The Digital Source For China's Tech Innovation Since 2000

China Tech Buzz

Global News Impacting Chinese Tech

'Up to 1 million' bitcoin processors could be relocated to Alberta from China under energy firm's proposal – CBC.ca

News Snapshot:

Three natural gas-producing sites in southern Alberta could host “up to one million” bitcoin mining machines relocated from China under a deal proposed by Nevada-based Black Rock Petroleum Company amid Beijing’s ongoing crackdown on cryptocurrency production and trading. Bitcoin is a digital currency that can be sent between users without the need for a central bank, leveraging blockchain technology to maintain a decentralized ledger of transactions. Bitcoin’s value has spiked in the last year. The process of unlocking new bitcoin to add to the existing supply is calling “mining.” This requires the use of computers with powerful processors in an…

Other China Tech Buzz: