As the world’s largest crypto by market cap hurtles past 11k, the demand for new Bitcoin mining equipment is exceeding supply. Now, manufacturers are feeling the pressure to produce enough machines to meet this demand.
Bitcoin miners in China are increasingly looking for diversification out of the country because of the anticipated crypto mining ban, the Chinese government’s thoughtful position regarding cryptocurrency, and the increasing pressure from the ongoing trade war with the US.
According to Reuters, China’s state planner wants to ban Bitcoin mining. The National Development and Reform Commission (NDRC) has updated a draft list of industrial activities that it is looking to encourage, restrict, or eliminate.
Bitmain Technologies has abandoned its IPO enthusiasm after the company’s Hong Kong stock market proposal listing expired earlier this week, sparking debate on the future of the entire cryptocurrency market.
Coinbase’s CTO, Balaji Srinivasan, has just announced his thoughts of the future of home cryptocurrency mining. Bitcoin mining and crypto mining in general are a huge industry, which exploded last year when digital currency interest hit mainstream. A new startup is trying to take another stab at popularizing at-home cryptocurrency mining, a business model that has not been successful in the past.
Coinbase’s CTO, Balaji Srinivasan, has just announced his thoughts of the future of home cryptocurrency mining. Bitcoin mining and crypto mining in general are a huge industry, which exploded last year when digital currency interest …
Teachers Mine for Ethereum: Mining for cryptocurrency comes with its controversy. Energy consumption is already the most eyebrow-raising aspect. So what about using the local school’s computers to mine for Ethereum… during school time? Oh, and you’re the principal of the school.
At the beginning of 2018, Iceland made headlines because of its heavy involvement in crypto mining. Because the country is an ideal climate for mining, Iceland is home to one of the world’s largest crypto farms.
Bitmain Adds Ethereum Mining Pool: The world’s largest Bitcoin mining pool is cheating on Bitcoin. Bitmain’s BTC.com is expanding to add an Ethereum mining pool which will initially support both Ethereum and Ethereum classic.
Regulating cryptocurrencies has been a hot topic for years now. While some believe regulation would be hypocritical to an ethos whereby users govern their own network and money, is there anything to be said for …
Back in January 2018, Spotlite USA showcased a new Bitcoin miner called the KashMiner.
Chinese crypto miner arrested: A man has been arrested in the Anhui Province of China for allegedly stealing 150 megawatts (MW) of electricity.
In Murphysboro, a town in Illinois, there lies an abandoned factory. For a while, there was no use for it; but now there is. A Vancouver-based developer, with the help of spokesperson William Shatner, recently announced its plans to turn the deserted Illinois factory into a Bitcoin mining operation. It will be an operation that is solar-power based.
In 2018, the topic of crypto mining, otherwise known as crypto farming, has come up quite a bit. There’s been a lot of crypto mining news circulating the masses over the last few months, primarily because we have seen various nations take a step back from crypto farming. Why? It boils down to the issue of supply and demand.
As Bitcoin grows, the level of power consumption needed to mine grows too. This is an area which is also receiving increasing attention. A new study published in the American Journal of Energy Academics Joule claims that by the end of 2018, Bitcoin network’s power consumption may account for 0.5% of the global total.
Nvidia has shown incredibly bullish behavior that is undoubtedly linked to the rise of cryptocurrencies. The high demand for Nvidia GPUs in the marketplace has helped Nvidia have a successful year. It is also a sign of the growing interest in crypto mining and how much interest has been growing in the general public:
The United Nations Children’s Fund (UNICEF) is starting to get involved in crypto mining. On Monday, the organization disclosed to the public that it created a website which means users can now engage in crypto mining for charity. There’s a catch, though. This mining will only be possible with help of supporters’ computer processing power.
There’s a lot going on in the crypto sector. Some are calling for more crypto regulation, others are warning investors of the multiple crypto risks. Then, there are countries like Canada, the United States, and Iceland – all of which are warning the masses of crypto mining energy concerns, due to the overload of crypto mining requests.
Today, the province of Québec made the announcement regarding Hydro Québec that I have been waiting for this entire month. What Happened? It all started on March 4, when I reported that the Canadian province is unsure of whether Hydro-Québec can power all of the projects interested in cryptocurrency mining in the province. Similar to Iceland, Québec has transformed into an international hot spot for cryptocurrency mining, bringing in more than 30 applications to mine in the province in January. As profitable and exciting as this may seem, it’s actually quite worrisome as the demand is starting to exceed the province’s supply. On Friday, March 23, Québec confirmed that it has, for the time being, halted the development of new cryptocurrency mining projects in the predominantly French-speaking province. Why? Exactly for the reasons mentioned above: Hydro-Québec can’t power new projects due to the increasing demands of existing operations. At the start of the month, Québec Premier Philippe Couillard stated that the Québec government is not interested in providing cheap electricity to virtual currency miners through Hydro-Québec. Couillard then went on to say that if people want to set up cryptocurrency mining projects in the province, there has to be “added value for our society.” Today, the province’s Minister of Energy and Natural Resources, Pierre Moreau, said that crypto mining involves the use of a lot of energy, and it does not generate enough jobs in comparison to other factories in Québec. It appears Hydro Québec itself agrees. The state utility published a report of its own today, stating that it is not possible to power every cryptocurrency mining project that has requested to set up in the province. Therefore, the most logical answer is to just halt all of the incoming projects, for the time being, so Québec can get back on its feet. What do you think? Was this the right move?
The province of Québec is known for a lot more than just its poutine and coffee. In fact, Québec has quickly become one of the top locations for cryptocurrency farming. This has caused the province to become flooded with cryptocurrency mining operators from all over the world. While this might sound like it would be good business for the province, it hasn’t been all fun and games.
Watch out! There is a Monero worm on the loose. Chinese cybersecurity firm 360 Netlab have reported that a Monero (XMR) worm which harnesses android devices to mine the coin and send it to a single digital wallet, is currently active.
Where are the next bitcoin mining hotspots now that China is out of the running?
As the world turns more to technology than it ever has before, many scientists have speculated that robots and automated machines backed by artificial intelligence will continue to replace jobs done by humans. You see it happening now with self-checkout counters at grocery stores and even some fast food restaurants have added screens in their stores that you can order from, instead of having to go to the counter to order your food of choice. With that said, not many people have come up with reasonable solutions and alternatives to these jobs being replaced.
There’s a new malicious software going around that allows hackers to mine the cryptocurrency Monero directly off of any computer that it’s been installed on.
In Buenos Aires, a customer has filed a formal complaint about the cafe giant Starbucks for illegally mining Bitcoin using his laptop.
It’s not news to say that Bitcoin mining operations have had an effect on energy consumption; there has been a lot of debate surrounding the subject already. But there has recently been further links found between Bitcoin mining and energy consumption that are worth talking about.