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Ethereum Mining

Powerful New Ethereum Miner Reaches Final Stage Before Mass Production

After a nine-month delay and $3.8 million of investment, an upstart manufacturer is ready to produce its first batch of powerful new machines for mining cryptocurrencies ethereum and ethereum classic. Linzhi, based in Shenzen, China, said Wednesday it had ordered 37 wafers from Taiwan Semiconductor Manufacturing Company, the main parts that will allow it to …

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Iranian Energy Grid Blames 7% Consumption Increase on Bitcoin Miners

<header class=”article__header”> </header> <strong>Mostafa Rajabi Mashhad, the spokesperson for Tavanir, an Iranian state-operated grid entity, has explained that electrical consumption has spiked by 7% in comparison to the previous year. Rajabi blames illegal cryptocurrency mining operations for the country’s increased electrical consumption and has warned that illicit mining facilities will be cut off from the …

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Ethereum’s ProgPow Mining Change Approved Again, But Timeline Unclear

“We’re going back to stuff we were tired of talking about months ago. We decided the only issue is whether there are errors in the algorithm [or] back doors in the algorithm.” So said Greg Colvin during a heated debate during an ethereum developer call Friday over a proposed change to the network’s mining algorithm …

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Ethereum’s ProgPoW Mining Change to Be Considered for Istanbul Upgrade

The code designed to enact ethereum’s next system-wide upgrade, Istanbul, may feature the inclusion of a controversial mining algorithm said to allow for broader participation in its network. Discussed Tuesday during a meeting of project managers working on the world’s second-largest blockchain, Ethereum Improvement Proposal (EIP) 1057, also known as Progressive Proof-of-Work (ProgPoW), has been long debated. …

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Ethereum Mining Pool Receives Mysterious $300K Blockchain Payout

Ethereum mining pool Sparkpool received a payout of over 2,000 ETH (worth $300,000) just for mining one block on the ethereum blockchain Tuesday – a figure that’s about 600 times the network’s standard block reward. Miners who secure blocks are programmed to be awarded 3 ETH (about $500) for every new transaction block added to …

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