The government of China removed Xiao Yi – an official representing the Jiangxi province – from his post after he violated the country’s digital asset policies. According to the prosecution, he illegally supported some cryptocurrency mining businesses. China Sends a Strong Signal that Crypto Mining Is Forbidden A recent report by the South China Morning...Read More
The Ministry of Economic Development, the Ministry of Energy, and the State Duma want cryptocurrency mining in Russia to be a legalized business regulated as an entrepreneurial activity. However, the country’s central bank opposed such a move, citing the risks related to digital asset endeavors. Russian Crypto Mining Deserves “Respect And Regulation” According to a...Read More
The National Development and Reform Commission of the People’s Republic of China has seized 10,100 cryptocurrency mining rigs from a government-operated tech park in Inner Mongolia. The operation marked the 45th such confiscation in that province. China against Crypto Mining Just a few days after it once again reminded that dealing with digital assets is...Read More
Tavanir – Iran’s Power Generation, Distribution, and Transmission Company – revealed that the ban on cryptocurrency mining would be lifted as early as September 22nd. The country’s authorities would allow digital asset miners to restart their operations legally, hoping to see a decline in energy consumption by the end of summer. Crypto Mining Is Back...Read More
On-chain analytics provider, Glassnode, has detailed the current state of the Bitcoin network which appears to be fundamentally strong, despite the lethargic price action. Labeling it an “impressively quiet week” the company confirmed that volatility is diminishing as BTC remained range bound between roughly $34,900 and $32,500. “It is starting to feel like the calm...Read More
China’s crackdown on cryptocurrency mining has wreaked havoc on the Bitcoin mining industry, but some are looking to turn the crisis into business opportunities by offering profitable and sustainable alternatives in more cryptocurrency-friendly locations. The search for alternative sustainable Bitcoin mining solutions intensified after Tesla CEO Elon Musk announced that his company would stop accepting...Read More
Hive Blockchain Technologies Ltd, the cryptocurrency mining firm that went public in 2017, has purchased more than 3,000 mining devices. The machines, MicroBT WhatsMiner M30S, should increase the firm’s overall Bitcoin hash rate by nearly 50%. HIVE Buys 3,019 Miners The company announced its latest purchase in a press release on July 12th. The equipment...Read More
Ethereum’s hashrate has plummeted more than 25% since its peak level in mid-May. This is the direct result of China’s crackdown on cryptocurrency mining and the resultant exodus of mining operations. According to Bitinfocharts, the Ethereum network hashrate hit an all-time high of 585.5 TH/s (terahashes per second) on May 20. In the weeks that...Read More
Last year turned out to be a record-breaking one in terms of blocked computer cryptojacking attempts for cryptocurrency mining, reported the Russian cybersecurity giant Kaspersky. Although the firm noted it had stopped millions of cases, it also warned people about the potential threats. Cryptojacking in 2020 When an attacker gains unauthorized access to a computer...Read More
Over the weekend, Yunnan provincial authorities issued a notice ordering an investigation into the alleged illegal use of electrical power by individuals and companies involved in Bitcoin mining. According to a report from the China Securities Journal, the provincial energy department threatened to cut power to those caught using electricity for crypto mining. The SCMP...Read More
The antivirus company NortonLifeLock announced a new feature on its platform, named Norton Crypto. Its mission will be to enable customers to mine Ethereum in a safe and accessible way. Mining ETH In a recent announcement, the cybersecurity firm notified its nearly 13 million customers about a new service on its platform. Called Norton Crypto,...Read More
In a recent twitter spat many popular crypto figures came under one roof which led to a series of talks. It all started when Tesla CEO, Elon musk, announced withdrawal of BTC payment mode for Tesla car purchase. He raised concerns over BTC mining being not environmentally friendly. However, many criticized him as bitcoin price...Read More
Bitcoin mining company Riot Blockchain has decided to expand its mining capacity by purchasing 42,000 S19 Antimners from Bitmain, a Hong Kong crypto-mining products manufacturer. The purchase was worth at least $138.5 million and it’s part of the company’s plans to increase its Bitcoin mining hashrate, aiming at 7.7 EH/s by mid-2021 (an increase in...Read More
Bit Digital – a NASDAQ-listed company, is to face a class-action lawsuit. A recent report by J Capital Research alleged the Bitcoin mining firm in “fake cryptocurrency business.” Impossible to Operate 22,869 Bitcoin Miners in China Bitcoin mining company Bit Digital is facing a class-action lawsuit on allegations of fraud and misleading its clients. According...Read More
Iranian authorities have confiscated 45,000 bitcoin mining rigs that used subsidized electricity to mine the cryptocurrency. This is yet another considerable seizure in the Middle East country, which has experienced frequent blackouts that the government blamed on BTC mining. 45,000 BTC Mining Machines Confiscated In Iran Local media outlets reported that the police had seized...Read More
Mike Novogratz’s Galaxy is planning a significant leap into the Bitcoin mining sector. Galaxy Digital Mining will be the designated new fraction of the investment company. The upcoming project will reportedly focus on establishing a new business body aimed at providing financial services for miners. Delivering Financial Services to Miners According to an official press release,...Read More
The ongoing assault on money laundering in the Chinese telecoms and crypto industry has seen Bitcoin miners facing difficulties in paying electricity bills as banks freeze cards associated with cryptocurrency transactions. Three-quarter of Chinese Bitcoin Miners Can’t Pay for Electricity According to a local news outlet, in a tweet thread on November 16, 2020, Chinese...Read More
The Bitcoin network just went through the second-largest negative difficulty adjustment and its most significant one since the start of the ASIC era. The 16.05% decline exceeded previous expectations indicating a readjustment of somewhere between 7% and 10%. Record-Setting BTC Mining Difficulty Adjustment The mining difficulty on the Bitcoin network goes through an automatic adjustment...Read More
Recent data revealed that Ethereum miners have disposed of significant ETH holdings following the latest price jump towards $420. Additionally, the Twitter sentiment has turned rather bearish for the second-largest cryptocurrency after the consequent price drop. ETH Miners Initiate Sell-Offs? Ethereum miners, the lifeblood of the current proof-of-work consensus algorithm behind the Ethereum blockchain, have...Read More
Yesterday, the Bitcoin network witnessed approximately 22 exahashes per second (EH/s) exit the ecosystem, as noted by Hashr8’s Thomas Heller on Twitter. The self-professed “mining maximalist” also shared his estimation that we’ll see the BTC mining difficulty decline somewhere between 7.4% to 8.8% by the end of the week — a drop that, if true,...Read More
Filecoin’s history has been turbulent since its creation in the early days of the crypto-verse. But investors can probably agree that nothing resembles what happened last week. Filecoin Traders Had a Hard Week… Speculators are having a rough time. The token initially had a brief and sudden rise of more than 100% immediately after its...Read More
CEO and co-founder of Blockstack, Muneeb Ali published an earnings model in a blog today that outlined how STX holders can estimate potential earnings when Stacks 2.0 launches on mainnet. Ali added that Stacks 2.0 will continue to use the proof-of-transfer (PoX) consensus protocol, currently in use on its testnet version. Moreover, the POX algorithm...Read More
2020 has been a good year for Ethereum: Its price increased month after month, and its technological security is at a new peak now that its total hash rate is at ATH levels. The Ethereum hash rate is above 250 Terahashes per second for the first time in the blockchain history. This new record comes...Read More
In August 2020, Token Market was excited again with the presence of a token that uses the Ethereum ERC20 Protocol which builds self-government in the Smart Contract and the formation of the ecosystem itself in the Smart contract, this token is named YFI. Yearn.finance and the presence of YFI has made Uniswap V2 Exchanger is...Read More
The Mining industry in Venezuela now has its own regulatory framework. The National Superintendence of Cryptoactives and other Related Activities published on Monday the “Providence that regulates the activities related to the use, import, commercialization of Digital Mining equipment.” The legal instrument appeared in Official Gazette No. 41,969 and is already in effect. It would...Read More
The latest news coming out of Iran points to growing support for Bitcoin and cryptocurrency miners in the country. Miners will now have access to the electricity output from three power plants to mint digital assets, courtesy of Iran’s Thermal Power Plant Holding Company (TPPH). Tender For Bitcoin, Crypto Miners To Leverage Output of 3...Read More
A former employee of CSIRO – the Australian Commonwealth Scientific and Industrial Research Organisation, has avoided prison after being caught using a supercomputer at work for mining cryptocurrencies. Jonathan Khoo, 34, worked as a contractor at the federal government’s scientific research agency. Generating $6,897 Worth Of Ethereum and Monero As per a recent news report, between January...Read More
Russia’s On Digital Financial Asset (DFA) legislation has received yet another set of proposed amendments that can push the country into launching a full-scale ban on cryptocurrency usage, with three exceptions – inheritance, bankruptcy, and enforcement proceedings. Russia’s DFA Sees New Propositions The world’s largest country by landmass has been rather indecisive, to say the...Read More
Joseph Frank Abel has pled guilty regarding his involvement in the notorious Bitcoin mining scheme BitClub Network worth over $700 million. The development follows the alleged owner’s arrest in June and a Romanian programmer also admitting to his participation in July. Another BitClub Operator Pleads Guilty According to a statement from the US Internal Revenue...Read More
Kazakhstan’s new Digital Development Minister, Bagdat Mussin, has reportedly asserted that the country is already in talks to attract a significant investment worth over $700 million to expand the cryptocurrency mining sector in the Central Asian nation. Kazakhstan Aims For $700M Investment For Crypto Mining The plans for attracting 300 billion tenges ($715 million) of...Read More
