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ASIC miners are hugely profitable machines – provided you’re the manufacturer. That’s the view of Siacoin lead developer David Vorick, who’s published his thoughts on the monopoly enjoyed by manufacturers such as Bitmain and Halong Mining. In “The State of Cryptocurrency Mining”, Vorick also accuses manufacturers of using the machines themselves, before passing them on … Read more
With 80 percent of all bitcoins already mined, and the hashrate of the network reaching all-time highs, in today’s Bitcoin in Brief we are covering some news from the world of crypto mining. An Italian company is developing mobile mining farms, while in Russia a mining hotel offers an opportunity to legally earn cryptocurrency. And, … Read more
On April 3, 2018, the Chinese based firm Bitmain Technologies had launched it’s latest miner the Antminer E3. The new pre-manufactured mining rig processes the hashing algorithm Ethhash, the PoW consensus protocol for the Ethereum network. Lately, Bitmain has been releasing a bunch of new products including the Antminer X3 which mines Cryptonight algorithms for … Read more
A large illegal facility for mining bitcoin was discovered by police in the Russian city of Orenburg. The farm has been set up on the premises of an abandoned factory. The masterminds of the crypto project have stolen electricity worth 60 million rubles. They risk years of imprisonment. Also read: Bitmain Opens Repair Center … Read more
Leading manufacturer of crypto mining equipment Bitmain has opened a service center in Russia. Miners in the country will be able to repair their ASIC rigs locally, saving both time and money. Previously, they had to send faulty equipment back to China, dealing with customs formalities and paying costly shipping. Also read: Ant Creek: … Read more
This week the owner of the web portal Bitcoin.org and Bitcointalk, a pseudonym called Cobra wrote an open letter to the bitcoin community asking them to think about changing the Bitcoin core network’s Proof-of-Work algorithm. Also read: Ross Ulbricht Denied Post-Conviction Relief Extension Bitcoin.org Owner ‘Cobra’ Says Bitcoin Mining Is Controlled By One Man and His … Read more
The wealth of bitcoin mining titan Bitmain has long been assumed to be north of “huge”. Thanks to its near-monopolization of the ASIC manufacturing business, Bitmain has effectively had a license to print money. This week, Bernstein analysts released a report into Bitmain’s operations. It estimates the Chinese firm to have made $3-$4 billion last … Read more
This week the Canadian firm, Hive Blockchain, announced it would be starting a $100Mn USD mining operation in Sweden. Hive’s CEO says the mining center will “ten times bigger” than the company’s Iceland mining centers. Also Read: Markets Update: Cryptos Look for Relief After South Korea FUD Causes Losses Hive Blockchain Is Starting a Mining Operation … Read more
Just recently in an interview with Québec’s local publication, Le Journal, the CEO of the public utility company Hydro-Québec wants to attract cryptocurrency miners to the region to help bolster economic prosperity. Also Read: Chinese Bitcoin Miners Explore Relocating Abroad Amid Fears of Crackdown Hydro-Québec Needs a Solution to Avoid Energy Tariffs Hydro-Québec is a large … Read more
This is an Op-ed article written by Arseny Reutov. The opinions expressed in this article are the author’s own. Bitcoin.com does not endorse nor support views, opinions or conclusions drawn in this post. In late October, Bitcoin Gold forked from Bitcoin as a new cryptocurrency, and immediately became the victim of a Distributed Denial of … Read more
