{"id":6736,"date":"2021-07-26T16:24:32","date_gmt":"2021-07-26T15:24:32","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=6736"},"modified":"2021-07-26T16:24:41","modified_gmt":"2021-07-26T15:24:41","slug":"chinese-bitcoin-miners-and-crypto-firms-donate-to-flood-victims-in-henan","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/chinese-bitcoin-miners-and-crypto-firms-donate-to-flood-victims-in-henan\/","title":{"rendered":"Chinese Bitcoin miners and crypto firms donate to flood victims in Henan"},"content":{"rendered":"\n
Cryptocurrency firms and Bitcoin miners i<\/a>n China have come together to support families in Henan. The area was previously hit by a devastating flood.<\/h5>\n\n\n\n
\"Chinese<\/figure>\n\n\n\n

Despite the Chinese crypto crackdown, enterprises that had to relocate their operations due to the massive mining migration have turned to the Chinese crypto community for assistance\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>.<\/p>\n\n\n\n

Colin Wu, a Chinese journalist, posted a photo of a truck laden with generators and food donated by BTC miners for Henan locals. Posters on the truck expressed miner dissatisfaction with the Chinese government as well as sympathy for Henan.<\/p>\n\n\n

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Black humor from Chinese Bitcoin miners: We don't have electricity, but the disaster area must have electricity. (The picture shows the Chinese Bitcoin miners donating generators and food to the flood-stricken areas in Henan. Previously, China's large Bitcoin mines were stopped\uff09 pic.twitter.com\/NwJPdKCWeZ<\/use><\/svg><\/span><\/a><\/p>\n

\u2014 Wu Blockchain (@WuBlockchain) July 26, 2021<\/use><\/svg><\/span><\/a><\/p>\n<\/blockquote>\n\n\n

Aside from bitcoin miners, three prestigious blockchain and cryptocurrency firms have also donated significant sums to the Henan province.<\/p>\n\n\n\n

On July 23, Bitmain, a crypto mining company <\/a>and one of the world's largest producers of crypto mining rigs, became the first organization to contribute more than 10 million yuan.<\/p>\n\n\n\n

Following China's crackdown on bitcoin mining, Bitmain, among other crypto companies, was damaged.<\/p>\n\n\n\n

As BTC miners began to relocate, Bitmain's antminer equipment spot sales were halted internationally and reselling of second-hand mining units skyrocketed. However, the corporation has announced that production will resume.<\/p>\n\n\n\n

\u201cThis is just what we should do.\u201d, Bitmain shared in an interview on 24th July.<\/p><\/blockquote>\n\n\n\n

Following Bitmain's lead, the Hong Kong-based FTX crypto exchange gave over 10 million yuan to the Zhengzhou charitable federation and publicised the news on Weibo.<\/p>\n\n\n\n

FTX has escaped the brunt of the Chinese crypto crackdown, unlike its competitors Binance, Huobi, and OKex, who have all been barred from operating in the country.<\/p>\n\n\n\n

Ant Group, the Antchain creator, also donated 100 million yuan via Alipay<\/a>, and announced the donation on Weibo, just like FTX. The Ant Group said that it will purchase flood-prevention equipment and supplies to assist frontline volunteers in Henan province.<\/p>\n\n\n\n

Weibo users have expressed their support and gratitude for these organizations, praising them for their efforts in developing “political awareness.”<\/p>\n","protected":false},"excerpt":{"rendered":"

Cryptocurrency firms and Bitcoin miners in China have come together to support families in Henan. The area was previously hit by a devastating flood. Despite the Chinese crypto crackdown, enterprises that had to relocate their operations due to the massive mining migration have turned to the Chinese crypto community for assistance . Colin Wu, a […]<\/p>\n","protected":false},"author":12,"featured_media":6738,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83,26,21],"tags":[754,1789,132,1787,1788],"class_list":["post-6736","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","category-cryptocurrencies","category-news","tag-bitcoin-mining","tag-chinese-bitcoin-miners","tag-crypto","tag-flood-victims","tag-henan"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/07\/Chinese-Bitcoin-miners-and-crypto-firms-donate-to-flood-victims-in-Henan.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/6736","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=6736"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/6736\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/6738"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=6736"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=6736"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=6736"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}