The long-running bearish sentiment of cryptocurrency market has claimed another victim. Giga Watt, a US-based Bitcoin mining firm, sent an email to its customers, stating that it has decided to close down operations. The company clarified that it had lost access and power to its mining facilities because it didn’t have adequate funds to continue the…
Just in the past two months, Bitmain has fired more than half of its staff, has closed an entire office in Tel Aviv, has shuffled top management, and removed two of its chief operations officers. And today, the Chinese bitcoin mining giant decided that it would close another overseas workplace – this time in Amsterdam.…
The bear market of 2018 has hit crypto mining companies particularly hard as mining on certain types of hardware is no longer profitable. Falling prices and hashrates have dropped difficulty somewhat but not enough to prevent the founders of the world’s largest mining company to step down as it readies to appoint a new boss.…
Since the Ethereum Constantinople’s activation date was confirmed, a mass of leading crypto researchers, analysts, and commentators have claimed that the pertinent blockchain upgrade is a net positive for this industry. However, a deep-dive, research-backed exposé from an industry insider has gone against popular belief, claiming that Constantinople “couldn’t come at a worse time.” Constantinople…
China’s number-two Bitcoin mining equipment manufacturer, Canaan, is reportedly considering an initial public offering (IPO) in the United States. The new development comes after the company shelved plans to go public in Hong Kong just a few months ago. Although an IPO would be a great way for Bitcoin mining companies to raise funding, the…
As Bitcoin and crypto prices continue to fall profitability from mining using certain types of hardware inevitably follows suit. Japan has a number of high profile corporations heavily invested in mining operations and it looks like they are about to pull the plug. Closure of Crypto Mining Hardware Production and Farms According to reports in…
While Bitmain has made forays into artificial intelligence and other budding markets, at heart, Bitmain is a Bitcoin– and crypto-centric mining startup. So, it should come as no surprise that industry participants were shell-shocked when hearsay arose that Bitmain was poised to shutter a number of its mining-related ventures. However, one crypto analyst has claimed…
A 28-year-old cryptocurrency entrepreneur from the UK has managed to turn £1,000 (around $1,500) into over £1 million in just 18 months of trading. Josh Riddett, of Bury, Greater Manchester, has found success manufacturing specialist digital currency mining hardware. Riddett’s company, Easy Crypto Hunter, has expanded from the sale of a single unit, with profits…
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…
Many have been wondering which group represents the majority of crypto bears recently as prices keep plummeting. Those that got into crypto within the last year have likely fled the scene with tails between their legs and burnt fingers. That leaves long term hodlers, institutional investors, and Chinese crypto miners. Chinese Miners Playing the Short…