Tagged: mining

Monero-Mining Malware Getting More Sophisticated, Researchers Say

A sophisticated actor, or actors, is presently using an “evolving” type of crypto-jacking software to infect private systems from Mexico to India to Norway to Israel, commandeering them for the mining of Monero, a popular “privacy cryptocurrency” difficult to trace. The malware, called “KingMiner,” has been… Read More

Chinese Crypto Miner Favouring “Financial” Over “Factory” Approach in Current Bear Market

At least one Chinese cryptocurrency miner is taking a creative financial approach to surviving “Crypto Winter” -the bear market currently punishing crypto prices to some of their lowest levels in over a year, 8BTC reports. Jin Xin, for example, “an ordinary Chinese miner,” is taking a… Read More

Crypto Miners Request 5000 Megawatts of Power from BC Hydro

BC Hydro, the semi-privatised crown corporation that manages most of the power infrastructure and supply in the Canadian province of British Columbia, says in the last year, cryptocurrency mining farms have requested to add up to 5000 megawatts of load to the province’s electrical systems,… Read More

“Green” Crypto Mining Venture, Envion, Shut Down by Swiss Judge

A purported environmentally-friendly project for the mining of cryptocurrencies in Switzerland has been dissolved by a Swiss court as a result of bitter infighting by founders, Michael Luckow and Matthias Woestmann, Swiss news outlet Handelsblatt reports. A reported 30 000 investors may now have a… Read More

Vancouver-Based Crypto Mining Firm Reports $1.5 Million in Third Quarter Losses

A Vancouver-based firm mining Bitcoin and Bitcoin cash has reported a Q3 loss of $1.5 million, thanks mainly to very high levels of mining “difficulty” (competition) in relevant networks coinciding with a “significant decline in the price of Bitcoin.” The report offers a rare glimpse… Read More

Kaspersky Lab: Botnets Being “Reprofiled” to Deploy CryptoJacking Malware

Increased competition in the “DDos-attack-for-sale” market and sometimes attractive cryptocurrency prices are inclining botnet commanders to switch their priorities towards the dissemination of crypto mining malware, cybersecurity researchers at Kaspersky Lab (KL) claim. In a DDos attack, an infected network of computers called a botnet sends… Read More

Billion Dollar Crypto Miner Walks Following Electricity Rate Hike in Norway

NTC Services, a consulting firm that assists “data centre” companies looking to establish themselves in Norway, says it has lost a billion dollar client thanks to a recent budget decision by the Norwegian government authorizing an electricity rate hike to local cryptocurrency mining farms, e24… Read More

Texas Issues Emergency Cease-and-Desist Orders Against My Crypto Mine

  The Texas State Securities Board (TSSB) has issued an emergency cease-and-desist order against an accused serial fraudster, Mark Steven Royer. Mr. Royer is allegedly selling the “My Crypto Mine” project, which bears the features of a pyramid scheme. Earlier this year, Royer and two partners… Read More

Korean Firm Signs Deal for Large Crypto Mining Farm and Guaranteed Cheap Electricity in Paraguay

Regardless of recent stories of bear markets and electricity rate hikes bankrupting small crypto miners across the globe, a Korean company called the Commons Foundation has announced it is opening, “the world’s largest cryptocurrency mining center and global cryptocurrency exchange,” in energy-rich Paraguay. Commons Foundation says… Read More

Norway Cancels Electricity Subsidies to “Dirty” Crypto Mining Sector

Until now, “data centres” mining cryptocurrencies in Norway have qualified for the same reduced electricity rates enjoyed by other power-intensive industries- 0.48 øre per kilowatt, rather than 16.58 øre- but that is about to change, Aftenposten reports. The sector has reportedly raised the ire of the local Directorate… Read More

North American Crypto Mining Firm Giga Watt Files for Bankruptcy

A large cryptocurrency mining company based in Washington State filed for bankruptcy Monday, Wenatchee World (WW) reports. The company is reportedly also facing eviction in Douglas County, and, “The Port of Douglas County also started the eviction process…” According to WW: “The company filed for Chapter 11 protection… Read More

Make a Wish Site Hit by Crypto Mining Malware Hack

Crypto mining is becoming less profitable by the minute as the price of crypto tanks and the cost to mine outpaces the value generated. That is unless you can mine for free. The Make a Wish Foundation, a popular charity during the holiday season, appears… Read More

Electricity Rate Raise Looms Over Crypto Miners in Chelan County, Washington State

Officials from the Chelan County Public Utility Division (PUD) in central Washington held a public meeting November 7th to announce proposed electricity rate increases for cryptocurrency mines, KPQ News Radio reports. The officials say the would like the industry to bear some of the costs… Read More

No Crypto Love at Nvidia as Shares Sink Due to Crypto Hangover

NVIDIA (NASDAQ:NVDA), the company that pretty much redefined the gaming industry with modern computer graphics chips, was hammered in after-hours trading yesterday following quarterly results that failed to please investors. Today, shares in NVIDIA look to open on NASDAQ significantly lower than when markets closed… Read More

McAfee Labs Detects New Crypto Mining Malware “WebCobra”

Researchers at McAfee Labs have discovered a new type of Russian malware quietly mining Zcash and Monero on exploited computers around the world. The malware “arrives via PUP installers” that drop and install either the Cryptonight Monero miner or Claymore’s Zcash miner onto a system, “depending… Read More

Crypto Mining in Sweden Stalls in Bear Market

The prolonged bear market of 2018 appears to have affected two cryptocurrency mining operations in the county of Norbotten,Sweden, Sverige Radio reports. Power officials in the town of Älvsbyn are suing Miami-based company NGDC for millions in unpaid electricity bills, and the municipality of Kalix is looking… Read More

“Strict” Inspections Close Crypto Mines in China

Power outages in the Guizhou and Xinjiang regions of China have reportedly triggered “strict” inspections at local cryptocurrency mines, Cong Express reports. Mine owners say their facilities have been closed since November 5th, when a process of “rectification” was initiated by local authorities. Xinjiang is… Read More

Principal and Vice-Principal in China Caught Mining Ethereum on School Systems “For Personal Gain”

A principal and vice-principal at a middle school in Hunan, China have been caught and punished for using school rooms and school electricity to mine the cryptocurrency Ethereum, HK01 reports. The story reportedly began when a cousin of Principal Lei Hua of the Puman Middle… Read More

Canadian University Network Shut Down for Four Days to Fend Off “CryptoJacking” Attack

St Francis Xavier University in Antigonish, Nova Scotia, Canada had to shut down its entire network for four days last week to fend off a crypto-mining malware attack, Global News reports. Campus email, Wi-Fi, debit transactions, online course selection, cloud storage, and drives on the… Read More

Enterprising Iceland Crypto Miner is Recycling Mining Energy as Heat

A woman running small crypto mining operations in the southern Iceland district of Reykjanes is using the energy her machines consume to heat storage spaces she rents from local farmers, Wired reports. Krista Hannesdóttir, a math teacher by day, started crypto mining in a former… Read More

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