Posts in category

Bitcoin Mining


Cloud mining service Genesis Mining is forcing some clients to upgrade to a five-year subscription or else lose services, it announced Thursday. The Iceland-based startup said in a blog post that it will end open-ended contracts for customers who are not earning enough to cover maintenance fees in roughly two months due to the ongoing …

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Bitcoin mining hardware giant Bitmain is officially setting up shop in Rockdale, Texas, and expects to launch mining operations early next year. The firm confirmed Monday that it is investing $500 million over the next seven years into a new blockchain data center in the U.S. state as part of its “strategic investment and expansion …

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“We joke about it being bitcoin’s ‘unprofitability’ calculator.” That’s how CEO of RandomCrypto, Josh Metnick, described his newly released tool that calculates the profitability of bitcoin mining – the process of solving puzzles to earn bitcoin, usually only possible with expensive processors called ASICs. Revealed exclusively to CoinDesk, Metnick hopes the new calculator will improve on …

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China’s Xinjiang Uyghur autonomous region is set to eliminate “illegal” bitcoin mining operations by the end of August, a government agency has confirmed to CoinDesk. Rumors first emerged online over the weekend after the leak of a government notice issued by Xinjiang’s Economic and Information Commission (EIC) indicating the authority was demanding that local utility companies …

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Three bitcoin mining companies have joined a list of “unicorns” – private companies valued at over $1 billion – for the first time. The Shanghai-based Hurun Research Institute published its Q2 Unicorn Index for the Greater China region on Wednesday, which notably included the names of several major bitcoin mining firms: Bitmain, Canaan Creative and Ebang. …

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The much-publicized partnership that would have resulted in digital media brand Kodak’s name appearing on a series of bitcoin miners is no more. Revealed in January at the CES tech show in Las Vegas, the Kodak KashMiner boasted a two-year income projection of $9,000 and required an up-front payment of roughly one-third of that amount. …

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A long-controversial bid to change bitcoin just got a big boost. Boasting the support of tenured developers, a non-profit foundation called PoWx launched this week with the goal of putting a more sophisticated wrapper on the idea to that proof-of-work (PoW), the way the network comes to agreement on which transactions are valid, could be replaced with …

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Bitcoin may be global, but it’s still a small community This is why a recent Fast Company South Africa story attracted international commentary – and not in a good way. After all, it isn’t every day that relative unknowns get touted as “Bitcoin Kings” on a magazine cover. Still, that’s how the crypto world has …

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Authorities in China have arrested a man for allegedly stealing a significant amount of power in order to fuel a clandestine cryptocurrency mine. Police in the eastern Chinese province of Anhui Province seized more than 200 computers used for bitcoin and ether mining after the local power grid company reported a spike in electricity use, …

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#00000000000000000021e800c1e8df51b22c1588e5a624bea17e9faa34b2dc4a This is a hashtag, but not just any hashtag. In all likelihood, it’s the longest and most confusing one you’ll ever come across trending in the crypto community. Posted on June 19 by Mark Wilcox, the hashtag actually represents a cryptographic code known as a hash that’s produced each time new transactions are validated and …

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A county in the U.S. state of Montana that is weighing whether it should halt new and expanded bitcoin mining initiatives now won’t make a final decision until at least August. The Missoula County Commission held a public hearing on Thursday aimed to decide on a proposed one-year suspension of new mining initiatives, but postponed …

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Star Trek legend William Shatner has become the latest celebrity to beam into the crypto space. Shatner, known for playing Captain Kirk in the science fiction series, is representing Solar Alliance, an alternate energy developer which is planning to build a solar-powered bitcoin mining facility in Illinois, the Chicago Tribune reported Wednesday. The company – …

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Apple has moved to put a stop to any crypto-mining apps that might be used on its mobile products. In a recent update, the personal computing company expanded its initial guidelines on cryptocurrencies. Before, the guidelines specified apps facilitating cryptocurrency exchange and/or initial coin offerings (ICOs) must comply with all applicable state and federal laws. …

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Japanese technology firm GMO Internet Group has developed a new mobile app that lets users earn bitcoin simply by playing games, the company said on Thursday. According to an announcement, the new app – called CryptoChips – will initially be integrated with a real-time territorial battle game also developed by GMO called “Whimsical War.” By playing …

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Iceland’s 600 missing bitcoin mining machines may be in China, local news reported last week. According to RUV, Icelandic police have sent Chinese authorities an inquiry after the latter country confiscated 600 mining computers. Police in the Tianjin area reportedly seized the machines after detecting unusually high electricity consumption, per Xinhua News. The Chinese news agency explained …

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A public utility in one of the U.S. hot spots for bitcoin mining is adopting new security measures in light of harassment of some of its employees. The steps are being taken by the Chelan County Public Utility District (PUD) in Washington County – as previously reported, the area has attracted a number of bitcoin miners …

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Network tech giant Cisco won a patent on Tuesday that could be applied to the bitcoin mining process. Cisco submitted a patent application back in September 2015 for a “Crowd-sourced cloud computing” system, according to information from the U.S. Patent and Trademark Office (USPTO). The patent outlines how computer owners may be able to offer …

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Allegations of electricity theft have led to the arrest of bitcoin miners in two Chinese cities, according to reports. In the first instance, six individuals have been arrested in Tianjin, with the Xinhua news agency saying the suspects allegedly used 600 cryptocurrency miners to generate bitcoin with power taken from the local power grid. The …

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The regulatory crackdown on bitcoin trading in mainland China has reportedly led to a bitcoin miner in Taiwan being shot by local gangsters. According to a report from Taiwanese news source Liberty Times, the incident occurred on Saturday night, local time, when two local gangsters had scheduled to meet a bitcoin miner with whom they had …

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Joe Ciccolo is the president of BitAML, Inc., a compliance service provider. Andrew Hinkes is an adjunct professor at the NYU Stern School of Business and NYU School of Law. This article is not intended to provide, and should not be taken as, legal advice. With just one paragraph, an agency of the U.S. government may …

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