Tag Archives: cryptomining

Home / cryptomining
8 Posts

Crypto Market Decline Forced Crypto Miners in China to Sell Mining Devices ‘by Kilo’

posted on November 23, 2018 by in Other crypto

It is reported, that cryptocurrency mining operations in China are selling mining machines by weight, as opposed to price per unit. During the last week, cryptocurrency markets experienced a common drop, along with Bitcoin (BTC) declining to as low as $4,300 per coin. According to 8BTC, the decline affected the drop in mining profitability, as a result, Chinese operators had to sell their mining devices at a loss. The miners are being sold “by kilo,” according to the post of F2Pool founder. Crypto miners are particularly seeking to sell the older models as they have reached their “shutdown price.” According to Chinese outlet Tencent News, the earnings from mining do not cover electric power and other associated costs anymore.

Bitfury Could Launch Europe’s First Major Crypto IPO

posted on October 26, 2018 by in Other crypto

It is reported, that Cryptocurrency mining firm Bitfury is considering an initial public offering in Amsterdam or London already in 2019. According to Bloomberg, the Amsterdam-based blockchain startup could seek a valuation of $3 billion to $5 billion. The company is negotiating with few investment banks to check its options. Bitfury is looking to expand its business, but no final decisions have been made yet.

Despite Record Revenues Bitcoin Mining Profitability Is Going Down

posted on October 10, 2018 by in Bitcoin

According to Diar, while the price of BTC remains 40% higher than last year, and Bitcoin miners have achieved record revenues of $4.7 bln, because of the many different factors Bitcoin Mining has become less profitable than before. It is reported that this negatively affects smaller mining operations and places larger mining pools at an advantage. According to the study, China is one of the few countries that offer affordable Bitcoin mining energy price packages, with an average cost of $0.08/kwh. However, rent, salary, equipment, and other expenses can lead small mining enterprises to bankruptcy.

Quebec Approves Energy Rate Hikes For Bitcoin Mining Companies

posted on July 20, 2018 by in Bitcoin

Bitcoin mining firms will now have to pay twice more for electricity in Quebec. The energy regulator of the Canadian province, Régie de l’énergie, gave the region’s utility firm, Hydro-Quebec, the go-ahead to impose a deterrent tariff that will see cryptocurrency miners paying double the rate that is levied on households and other utility customers. The rate for new cryptocurrency miners entering the province will now be 15 cents per kilowatt hour. This tariff will be used until the new regulations on cryptocurrency in August. Hydro-Quebec’s total electricity generating capacity is 37,000 megawatts.

 

 

Kazakhstan Decided To Prohibit Cryptomining And Cryptocurrency

posted on March 31, 2018 by in Other crypto

Kazakhstan’s National Bank is taking a hard-line approach toward the regulation of cryptocurrencies — in an effort to prohibit its exchange for Kazakhstan’s national currency, the tenge, and every type of cryptomining, Chairman of Kazakhstan’s National Bank Daniyar Akishev told on March 30, 2018. “We minimize the risks related to the national market. However, no central bank has all the instruments to control this market in the cross-border market. Therefore, at least, we must prevent this risk via the national currency,” he stated.

Samsung Joins Cryptomining Industry by Making ASIC Chips

posted on February 2, 2018 by in Other crypto

The tech giant confirmed that the manufacturing of specialized application-specific integrated circuits (ASICs) cryptocurrency mining chips begun in January. Such chips will be used to mine Bitcoin, Ether and other cryptocoins. This step was a result of collaboration with Taiwanese chip manufacturer TSMC.

55% Businesses Worldwide Affected by Crypto-Mining Malware Epidemic

posted on January 29, 2018 by in Other crypto

A group of anonymous hackers used YouTube to consume visitor’s CPU power and electricity to mine cryptocurrency, by placing mining codes in the ads displayed by Google DoubleClick platform. Owner of YouTube, Google reported that those ads were blocked in less than two hours.

Chip Company TSMC Anticipates High Demand for Crypto Mining

posted on January 19, 2018 by in Other crypto

World’s largest semiconductor foundry believes that Bitcoin mining industry will continue to grow, triggering a huge demand for their products.