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Tag: Bitmain

Bitmain Looks to Expand their Development Center in Israel; Opens Shop in San Jose, California

Category: Bitcoin, Business, Finance, Investment, News

Bitmain Looks to Expand their Development Center in Israel; Opens Shop in San Jose, California

Bitmain, the Chinese Bitcoin mining giant currently valued at $12 billion, is looking to expand their Development Center in Israel and recruit more than 40 people. The new round of recruitment will triple the current number of employees at the Ra’anana center based on July 2018 reports. Golden Opportunity to Grow According to Globes, an Israeli business news site, Bitmain,…

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Amidst Bear Market, Crypto Miners Repurpose Mining Equipment

Category: Altcoins, Bitcoin, Business, Ethereum, Mining, News

Amidst Bear Market, Crypto Miners Repurpose Mining Equipment

A growing number of cryptocurrency miners are finding other ways to put their equipment to use as depressed digital asset prices make it increasingly difficult to stay afloat in the market. This is the theme of a special report in the Los Angeles Times July 17, 2018, which outlines amongst other things, how a surplus in computing power is making crypto…

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Block.one Announces End of Funding Round, Bags Peter Thiel and Bitmain

Category: Altcoins, Blockchain, Development, News

Block.one Announces End of Funding Round, Bags Peter Thiel and Bitmain

In a blog post published on July 16, 2018, Block.one announced that it successfully managed to secure funding from some private organizations and individuals. The company is best known for its EOS blockchain platform that had its mainnet launch in June 2016. Block.one Funding so Far Among the list of investors are PayPal founder Peter Thiel and Chinese cryptocurrency mining company…

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PoWx’s Optical Proof of Work May Solve two of Bitcoin’s Biggest Problems

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

PoWx’s Optical Proof of Work May Solve two of Bitcoin’s Biggest Problems

With bitcoin becoming more competitive, a new organization looks to bring decentralization back to mining by renovating the Proof of Work (PoW) consensus algorithm that some miners have come to love. The premise, in short, hopes to replace energy costs with manufacturing costs. Miner Profitability and Environmental Concerns PoWx is the foundation behind a new algorithm called OPoW, or Optical…

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Bitcoin Mining Behemoth Bitmain now Worth $12 Billion, Invests in Opera Browser

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

Bitcoin Mining Behemoth Bitmain now Worth $12 Billion, Invests in Opera Browser

The largest and most potent bitcoin mining firm on the planet, Bitmain has reached yet another significant milestone in its history. The ASIC manufacturer has now hit the $12 billion valuation mark after a successful Series B Financing round and has also pumped money into Opera Ltd., the makers of favorite Opera browser. A Giant Gets Bigger Per a Finance…

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Bitmain’s Hashrate Steadily Reaching 51 Percent of Bitcoin Network, Already at 42 Percent

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

Bitmain’s Hashrate Steadily Reaching 51 Percent of Bitcoin Network, Already at 42 Percent

Bitmain’s concerning hashrate dominance on the Bitcoin’s network reached a new high on June 24, 2018, after reports suggested it nearing the fatal 51 percent figure. Rising Concerns As per a report on Trustnodes, the Chinese mining equipment manufacturer controls over 42 percent of the network hashrate if data from June 2018 is considered. Bitmain-owned BTC.com and Antpool released statistics…

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Chinese Police Raid Illegal Bitcoin Miner’s Home, Seize 200 Computers

Category: Altcoins, Bitcoin, Blockchain, Crime, Mining, News

Chinese Police Raid Illegal Bitcoin Miner’s Home, Seize 200 Computers

A private residence in Anhui Province, Eastern China has become the scene of yet another incident of electricity theft in an illegal cryptocurrency mining operation, with a police raid revealing an illicit setup of 200 computers mining bitcoin and ethereum. The story, which was reported in Chinese media is yet another instance of a new and growing category of crypto-related…

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Study Confirms Presence of ASIC Miners in Zcash Network

Category: Altcoins, Bitcoin, Blockchain, Mining, News

Study Confirms Presence of ASIC Miners in Zcash Network

The Zcash Foundation has historically maintained an anti-ASIC stance and condemns the rising threat of mining centralization. Now, the foundation collaborated with researchers to study and analyze the percentage of ASIC miners present across the mining network. Study to Detect ASIC Miners in Zcash Bitmain’s announcement to launch a dedicated Equihash ASIC miner was not taken well by the Zcash…

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Obelisk Takes the Lead in Fight against Mining Centralization with “Launchpad”

Category: Business, Mining, News, Tech

Obelisk Takes the Lead in Fight against Mining Centralization with “Launchpad”

Application Specific Integrated Chip (ASIC) manufacturer Obelisk has announced their ambitious plan to turn the ASIC-dominated crypto mining industry on its head with the release of the “Obelisk Launchpad,” a new community-focused service. Cryptosphere Is Sick of ASICs The release of Launchpad comes at a time when most significant cryptocurrencies are facing a threat from the burgeoning power of ASIC…

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Bitmain Considers Billion Dollar IPO after Expansion in Other Sectors

Category: Bitcoin, Business, Finance, Mining, News

Bitmain Considers Billion Dollar IPO after Expansion in Other Sectors

Bitmain, the world’s largest mining equipment manufacturer, may soon go public with its company. The move could propel the Chinese firm to one of the world’s most valuable companies. Bitmain’s IPO Push Speaking to Bloomberg, Jihan Wu, the founder of Bitmain, revealed that he is pursuing an expansion beyond the cryptocurrency sector, and this may subsequently lead to an initial…

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