Bitcoin Miners Are Investing Again, Expecting a Cheap Power Boom Soon

Bitcoin miners in China are buying used equipment and making deals with mining farms and hydroelectric plants, betting abundant water this summer will make their businesses profitable again. That’s because during this season a significant amount of excess electricity is expected to be generated by hundreds of hydropower stations, especially in China’s mountainous southwestern provinces […]

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51% Attacks for Rent : The Trouble with a Liquid Mining Market

Anthony Xie is the founder of HodlBot, a tool that helps investors diversify their portfolios and automate their trading strategies. ––––––––– In order to remain decentralized, cryptocurrencies using a proof-of-work system must not allow a single party to control the majority of total hashing power. But as the global pool of hashing power grows more […]

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Bitmain Announces New, More Efficient 7nm Bitcoin Mining Chip

Bitmain Technologies has announced a new 7-nanometer bitcoin mining processor that it says offers new levels of energy efficiency. The new ASIC (application-specific integrated circuit), called the BM1397, is said to provide improvements in performance, chip size and energy efficiency for mining proof-of-work cryptocurrencies based on the SHA256 algorithm, such as bitcoin (BTC) and bitcoin […]

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Co-Founder Quits Avalon Mining Chip Maker Canaan Over ‘Differences’

One of the three co-founders of Canaan Creative, maker of the Avalon cryptocurrency mining equipment, has stepped down from the Chinese company’s leadership. According to government business registration data updated on Jan. 30, Xiangfu Liu will no longer serve as a board member at the Hangzhou-based Canaan Creative – a role he had served since […]

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Ethereum Miner Linzhi Calls Out Project Coders for Proposed ASIC Ban

Shenzhen-based miner manufacturer Linzhi has published a statement in response to a “tentative” decision, made by ethereum developers Friday, to block specialized hardware, or ASICs, from securing the platform in exchange for rewards. This would involve the implementation of “ProgPoW” in an upcoming upgrade, a code change that is optimized for graphic card, or GPU, hardware. […]

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E-Commerce Giant DMM Quits Cryptocurrency Mining Business

Japanese e-commerce giant DMM.com is reportedly in the process of winding down its cryptocurrency mining business, less than a year after it set up the operation. A news report from Nikkei on Dec. 30 said DMM made the decision to withdraw from mining in September 2018 as the overall cryptocurrency market slump led to deteriorating profitability […]

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Crypto Analyst: Shutdown Of Bitmain’s Mining Operations Isn’t A “Big Deal”

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 […]

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