US leads Bitcoin mining as China ban takes effect

Miners earn money by creating new Bitcoins, but the computing power needed to do it consumes large amounts of energy.

They audit Bitcoin transactions in exchange for an opportunity to acquire the digital currency.

Global mining requires enormous computing power, which in turn uses huge amounts of electricity, and consequently contributes significantly to global emissions.

The CBECI, which is produced by the Cambridge Centre for Alternative Finance, tracks the geographic distribution of computing power used for mining Bitcoin – receiving data from a number of commercial Bitcoin mining pools.

The latest data, which covers the four months to the end of August, suggests that most Bitcoin mining (35.4%) is now US based, with Kazakhstan (18.1%) second and Russia (11%) third.

Is Dogecoin Stabilising After the Latest Crash or Will It Drop Even Further?

Dogecoin has been the favourite cryptocurrency of the Internet in recent months, with wild rises in its price. But things changed after peaking around the start of this month, and it’s been in freefall since. However, although small drops continue (including fairly sharply in the last few hours) prices are starting to look a little more stable now, and are still high compared to the period before April this year.

Cryptocurrency: Musk’s SpaceX to launch dogecoin moon mission

SpaceX owner and Tesla CEO Elon Musk poses on the red carpet of the Axel Springer Award 2020 on December 01, 2020 in Berlin, Germany.IMAGE COPYRIGHTGETTY IMAGES
Elon Musk has said his rocket company SpaceX will now accept the meme-inspired cryptocurrency dogecoin as payment.

In a tweet he said the commercial space exploration firm will launch the “DOGE-1 Mission to the Moon” early next year.

It came as dogecoin continued to fall after the technology billionaire said on television that it was a “hustle”.

Last month, he tweeted that SpaceX was going to put a “literal Dogecoin on the literal moon”.