Kuala Lumpur: Bitcoin price has dropped to US$38,000 from a high of US65,000 and there is a new rush for block mining in Malaysia!
The crash of Bitcoin price is linked to a crackdown by authorities on cryptocurrency miners in China, say some news reports.
China’s crackdown has made it less difficult to mine bitcoin, says DNA. The digital portal says when it is easier for blocks to be mined, it raises profits for the miners.
As a result, Malaysians appetite for mining has been answered, says the portal, quoting Harpreet Singh, Blocklime founder and CEO.
The latter says Malaysia is now among the top 5 miners based on a study done by the Cambridge Centre for Alternative Finance at the University of Cambridge.
