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Tag: bitcoin mining

Texas Oil Producers Could Channel Excess Gas into Bitcoin Mining Operations

Category: Altcoins, Bitcoin, Business, Mining, News

Texas Oil Producers Could Channel Excess Gas into Bitcoin Mining Operations

A handful of forward-thinking Wall Street analysts have been inspired to turn gas producers in Texas’s oil-rich Permian Basin a healthy profit by simply converting their ‘useless’ natural gas into bitcoin and other cryptocurrencies. Gas Flaring to Bitcoin Mining Some cryptocurrencies use a proof-of-work (PoW) algorithm, a consensus that requires miners to compete against each other to complete transactions and…

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Individuals Arrested by Russian Police for Illegal Bitcoin Mining Operation

Category: Bitcoin, Mining, News, Regulation

Individuals Arrested by Russian Police for Illegal Bitcoin Mining Operation

Russian police have shut down a makeshift crypto rig, arresting two individuals for engaging in illicit Bitcoin mining activities on April 11, 2018. Warehouse Seized by Authorities According to reports, Ministry of Internal Affairs official, Irina Volk revealed that Russian Security Forces had arrested two people who turned an abandoned rubber manufacturing facility into an illegal crypto mining rig. (Source:…

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Samsung Reportedly Developing ASIC Chips for Halong’s Bitcoin Miners

Category: Bitcoin, Business, Mining, News

Samsung Reportedly Developing ASIC Chips for Halong’s Bitcoin Miners

Bitmain, the world’s biggest ASIC crypto mining hardware manufacturer, might be in for some serious competition in the shape of Halong Mining if the tweet from an online mining rig retailer is to be believed. MyRig, an online mining rig retailer tweeted a photo of a thin slice of semiconductor material called a wafer. According to MyRig, the 10-nanometer wafer…

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Bitcoin Mining Manufacturer Canaan Creative Seeks IPO to Fuel Growth

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

Bitcoin Mining Manufacturer Canaan Creative Seeks IPO to Fuel Growth

China’s second-largest Bitcoin mining hardware producer Canaan Creative is seeking an initial public offering (IPO) on a foreign stock exchange, including Hong Kong or the United States. The company accounts for around 25 percents of total machines mining bitcoin in the network. Failed Attempt to List on Shenzhen Stock Exchange According to Caixin, the firm’s valuation was 3.3 billion yuan…

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Washington Chelan County PUD: We Will No Longer Tolerate Illegal Bitcoin Mining Activities

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

Washington Chelan County PUD: We Will No Longer Tolerate Illegal Bitcoin Mining Activities

Where cheap electricity is abundant, there are illegal bitcoin miners. Washington Chelan County, a region bursting with cost-efficient hydroelectric power, is now fed-up of illegal mining operations going on in the area and has declared total war on the “scoundrels” perpetuating the crime. No Room for Illegal Cryptocurrency Mining Back in March 2018, the Washington state Chelan County Public Utility…

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The New Era of Large-scale, Commercial Crypto Mining

Category: Business, Mining, News

The New Era of Large-scale, Commercial Crypto Mining

The Sichuan mountains located in China, the Columbia basin that runs through Seattle and Grindavík in Iceland all have something in common. Though these places are hundreds of miles apart from each other, they play a significant role in keeping various cryptocurrencies running. These locations host the world’s most extensive commercial digital currency mining operations. Crypto Mining is Taking Over…

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Bitcoin Mining Behemoth Bitmain Could Secretly be Creating a Mining Facility in the US

Category: Business, Mining, News

Bitcoin Mining Behemoth Bitmain Could Secretly be Creating a Mining Facility in the US

One of the areas that became extremely popular during the rapid rise of bitcoin prices during 2017 was that of bitcoin mining. While in the formative years of the world’s first cryptocurrency, individual miners were able to compete without having ultra-expensive mining rigs, this is no longer the case. The space of bitcoin mining is extremely competitive these days, with…

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Bitmain Recorded $2.3 Billion Turnover Following Cryptocurrency Boom in 2017

Category: Business, Mining, News, Tech

Bitmain Recorded $2.3 Billion Turnover Following Cryptocurrency Boom in 2017

Mark Twain rightly said, “During the gold rush it’s a good time to be in the pick and shovel business.” In the 21st century, Bitcoin is the new gold, and Application-specific Integrated Chips (ASICs) are the new picks, and business is booming for many submarkets in the space. Swell of Market Demand Unsurprisingly, Bitmain one of the largest mining hardware…

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Central Banks Considered Issuing Cryptocurrencies, Italy’s Economy Minister Reveals

Category: Bitcoin, Commentary, News

Central Banks Considered Issuing Cryptocurrencies, Italy’s Economy Minister Reveals

Italy’s Economy Minister Pier Carlo Padoan has revealed that some central banks have already begun deliberation on the pros and cons of issuing a cryptocurrency. The minister spoke at an event in Milan on January 31, 2018, said that the primary reason banks were considering releasing crypto offerings was to dodge bubbles. Has the Bubble Popped? “Some central banks are…

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Coinbase under Fire for Their Bitcoin Mempool Spamming

Category: Bitcoin, Blockchain, Commentary, Mining, News, Tech

Coinbase under Fire for Their Bitcoin Mempool Spamming

Coinbase is currently the biggest worldwide wallet platform and brokerage for cryptocurrencies with a platform valued at upwards of $1.6 billion. But, the firm has been under fire on a variety of different fronts as of late. Clearing the Mining Pool The latest reason for them coming under attack is due to the lack of Segregated Witness (SegWit) and batching…

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