Bitcoin Mining

Your PGP Key? Make Sure It’s Up to Date

Identity thieves now have another tool at their disposal: bitcoin hashing power.  That’s the conclusion from a new cryptanalysis paper published earlier this month on SHA-1 (pronounced “shaw”), a once-popular hash function created by the National Security Agency and disapproved in the mid-2000s after failing against theoretical hack attacks. SHA-1 continues to see use in …

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Developer Proposes Decentralized Bitcoin Hashrate Derivatives

</header> <strong>There’s a new concept called Powswap that lets people speculate on hashrate in order to hedge against price volatility. Powswap was developed by the software engineer Jeremy Rubin who believes hashrate derivatives products allow people to leverage new trading strategies.</strong> Also read: Regulatory Roundup: EU-Wide Crypto Regulations, New Rules in Europe, US, Asia Powswap …

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Bitcoin’s Share of PoW Mining Rewards Now Above 80%

Rewards received by bitcoin miners form a major chunk of the salaries paid across major proof of work (PoW) blockchains, according to Yassine Elmandjra, a cryptocurrency analyst from ARK Invest. For example, bitcoin miners were paid over $15 million worth of the cryptocurrency as incentive to mine blocks and secure the network on Jan. 9. …

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Tokyo-Based Zigmabit Offers Mining Rigs for Homes and Offices

</header> <strong>Cryptocurrency mining develops rapidly like any high tech sector. Improvements in the hardware and auxiliary systems make it possible to design mining rigs that are more compact and silent than they used to be, while also profitable to run. Zigmabit is a manufacturer that assembles units suitable for mining not only in industrial-scale datacenters …

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This Metric Suggests Bitcoin Has Bottomed Out

Bitcoin likely carved out a major price bottom in December, according to a non-price metric, which has proved to be a reliable price indicator in the past.  The leading cryptocurrency is currently trading above $7,700, having hit eight-month lows below $6,500 in mid-December. While the bounce is encouraging, the cryptocurrency remains trapped in a six-month-long …

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Japanese Firms SBI and GMO Join the Digital Gold Rush in Texas

</header> <strong>The city of Rockdale, Texas is attracting attention again, similar to the interest the region saw back in the fifties when the Alcoa aluminum smelting facility set up shop. These days, Rockdale’s change is due to the influx of bitcoin miners coming to town from all around the world. A Frankfurt-based operation called Whinstone …

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BTC’s Hashrate Touches 120 Exahash, But the Price Has Not Followed

</header> <strong>On January 1, the <a class=”lar-automated-link” href=”https://markets.bitcoin.com/crypto/BTC” target=”_blank” rel=”noopener noreferrer”>BTC</a> network hashrate touched an all-time high at close to 120 exahash per second (EH/s). Despite the crypto market lull and lower <a class=”lar-automated-link” href=”https://markets.bitcoin.com/crypto/BTC” target=”_blank” rel=”noopener noreferrer”>BTC</a> prices, the 2020 milestone happened just before the blockchain’s 11th anniversary. <a class=”lar-automated-link” href=”https://markets.bitcoin.com/crypto/BTC” target=”_blank” rel=”noopener noreferrer”>BTC</a>’s …

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Authorities in Sichuan Go After Miners to Save Electricity in the Dry Season

</header> <strong>Regional authorities in the province of Sichuan are reportedly pressuring bitcoin miners to scale down operations amid electricity shortages during the dry season in Southwest China. A meeting has been scheduled with regulators, the state run grid operator and mining companies. Two hydropower stations have been fined already for powering bitcoin farms without authorization. …

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Lawsuit Shows How a Public Firm’s $80M Bet on Bitcoin Miners Went Terribly Wrong

In March 2018, shortly after bitcoin’s bull run to $20,000, a publicly-traded Chinese company invested 500 million yuan, worth $80 million at the time, to buy 100,000 bitcoin mining units.  As the bear market kicked in during the months that followed, so, too, did a contract dispute, offering a rare window into Chinese public firms …

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Canaan’s Post-IPO Stock Plunge Reveals Sales Slump, Price War With Bitmain

Canaan’s top-priced model, according to its website, is the “February batch” of the AvalonMiner A1166-68T machine for $1,978, providing 68 terahashes per second at an efficiency of 47 joules per terahash. In this case, a higher efficiency rating is worse, because it indicates more power usage and thus a higher operating cost.