China prohibits the electricity supply to mining pools

Power stations under the control of the Sichuan Electric Grid Company will have to stop supplying electricity to Bitcoin miners
14 November 2017   1999

The Tencent Finance received a circular from the Sichuan Electric Grid Company, sent to the mining companies in the region.

The document says that the mining of bitcoins is illegal activity, and therefore the hydroelectric power stations under the control of the SEC will have to stop supplying electricity to such enterprises.

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Chinese miners explained to Tencent Finance that they are talking about hydroelectric power stations under the management of the Sichuan Electric Grid Company, and the regulation does not apply to small hydro power stations that are rife with the region.

But the miners are afraid that the SEC will continue to buy up small HPPs and they may find themselves without electricity for mining.

The Chinese province of Sichuan is a region rich in water resources. The hydropower stations in the province have excess capacity, which makes the cost of electricity very low. Most of the mining enterprises in China are located in Sichuan, as well as similar in characteristics of Inner Mongolia.

SEC to Start VanEck-SolidX BTC-ETF Consideration

Starting today, the 45-day countdown to the SEC initial decision was launched
20 February 2019   98

For the first time since August of last year, two proposals on the creation of a Bitcoin-ETF are under consideration by the US Securities and Exchange Commission (SEC).

The application of VanEck and SolidX, issued in cooperation with the Cboe BZX exchange, as expected, was included in the Federal Register issue this Wednesday, with which the 45-day countdown to the SEC initial decision was launched. The application of Bitwise Asset Management and NYSE Arca was published last week.

I … hope that our investment in regulatory and market education, hard work and commitment will be honored when the time comes.

Gabor Gurbacs

Director of digital asset strategy, VanEck

The head of Bitwise’s research department, Matt Hogan, believes that not only firms that have submitted bids to create Bitcoin-ETFs are looking for approvals, but and the entire “extremely fast-growing” crypto industry.

A year ago there was maybe one qualified crypto custodian … and now there are half-a-dozen, and that number will go up from here. A little more than year ago, we didn’t have futures. A year ago we didn’t have nearly as many firms making markets. A few months ago, you didn’t have folks like Fidelity announced in the space. It’s evolving really, really quickly.

Matt Hougan

Global head of research, Bitwise

 As reported, ultimately, however, a bitcoin ETF approval will depend on how companies approach their proposals.