The inside story of one of China’s last bitcoin mining tycoons

A Chinese crypto mogul who says he was once responsible for nearly 10 percent of all bitcoin mining in the world is opening up about how China’s crackdown has decimated his business. 

A 40-year-old businessman named Liu Weiman, who spoke to news Web site Caixin (paywall) under a pseudonym, operated more than 10 bitcoin farms in China’s Sichuan province that would mine 70 to 80 bitcoins per day during peak seasons.  About 900 new bitcoins are issued each day globally, meaning Liu was responsible for up to 8 to 9 percent of all bitcoins being mined, according to Caixin.