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BITCOIN PRICE: 6,587.21     HIGH: 6,765.00     LOW: 6,558.95

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Tag: bitcoin mining

Could This Be the End for Bitmain?

Category: Altcoins, Bitcoin, Mining, News, Tech

Could This Be the End for Bitmain?

It has not been a good year for cryptocurrency mining manufacturing giant Bitmain, as the company is suffering from inventory losses, a lack of new manufacturing and the dwindling crypto mining market, a Bloomberg report on 18 September 2018, revealed. Bitmain Forgot the Rule for Selling Shovels The world’s largest cryptocurrency mining rig maker is facing a tough year, as…

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Bitcoin Drops to One-Month Low as Silk Road Wallet Cashes Out: BTCManager’s Week in Review

Category: Altcoins, Bitcoin, Blockchain, Development, Exchange, Investment, Mining, News

Bitcoin Drops to One-Month Low as Silk Road Wallet Cashes Out: BTCManager’s Week in Review

The price of bitcoin dropped by 12 percent week-on-week after a Silk Road-related wallet holding 111,114.615 BTC and BCH, among other forks, – worth over one billion dollars – moved coins for the first time in four years, which many took as a sign that the wallet holder was about to cash out. Reddit user sicksilk, who discovered the whale’s…

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Washington State Utility Increases Power Rates for Bitcoin Mining

Category: Bitcoin, Blockchain, Mining, News, Tech

Washington State Utility Increases Power Rates for Bitcoin Mining

Due to Grant County’s lower power cost that comes from the local hydroelectric plant, many cryptocurrency mining operations have flocked to Washington state. However, their luck is bound to change as the Grant County Public Utility District (PUD) recently announced a rate hike for electricity used by cryptocurrency mining farms by as much as threefold, the International Business Times reported…

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Soluna Bets Big on Offsetting Bitcoin Energy Consumption

Category: Bitcoin, Business, Mining, News

Soluna Bets Big on Offsetting Bitcoin Energy Consumption

As Bitcoin mining operations ramp up worldwide the electrical cost of mining is drawing the ire of municipalities and environmental groups alike. However, Soluna is looking to offset the carbon footprint of mining Bitcoin through its wind power plant in the Sahara Desert. Wind-Powered Mining Current estimates put bitcoin mining power consumption at around 2.55 gigawatts, which means that the network…

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Research: Bitcoin Mining Operations Use Far Less Energy Than Banks

Category: Altcoins, Bitcoin, Mining, News

Research: Bitcoin Mining Operations Use Far Less Energy Than Banks

At a time when bitcoin antagonists have not stopped criticizing the world’s flagship digital currency for its high power consumption, The Conversation, a nonprofit academic news source has published a report on August 20, 2018. In the article, University of Pittsburgh energy technology researcher Dr. Katrina Kelly Pitou explained why bitcoin mining activities pose less harm to the environment than…

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Cryptocurrency Mining Firm Soluna to Build a 900-Megawatt Wind Farm in Saharan Desert

Category: Altcoins, Bitcoin, Mining, News

Cryptocurrency Mining Firm Soluna to Build a 900-Megawatt Wind Farm in Saharan Desert

Soluna, a blockchain company began plans to create a 900-megawatt wind farm with the aim of generating power for a computer center in Dakhla in the Morocco-administered Western Sahara Desert. Initial work on the facility will begin in 2019. In the beginning phases of this project, the wind farm will not be connected to the national grid; however, according to…

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Plattsburgh Pushes back against the Crypto Miners, again

Category: Bitcoin, Business, Mining, News, Regulation

Plattsburgh Pushes back against the Crypto Miners, again

Cheap energy prices are sending crypto miners to the U.S.-Canadian border, turning hydropower into hash power, but the authorities are beginning to fight back. Taking Advantage of the Public Utilities Plattsburgh, a small town on the North American border has become ground zero for crypto mining. Owing to its proximity to Niagara Falls, electricity prices in the area are incredibly…

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Central City Rockdale Reinvents Itself from Mining Coal to Mining Bitcoin

Category: Bitcoin, Business, Mining, News

Central City Rockdale Reinvents Itself from Mining Coal to Mining Bitcoin

Rockdale, a town in central Texas, has made headlines due to plans of converting their town from mining coal, into mining bitcoin according to local reports on July 20, 2018. Bitmain Invades, Again In a post-industrial society, many areas that relied on the extraction of raw resources such as coal are beginning to face an economic struggle. Luminant, Texas’s largest…

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New York Looks to Attract Cryptocurrency Miners With New Electricity Tariffs

Category: Bitcoin, Blockchain, Business, Mining, News, Regulation

New York Looks to Attract Cryptocurrency Miners With New Electricity Tariffs

The state of New York has approved a new set of utility rates aimed at attracting further investment from crypto miners into the state. Under the new framework, crypto miners who have descended on upstate New York to take advantage of low electricity prices will now be able to negotiate contracts with a utility supplier. New York is the New…

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Russian Intelligence Officers Face Criminal Charges after Using Bitcoin to Infiltrate Hillary Clinton’s Election

Category: Bitcoin, Crime, Finance, News, Regulation

Russian Intelligence Officers Face Criminal Charges after Using Bitcoin to Infiltrate Hillary Clinton’s Election

On July 13, 2018, an 11-count federal indictment was filed against twelve Russian military intelligence officers allegedly infiltrating Hillary Clinton’s presidential campaign in 2016. The accused used cryptocurrencies to finance their operations and avoid the strict financial scrutiny that accompanies fiat operations. Russian Intelligence Held Responsible Digital Trends reported the misuse of cryptocurrencies by Russian intelligence officials to publicize stolen…

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