BITCOIN BOON: Bitcoin miners create coins by using powerful computers to solve mathematical puzzles. The number of coins that can be produced daily is fixed, so with fewer rivals, it is easier to mint new currency. Picture: Bloomberg/Paul Yeung
BITCOIN BOON: Bitcoin miners create coins by using powerful computers to solve mathematical puzzles. The number of coins that can be produced daily is fixed, so with fewer rivals, it is easier to mint new currency. Picture: Bloomberg/Paul Yeung

International bitcoin "miners" are reaping rewards from China’s effective ban on the energy-intensive practice, generating ever-higher profits by filling a vacuum in creating digital tokens left by former Chinese rivals. China launched a clampdown on crypto mining in June, part of a broader attempt to cut down on carbon emissions and a push against private cryptocurrencies as the country works on its own official digital coin.

Financial Times

(Air) Taxi!

Investors have poured an annual record $4.3bn into electric air taxi start-ups this year, as many hope to uncover "the next Tesla".

Funding was channelled through planned mergers with special purpose acquisition companies (Spacs), according to figures from McKinsey. Spacs list on stock markets and then go hunting for a target company to merge with. Funding for all types of future air mobility solutions, including drones, has soared 83% to more than $10.4bn in the past five years.

Financial Times

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