The international energy company, Equinor plans to repurpose gas flaring from U.S oil fields to support Bitcoin (BTC) mining, according to a new report from Arcane, a cryptocurrency market research hub. Arcane Research said that it received screenshots from Equinor’s blog that detailed the company’s plans to use natural gas, instead of flaring it, in...Read More
In the past six months, the pandemic has gripped the world economy. Companies are going out of business, governments and banks have bleak projections for 2020-21 and are comparing the current financial meltdown to the great depression. Despite this, it has played out counterintuitively for the global financial markets. S&P 500 broke records hitting an...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
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 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
The future of Bitcoin mining during the coronavirus remains in question. Not all countries deem these operations “essential” or “non-essential”, raising a lot of questions. Most Bitcoin mining firms appear to be trucking along nicely. What Comes Next for Bitcoin Mining Operations? How long that situation will remain in place, is a different matter altogether....Read More
The global impact of the coronavirus crisis should never be underestimated. Even in the Bitcoin mining industry, there are some shockwaves, albeit not everyone is affected in the same manner. A very interesting set of events has taken place in recent weeks. Bitcoin Mining is Still in a Good Place First of all, there is...Read More
The global impact of the coronavirus crisis cannot be underestimated. It now even seems that the Bitcoin mining industry may face some challenges moving forward, in the eyes of Riot Blockchain. Bitcoin mining requires a set of specific conditions to be met. Riot Blockchain is Concerned As those conditions align, the profitability of the venture...Read More
You might have heard about the cryptocurrencies, namely Bitcoin. Many people go on and on about it and bitcoin mining. Let’s understand some basics about how it works so that you can understand the model. The way we perceive, process, and verify the information has been changed by the Blockchain. The applications of the concept...Read More
Revolutionary technologies are inherently controversial. This was proven true just this week when the CEO of Ripple Labs, Brad Garlinghouse, bashed Bitcoin and Ethereum in a direct tweet, sparking discourse. The reason? Garlinghouse thinks that the cryptocurrencies’ mining mechanism, which sees miners contribute computational resources to secure the blockchain, is wasteful and a threat to...Read More
Cryptocurrencies have become one of the most popular trends over the past years. And the subject continues to attract the attention of both ordinary enthusiasts and those who want to capitalize on it. What should a beginner know to earn enough money to pay off all the loans? How can even an ordinary student make...Read More
Proof of Stake (PoS) and Proof of Work(PoW) are the two common types of consensus mechanism, which is a vital aspect of blockchain technology. Consensus mechanisms are critical to the operation of distributed ledgers- the fundamental element of the blockchain technology, allowing it to operate without a central authority. The primary role of the consensus...Read More
Ousted Bitmain co-founder, Micree Zhan, has come out to oppose Bitmain’s plan to layoff about 50% of its workforce. According to Zhan, the Bitcoin (BTC) mining giant’s plan to sack employees was a mistake, given that the company was in a healthy financial situation. Earlier in January 2020, reports emerged that the Bitmain was planning...Read More
On January 1, the BTC network hashrate touched an all-time high at close to 120 exahash per second (EH/s). Despite the crypto market lull and lower BTC prices, the 2020 milestone happened just before the blockchain’s 11th anniversary. BTC’s curious jump in hashrate has the cryptosphere wondering whether or not the price truly follows hashpower....Read More
With the dry season approaching, Bitcoin miners in China’s Sichuan province may be forced to reduce their electricity consumption. Prioritizing Communal Electricity Needs Over Crypto Miners According to Asia Times, authorities in Sichuan Province, China, are reportedly leaning on Bitcoin miners to cut down electricity consumption. This news comes amid the dry season in Southwest...Read More
Regional authorities in the province of Sichuan are reportedly pressuring bitcoin miners to scale down operations amid electricity shortages during the dry season in Southwest China. A meeting has been scheduled with regulators, the state run grid operator and mining companies. Two hydropower stations have been fined already for powering bitcoin farms without authorization. Also...Read More
Many are pinning their hopes on next year’s bitcoin halving as the catalyst for another bull rally. There may be wider issues at large though, especially with regards to bitcoin mining. Bitcoin Halving 141 Days Away The countdown continues to bitcoin’s halving which has now been estimated on May 14, 2020. The widely anticipated event...Read More
According to recent estimates, bitcoin mining in 2020 is expected to take off at an explosive pace. Miners are predicted to mine around $3 billion worth of BTC as per the coin’s current price. Bitcoin mining has always been a crucial part of the BTC network. Mining involves validating transactions, adding blocks to the blockchain,...Read More
High-powered bitcoin miners and next-generation semiconductors go hand in hand and as process node technology grows, SHA256 hashrate follows. Coinshares’ recent bi-annual mining report highlights that newly introduced mining rigs have “as much as 5x the hashrate per unit as their generational predecessors.” Advanced chip technology has grown relentlessly and it’s significantly bolstered ASIC device...Read More
Bitcoin miners held a stunning competition in 2019, lifting both the hashrate and difficulty to all-time highs. But it turns out for significant stretches, mining pools absorbed serious losses. Bitcoin Miners Undeterred by Falling Prices Most of the big miners this year produced coins at a loss due to unfavorable market prices. But this did...Read More
Chinese Bitcoin miners have extended their share of the global hash rate. Currently, they control two-thirds of Bitcoin’s processing power, Reuters reported yesterday, citing a research by CoinShares. Chinese Share of Bitcoin Hashrate Highest Since At Least 2017 Currently, Chinese miners control 66% of Bitcoin hashrate. The indicator refers to the Bitcoin-related computing power that...Read More
Bitmain is looking to establish a significant presence as it partners with two Bitcoin mining consulting firms. Meanwhile, co-founder Jihan Wu continues to consolidate his hold on the company amid an ongoing power struggle. Bitmain Partners with Bitcoin Mining Consultants in South America In a press release published on Thursday (December 12, 2019), Bitmain announced...Read More
Known as digital gold, Bitcoin (BTC) is the most well-known cryptocurrency. Since the moment the Bitcoin network came into existence back in 2009, this crypto coin already had a value associated with it. But how are new coins generated? Bitcoin mining is the computational process that solves mathematical calculations to verify transactions in the network...Read More
Utilizing stranded gas to power bitcoin mining rigs at oil and gas wells is a promising business opportunity. It is profitable for all participating parties and beneficial for the environment. Not without challenges, this young industry is growing in energy-rich North America. Several companies are working to expand the niche and U.S.-based EZ Blockchain shared...Read More
Bitmain, the world’s largest maker of bitcoin mining equipment, has been named the third hottest startup to work for in China. | Source: Shutterstock China has held the crown for being the home of some of the largest makers of bitcoin mining equipment for years now. According to LinkedIn, one of these bitcoin mining rigs...Read More
Hive OS is the ultimate mining management platform which provides a more efficient administration of a large mining farm. Hive OS is free with firmware Hiveon ASIC while the Hiveon Pool is the most profitable and efficient mining pool. Hive OS is a mining platform which allows for the easy setup and overseeing of all...Read More
Bitcoin’s blockchain produced new historic records this week as the cryptocurrency’s technical health increasingly contradicts its lower price. Bitcoin Hashrate Hits 83 Quintillion As data from monitoring resource and wallet provider Blockchain.com confirms, it was Bitcoin’s 00 hashrate leading the charge, hitting 83.5 quintillion hashes per second on August 29. That number is BTC’s best...Read More
Photo: Shutterstock However, it shows that most of the profitability has been gathering around the last three years, where Bitcoin had reached both its most profitable and its most unprofitable price point. Although the largest fall was to somewhere around $3000 it needs to be considered that hash rate and mining complexity were up and...Read More
Hut 8, one of the largest public Bitcoin mining farms by operating capacity, has released its financial report for the second quarter of 2019. The mining firm recorded a tremendous surge in its net profit and overall revenue for Q2, with the net profit for the firm reaching $33.7 million Candian dollars while the overall...Read More
A bitcoin stock listed on the London Stock Exchange has soared by 300 percent to hit its 11-month high.Shares of UK-based Argo Blockchain PLC (LON: ARB) today established a year-to-date peak of $10.96, bringing its maximum yearly gains close to 328 percent. At its weakest, the stock was trading at $2.54 in February 2019, down...Read More
