Category: Bitcoin mining

Montana County to Hold Public Hearings on Zoning Rules for Crypto Miners Amid Growing Complaints

Montana County to Hold Public Hearings on Zoning Rules for Crypto Miners Amid Growing Complaints

Another U.S. county is facing troubles related to crypto mining activities within its territory. This time, the second-largest county in Montana is the protagonist of the story, who will look forward to revisiting local zoning for mining operators. Authorities to Decide on Making Current Rules Permanent According to KPAX, Missoula County authorities seek to hold […]

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Hive Blockchain Buys 6,400 Bitcoin Miners From Canaan, Capacity Reaches 1,229 PH/s

Hive Blockchain Buys 6,400 Bitcoin Miners From Canaan, Capacity Reaches 1,229 PH/s

Canadian bitcoin miner Hive Blockchain has bought 6,400 next generation mining machines from Canaan. The Avalonminer 1246 miners will add a combined 576 petahash per second (PH/s) to Hive’s existing hash power. ● With the addition of the new machines, Hive’s total hash rate will increase to an estimated 1,229 PH/s, well beyond the company’s […]

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Bitcoin miners have made more than $700 million in revenue thus far in January

Bitcoin miners have made more than $700 million in revenue thus far in January

Bitcoin mining revenue for January has already surpassed December’s total, reaching the highest level seen since January 2018. According to data collected by The Block, bitcoin miners have generated $728.71 million as of January 20. By comparison, bitcoin miners brought in roughly $692 million in December, as previously reported.  Underpinning these revenue figures is the […]

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Bitcoin Energy Consumption Is Far More Efficient and Greener Than Today’s Banking System

Bitcoin Energy Consumption Is Far More Efficient and Greener Than Today’s Banking System

While bitcoin and a variety of digital currencies have swelled in value, a number of critics have spread fear, uncertainty, and doubt (FUD) in regard to the energy consumption proof-of-work (PoW) cryptocurrencies leverage to produce new units of currency. Just recently the software engineer Stephen Diehl expressed his dissatisfaction over the environmental cost of bitcoin. […]

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A Russian Operation Is Mining Bitcoin in the Arctic Circle for Cheap Electricity

A Russian Operation Is Mining Bitcoin in the Arctic Circle for Cheap Electricity

A Russian company is leveraging the Siberian city of Norilsk located above the Arctic Circle in order to mine bitcoins. Bitcluster, the owner of the crypto mining operation, plans to expand the firm’s activities after launching the facility in late 2020. According to the company’s website, the datacenter is getting electricity rates as low as […]

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Pakistan to Set up Two State-Owned Bitcoin Mining Farms to Help Boost Economy

Pakistan to Set up Two State-Owned Bitcoin Mining Farms to Help Boost Economy

The government of Khyber Pakhtunkhwa (KP), the third largest of Pakistan’s four semi-autonomous provinces, is setting up two state-backed bitcoin mining farms, local media reported last week. Ziaullah Bangash, advisor to the chief minister of KP on Science and Information Technology, said the provincial parliament passed a bill allowing the KP government to use its […]

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Proof-of-Work and Yield Farming: Binance and Poolin Launch Tokens Backed by Bitcoin Hashrate

Proof-of-Work and Yield Farming: Binance and Poolin Launch Tokens Backed by Bitcoin Hashrate

There’s a new type of token gaining popularity in the crypto space with the launch of coins that are backed by a specific amount of proof-of-work (PoW) hashrate. On January 6, 2021, Binance launched a new project called the bitcoin standard hashrate token (BTCST), a coin that represents 0.1 terahash (TH/s). Furthermore, the mining operation […]

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Rapid Profits: Bitcoin Hashrate Accelerates While Mining Difficulty Touches All-Time High

Rapid Profits: Bitcoin Hashrate Accelerates While Mining Difficulty Touches All-Time High

The Bitcoin network’s hashrate has been operating at very high processing speeds during the last few weeks, as the overall hashrate touched a whopping 171.2 exahash per second (EH/s) on Monday. Moreover, the network’s mining difficulty has also touched an all-time high (ATH) at 20.61 trillion, the highest difficulty the network has ever experienced in […]

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DCG’s Foundry will colocate 14,000 bitcoin mining machines in U.S. with focus on institutional buyers

DCG’s Foundry will colocate 14,000 bitcoin mining machines in U.S. with focus on institutional buyers

Foundry, the mining subsidiary of Digital Currency Group, has said it’s partnering with a U.S. mining farm to colocate 14,000 bitcoin ASIC miner — a move that will focus in part on institutional buyers.  On Wednesday, Foundry said it will supply 14,000 WhatsMiner M30S units it procured from Shenzhen-based manufacturer MicroBT. As part of the […]

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Publicly-Listed Lottery Company to Buy $14.4M Worth of Bitcoin Mining Machines

Publicly-Listed Lottery Company to Buy $14.4M Worth of Bitcoin Mining Machines

A U.S. listed Chinese sports lottery firm announced that it has entered into a purchase agreement to acquire bitcoin (BTC) mining machines. The deal involves the issuing of $14.4 million worth of 500.com Class A ordinary shares. Models Include S17, T17, M20s and S9 According to the announcement, 500.com Ltd reached an initial agreement to […]

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