Marathon Digital Holdings, a global crypto-focused platform, announced that its mining operations for Kaspa have yielded approximately $15 million worth of KAS since they commenced last September. The company states that the decision to mine Kaspa was part of its strategy to diversify its mining operations. Marathon Mining Kapsa In the statement released on Wednesday,...Read More
A Bitcoin selloff may be looming as miners are facing increasing pressure due to a sharp decline in revenue following the April 20 halving which slashed block rewards from 6.25 BTC to 3.125 BTC. On May 13, crypto research firm Kaiko revealed that the recent halving cut the daily production from 900 to 450 BTC,...Read More
Marathon Digital Holdings (MARA), a prominent Bitcoin mining company, has reportedly mined an invalid Bitcoin block at height 809478. According to various developers, miners, and researchers, the invalid Bitcoin block resulted from a wrong transaction ordering. Anonymous Developer Exposes Transaction Ordering Issue The issue was first brought to light by an anonymous Bitcoin developer known...Read More
As crypto mining firms rapidly expand infrastructure ahead of the 2024 Bitcoin halving, the industry is also branching out into another growing tech frenzy: artificial intelligence. A report from JP Morgan on Thursday explained how mining businesses are now repurposing their infrastructure to provide high-performance computing services. Miners Pivot to AI As led by Nikolaos...Read More
Blackberry has detected several malware families that are being used to run massive campaigns for stealing crypto from devices. In the August edition of ‘The BlackBerry Global Threat Intelligence Report,’ the former titan of the smartphone industry found that finance, healthcare, and government are the top three industries with the highest distribution of cyberattacks. Malware...Read More
The President of the Kyrgyz Republic – Sadyr Japarov – has reportedly approved the building of a cryptocurrency mining farm at a hydropower plant near the country’s biggest river – the Naryn. The political leader believes this development will allow the hydroelectric station to use its excessive energy since it can not sell it anywhere....Read More
Binance’s service platform dedicated to improving the income of miners – Binance Pool – announced the launch of the Bitcoin Cash (BCH) mining service. The new offering leverages the FPPS settlement method. As part of the move, mining rewards will be automatically credited to users’ Funding Wallets by 10:00 (UTC) on a daily basis. According...Read More
Binance announced the launch of a new batch of Cloud Mining products for BTC mining in a statement on Wednesday. The exchange’s cloud mining service was released last November and enabled users without mining equipment to earn mining rewards from Binance Pool. Subscriptions, on the other hand, are required to buy hash rates and Bitcoin...Read More
Chip-manufacturing giant NVIDIA (NDVA) surpassed a $1 trillion market cap, bringing the company’s total value close to that of all cryptocurrencies in the world combined. The company’s stock opened at $405.96 on Tuesday, before rising as high as $416.39 by 9:50 am ET. The 6% pump marked a 52-week high for the company. Shares have...Read More
Most residents of McLouth, Kansas, reportedly criticized the potential construction of a cryptocurrency data center about a mile and a half north of the town. Their main concerns are that the facility will harm the local environment and be very loud. Not a Warm Welcome According to recent coverage, many residents of the small town of...Read More
The miner’s profitability could be harmed by the rising cost of mining blocks. Since the price of Bitcoin has been falling over the course of the year, from $46,000 to roughly $19,300, analysts estimated that the difficulty hike would reduce the miners’ profits by about 20%. Leading analytics company Glassnode issues a dire warning about...Read More
The Bank of Russia and the Ministry of Finance of the Russian Federation (MiFin) have agreed that crypto mining should be allowed only in certain areas. According to a new report by RBC-Crypto, Russian officials are preparing to legalize mining activity only in energy-rich regions and aim to ban the niche in energy-scarce ones. The...Read More
Poolin, the embattled crypto mining pool service provider, will offer freshly-minted IOU tokens to its users whose assets are frozen after the platform suspended withdrawals last week. The distribution of IOU tokens will be made today, the 15th of September. Poolin’s IOU Tokens The IOUs will be minted under the ERC-20 protocol on Ethereum, the...Read More
Ethereum, the world’s second-largest cryptocurrency, is all set to discard its energy-intensive proof-of-work consensus mechanism sometime next week. While ETH’s price could potentially decouple from other cryptocurrencies post Merge, staking yields is expected to catalyze institutional adoption, Chainalysis said in its latest report. On the other hand, it may be a difficult road for the...Read More
With the mining era slowly coming to an end, the world’s largest Ethereum mining pool – Ethermine – has launched a staking pool service for users. To become a validator on the Ethereum network, users must invest 32 ETH. But Ethermine’s new service, dubbed – Ethermine Staking – offers a workaround. It aims to let...Read More
Tokyo-based online financial services company SBI Holdings will shut down its crypto mining operations in Siberia, Russia. The company argued that the war between Russia and Ukraine is among the reasons behind this decision. Pullout From Siberia The pullout decision was taken in view of the geopolitical uncertainty due to the ongoing Russia-Ukraine war and...Read More
The hopes of miners of a recovery might have increased due to the increase in the price of the largest cryptocurrency by market capitalization. With BTC hovering around the $22,000 mark, the crypto market is trading in green with a change in sentiment. Bitcoin’s price increased from $367 billion on July 1 to $414 billion...Read More
US-based Bitcoin mining hosting service Compass Mining has become the latest company to reduce its workforce to survive and operate amid the ongoing cryptocurrency market downturn. In a letter to employees and investors on Thursday (July 7th, 2022), Compass Mining co-founders and interim CEOs Thomas Heller and Paul Gosker, said the firm “grew too quickly”...Read More
Compass Mining – a US-based mining service that hosts Bitcoin miners on behalf of clients – has recently announced that both CEO Whit Gibbs and CFO Jodie Fisher would be stepping down, effective immediately. The statement also informed users that CTO Paul Gosker and Chief Mining Officer (CMO) Thomas Heller would be taking over as...Read More
Gamers finally have something to smile about as the crypto bear market has resulted in a mining exodus and diminished demand for high-end graphics cards. Crypto Twitter is awash with images of stacks of GPUs being sold on second-hand markets, and prices for new and used units are starting to come down out of the...Read More
Proof-of-work (PoW) protocols have been under fire for years due to their massive energy consumption – particularly hurting the battle against climate change. The latest censure against the mining industry derived from the US Congressman Jared Huffman. He penned a letter to the Environmental Protection Agency (EPA) on Wednesday, requesting it to investigate and address...Read More
The U.S. government has just sanctioned the first cryptocurrency mining company, which also happens to be from Russia. This comes a day after the IMF warned that Russia could potentially evade economic sanctions by mining cryptocurrencies. On April 20, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned BitRiver, a cryptocurrency mining company...Read More
Intel’s new gaming chip is now available on laptops, and it’s being hailed by some in the crypto industry as a major disruptor to the cryptocurrency mining hash race. Here’s a short primer on Moore’s Law from Intel: “In 1965, Gordon Moore made a prediction that would set the pace for our modern digital revolution....Read More
Italian banking giant UniCredit has been asked to pay a fine of about $144 million for allegedly closing accounts belonging to a cryptocurrency mining company. UniCredit in Hot Water A district court in Banja Luka, Bosnia and Herzegovina, has ruled that UniCredit’s branch office in the country will pay a fine of €131 million ($144...Read More
The government of Kazakhstan identified 106 cryptocurrency mining farms that operate without the necessary licenses. The authorities halted 51 of them, while 55 ceased their operations voluntarily. The Latest Crackdown Earlier this year, Kazakhstan declared war on illegal digital asset mining farms. Minister Bagdat Musin claimed that they could negatively impact the nation’s energy network:...Read More
Individuals have been turning to small USB-based mining rigs, and some have been hitting the jackpot. These tiny miners have been growing in popularity, and solo mining pools have sprouted up to cater to the increasing number of individuals getting back into Bitcoin mining. According to a computer hardware outlet, Tom’s Hardware, one miner recently...Read More
An individual Ethereum miner who mined a complete block hit the jackpot by receiving 170 ETH for his efforts. Converted in USD value, the reward equals nearly $540,000 (calculated by the time when the block reward was mined). Beating the Odds Despite some people claiming that Ethereum mining (still being proof-of-work) is harmful to the...Read More
As a result of several police actions, the Kosovo authorities seized more than 300 cryptocurrency mining devices. According to the nation’s Minister of Energy and Economy, the seizure will save “tens of thousands of Euros per month.” Kosovo’s Ban Intensifies Similar to many other countries in Europe, Kosovo currently struggles with an energy crisis prompted...Read More
The Kosovar government reportedly enforced a ban on cryptocurrency mining in an attempt to curb electricity consumption during the coldest months of the year. The country, like many others in Europe, grapples with an energy crisis caused by the sharp price increase of electricity. Another Country to Halt Crypto Mining The small Balkan state –...Read More
Stronghold Digital Mining purchased over 9000 BTC mining rigs, which will allow it to add roughly 826 petahashes per second (PH/s) to its power generation facilities. The Pennsylvania-based company bought 9080 Bitmain and MicroBT mining rigs, as per an SEC filing on Monday. The announcement is part of Stronghold’s Q3 earnings release on Nov. 30,...Read More
