A monitor shows trading prices for bitcoin and cryptocurrencies in Hong Kong, September 25, 2021. Photo:  EPA-EFE
A monitor shows trading prices for bitcoin and cryptocurrencies in Hong Kong, September 25, 2021. Photo: EPA-EFE
Bitcoin

Beijing court rules bitcoin mining contracts ‘invalid’, advises local governments to shut down remaining farms

  • The Beijing-based plaintiff paid 10 million yuan (US$1.6 million) for the deployment of mining machines in Sichuan province, but failed to recoup its investment
  • In May 2021, China’s State Council announced a crackdown on bitcoin mining, on top of the then existing ban on cryptocurrency trading

A monitor shows trading prices for bitcoin and cryptocurrencies in Hong Kong, September 25, 2021. Photo:  EPA-EFE
A monitor shows trading prices for bitcoin and cryptocurrencies in Hong Kong, September 25, 2021. Photo: EPA-EFE
READ FULL ARTICLE