Study Reveals South Korea’s ‘Kimchi Premium’ Strongly Linked to International Remittances to China

January 10, 2023 Bitcoin.com

2021

A newly-released study published in December 2022 reveals that South Korea’s “kimchi premium,” the divergence in cryptocurrency valuations on Korean exchanges compared to Western trading platforms, is strongly associated with a surge in international remittances to China. Examination of Overseas Remittances to China Uncovers Strong Correlation with South Korea’s ‘Kimchi Premium’ According to a study […]

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Kazakhstan Shuts Down Banks, Internet Amid Unrest That Threatens Bitcoin Mining, Hashrate

January 6, 2022 Bitcoin.com

$POWER

Measures imposed by authorities to quell mass protests in mining hotspot Kazakhstan are affecting cryptocurrency markets and the Bitcoin network hashrate. To deal with the civil unrest caused by rising fuel prices and a worsening economy, the government restricted access to the internet and closed down local banks. Fears are rising that the turmoil may […]

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Canaan Expands Mining Operations in Kazakhstan Amid Power Deficit, Protests

January 5, 2022 Bitcoin.com

$POWER

Hardware manufacturer Canaan is expanding its crypto mining operations in Kazakhstan. The company is now cooperating with a number of mining firms there and has already deployed over 10,000 pieces of hardware despite the country’s challenges with electricity supply. Increased energy prices have also provoked protests that could potentially affect the industry. Canaan Secures Mining […]

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Russia Gets Bulk of Chinese Mining Machines Amid Miners’ Exodus, Report Reveals

November 25, 2021 Bitcoin.com

Bitcoin

China’s crackdown on its crypto mining sector, launched earlier this year, caused a massive migration of mining enterprises to friendlier jurisdictions. Miners have been moving enormous amount of coin minting hardware to new bases around the world, with Russia reportedly taking the largest share among several attractive destinations, including the U.S. Russia, Kazakhstan, US Accept […]

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Iran Raises Alarm Over Potential Influx of Miners From China

July 28, 2021 Bitcoin.com

Beijing

With the government in Beijing cracking down on their operations, Chinese miners have been on the lookout for other jurisdictions. Providing low-cost energy, Iran has emerged as a prospective destination. However, the country’s state-owned power utility has expressed concerns over a possible influx of miners and illegal imports of mining hardware from China. Tavanir Warns […]

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