Bitcoin production is rolling on in China despite Beijing’s strict ban on crypto mining

China was once the world’s biggest crypto mining hub.

And Bitcoin miners aren’t giving up, despite Beijing’s ban on the practice.

Several underground mining operations have since emerged in China, with miners taking care to work around Beijing’s ban.

Last year Chinese authorities launched a fresh crackdown on crypto, abolishing mining to combat the creation of new digital currency.

Many miners fled to other countries, including the U.S. and Kazakhstan, which borders China.

But now, fresh research from Cambridge shows that Chinese bitcoin mining activity has quickly rebounded.

This is a remarkable comeback following China’s share of global bitcoin mining plummeting to zero in July

Within a few short months, the new data suggests China made up just over 22 per cent of the total bitcoin mining market

A little over a month after Robinhood released its first crypto wallet, the company says it’s already working on a second

Robinhood’s new wallet will give users sole custody over the keys needed to control their money on the blockchain.

It means users won’t depend on Robinhood if the system fails.

But there are some risks of losing the funds altogether, especially if they lose their private key.

The company says the wallet will be offered as a standalone app and says it will have an accessible and simple design.

Crypto has quickly become part of Robinhood’s business strategy.

The company recently said Bitcoin was the number one recurring asset its users have been buying this year.

MiamiCoin crypto lost 88 percent of its value in less than a year

The CityCoin initiative requires miners to gain tokens on the Stacks Blockchain to then be used to bid for Miami-Coin

Allegedly the winning bidder receives 70 per cent of their investment in MiamiCoin, while the U.S. city receives the other 30 per cent in tokens.

The coin has enjoyed the support of the city’s Mayor Francis X. Suarez, who once said it could lead to a government running the city without citizens paying taxes.

When the project first launched, it was projected to succeed as the city’s mayor received a grant for over $5 million.

I’m so excited to announce that the @CityofMiami has received its first-ever disbursement from @mineCityCoins totaling $5.25M.

This is a historic moment for our city to collaborate with an innovative project that creates resources for our city through innovation not taxation.

— Mayor Francis Suarez (@FrancisSuarez) February 2, 2022