Bitcoin miners in China already have to deal with a government that wants to stamp out their industry. Add to that natural disasters such as flooding and landslides, and they have a full plate to contend with. Sichuan Bitcoin Farms Hit by Floods According to government services, monsoon flooding in China during July and August…
Russia looks to crypto to avoid sanctions and moves to legalize cryptocurrency mining later this year. Russian President Vladimir Putin has signed legislation aimed at reducing Russia’s reliance on the United States dollar in international trade. The new law, effective from November 2024, permits approved mining firms to register via a state database to mine…
Updated August 3rd 2024. If the volatility of investing in cryptocurrencies is too much for you but you still want to benefit from the new economy, setting up a small cryptocurrency mining operation at home may be the right choice for you. Although the quoted returns are high, we warn against ‘cloud mining’, as every…
The winds of change are blowing through the Bitcoin landscape. On March 14th, 2024, the network witnessed a monumental shift – mining difficulty skyrocketed to a record-breaking 84 trillion hashes. This unprecedented challenge coincides with another significant event on the horizon: the Bitcoin halving slated for April. According to BTC.com, the rate has risen by…
A fierce winter storm that swept much of the US over the weekend forced large parts of the Bitcoin mining fleet to cut power, leaving the network much weaker for a short time. Related Reading Reports say power outages and extreme weather pushed some operators to pause or slow their rigs so local grids could…
Bitcoin miners are experiencing a significant surge, with their collective market capitalization nearing $40 billion. This growth is propelled by Bitcoin's escalating price, which recently approached $100,000, and a consistent rise in mining difficulty, now set for its fifth consecutive increase. The combined market cap of publicly traded Bitcoin mining companies has reached approximately $39.09…
A new Bitcoin improvement discussion is putting one of the network’s most divisive questions back in the spotlight: what should Bitcoin block space be used for? BIP-110, a proposal under developer discussion, aims to limit transaction types to payments and peer-to-peer transfers, a move that could affect inscription-heavy activity such as Ordinals and Runes. TL;DR…
Razer, the multi-billion-dollar gaming equipment manufacturer, released a new program that allows gamers to easily utilize their idle GPUs to mine cryptocurrency. The catch to this seemingly simple program, however, is that users don’t actually get to keep the cryptocurrency they mine. Razer Releases Cryptocurrency Mining Software Called SoftMiner The new program, called SoftMiner, allows…
The bitcoin mining crackdown was one of the major moves by a government that rocked the crypto space. The crackdown saw the mass exodus of bitcoin miners out of the presumed mining capital of the world as the Chinese government ramped up its efforts to push the miners out. During this time, the mining hash…
Bitcoin mining hardware manufacturer Canaan has recorded a net loss of $5.6 million in Q1 2020, despite seeing a huge increase in profits. According to the company’s newly released financial report, its gross profit increased by 417% from Q1 2019, while total net revenues increased by 44%. Unaudited Report Shows Canaan Suffered Huge Losses in Q1According…