How the Long Tail of the Coronavirus Might Slow Bitcoin’s Hash Power Growth
The shortage of new mining machines caused by the coronavirus outbreak could curb computing power growth from Chinese miners who contribute over 65% of Bitcoin’s hash power.
Canaan
The board of directors of bitcoin mining manufacturer Canaan approved a buyback program Monday for its lagging shares.
Sources speaking to Chinese media said a dispute at Canaan Creative has led to a power grab by now-Executive Director Nangeng Zhang.
Former directors of Canaan Inc. are investing in the Shanghai firm and will help launch its new mining subsidiary.
Shares of Canaan Creative, one of the few publicly traded crypto miner manufacturers, fell below $2 Monday, their lowest after going public last year.
The China-based manufacturer had cut the pricing for its bitcoin miners by half during the first three months.
Canaan
