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Mining

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MINING

 
The process that results in the release of certain amounts of a particular digital currency into its circulating supply. Mining is often the process that governs the verification of transactions and the addition of blocks to a blockchain.

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Authorities Uncover Illegal Bitcoin Mining Farm In Kyrgyzstan
Federal authorities have uncovered a large illegal Bitcoin mining site in Kyrgyzstan in the territory of the Bishkek Free Economic Zone.

Bitmain Partners With Digital Currency Group's Foundry to Fuel Crypto Mining Business in North America
Crypto mining giant Bitmain has announced that it will be partnering with crypto mining firm Foundry to extend its services to North America.

Grayscale Investments Parent Company DCG Invests $100 Million Into Bitcoin Mining
Grayscale parent company DCG has announced its entry into Bitcoin mining.

World's Second Largest Bitcoin Mining Company Raises $90M in US IPO
The world’s second-largest bitcoin mining equipment producer, Canaan Inc. raised $90 million during its initial public offering (IPO).

117 Smuggled Crypto Mining Machines Seized by Iranian Police
The Iranian provincial police had apprehended an individual who was said to be smuggling in cryptocurrency mining machines. This was reported by the local news agency Fars News, on July 31.

Kazakhstan to Secure $700 Million Funds to Boost its Bitcoin and Crypto Mining Projects
Kazakhstan's government is trying to secure a $700 million investment and reports that it is on track with its crypto mining farm project.

Heaven for Bitcoin Miners? Iran Officially Legalizes Crypto Mining
The Iran Chamber of Commerce, Industries, Mines and Agriculture recently published a statement that the Iranian Economic Commission has approved a mechanism for digital coin mining.

Chinese Bitcoin Mining Giant Canaan Files for $400m US IPO
One of China’s largest bitcoin mining hardware makers, Canaan Creative, publicly filed for a U.S. IPO on Monday, The Block Reports.

Australian Federal Agency Ex-Employee Evades Prison Despite Illegally Mining Ether and Monero on Supercomputers
A former employee of an Australian federal agency avoided prison despite mining cryptocurrency on government supercomputers.

Iranian Power Plants to Supply Surplus Power to Bitcoin and Crypto Mining Farms
Power plants in Iran are considering supplying surplus electricity to Bitcoin and cryptocurrency mining farms in the nation.

Ethereum's Vitalik Buterin Thinks Mining Monero on HTC Phones is a “Fool’s Game”
Ethereum co-creator has downplayed the partnership between HTC and Midas Labs, which enables Monero mining on mobile phones.

Bitcoin on Showtime: Winklevoss Biographer Writes BTC Mining Plot for Billions
Sunday’s episode of the Showtime series Billions featured a cryptocurrency mining scheme being executed in a prep school.

Chinese Police Put MicroBT CEO Under Microscope Over Alleged Dispute With Bitmain
Chinese Police have just resumed its investigation of intellectual property infringement involving Yang Zuoxing, CEO of Shenzhen Bit Microelectronics Technology and Bitmain.

Chinese Authorities Pressure Bitcoin Miners to Scale Down Operations
Authorities in Sichuan, China has been reportedly pressuring Bitcoin miners to scale down their operations due to electricity shortages. During the dry season, extending from October to April, the electricity supply drops in the province.

Sparks Fly: Bitcoin and Ethereum Debate on ETH’s Total Supply Goes Viral
Over the past few days, a central debate has been ongoing on crypto Twitter, fueled by Bitcoin and Ethereum advocates. Both Bitcoiners and Ethereans disagree on which cryptocurrency is better for use.

Malware Botnets Hijacked Microsoft SQL Databases to Mine Cryptocurrency Causing Concern
Guardicore, a cloud security and data center firm, has issued a report showing how a malware botnet, tracked as Vollgar botnet, has been hijacking Microsoft SQL Server (MS-SQL) databases around the world and forcing them to mine the cryptocurrencies Vollar and Monero.

COVID-19 Hits Canadian Crypto Mining Firm Bitfarms, Forced to Lay Off Staff to Maintain Cost Efficiency
Publicly-listed Canadian crypto mining form Bitfarms has temporarily reduced employees because of the social and economic challenges caused by the coronavirus outbreak.

Bitmain's Board Makes Decision Ousting Co-Founder Ketuan Zhan
Bitmain has changed its company structure in the registration filing with government agencies. Leading to Wu becoming executive director and legal representative of the company.

UK Research Shows 66% Control of Hash Rate is Coming From China
Reporting on a study developed by UK based company CoinShares, as much as 66% of global hash rates come from and are controlled by Chinese Entities.

China Allows Building of Hydroelectric Plant in Well Known Bitcoin Mining Town
Government authorities in China have allowed construction to go ahead to increase the capacity of current hydroelectric plants in the Ya'an district of Sichuan, a town popularly known in cryptocurrency circles to be teeming with Bitcoin miners.

Bill Gates Foundation’s COVID-19 Vaccine is a Satanic Plot says Oscar-Winner
Microsoft’s recent patent for a human powered crypto mining system based on sensors that convert physical or mental activity into computer power has generated a lot of interest and captured the imagination of the public, but perhaps some are looking a little too closely.

Mina Stones to Propel Ethical Mining in Africa via Credits Blockchain
Mina Stones, a pioneer of Handcrafted African Fine Jewelry, seeks to avert the unethical mining problem in Africa by using Credits blockchain to alter the present gemstones supply chain.

IMF Educational Cryptocurrency Video Receives Backlash from Bitcoin and Crypto Experts
A video posted by the International Monetary Fund (IMF) on its social platform has generated a lot of criticism from the cryptocurrency community.

The Fate of Cryptocurrencies in a Fast-Changing Financial Ecosystem
Cryptocurrency being a digital currency, created and managed through the use of advanced encryption techniques known as cryptography has been gradually modifying the world of finance as well as other sectors such as e-commerce and since its creation in 2009.

Bill Gates Denies COVID-19 Vaccine Microchips and Satanic Conspiracy Theories
Bill Gates, Microsoft Founder and billionaire philanthropist, has responded to conspiracy theories that his charity foundation is planning to use the coronavirus vaccine to implant microchips into the global population. The conspiracy itself appears to have started with a patent for a very innovative cryptocurrency mining system filed by Microsoft earlier this year.

Tables Turn for Japanese Man After Being Convicted for Secretly Installing a Crypto Mining Program
The Tokyo High Court has dismissed the acquittal of a 32-year-old Japanese man who had been let off the hook by the Yokohama District Court in March 2019 after being accused of unlawfully inserting a cryptocurrency mining program dubbed Coinhive.

New York-Based Power Plant Greenidge Generation Mines $50,000 Worth of Bitcoin on a Daily Basis
Greenidge’s 65,000-square-foot facility was initially built in 1937 as a coal plant before eventually being closed down in 2011. The plant remained dormant for five years before Atlas Holdings, Connecticut-based private equity company, converted it into a natural gas plant in 2016 to generate clean energy. Because of the high power that crypto mining machines use in their operations, countries have initiated stricter measures to discourage miners from conducting their mining activities. Some of these measures involve increased electricity fees, which have compelled most miners to move to other cities with favorable electricity billing.

Bitcoin Hash Rate Remains Steady as Miners are Wiped Out by China Floods
Recent China floods did not affect the Bitcoin network hash rate. However, some miners were not spared as they were wiped out.

World Economic Forum Partners with Mining Companies to Design Blockchain Solutions
According to a Medium post released on Oct. 25, seven major mining and metals companies have decided to partner with World Economic Forum (WEF) to experiment, design, deploy blockchain solutions and sustainably maximize blockchain sourcing of raw materials.

Ukrainian Security Department And Law Enforcement Uncover a Crypto Mining Farm in a Railway Subdivision in Lviv
According to a report, Ukrzaliznytsia has uncovered a hidden cryptocurrency mining farm in the Lviv railway subdivision, which has been making use of the country’s electricity without paying for it. This secret mining company was discovered by Ukrzaliznytsia's security department, in conjunction with law enforcement officials.

Hypervine Pilots Blockchain-Enabled Satellite Data Project to Curb Climate Impact of Mining Sector
Hypervine, a blockchain construction company based in Glasgow, Scotland, has revealed the kicking off of a blockchain-powered project that will utilize satellite data to boost efficiency in the mining industry. Expressly, it will be funded by the European Space Agency (ESA).

China's Bitmain shows Bitcoin Mining remains Profitable After Posting $300 Million in Revenues
Bitmain, one of the largest mining equipment makers globally, has reported revenues of $300 million thus far in 2020. While its business has faced turmoil in recent times, the core strategy continues to reap benefits.

Why Energy Experts are Watching the Crypto Market Closely
Words like Bitcoin and Oil Market seem to have no correlation between them. However, given the kind of small world we are living in, there's more than meets the eye. Check out this article which explains the perfect correlation between Bitcoin and Oil Market and why energy experts are keeping a close watch on the crypto market.

May 13: ALT Coins Give You Wings
Trade Strategy: Similar to yesterday. I've closed my long volatility trades, and will start to sell some volatility here and whenever it spikes. While implied volatility has sharply declined from 100% to 80% since Sunday, the longer-term average before the 12 March crash is around 55-60% so there's still juice to be short vol.

Matrixport's Evolved Enterprise-Grade Cactus Custody and Holistic Approach to KYT and AML Compliance
Matrixport is a Singapore-based cryptocurrency startup which was launched by former Bitmain CEO Jihan Wu. Established in July 2019 with the goal to offer over-the-counter trading, lending and custody services for crypto, Matrixport boasts a systematic security model, global distributed infrastructure and business-focused security innovation capability to assure the security and reliability of users' assets.

Matrixport: Jihan Wu's Spin Off Start-up Meeting Demand for Cryptocurrency Services Beyond Bitmain's Mining Ecosystem
Cynthia Wu is the Head of Business Development and Sales at Matrixport where she is also focused on building business for Cactus Custody and managing Matrixport’s key investor relations. In this first part of our exclusive interview, Wu shares her insights with Blockchain.News on the state of the Bitcoin mining, the surge in Bitcoin’s Hashrate and the potential impact that the coming Bitcoin halving will have on Bitcoin miners.

PowerGhost: The Mining Malware to Watch in 2020
In Part 3 of the interview, Yeo Siang Tiong, General Manager for Southeast Asia, Kaspersky shared with us the state of cryptocurrency mining malware and he believed we should watch out for Powerghost in 2020! Yeo also explained the cybersecurity solutions of Kaspersky on quantum computing.

Amun AG, on 7 Unique Metrics of Bitcoin Valuation
We have exclusively spoken with Lanre Jonathan Ige, Researcher of Amun AG on the limitations of traditional valuation approach and some unique metrics for Bitcoin valuation.

Microsoft Patents Cutting Edge Human-Powered Crypto Mining System
Microsoft has filed for a patent for a cryptocurrency mining system that will leverage the data collected from people as they interact with advertising or exercise.

Microsoft’s Crypto Patent Fuels Another Right Wing Satanic Conspiracy By Ex-CIA Agent
Ex-CIA agent Kevin Shipp has dragged Microsoft's crypto-mining patent right back into the center of another right-wing conspiracy.

US National Lab Computer Scientists Deploy Artificial Intelligence (AI) to Thwart Illegal Crypto Mining
Los Alamos National Laboratory has created an artificial intelligence (AI) system capable of identifying malicious codes that mine cryptos such as Bitcoin.

Chinese Police Discover Illegal Bitcoin Mining Activity in Mysterious Graves
Police in China recently discovered illegal Bitcoin mining, which was buried underneath a local cemetery. Power losses within the area caused the initial suspicion. A Chinese oil field company submitted a tip to the local police requesting them to investigate suspicious power losses in the northern city of Daqing, Heilongjiang province. The police officers arrived at the scene and spotted mysterious two grave mounds lying in the field.

Riot Blockchain Sees Growth in Q1 2020 Despite COVID-19 Disruption
Riot Blockchain Inc., one of the few listed public cryptocurrency mining companies in the United States on Nasdaq, reported financial results for Q1 of 2020, which ended on March 31. The company has seen a small growth in its earnings per share during this quarter. Riot Blockchain previously changed its name from Bioptix in 2017 after shifting its focus from biotechnology to Bitcoin mining. The company’s share price skyrocketed to a $38 high in late 2017, which then fell to $110 after Riot was accused of misleading investors by capitalizing on public interest in blockchain to drive up its share price. These claims have been dismissed on the basis that it was not proven that the company’s name was changed to drive up the share price.

Crypto Miners Allege Chinese Bitcoin Mining Giant Delivered "Defective" Product
Ahead of Bitcoin’s much-awaited halving event on May 12, a group of miners alleged Bitmain’s latest “Antminer” deliveries were defective and led to losses for investors.

Bitcoin Educator Andreas Antonopolous Believes Oil Price Crash Gives US Bitcoin Miners an Advantage
Following the oil market crash in April, electricity prices have continued to fall globally. Bitcoin educator Andreas Antonopoulos believes that despite the disruption to industries, the oil market downturn could give US cryptocurrency miners an advantage.

Iran to Pump Liquidity in Economy by Permitting Power Plants to Mine Bitcoin
Iran has given power plants the green-light to undertake Bitcoin mining on a large scale as this will spur economic growth from the revenue generated. Nevertheless, interested parties must adhere to various regulations like not using subsidized fuel to extract Bitcoin and other cryptocurrencies.

European Crypto Miners Share Insights About Their Local Mining Industry
dGen, a non-profit research organization, in its report, has revealed that the cryptocurrency miners in the European region believe that Europe's higher electricity prices as compared to that of Russia and China is due to the strict regulation, strong protections, and political stability.

Bitmain Business Booming Despite Public Feud Between Co-Founders Jihan Wu and Micree Ketuan Zhan
Bitcoin mining giant Bitmain, continues to grow despite the public feud of its co-founders Jihan Wu and MicreeKetuan Zhan dominating the news over the last year.

Jihan Wu Regains Control Of China Bitcoin Miner Making Giant Bitmain
Jihan Wu has regained his status as legal representative and executive director of Bitmain stripping Micree Zhan of broad controlling powers.

Bitmain Launches Cheaper Mining Machines After Bitcoin Halving and Losing Market Share to MicroBT
Bitmain has launched a cheaper version of a Bitcoin mining machine, Antminer T19, compared to its more pricy predecessor Antminer S19. Bitmain has been losing its market share to its rival, MicroBT, which launched its M30S++ Bitcoin miner in April this year. The Antminer T19 has a hashrate/ mining power of 84 terahash per second (TH/s), and power efficiency of 37.5 joules per terahash (J/TH). The price of this new mining machine is around $1750, while the S19 costs around $1785.

China Accounts for 65 Percent of Bitcoin’s Hash Power, New Research Reveals
An interactive map published by the University of Cambridge’s Alternative Finance Center (CCAF) revealed Chinese miners accounted for 65 percent for the global hashing power used by Bitcoin. The CCAF tracked mining data for over a year from websites like BTC.com, ViaBTC, and Poolin, with the premier university claiming the map is the first-of-its-kind effort in visualizing hash power data by geography.

Bitcoin Halving: Everything You Need to Know in 5 Minutes
In May 2020, Bitcoin is expected to experience its third halving in history. Bitcoin halving refers to the halving of Bitcoin block rewards, which occurs once every 210,000 blocks created (approximately every 4 years).

Bitcoin Pizza Guy and the Tenth Anniversary of the Most Regrettable Purchase in Human History
On May 22, 2020, the 10th anniversary of Bitcoin Pizza Day will be marked. It is because ten years ago, on this day Laszlo Hanyecz, aka ‘Bitcoin Pizza Guy,’ traded his 10,000 BTC for two Papa John’s Pizzas with eighteen-year-old Jeremy Sturdivant, aka jercos.

Red Alert: Ripple Effects of Coronavirus on Chinese Electronic Manufacturers and Bitcoin Miners
The scourge of the coronavirus has led to the temporary closure of factories in China with the electronic industry supply chain being hit the hardest forcing an extension in the Lunar year holiday following the outbreak of the virus.

What are the Top 5 Blockchain Market Events to Watch in Q2 2020?
Looking ahead to Q2 2020, what are the top 5 blockchain market events to watch? This article provides a simple guide for you!

Bitcoin Transaction Fees Soar After Block Reward Halving
Bitcoin transaction fees continue to soar after halving.

Hacking 101: Security of Bitcoin Wallets, From a Hacker's Point of View
The safety of crypto wallets was recently questioned, after an incident where a Bitcoin address was successfully hacked.

Ethereum Launches ETH 2.0 Multiclient Testnet - Medalla
Ethereum software developers proudly launched the blockchain project they have been perfecting these past few months, the Ethereum 2.0 multiclient testnet, Medalla.

Ethereum's Vitalik Buterin Concerned About Security Risks That Come With High ETH Transaction Fees
By now, it is no secret that Ethereum co-founder Vitalik Buterin and his team are busy perfecting Ethereum 2.0 and preparing it for its official launch.

Ethereum Revamps Website And Transitions to Staking with Latest Testnet Release
Ethereum Foundation is transforming their website and adding new designs to ethereum.org to deliver a more user-friendly and educational experience for the Ethereum community.

Malaysian Crypto Miners Caught Stealing $59,700 of Electricity from State on Monthly Basis
Malaysian police recently arrested five cryptocurrency mining operators that were caught stealing electricity from a state-owned power company, Sarawak Energy Berhad (SEB).

Kazakhstan Intends to Attract Over $738 Million in Crypto Investments in Next Three Years
The government of Kazakhstan is making plans to attract $738 million in investments related to cryptocurrencies and digital mining activities set up with the nation over the next three years.

DoJ Charges BitClub Promoter for Role in $722 Million Crypto Fraud Scheme
A Californian man pleaded guilty for his involvement in perpetrating BitClub Network, a cryptocurrency mining scheme that generated at least $722 million.

US Prosecutors Unseal Indictment of $20 Million Dollar Cryptocurrency Ponzi Scheme
US prosecutors have recently indicted a group of investment scammers who have orchestrated a cryptocurrency mining fraud following a Ponzi scheme protocol.

Malaysian Authorities Shut Down Illegal Bitcoin Miners For $600K Power Theft
Malaysian police have shut down two illegal Bitcoin mining operations which had been siphoning power continuously for the past three years.

Protests Erupt as Alexander Lukashenko Wins Disputed Landslide Election in Crypto Forward Belarus
In Belarus, a highly contested election victory for longstanding President Alexander Lukashenko over Svetlana Tikhanovskaya has erupted in protests. Despite the dispute, the Soviet forged dictator’s stay of power may be good news for crypto.

American Fugitive Wanted for $722 Million Crypto Scam Arrested in Indonesia for Child Sex Offenses
An American fraud fugitive wanted by the US Federal Bureau of Investigation (FBI) for a $722 million cryptocurrency scam has been nabbed in Jakarta, Indonesia, for child sex crimes.