Local Government of China to Regulate Bitcoin Mining

Local goverments are expected to regulate the power usage of bitcoin miners to gradually reduce the scale of their production
03 January 2018   725

The central bank of China told members of the Leading Group of Beijing Internet Financial Risks Remediation at a meeting at the end of 2017 that the monetary authority can tell local governments to regulate the power usage of bitcoin miners to gradually reduce the scale of their production.

While the People’s Bank of China (PBOC) can’t directly regulate bitcoin miners’ power usage, it can ask local authorities to do so. At the meeting, the PBOC said that development of bitcoin mining will be limited, according to the source, who declined to be named.

In September China ordered all initial coin offerings to cease and all cryptocurrency trading exchanges to be shuttered with the aim of containing financial risks.

GMO Internet to Release 7nm Bitcoin Miner

Mass production is planned to begin on June 6;  shipment starting by the end of October
24 May 2018   132

Japanese IT-company GMO Internet intends to release the world's first devices for bitcoin mining based on 7-nm chips before the end of this year. This is reported by Coindesk.

The company will start production of the new B2 miner on June 6, and its deliveries will begin in late October.

The announcement was made after several months of research and development of technology for the future device. Company reported on its plans to develop ASIC miner last September. It is expected that the device will be able to provide greater computing power with less electricity, but more detailed information will be provided along with the official announcement in June.

In addition to selling B2 to other miners, GMO Internet plans to install new devices on its own farms. Last year, the company allocated $ 90 million to develop its own business in this area.