Episode 70 of Season 3 of The Scoop was recorded remotely with The Block’s Frank Chaparro and editor Wolfie Zhao.
Bakkt® unlocks the $1.2+ trillion of digital assets that is currently held in cryptocurrencies, rewards and loyalty points, gaming assets and merchant stored value. We began in 2018 with the vision to bring trust and transparency to digital assets. Through the Bakkt Warehouse and Bakkt Bitcoin Futures and Options contracts, we serve institutional clients in an end-to-end regulated market with true price transparency. For consumers, Bakkt aggregates digital assets to enable instant liquidity and to empower users to trade, transfer and pay however they want. Visit Bakkt.com for more information
Whether you’re an experienced crypto trader or just starting out, Kraken has the tools to help you achieve financial freedom. With 50+ cryptocurrencies to choose from, industry-leading security and a wide variety of features to suit any investing strategy, Kraken puts the power in your hands to buy, sell and trade digital assets. Visit Kraken.com to get started today.
Exodus is leading the world out of traditional finance by building beautiful and user-friendly crypto products. Forget having to learn the nuances of different cryptocurrencies. Exodus is designed for everyone and hides the complex details behind a beautiful and intuitive interface.
Buy and sell one cryptocurrency for another from the comfort of your wallet, in seconds. Funds remain under your full control.
The latest data from Cambridge Centre for Alternative Finance shows that the U.S. has taken over China as the country with the biggest share of Bitcoin’s hash rate.
The backdrop of this data shift: the near-complete exodus of bitcoin miners from China, once the undisputed powerhouse for this particular sector of the crypto economy.
This historic reversal took place over the course of mere months after China ordered its initial crackdown on the crypto mining space in May. China’s government escalated the crackdown even further last month, and major companies like Bitmain have been forced to react.
With the effects of China’s mining crackdown still lingering, this special episode of The Scoop — the Mining Report — features The Block editor Wolfie Zhao and host Frank Chaparro as they discuss the state of mining on an international level as well as the current state of affairs in China today.
Some of the topics covered include:
- What China’s “banned” in 2013, 2017, and 2021 and why this time was different.
- The different situation in China for Ethereum miners who rely on GPUs.
- Why Chinese miners who owned mining equipment had options in the wake of the crackdown but those invested in mining firms faced tough choices.
- Why a comeback in China is unlikely — and why the U.S. hashrate share is set to keep growing.
© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.