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Tag: cryptocurrency mining

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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Russian Company Opens Country’s Largest Cryptocurrency Farm in Former Soviet Fertilizer Laboratory

Category: Altcoins, Bitcoin, Mining, News

Russian Company Opens Country’s Largest Cryptocurrency Farm in Former Soviet Fertilizer Laboratory

A Russian company known as the Kriptoyunivers Center opened the nation’s largest cryptocurrency mining unit on Monday, August 20, 2018. According to the South China Morning Post, the mining farm is currently located in a former Soviet fertilizer-producing laboratory. The 44,000 square foot Kriptoyunivers center mines Bitcoins and Litecoins. The center emerged as a result of Russian Authorities who are…

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Nvidia Says its Crypto Businesses is Never Coming Back, Officially Out

Category: Altcoins, Bitcoin, Business, Mining, News

Nvidia Says its Crypto Businesses is Never Coming Back, Officially Out

In a second-quarter earnings call, Nvidia CEO Colette Kress has said that the revenues from its cryptocurrency venture have declined to a point in which the chip manufacturing conglomerate will now have to back out from the crypto sector. $100 Million to $18 Million In early 2018, Nvidia expected its cryptocurrency mining equipment manufacturing venture to bring in at least…

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Computing Rigs Powering the Cryptocurrency Mining Industry

Category: Cryptocyclopedia, News

Computing Rigs Powering the Cryptocurrency Mining Industry

Over the last one year, the public interest in cryptocurrencies and related offerings has grown manifold. Irrespective of the falling prices, enthusiasm, and curiosity for digital assets continues to  persist While a majority of individuals are more interested in investing, few move towards other operational activities, mining being one of them. Cryptocurrency mining requires specific high-end hardware and algorithms to…

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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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Cryptocurrency Mining Demand Leads to Mixed Results for AMD and Nvidia

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

Cryptocurrency Mining Demand Leads to Mixed Results for AMD and Nvidia

The cryptocurrency sector has indirectly influenced the fortunes GPU manufacturers Advanced Micro Devices (AMD) and Nvidia, with the former’s share prices increasing by 30 percent in May 2018 alone. AMD Stocks Rise on Mining Demand Since 2017, opportunistic cryptocurrency miners have started to bulk purchase GPU cards to build powerful mining rigs. While the move has augmented both profits and…

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Japanese Police Arrest 16 Persons for Illegally Mining Cryptocurrency

Category: Altcoins, Crime, Mining, News, Regulation

Japanese Police Arrest 16 Persons for Illegally Mining Cryptocurrency

While the entire crypto ecosystem is still trying to find lasting solutions to crypto-related financial crimes such as money laundering, crypto theft, hacks and heists, bad actors keep formulating new ways to benefit from the digital currency revolution at the expense of others. Now, Japan’s security forces have arraigned sixteen people for similar cryptojacking on June 15, 2018. Mining Crypto…

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Estonian Cryptocurrency Mining Startup Seek SEC Approval for $180 Million Initial Coin Offering

Category: Altcoins, Blockchain, Finance, Mining, News, Tech

Estonian Cryptocurrency Mining Startup Seek SEC Approval for $180 Million Initial Coin Offering

At a time when crypto exchanges and bitcoin-related businesses in the US are feeling reluctant to come under the umbrella of the Securities and Exchange Commission, this Estonian startup has audaciously filed with the SEC to raise $180 million via an Initial Coin Offering (ICO). Aiming for the Moon According to a Form D submitted to the SEC, NewTech Myning…

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Hackers Earned Over $96 Million by Fraudulently Mining Monero, Finds Research

Category: News

Hackers Earned Over $96 Million by Fraudulently Mining Monero, Finds Research

A significant malware trend in 2018 is the relatively new “crypto-jacking,” involving hacker groups infiltrating victim computers to mine cryptocurrencies. The most affected of the lot is privacy-protocol Monero, as research found out. Monero – The Hacker’s Favourite Coin According to a Security Boulevard report on June 13, 2018, over 5 percent of all Monero (XMR) has been mined using…

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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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