Why the biggest Bitcoin mines are in China – China’s latest business and technology news
Business & Technology
A summary of the top news in Chinese business and technology for October 13, 2017. Part of the daily The China Project newsletter, a convenient package of China’s business, political, and cultural news delivered to your inbox for free. Subscribe here.
Ieee.org, which describes itself as “the world’s largest technical professional organization for the advancement of technology,” has published an article titled “Why the biggest bitcoin mines are in China,” mostly based on a visit to a computer facility in Inner Mongolia owned by a company that has manufactured about 70 percent of all the world’s computers that do calculations to “mine” bitcoin.
Why? Cheap, coal-fired electricity, and access to cheap chips.
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Cryptocurrencies
Challenging China: Taiwan supports mainstream adoption of ICOs and Bitcoin / Coin Telegraph -
Fintech
Bitcoin prices rise above $5,000, without China / Forbes -
Labor
Minimum wages on the march in China as labour pool shrinks / SCMP -
Selfies
How Casio is selling $900 selfie cameras in China / The Verge -
Auto industry
Mercedes-Benz, JVs to recall over 350,000 vehicles in China: watchdog / Reuters -
Airports
China Southern breaks ground as new Beijing airport takes shape / Caixin -
Mobile payments
Alipay overseas transaction grew by eight times over National Holiday Golden Week / TechNode -
Drones
Chinese farmers turn to crop-dusting drones / Caixin
