Analysis Daily TheBitTimes.com

Arizona Senator Wendy Rogers had introduced a bill in January that would make Bitcoin legal tender in the state. It was one of the proposed moves to make the king of cryptocurrencies a legal tender in the state. The proposed legislation, SB 1235, aims to make an amendment to Chapter 9 regarding the legal tender accepted by the state. The bill outlines the types of currencies that are recognized as legal tender in the state. This also includes the addition of Bitcoin to this important list. Also read: Shiba Inu (SHIB) Lead Dev Says He is Moving a Few Chess Pieces: Surprise Update? In one of the recent reports by Bloomberg, it has come to light that Arizona Governor Katie Hobbs blocked a bill that would remove taxes on Bitcoin mining . JUST IN: Arizona Governor Katie Hobbs blocks bill that would remove taxes on #Bitcoin mining. — Watcher.Guru (@WatcherGuru) April 13, 2023 Arizona Governor Katie Hobbs Vetoes the bill According to the latest news, Arizona Gover...

Crypto mining firm Canaan expects its annual RMB-denominated revenue to drop less than 15% despite the crypto market cap plummeting 70% in 2022. Cryptocurrency mining giant Canaan continues to generate significant revenues from crypto operations despite the ongoing crypto mining crisis. Canaan’s total revenue for the first nine months of 2022 was roughly 4 billion Chinese yuan (RMB), or about $573 million, a spokesperson for Canaan told Cointelegraph. As the firm expects to generate another 310 million RMB ($46 million) in Q4, the total annual revenues is expected to amount to 4.3 billion RMB ($619 million). The amount is down around 14% from Canaan’s RMB-denominated revenue of 4.9 billion RMB last year. In USD, the total revenues were down about 21% from $783 million in 2021. Canaan’s 2022 annual revenues would still be significantly bigger than in previous years, surging nearly 90% from 448 million RMB ($64 million) in 2020. In 2019, Canaan’s annual revenue amounted to 1.4 billion R...