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Digital Currency Group Pledges $100 Million to Bolster Bitcoin Mining Industry

28.8.2020
The firm Digital Currency Group (DCG) is entering the mining industry, as the firm has pledged $100 million into a cryptocurrency mining firm called Foundry. The mining company Foundry was noiselessly founded in 2019 and it aims to offer capital, consulting, and intelligence to digital assets...

Miners’ Bitcoin Holdings Reach Two-Year High to Almost 2M

27.8.2020
The recent upward trend began in September 2019

Capturing Petahash: Marathon Obtains 3,300 Bitcoin Mining Rigs, Acquires Fastblock for $22 Million

27.8.2020
The Nasdaq-listed cryptocurrency mining company, Marathon Patent Group, has announced it will be purchasing Fastblock Mining in an all stock transaction. The firm’s letter of intent revealed Marathon will acquire Fastblock for around $22 million. The company will obtain 3,304 ASIC bitcoin...

No more cheap electricity for Inner Mongolian crypto miners, officials say

26.8.2020
The halcyon days of state subsidized electricity are over

Official Notice Says Cheap Electricity to End for Inner Mongolian Bitcoin Miners

26.8.2020
Regional reports say that officials from Inner Mongolia delineated 21 bitcoin mines, as the region plans to stop subsidized electrical rates for certain data firms. Unless the bitcoin mining facilities pack up and migrate, mining farms may see an electrical price increase by one third. The Chinese...

Riot Blockchain Buys 8,000 of Bitmain’s Latest Bitcoin Miners, Company Targets 1.5 EH/s by 2021

25.8.2020
Bitmain Technologies Inc. said Monday that Nasdaq-listed Riot Blockchain is buying 8,000 of its Antminer S19 Pro bitcoin miners in a deal worth $17.7 million. In a blog post, the Chinese crypto mining hardware maker stated that the machines will be delivered in batches of 2,000 over four straight...

The Bitcoin Network Now Consumes 7 Nuclear Plants Worth of Power

25.8.2020
The SHA256 hashrate that secures the Bitcoin network has grown massively during the last few years, as Bitcoin’s processing power has touched all-time highs in 2020. Moreover, the gigawatts of electrical consumption powering industrial bitcoin mining today consumes as much as seven nuclear...

Miners on Decentralised Storage Network Compete For 4 Million Token Prize

23.8.2020
It’s a different kind of Space Race

Iran Shuts Down 1,100 Illegal Bitcoin Miners; Whistleblowers Rewarded $2,400

23.8.2020
Iran’s Power Generation, Distribution, and Transmission Company (Tavanir) has reportedly shut down 1,100 illegal bitcoin mining farms in the country, local media reported. Whistle-blowers tipped off authorities on unauthorized miners following a July announcement of rewards including...

Miners, Investors Clash Over ETH Proposal; Bug 'Best Thing' for Testnet

21.8.2020
A new proposal to reduce the inflation rate on the Ethereum (ETH) network is facing criticism from the mining community, as some miners suggest token investors may be more interested in making money on their holdings than the security of the network. Meanwhile, a bug that infected the Medalla...

Shock: Ethereum Miners Against Proposal to Reduce Block Rewards by 75%

21.8.2020
The new EIP-2878 would reduce block rewards by 75% and has received sharp criticism from miners who say it will compromise the network’s security

Hash Watch: Bitcoin Cash Miners Begin Signaling Node Implementations

20.8.2020
There’s 88 days left until the Bitcoin Cash upgrade scheduled for November 15, 2020, and the community has been watching miners closely. On August 18, the Bitcoin ABC team published a blog post that revealed a “feature freeze is now in place,” as it contains a new coinbase rule....

Excessive Flooding in Sichuan Causes 20% Hashrate Losses for Chinese Bitcoin Miners

18.8.2020
Torrential downpours of nonstop rain have been wreaking havoc in China’s Sichuan province, which has caused some operations to shut down ASIC mining devices. Reports from the region show that certain areas have seen electrical shortages and the aftermath is causing quite a bit of stress...

Bitcoin Hashrate Falls 25% in 3 Days, Miners Unplug as Floods Hit China

18.8.2020
With heavy rainfalls and flooding hitting Southwest China’s Sichuan province, the global computing power dedicated to mining bitcoin (BTC) has now dropped by about a quarter, as some Sichuan-based miners have been forced to unplug from the network. The bitcoin computing power, usually referred...

Sichuan Officials Continue to Foster the Relationship Between Bitcoin Mining and Hydropower

18.8.2020
The province of Sichuan is well known for being one of the largest concentrations of bitcoin miners on earth because electrical costs are extremely cheap in the region. Data shows that miners using hydropower in Sichuan are paying between 0.065-0.075 yuan or $0.01 per kilowatt-hour. According...

Nasdaq-Listed Firm Marathon Buys 10,500 Next-Gen Bitcoin Miners for $23M

15.8.2020
One of the earliest Nasdaq-listed cryptocurrency mining companies, Marathon Patent Group, announced a new agreement contract with the ASIC mining manufacturer Bitmain. According to the public company, Marathon has agreed to purchase 10,500 next-generation Antminer S-19 Pro models for $23 million....

Chinese Bitcoin Miners Develop Strong Relationships and Crypto Mining Facilities in Iran

14.8.2020
During the last few months, crypto proponents have focused their attention on Iran. The Iranian President Hassan Rouhani initiated a new mining strategy last May, and the government-licensed 14 bitcoin mining farms in July. According to the Chinese mining operation Lubian, it claims to operate...