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China’s Coal Standoff Causes Power Shortages, Chinese Bitcoin Miners ‘Heavily Affected’
28.12.2020
Regional reports from China detail that bitcoin miners located in certain areas in South China are running short on electricity. The country has been having massive issues with coal prices soaring across the mainland, as the Chinese government hasn’t been allowing coal carriers into ports....
An Unknown User Incurs More Than $80,000 in Transaction Fees When Sending BTC Worth $1
23.12.2020
An unknown person incurred a transaction fee of more than $80,000 or (3.49079570 bitcoins) when transferring bitcoin worth $1.16. According to Blockchain.com, the December 19 transaction, which is included in block 662052, had an input of 3.49084570 bitcoin and an output of 0.00005000 bitcoin....
Genesis Mining Is Converting Excess Bitcoin Datacenter Heat Into Greenhouse Power in Sweden
20.12.2020
One of the largest bitcoin mining operations in the world, Genesis Mining, has been working on an experiment with Systemair, Lulea Technical University, Research Institute of Sweden, and the local Boden municipality. The teams in Sweden are developing a system that converts excess heat from...
Bulgarian Electricity Company Unveils Details of Historic Power Theft Linked to Illegal Bitcoin Mining
16.12.2020
One of the largest exporters of electricity in Europe has revealed details of the most significant theft they have had in history, linked to a massive illegal bitcoin mining farm in a small Bulgarian village. Bulgarian Electricity Company Uncovers Massive Electricity Theft Linked to Illegal Bitcoin...
Bitcoin’s Rise Causes Shortage of Mining Rigs, Most Units Sold Out, Miners Concerned About Supply
5.12.2020
While the bitcoin economy has swelled in value, the overall network hashrate has gradually climbed higher as miners are making a lot of money confirming blocks. However, obtaining bitcoin mining rigs isn’t so easy these days, and regional reports from China indicate a great number of ASIC...
Bitcoin Mining Rigs Struggle for Profits, Despite BTC’s Hashrate Reaching an All-Time High
16.10.2020
Bitcoin’s hashrate climbed to an all-time high (ATH) this week touching 166 exahash per second (EH/s) on October 14. Meanwhile, despite the recent price rise and hashrate ATH on Wednesday, only a small group of next-generation mining rigs are profiting at current bitcoin exchange rates....
Publicly Listed Energy Firm Equinor Exploits Gas Flaring in North Dakota to Mine Bitcoin
21.9.2020
Just recently, the firm Arcane Research recently revealed a number of screenshots from the publicly traded energy firm, Equinor. The pictures show the multinational company leveraging natural gas flaring to power bitcoin mining operations. In recent years, using the unorthodox gas flaring scheme...
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...
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...
China’s Bitcoin Mining Industry Impacted the Most This Year, Says Report
20.8.2020
The researchers and analysts from Tokeninsight published it’s “2020 Q2 Cryptocurrency Mining Industry Report” which shows the industry has grown exponentially during the last six months. The findings indicate cryptocurrency mining has expanded a great deal but China’s...
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 Difficulty Touches All-Time High, 120 Exahash of Hashpower Remains Strong
13.7.2020
The network difficulty for the Bitcoin network spiked over 9.8% on Monday bringing the difficulty to its highest point ever. The record high of 17.35 trillion makes it much harder for bitcoin miners to profit. However, the overall Bitcoin network hashrate has remained consistently above the...
Bitcoin Mining Chip Manufacturer Ebang to List on Nasdaq This Week
24.6.2020
On Friday, June 26, the China-based Zhejiang Ebang Communication, often referred to as Ebang, will be listed on Nasdaq, according to various reports. Ebang’s initial public offering (IPO) will be the second U.S.-based IPO for an ASIC mining manufacturer joining the company Canaan. The Ebang...
Bitcoin ASIC Miner Manufacturing Domination: Bitmain and Microbt Battle for Top Positions
22.6.2020
On June 16, 2020, Bitmex researchers published a report that noted bitcoin mining rig manufacturers have consolidated a great deal and in the future, Bitmex researchers predict that “only 2 to 3 players will survive into the longer term.” There’s still a number of SHA256 mining...
Bitmain’s Cofounder Accused of Hindering Next-Gen Bitcoin Mining Rig Shipments
14.6.2020
On June 11, 2020, regional reports disclosed that the cofounder of Bitmain, Micree Zhan, is still battling with Jihan Wu in an ongoing feud. The quarrel is allegedly causing shipment problems for customers, as reports note that Zhan is prohibiting deliveries stemming from the company’s...
Bitcoin Hashrate Spikes to 120 Exahash: Difficulty Drops Allowing Miners to Rejoin the Competition
7.6.2020
The Bitcoin hashrate is up this weekend after the network experienced it’s fourth negative difficulty adjustment this year. The Bitcoin (BTC) protocol’s difficulty adjustment dropped over 9% on June 4, giving miners who shut off their machines a chance to join the competition once...
South Korea to Start Taxing Bitcoin Profits in 2021
29.5.2020
South Korea will start taxing profits from bitcoin (BTC) and other cryptocurrencies next year, according to local media reports. The taxation will also apply to bitcoin mining operations and income from initial coin offerings, should it be approved by Parliament. South Korea’s Ministry...
Bitcoin Miners Reveal Concerns Over Mining Rig Shipment Delays and Bitcoin Halving
15.4.2020
The cryptocurrency market rout in mid-March, which saw bitcoin’s price slide significantly in value, has strained bitcoin mining operations by slashing considerable revenue from the block rewards. Moreover, shipping delays from mining manufacturers have caused uncertainty and mining...
Bitcoin Going Industrial: New York-Based Natural Gas Provider Sells Fully Compliant ‘Hashpower Contract’
10.4.2020
During the first week of March, news.Bitcoin.com reported on a $65 million investment into the ‘behind-the-meter’ bitcoin mining operation, Greenidge Generation LLC in Dresden, New York. The Greenidge plant operates 7,000 bitcoin miners and on April 8, the firm revealed the sale of...
Texas Cloud Mining Firm Shut Down After Fake Charity Pitch
10.4.2020
Ultra Mining is accused of running a ‘recession special’ and touting a fraudulent $100,000 donation to coronavirus relief efforts