several miners in an aluminum case"},{"@type":"BreadcrumbList","@id":"https:\/\/uniquehot.com\/news\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/uniquehot.com\/"},{"@type":"ListItem","position":2,"name":"\u201cThe Death Of China’s Bitcoin Mining Industry,” 7 Takeaways From The Article"}]},{"@type":"WebSite","@id":"https:\/\/uniquehot.com\/#website","url":"https:\/\/uniquehot.com\/","name":"NewsBTC","description":"Bitcoin & Cryptocurrency News Today","publisher":{"@id":"https:\/\/uniquehot.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/uniquehot.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/uniquehot.com\/#organization","name":"NewsBTC","url":"https:\/\/uniquehot.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/22c279a7fc27f3d5508cbfd6dc07c37b","name":"Eduardo Pr\u00f3spero","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0ab146fdc950bd520dc4179af60b4326?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0ab146fdc950bd520dc4179af60b4326?s=96&d=mm&r=g","caption":"Eduardo Pr\u00f3spero"},"description":"Eduardo Prospero is an author, a content writer, and a professional rapper. A Bitcoin maximalist in disguise. Working on a Bitcoin book. Venezuelan. He wrote a novel, but it's only available in Spanish. It's called \"La Tormenta.\"","sameAs":["https:\/\/samplesandexamples.wordpress.com\/","https:\/\/x.com\/edprospero23"],"url":"https:\/\/uniquehot.com\/author\/eduardoprospero\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"\u201cThe Death Of China’s Bitcoin Mining Industry,” 7 Takeaways From The Article","url":"http:\/\/uniquehot.com\/news\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/farm-2852024_1280.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/farm-2852024_1280.jpg?fit=1280%2C853"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Eduardo Pr\u00f3spero"}],"creator":["Eduardo Pr\u00f3spero"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin mining","china","green energy","hydro power","hydroelectric power","kazakhstan","mining farms","north america","sichuan","sustainable energy","vice premier liu he","zerohedge"],"dateCreated":"2021-08-03T04:17:01Z","datePublished":"2021-08-03T04:17:01Z","dateModified":"2024-06-11T10:37:35Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"\\u201cThe Death Of China’s Bitcoin Mining Industry,” 7 Takeaways From The Article\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/the-death-of-chinas-bitcoin-mining-industry-7-takeaways-from-the-article\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/08\\\/farm-2852024_1280.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/08\\\/farm-2852024_1280.jpg?fit=1280%2C853\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Eduardo Pr\\u00f3spero\"}],\"creator\":[\"Eduardo Pr\\u00f3spero\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin mining\",\"china\",\"green energy\",\"hydro power\",\"hydroelectric power\",\"kazakhstan\",\"mining farms\",\"north america\",\"sichuan\",\"sustainable energy\",\"vice premier liu he\",\"zerohedge\"],\"dateCreated\":\"2021-08-03T04:17:01Z\",\"datePublished\":\"2021-08-03T04:17:01Z\",\"dateModified\":\"2024-06-11T10:37:35Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/farm-2852024_1280.jpg?fit=1280%2C853","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/468556"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/539"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=468556"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/468556\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/468558"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=468556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=468556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=468556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}