Inside The World Of Chinese Bitcoin Mining

China is one of the main exchange markets and hosts some of the biggest Bitcoin ‘mining pools’ in the world.

Bitcoin is a virtual currency devised by the mysterious Satoshi Nakamoto as a revolutionary monetary system independent of central banks and governments.

The currency is booming as an investment asset and form of payment in China, Japan and South Korea. The value of one Bitcoin exceeded $12,000 in January.

China is one of the main exchange markets of Bitcoin, although the currency exists in a legal limbo and is prone to speculation.

The country hosts some of the biggest “mining pools” in the world where clusters of supercomputers mint new Bitcoins and maintain the system. Some of these supercomputers are installed in rural places close to power plants.

read more at aljazeera.com

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