A $6 million Bitcoin mine in Texas' Channing is under the lens due to its links with China. A 23-year-old Chinese student named Jerry Yu, is the majority owner of the facility. A $6 million Bitcoin mine in Texas' Channing is under the lens due to its links with China. Through the mines, Chinese investors generate cryptocurrency like Bitcoin, which they can encash in US dollars on exchanges. The report also notes that Chinese investors may use the Channing mine to avoid the US banking system and federal regulations.

Source: Hindustan Times December 27, 2023 04:38 UTC