Daemon Technologies, a firm based in Hong Kong, will now drive the adoption of Stacks technology to support cryptocurrency mining communities in Asia according to its launch tweet. Excited to announce my next chapter in the @blockstack and #stacks ecosystem! https://t.co/JRdZPeDwhi — Xan Ditkoff (@XanDitkoff) August 31, 2020 The firm stated that Asian mining communities were...Read More
Recent data indicated that the HODLing mentality towards Bitcoin prevails as the number of coins that haven’t moved in two or more years has reached a three-year high. At the same time, miners are following suit as their BTC holdings have reached a two-year high. HODLing Mentality Among BTC Investors Prevail The analytics firm Glassnode...Read More
Money attracts money, and Barry Silbert, CEO of Digital Currency Group, knows it. His company has already established itself as one of the most influential corporations in the entire crypto ecosystem. Today, it announced a new venture that will expand its reach into a whole new frontier: the crypto mining industry. In a recently issued...Read More
A new report indicated that East Asia remains the most active cryptocurrency market with the most significant number of daily transactions. At the same time, professional traders still account for most of the trading volume, while stablecoins, and especially Tether (USDT), have gained a massive market share. East Asia Dominates Crypto Trading Market According to...Read More
Bitcoin mining as an industry has evolved over the years as BTC’s price has. From being able to mine BTC using CPUs to GPUs, FPGAs, and ASICs, the industry has matured with the current hashrate at 124 TH/s with difficulty at 16.8 T [trillion]. Before the 3rd halving, the price suffered a catastrophic crash in...Read More
Ethereum has not only surged to its highest price for over a year, it has tapped milestone highs in other on-chain metrics as well. Today is the network’s 5th anniversary. Hash Rates at 20-Month High ETH 1.0 is still proof of work, which means there are still miners seeking profits by producing more blocks. Mining...Read More
There has been very little action on crypto markets over the past 24 hours. The majority of high cap coins are cooling off again following minor movements over the weekend. Bitcoin is no exception, remaining range-bound as the tedium continues. BTC managed to top $9,300 again a few hours ago but has since declined back...Read More
One out of four men, alleged in a $722 million Ponzi scheme, has pleaded guilty on his charges before а U.S. District Judge. The Romanian programmer Silviu Catalin Balaci, 35, faces a penalty of prison and a fine for a long-running cryptomining fraud with partners. Defrauding Investors Of More Than $722M Balaci was arrested earlier...Read More
Authorities of Chinese city Bayan Nur issued a warning on Sunday after a reported case of bubonic plague. The city is located in the autonomous region Inner Mongolia – one of the world’s most attractive regions for Bitcoin miners. Germ Behind Bubonic Plague Killed a Third of Europe’s Population Bayan Nur’s health committee issued a...Read More
Recent data indicates that Ethereum miners prefer holding their mined coins and have increased their balance in the past few weeks. At the same time, the number of ETH addresses containing from 100,000 to 1,000,000 coins have jumped by nearly 5% in June alone. Ethereum Miners HODL Because of the current proof-of-work consensus algorithm that...Read More
Bitcoin Cash proponents have been introduced to a new project built using the Simple Ledger Protocol (SLP) framework called mistcoin (MIST). The new token is essentially the first mineable implementation of colored coins on Bitcoin Cash. Mist allows participants to mine the SLP tokens “using proof-of-work to help decentralize allocation of newly minted tokens.” It...Read More
The Bitcoin hash rate appears to be migrating west after the percentage of BTC mining taking place in the United States increased by 78%, leading into 2020. That’s according to the latest data from the Cambridge Center for Alternative Finance (CCAF), presented in a report by TokenInsight, which shows the US-based Bitcoin hash rate rose...Read More
Bitcoin mining has changed a great deal since the block reward halving on May 11, 2020, and the overall SHA256 hashrate has been between 100-120 exahash per second (EH/s) during the last 48 hours. Reports from China show that a number of small mining operations are struggling and older bitcoin mining machines are becoming useless....Read More
According to an analysis by the popular blockchain data company Glassnode, Bitcoin miners are selling a lot less at the current price rate. While this might look like a positive sign at a glance, it might also suggest that the current rate simply doesn’t satisfy their profitability criteria. Bitcoin Miners Selling Less Data from the...Read More
China-based bitcoin miners have started to migrate southbound from North China, according to local reports. The operators are having difficulties and are transitioning mining facilities for cheap hydro-powered electricity. Testimonials also show that 64 mining operations in the prefecture in Yunnan have been threatened by local authorities. Sources say a hydropower station discharge sparked a...Read More
Recent Chinese reports informed of hidden Bitcoin mining rigs stealing electricity in the northern city of Daqing. Interestingly, the perpetrators were concealing their operation under two mysterious grave mounds in a relatively empty field. BTC Mining Operations In Hiding According to the recent report, a Chinese oil field company sent a tip to local police...Read More
Popular Bitcoin proponent and educator Andreas Antonopoulos believes that the current drops in oil prices will benefit some BTC miners. In a video on his YouTube channel, he outlined that miners in the recently opened Bitmain facility in Texas could be the biggest beneficiaries. Oil Prices To Affect BTC Mining The sudden outbreak of the...Read More
Iranian President Hassan Rouhani has called for a mining strategy throughout the oil-rich nation. The latest statements from the Iranian President follows Iran’s moves to restrict specific crypto trading platforms over “currency smuggling” mandates. On May 20, 2020, Iran’s President Hassan Rouhani told the press that the country needs to spur a cryptocurrency mining strategy,...Read More
New information suggests that local government authorities in the Chinese province Sichuan are seeking to ban cryptocurrency mining operations in the region. Contrary, sources familiar with the matter claim that these notices are misunderstood, and crypto mining will not suffer major negative consequences. A Region In China Clamps Down On Crypto Mining? The story began...Read More
Bitcoin’s halving finally took place at block 630,000 on May 11th, 2020. Like many cryptocurrency enthusiasts and market participants pointed out, the block countdown felt much as if it’s New Year’s Eve. However, it’s already behind our backs, and the price has managed to add another $1,000 to it since then. In the four short...Read More
Bitcoin’s hash rate has decreased by 32% in the past few days as the revenue generated by miners is also substantially less following the halving. This is one of the biggest corrections in history, and it might pose certain security challenges for the network. Bitcoin Hash Rate Drops 32% Bitcoin’s hash rate decreased dramatically in...Read More
On Monday, Hut 8 Mining reported that first-quarter revenue rose 5% to $9 million from $8.59 million a year ago after the amount of bitcoin (BTC) extracted plunged sharply. Quarter-on-quarter, revenue fell 14%. For the three months to March 31, 2020, the Canadian bitcoin firm said it mined 1,116 BTC, down 54% from the 2,405...Read More
The median confirmation time for transactions with miner fees to be included in a mined block and added to Bitcoin’s ledger has decreased substantially on the day that the halving is estimated to take place. If the rate continues as it is, the event will take place a few hours sooner than expected. 10 Blocks...Read More
The Chinese ASIC mining rig manufacturer Bitmain reportedly pulled in $300 million in revenue during Q1 2020. Meanwhile, as Bitmain claims to be regaining market share, the firm Ebang recently applied with the U.S. Securities and Exchange Commission (SEC) for initial public offering (IPO) status. However, the prospectus sent to SEC shows that while Ebang...Read More
There are always some interesting developments taking place within the cryptocurrency industry. Bitcoin’s network saw an influx of 16 network blocks in 63 minutes, which is a strong deviation from the average. The Bitcoin network is subject to some very strict rules and time frames. An Anomaly in the Bitcoin Block Production On average, one...Read More
Bitcoin intelligence, data, and analytics firm Glassnode found the Bitcoin hash rate hit a new all-time high over the weekend, ten days before the Bitcoin halving event. In other words, miners are putting more computational power into maintaining the Bitcoin network. Because miners must venture electricity and capital intensive computer processors to mine Bitcoin, the...Read More
Bitcoin mining chip maker Ebang International Holdings Inc. is seeking to raise up to $100 million through an initial public offering (IPO) in the U.S. The Chinese company will sell Class A ordinary shares of nominal value HK$0.001 (US$0.00013) per share if its IPO filing is approved. In a filing with the U.S. Securities and...Read More
Bitcoin mining hardware manufacturer Ebang International Holdings has become the latest mining chips company planning to get listed on a major stock exchange via an Initial Public Offering (IPO) in the United States. Ebang Files $100M IPO In The US The China-based firm has applied with the US Security and Exchange Commission (SEC), so it...Read More
The chairman of the Russian State Duma Committee on Financial Markets has confirmed that the bill which provides the regulatory framework for cryptocurrencies in Russia has been completed. The official explained key features of the bill, including how cryptocurrency exchanges and miners will be regulated. However, the bill’s adoption has been delayed due to the...Read More
The latest steep declines in Bitcoin’s price have pushed miners to switch off some of their equipment to reduce costs. Consequently, this slowed down the average daily block time by as much as 70%. Miners’ Response To The Price Drop Miners are the backbone of Bitcoin and any other Proof-of-Work-based cryptocurrency. They create new bitcoins...Read More
