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VANCOUVER, BC, Dec. 6, 2021 /PRNewswire/ — USA News Group – Again in 2019, Ripple CEO Brad Garlinghouse made the notorious prediction that Bitcoin (BTC) would not win worldwide adoption as a result of “Bitcoin is really controlled by China.” Flash ahead to 2021, the place Bitcoin now’s hitting all-time highs and gaining legal tender standing, and China has enacted a comprehensive crackdown on cryptocurrency, permitting the US to overhaul it because the world’s largest BTC mining hub. Now there’s not solely been a mass exodus of crypto associated operations from China to the USA, together with livestreaming dogecoin (DOGE) mining platform Good day Pal Worldwide Inc. (CSE:HP) (OTCQB:HLLPF), BTC miners SOS Restricted (NYSE:SOS), crypto mining machine producers Canaan Inc. (NASDAQ:CAN) and Ebang Worldwide Holdings Inc. (NASDAQ:EBON), all whereas retail big Alibaba Group Holding Restricted (NYSE:BABA) formally banned all crypto associated purchases on its e-store.
Whereas its headquarters have been already in Vancouver, Canada, Good day Pal Worldwide Inc. (CSE:HP) (OTC:HLLPF) not too long ago stated it is relocating its crypto mining rigs to North America, after proactively securing new areas for his or her new Bitmain Antminer L7 Machines to be housed.
“We count on that the relocation of our mining operations to North America will set us up for long run stability in our crypto-mining operations,” stated KL Wong, Founder and Chairman of Good day Pal. “In flip, this may present us a strong base to execute our plans of integrating crypto into our social networking core enterprise.”
By means of its associate Shanghai Yitang Knowledge, Good day Pal carried out an intensive evaluate of optimum international mining areas and determined to maneuver most of their rigs in New York State.
All areas are clear renewable vitality (hydro-powered). As properly all new mining rigs shall be shipped immediately to those North American amenities upon taking supply from Bitmain, which is predicted to be in November and/or December this yr.
Good day Pal can be persevering with to promote its current Antminer L3+ mining rigs in China and utilizing the proceeds to buy model new Antminer L7 fashions, which shall be housed in North America.
The announcement got here inside every week of Good day Pal announcing file quarterly revenues, the vast majority of which got here from cryptocurrency mining.
“We’re more than happy to see the progress we have now made as a Firm, and imagine that the outcomes are evident within the monetary figures,” stated Wong. “We’re notably excited within the continued internationalization of our enterprise, as mirrored in our growth of livestreaming companies exterior China and the mixing of cryptocurrency into our platform by our newly launched crypto-mining operations.”
Equally, SOS Restricted (NYSE:SOS) not too long ago reported progress of its North American Tremendous-Computing and Internet hosting Middle, situated in Wisconsin—a state wealthy pure sources and renewable vitality. At current, 6 models of cellular sensible knowledge middle have arrived in Wisconsin.
“The supercomputing and internet hosting middle in Wisconsin is a vital a part of SOS’s efforts to create its personal blockchain know-how based mostly ecosystem,” stated Yandai Wang, CEO and Chairman of SOS. “We stay up for launching our Tremendous-Computing and Internet hosting service enterprise in Wisconsin within the first quarter of 2022.”
The whole energy on the Wisconsin middle is predicted to be 50MW, fueled by renewable energy and grid energy. The Wisconsin facility is projected to have a complete BTC hash energy of 1,000 PH as soon as in full capability of operation. Section I of the middle is projected to make use of as much as 20MW 17 models of cellular sensible knowledge middle are geared up for this goal.
Regardless of the Chinese language ban, mining machine maker Canaan Inc. (NASDAQ:CAN) has been securing orders for hundreds of machines at a time, together with the current sale of 6,500 Bitcoin mining machines to Hive Blockchain. This newest order by HIVE follows upon two current purchases of 4,000 models and 6,400 models of Canaan’s Avalon Miners in August and January of 2021, respectively.
“The extra buy order from HIVE additional strengthens our working relationship,” stated Nangeng Zhang, Chairman and Chief Govt Officer of Canaan. “The consecutive offers usually are not solely a testomony to the standard and efficiency of our mining machines, but additionally exhibit our efficient shopper relationship-building efforts. We’ll proceed to place ourselves as an essential associate for HIVE as they speed up their enterprise progress.”
Again in Might, Ebang Worldwide Holdings Inc. (NASDAQ:EBON) made an official statement titled Crackdown on Bitcoin mining has no direct or fast affect on the corporate.
In it, Ebang harassed the crackdown had no direct or fast affect on the corporate by highlighting for its shareholders the distinctions between its enterprise and the affect of the China authorities’s coverage.
“Once we first introduced our mining enterprise, we solely thought-about abroad mining farms, subsequently the current crackdown on bitcoin mining inside China has no direct or fast affect on the corporate,” stated Ebang within the assertion. “The corporate has banned Chinese language residents from collaborating in buying and selling and banned customers or potential customers from Chinese language IP addresses from accessing our alternate platform since we positioned our cryptocurrency buying and selling mechanism. Accordingly, the Chinese language authorities’s crackdown on buying and selling has no affect on the corporate and its prospects.”
It is price noting that Ebang hasn’t put out a single press launch on its English language web site since that Might assertion.
Multi-billion-dollar retail big Alibaba Group Holding Restricted (NYSE:BABA) took the ban very significantly, banning all overseas sales of cryptocurrency mining again in September.
Alibaba.com explicitly prohibited the sale of “digital currency-mining machines” – together with {hardware} and software program used for acquiring cryptocurrencies corresponding to bitcoin – in addition to mining tutorials. It then eliminated two product classes – “blockchain miners” and “blockchain miner equipment” – from the positioning.
Nonetheless, extra not too long ago Alibaba rebranded its non-fungible token (NFT) choices as “digital collectibles”, in an effort to steer away from any potential battle with Beijing—particularly after Chinese language state-run media not too long ago warned of a doubtlessly ‘big bubble’ within the NFT market.
On Alibaba’s digital flea market Xianyu, a seek for “NFT” doesn’t present any outcomes. In the meantime a seek for “digital collectibles”, turned up a few dozen objects on the market.
For Extra Info please go to: https://usanewsgroup.com/2020/11/16/live-streaming-is-taking-the-market-by-storm/
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