Posts in category

Mining


New code is set to be released that would make obsolete the mining hardware designed by chip maker Bitmain for the decentralized storage protocol siacoin. Revealed in an email obtained by CoinDesk, Obelisk, a startup that aims to offer alternative mining equipment for the protocol, has proposed code would give those running the software the …

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Bitmain Technologies, Ltd. is about to go public. According to documents obtained by CoinDesk, the cryptocurrency mining company is filing for an initial public offering (IPO) potentially as high as $18 billion this September at a market capitalization of $40 to $50 billion. It will be listed on the Hong Kong Stock Exchange in Q4 …

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More than 170,000 devices in Brazil were targeted in a cryptojacking attack last month. According to a blog post published by security firm Trustwave, a wide-scale cyberattack was launched on MicroTik routers late last month. The effort led to the installation of the Coinhive mining software in a “mass” infection of more than 17,000 devices. Trustwave security researcher …

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Japanese IT giant GMO has just reported making an operating profit of 255 million yen (about $2.3 million) for its cryptocurrency business in the second quarter of this year. The firm released its financial report following an earnings call on Thursday, which indicated that the company’s crypto segment made a total of 2.6 billion yen, or $23 …

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Cryptocurrencies are not exactly bathed in the light of righteousness right now when it comes to the environment. Despite not having a physical form, they are ultimately responsible for a substantial amount of environmental impact. This has stemmed from news stories detailing how, in Iceland, more electricity is being used to mine Bitcoin than is …

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Another county in the U.S. state of Washington has blocked new utility applications from cryptocurrency mining outfits due to concerns over spiking energy demands. According to a local news source on Sunday, commissioners from the Franklin County Public Utility District (PUD) ordered the temporary moratorium to make time for a study on the effects of …

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After five long months of working with South Carolina officials, Genesis Mining has been dropped from the cease and desist order it received back in March 2018 from the South Carolina Securities Division. The company will relaunch to U.S.-based customers shortly. This marks one of the first times a blockchain company has fought back against …

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Google just nixed any app that mines cryptocurrencies from its Play Store. With a recent update to the store’s policies, the tech monolith rewrote its stance on cryptocurrency apps. We don’t allow apps that mine cryptocurrency on devices. We permit apps that remotely manage the mining of cryptocurrency. As the latter half of the policy …

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Google has now joined Apple in banning cryptocurrency mining applications from its mobile app store. According to a report from a industry media outlet Android Police on Thursday, the internet giant revealed its shift in stance in a recent policy update for Google Play developers. “We don’t allow apps that mine cryptocurrency on devices. We …

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DMG Blockchain Solutions Inc., a diversified blockchain company, is in the process of installing an 85-megawatt transformer and electric substation for the company’s cryptocurrency mining facility, according to a company statement. The new substation is  commissioned to be operational by September 2018, with 60 megawatts available for energizing mining rigs. The Canadian company offers a range of …

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New mining software promises to let almost anyone earn small amounts of bitcoin with a Windows laptop, giving users a taste of the cryptocurrency’s early days. Revealed exclusively to CoinDesk, the New Jersey-based crypto mining startup Honeyminer quietly launched a free beta in June and has already garnered 10,000 downloads across the globe. Honeyminer allows users …

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Semiconductor manufacturing giant TSMC said Thursday that it expects demand for cryptocurrency mining-related products to cool off during the third quarter of this year. The company – which manufactures components for bitcoin mining chip makers, including Bitmain – announced its second-quarter results, reporting that it made $7.85 billion in revenue. That figure represents a decline of 7.2 …

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Vietnam has moved a step closer to halting cryptocurrency miner imports, a local new source reported on Thursday. According to Viet Nam News, State Bank of Vietnam (SBV), the country’s central bank, has now agreed to a proposed plan to halt imports of the specialized mining devices since the country has already banned the use of …

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Illicit cryptocurrency mining, or “cryptojacking,” has become more popular among cybercriminals than ransomware, according to a report by Skybox Security. In its mid-year update, the firm said that crypto miners now account for 32 percent of all cyberattacks, while ransomware only makes up 8 percent. Cryptojacking utilizes code hidden on websites or devices to harnesses victims’ computing …

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Nonprofit organization PoWx has launched this week with the goal of boosting the idea behind proof of work (PoW) through more innovative algorithms. The company is seeking to decentralize Bitcoin mining and make it more accessible to consumers through a new technology that executives have dubbed “optical PoW” — a new type of hardware that …

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Leshi Internet, a Chinese video streaming website with a history of financial troubles, is being questioned by the Shenzhen Stock Exchange over its subsidiary’s move into the crypto space. Lerong Zhixin, a smart TV maker owned by Shenzhen-listed Leishi, announced a plan on Wednesday to partner with a blockchain startup to launch a video streaming console …

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Cryptocurrency mining malware that infected over a million computers in China reportedly earned its creators more than $2 million over two years. According to a local news report on Monday, police in China’s Da Lian city have arrested 20 suspects from a computer technology firm who allegedly gained control of the large number of computers …

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Malicious actors are moving from ransomware to crypto-jacking, a leading cybersecurity firm reported Thursday. Kaspersky Lab, the Russian cybersecurity company, said in a new report that ransomware attacks – where a malicious file locks a computer until a ransom is paid – have declined by nearly half as the perpetrators instead move to deploy crypto-mining …

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Ebang Communication, one of the largest bitcoin mining chip makers in China, is seeking to go public on the Hong Kong Stock Exchange (HKEX). The company filed an application for an initial public offering with the HKEX on Monday, document shows. Since the application is still in draft form, it’s unclear at this stage the valuation of the …

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Quebec’s public power utility has submitted plans to the provincial government that could clear the way for Hydro-Quebec to set up a new framework through which to work with cryptocurrency miners. The plan, if approved, would create a selection process by which Hydro-Quebec will parcel out 500 megawatts worth of power to crypto miners. In …

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