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Mining

7 Unorthodox Ways to Mine Bitcoin

<header class=”article__header”> </header> <strong>Bitcoin isn’t crazy – in fact it might just be the soundest monetary system this generation has ever known. Some of the techniques miners have devised to extract it, however, are extremely unorthodox, ranging from the ingenious to the downright crazy. Here are seven of the strangest attempts at extracting bitcoin ever …

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Privacy-Focused Coin Zcash Forks Into New Blockchain Network Ycash

Privacy-focused digital currency Zcash (ZEC) has forked into a new blockchain network dubbed Ycash, whose total supply amounts to 21 million coins. According to a tweet by the Ycash Foundation, the first block of Ycash was mined today, July 19, at 7:36:51 PM PDT. Ycash forked off Zcash blockchain at block height 570,000 and is …

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Bitcoin Mining Helps Oil Companies Reduce Carbon Footprint

</header> <strong>Natural gas acquired as a byproduct of oil extraction has become synonymous with wasted energy. In certain areas, drilling companies are unable to find a profitable market for the excess fuel. It’s often vented into the atmosphere. Startups are now offering on-site systems that utilize the surplus to mine cryptocurrencies. This new business is …

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Polychain Leads $7 Million Round in Crypto Trading Desk Altonomy

Altonomy, a cryptocurrency trading desk, has closed a $7 million financing round from Polychain Capital. The company, founded by Ricky Li, is also funded by 7 Blocks. “As a liquidity provider for altcoins, more funding will allow us to have more inventory, taking larger exposure and managing risk more effectively,” said co-founder Li “We don’t …

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BTC and LTC Halving ‘Shock’ May Be Mitigated by Merged Mining: Report

The effect of block reward halvings for both Bitcoin (BTC) and Litecoin (BTC) mining could be mitigated by merged mining, according to a report by a research arm of major crypto exchange Binance released on July 12. Following Charlie Lee’s prediction that some miners may shut down Litecoin mining after the halving, which is expected …

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Police in China Seizes 4,000 Crypto Miners After Abnormal Energy Spike

Police in China arrested 22 suspects allegedly involved in illegal crypto mining activity that led to energy loss worth of about $3 million, local media outlet XinhuaNet reports on July 12. Police in Jiangsu, China’s eastern-central coastal province, have reportedly seized 4,000 hardware units that were illegally used to mine cryptocurrency such as Bitcoin (BTC) …

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Chia Releases Green Paper Detailing Eco-Friendly Means of Crypto Mining

San Francisco-based tech firm Chia Network has released a green paper that describes an eco-friendly means of mining cryptocurrencies. The green paper provides a description of how proof of space and proof of time create a “Nakamoto-style” consensus algorithm for Chia’s blockchain. Specifically, Chia proposes to “farm” rather than mine to verify blockchains that issue …

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Bitcoin Mining Profits Skyrocketed 24% Last Month, Argo Blockchain Reports

United Kingdom bitcoin (BTC) mining operator Argo Blockchain surpassed its own expectations in Q2, the company said in a new report released on July 2.  Argo, which previously said it had benefited from the upturn in bitcoin prices, said revenues would continue to improve over previous estimates.  “The Company now expects to generate 161 BTC, …

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Confronting Bitcoin Network Issues Using Nakamoto Consensus and a Mining Parliament

<header class=”article__header”> </header> <strong>On June 28, Bitcoin Cash proponent Javier Gonzalez announced the launch of an interesting protocol called the Bitcoin Mining Parliament (BMP). The theory behind BMP is backed by the concept of Nakamoto Consensus where “miners are the executive power of Bitcoin” and “any needed rules and incentives can be enforced with this …

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Iranians Defy Warning and Share Pictures of Bitcoin Mining in Mosque

<header class=”article__header”> </header> <strong>On Tuesday, the Iranian energy grid corporation Tavanir warned illegal bitcoin mining operations that they would be cut off from their supply. Following the announcement, pictures of a mining facility set up in a mosque went viral on social media.</strong> Also Read: Iranian Energy Grid Blames 7% Consumption Increase on Bitcoin Miners …

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