The total hash power of almost every major coin has been rising exponentially this year, which is raising major concerns about the industry’s high level of power consumption. While most profitable miners have access to subsidized electricity, the industry needs to move to renewable energy to minimize environmental impact. [Note: This is a sponsored article.] Environmental Impact The past thirty years have been characterized by a huge push for environmental conservation, with study after study
Chinese Bitcoin mining farms are reportedly receiving immediate cease and desist notices from authorities. Bitcoin Mining Now ‘Illegal’? Evidence surfacing on Twitter added to an article from local news outlet Caixing today, which stated electricity supplier in Szechuan province had said Bitcoin mining was now “illegal.” “Immediately stop supply power to bitcoin mining businesses upon receiving this notice,” a translated notice proclaiming the ban uploaded by 8btc and translated on Twitter states. If true, the
With the crypto craze seemingly only beginning, a few non-crypto companies have leveraged themselves to capitalize early. And it’s these companies’ stocks that are reaping the benefits of such first-mover status in the explosive crypto space. Early Birds Get the Worms: CME, Graphics Processors Companies Are Ones to Watch Graphics Processing firms like AMD and NVIDIA have had strong performances in the stock market so far in 2017 courtesy of an explosion of user interest
As the civil war between Bitcoin and Bitcoin Cash intensifies, a new contender is entering the battlefield on November 12, 2017: Bitcoin Gold (BTG). Bitcoin holders at the moment of the Bitcoin Gold launch are receiving an equivalent number of BTG. Bitcoin Gold Makes its Debut Bitcoin Gold is making its official entrance while Bitcoin Classic shuts down and the Segwit2x hard-fork is canceled. And, most significantly, a civil war is raging within the cryptocurrency
The website for Ultimate Fighting Championship (UFC) is the latest victim of the Coin Hive malware that secretly mines for Monero cryptocurrency. In the world of sports, few things are as hot as Ultimate Fighting Championship (UFC). Millions tune in to watch bouts of modern day gladiators using a wide variety of fighting styles. Yet even the martial prowess of the UFC cannot keep them from being the victims of malware. The Register recently reported
Cloud Mining is losing popularity in the cryptosphere. Meet three alternatives that are giving cloud mining companies a run for their money! Cryptocurrency Mining Landscape & Cloud Mining The introduction of ASICs has changed the mining industry and has priced out regular users who can’t access large mining facilities and specialized hardware. This change has led to a centralized ecosystem where mining can only be performed by certain companies, many of which are hedging their risk
As the economic crises in Venezuela and Zimbabwe further deepen, more and more citizens are turning to Bitcoin mining in order to survive. Bitcoin is taking over Venezuela and Zimbabwe In the last couple of months, the economic crisis in Venezuela has affected more and more citizens. The current financial situation in Venezuela was mainly caused by the rapid rate of inflation that got out of control. As the hyperinflation caused a huge value loss
Recognizing the importance of digital technologies in the financial world, President Vladimir Putin has ordered the issuance of a national cryptocurrency. Concurrently, Russian industry is intent on attaining supremacy in the cryptocurrency mining industry by introducing new computing technology. In effect, the Russian Miner Coin (RMC) company is promising a revolutionary technology for Bitcoin and altcoin mining that would significantly improve energy efficiency. Breaking Computing Technology Paradigms for Cryptocurrency Mining By using technological innovations, Russians
Nvidia’s participation in the cryptocurrency industry is paying big dividends. In effect, fueled by Bitcoin’s impressive surge, Nvidia stock price continues to soar. Bitcoin and Other Cryptocurrencies Are Here to Stay On October 10, 2017, Nvidia’s stock value reached an all-time high: $192.92 USD per share. In parallel, Bitcoin’s value soared to $4,800 USD per coin. This bullish drive demonstrates that Nvidia continues to profit from producing devices used in cryptocurrency mining, artificial intelligence, driverless
According to a recent report by security intelligence group RedLock, hackers were able to breach into the Amazon Cloud services of two companies in order to mine Bitcoin. Amazon Cloud Used for Bitcoin Mining In a recent article, Business Insider reported that hackers were able to hack into the AWS cloud services’ infrastructure of two companies in order to mine Bitcoin. According to the security firm RedLock, the two affected companies were Aviva and Gemalto. The security firm
Josh Garza, Founder and CEO of the infamous GAW Miners has been ordered to pay almost $10 million to the SEC. Josh Garza, CEO of GAW, GAW Miners, ZenMiner, and ZenCloud plead guilty to a $9 million fraud scheme back in July of this year. Pleading guilty to one count of wire fraud related to his role in his companies’ purported generation and sale of virtual currency, Garza has now been ordered to pay almost $10 million, consisting
Hyperinflation in Venezuela has made a reality of having to carry suitcases of money in order to buy meals. Bitcoin could replace low denomination notes in the country, prevent the privacy perils of a cashless society and potentially see the first Bitcoinization of a sovereign state. Venezuela, once the highest wealth per capita country in South America, now has the highest inflation rate in the world with speculation that inflation in the country could potentially reach
New reports are suggesting that the North Korean government is using the digital currency Bitcoin in order to bypass regulations. Pyongyang is Mining Bitcoin In the last couple of months, the tensions between North Korea and the United States have gone from tense to dramatically worse. On August 2017, the United Nations Security Council passed a new resolution that imposed even stricter sanctions on the North Korean government. A very recent article by VOAnews reports that
A Japanese company, GMO Internet Group, is looking to jump into bitcoin mining with new chips that could start a digital arms race. One thing you can say about the subject of bitcoin mining is that it’s never dull. New players and technologies continue to rise up to keep everything interesting. The newest player to venture into bitcoin mining is GMO Internet Group, which is based in Tokyo, Japan. The company has long been associated
A new kind of malicious malware has been discovered. This new malware is unique in that it is able to mine cryptocurrency on victims’ computers. The New Malware Most hackers that use malware are trying to steal sensitive data or get access to important accounts, but this newly discovered malware does something else. Famous Russian cyber security firm, Kaspersky Lab, has recently discovered a new type of malware that is able to infiltrate computers and mine
Bitcoin miners in Russia are in for a break as power companies are looking to sell their excess energy off at a substantial discount. One of the more interesting regions in cryptocurrency today is Russia. There have been some ups and downs over the last few years. Russia had banned Bitcoin but reversed that policy in late 2016. Burger King Russia is now taking Bitcoin as payment and is even issuing its own digital currency.
In the wake of record-setting growth for digital currencies like Bitcoin and Ethereum, graphics card manufacturer Nvidia has expressed their intent to focus more on the cryptocurrency mining market. Cryptocurrency Mining Boom Since the beginning of 2017, the cryptocurrency market has grown at an enormous rate. In late 2016 the total market capitalization of the cryptocurrency market was a respectable $14 billion and in the months since has climbed a record-setting $135 billion as of this writing! Bitcoin
An aide to Russian President Putin seeks to raise $100 million through an ICO of his company in a bid to help dethrone China as the country with the biggest Bitcoin mining industry. Putin has warmed up to blockchain technology, Ethereum in particular, and has extended support for its adoption through the help of local partners. Many believe that these developments indicate Russia’s predisposition to replace USD with Bitcoin as a reserve asset.
Many people in the troubled South American nation have turned to Bitcoin mining in a desperate attempt to fend off starvation and keep their families alive. The once thriving South American nation of Venezuela has been sliding into an economic apocalypse over the last few years. The socialist regime of Hugo Chavez has been followed by current President Nicolás Maduro, and the economic policies put in place has transformed a country with more oil reserves
One of the advisers to Russian President Vladimir Putin claimed that up to 30% of the country’s computers had been infected with the “most strong and most dangerous” kind of malware. This comes on the back of a recent survey study which indicates that barely 30% of Russians are familiar with cryptocurrencies.
BIP91 blocks have been successfully mined by BiXin and Antpool helping to allay fears that Bitcoin could split in the face of incompatibility between rival Segwit2x and BIP148 implementations. BIP91 (or Bitcoin Improvement Proposal 91) is the work of software engineer James Hilliard, it addresses incompatibilities between the competing SegWit2x and BIP148 protocols. Both bring SegWit to Bitcoin, except that SegWit2x refuses communication with BIP148, which would effectively cause Bitcoin to split in two. What’s
MGT Capital Investments has recently announced a Pilot Program to mine Ether and Ether Classic which will see the company purchase up to 60 GPU-based mining rigs. MGT to Mine Ether and Ether Classic MGT Capital Investments has recently announced a pilot program to mine Ether, the underlying token in the Ethereum blockchain. Led by John McAfee, MGT Capital made its foray into cryptocurrency mining last year with the launch of a Bitcoin mining operation and now