<br /><br /> <br /><br /> This article was originally published by 8btc and written by Lylian Teng.Some Chinese listed companies have jumped on the bandwagon of bitcoin mining following the bitcoin bull run throughout 2017, either under the guise of cloud computing or providing mining hosting services, in an effort to bypass regulations considering the country’s tough stance on bitcoin.A recent report indicating that Huatie HengAn, a subsidiary of Chinese publicly listed company Huatie, lost over $23 million for its secret bitcoin mining business has caused quite a stir among investors and triggered investigations from regulators.In this follow-up report, it’s apparent that more listed companies in China have been involved in cryptocurrency mining, though the country is considering a ban on this “wasteful” activity.Per a prospectus from leading bitcoin mining machine manufacturer Ebang, its second largest customer, an anonymous Xinjiang-based company, is very likely to be the aforementioned Huatie HengAn, as it fits all the description shown in the prospectus. It is worth noting that its largest client, Beijing Xincailiang Tech, is a subsidiary of Shenzhen-listed technical company Wholeasy. The firm contributed 17.7 percent of Ebang’s miner sales for the first half of 2018.Varied from Huatie HengAn, who apparently secretly mined bitcoin in 2018 under the guise of cloud computing, Xincailiang has built crypto mining farms overseas and offers miner host services. But public information shows Xincailiang is mainly engaged in case planning and big data traffic distribution in the field of mobile games in China.Partner?In August 2018, Wholeasy released an announcement that Mobcolor Technologies USA LLC, a subsidiary of Xincailiang, had reached a cooperation with California power supplier 3G Venture LLC and Singapore-based enterprise Vast Day Industry Trade Company PTE.Limited (VDIT) to “construct [a] mining center for digital cloud computing.”According to the agreement, 3G Venture could offer 100,000 square feet for Mobcolor with a rental cost of $18 million per year and 90 MW of power capacity at $0.055/kWh, and Mobcolor’s Chinese parent company bought 65,000 mining rigs from Ebang and then resold them to VDIT who entrusted the mining operation to Mobcolor. The Chinese company’s U.S. subsidiary charged VDIT $0.075/kWh and a $24 million rental fee per year.Having jumped on the bitcoin mining bandwagon amid the sluggish market in 2018, the company seems quite confident about the prospect of cryptomining.Predator?Indeed, Wholeasy is not the only Chinese listed company looking to build mines overseas.“A plurality of bitcoin mining farms in Iran and the Middle East are run by a company named RHY, which is a NEEQ-listed Chinese company,” a miner named Ma Jingguo said.According to its official website, RHY is a “large-scale blockchain mine.” It claims to be the largest mining company in the world, having a power supply capacity of 450 MW which could power up to 300,000 miners at the same time.“In 2016, the company has invested in the construction of large-scale substations and natural gas power stations in energy-rich countries dominated by the Middle East,” Ma said. “It has become the core blockchain data center with the most competitive electricity rates in the industry. As the majority of its mines are located in Iran, #MininginIran was first hyped by the company.”It is tough for Chinese companies to conduct bitcoin mining operations both at home and abroad, but they have advantages in capital, talent and other resources over bitcoin mining startups. Their only concern is to be compliant. In such a context, going overseas is a possible solution for them.Considering the country is tightening its grip on cryptocurrency, these ambitious companies are making big investments overseas in bitcoin mining, a process they believe could secure better returns than crypto pump-and-dump ploys. Will they become big players in the crypto industry in the following years?<br /><br /> <br /><br /> This article originally appeared on Bitcoin Magazine.
from Bitcoin news | Published News | Bitcoin news
via TOday bitcoin news
Subscribe to:
Post Comments (Atom)
☑️DO YOU WANT TO RECOVER YOUR LOST FUNDS ON BINARY OPTIONS AND BITCOIN INVESTMENTS??? OR YOU NEED A LEGIT HACKING SERVICE ?? TAKE YOUR TIME TO READ🔘
ReplyDelete☑️ The COMPOSITE CYBER SECURITY SPECIALISTS have received numerous complaints of fraud associated with websites that offers an opportunity to buy or trade binary options and bitcoin investments through Internet-based trading platforms. Most Of The complaints falls into these Two categories:
1.🔘 Refusal to credit customers accounts or reimburse funds to customers:
These complaints typically involve customers who have deposited money into their binary options trading account and who are then encouraged by “brokers” over the telephone to deposit additional funds into the customer account. When customers later attempt to withdraw their original deposit or the return they have been promised, the trading platforms allegedly cancel customers’ withdrawal requests, refuse to credit their accounts, or ignore their telephone calls and emails.
2.🔘Manipulation of software to generate losing trades:
These complaints allege that the Internet-based binary options trading platforms manipulate the trading software to distort binary options prices and payouts in order to ensure that the trade results in a Loss. For example, when a customer’s trade is “winning,” the countdown to expiration is extended arbitrarily until the trade becomes a loss.
☑️ Most people have lost their hard earned money through binary options and bitcoin investments, yet they would go to meet fake recovery Experts unknowingly to help them recover their money and they would end up losing more money in the process. This Is Basically why we (COMPOSITE CYBER SECURITY SPECIALISTS) have come to y’all victim’s rescue. The clue is most of these Binary option brokers have weak Database security, and their vulnerabilities can be exploited easily with the Help of our Special HackTools, Root HackTools And Technical Hacking Strategies because they wouldn’t wanna spend money in the sponsorship of Bug bounty Programs which would have helped protect their Database from Unauthorized access to their Database, So all our specialists do is to hack into the Broker’s Database via SQL Hook injections & DNS Spoofing, Decrypt your Transaction Details, Trace the Routes of your Deposited Funds, Then some Technical Hacking Algorithms & Execution Which we cant explain here would follow then you have your money recovered. 💰 💰 ✔️✔️
☑️All our Specialists are well experienced in their various niches with Great Skills, Technical Hacking Strategies And Positive Online Reputations And Recommendations
They hail from a proven track record and have cracked even the toughest of barriers to intrude and capture all relevant data needed by our Clients.
We have Digital Forensic Specialists, Certified Ethical Hackers, Software Engineers, Cyber Security Experts, Private investigators and more. Our Goal is to make your digital life secure, safe and hassle free by Linking you Up With these great Professionals such as JACK CABLE, ARNE SWINNEN, SEAN MELIA, DAWID CZAGAN, COSTELLO FRANK And More. These Professionals are Well Reserved Professionals who you can hardly get their audience EXCEPT you reach them through us or any Other Cyber Security Company.
All You Need to Do is to send us a mail and we’ll Assign any of these specialists to Handle your Job immediately.
☑️ Below Is A Full List Of Our Services:
* FUNDS RECOVERY ON BINARY OPTIONS AND BITCOIN INVESTMENTS
* WEBSITE HACKING
* CREDIT CARD MISHAPS
* PHONE HACKING (giving you Unnoticeable access to everything Happening on the Target’s Phone)
* CLEARING OF CRIMINAL RECORDS
* SOCIAL MEDIA ACCOUNTS HACKING
☑️ CONTACT:
••• Email:
composite.cybersecurity@protonmail.com
🔘2020 © composite cybersecurity specialists
🔘Want faster service? Contact us!
🔘All Rights Reserved ®️