Tagged: mining

Vertcoin Sustains Minor “Double Spend” Attack. Is This a Dry Run?

Hackers appear to have rented cryptocurrency mining power at NiceHash this week and then used it to conduct a 51% attack on the Vertcoin network. According to Coindesk, the hacker managed to offset 603 genuine blocks of data mined by legitimate network participants and replace… Read More

Wyoming Cryptocurrency Advocates Propose Reviving Coal Plants to Power Cryptomining

Parties working to make Wyoming friendly to cryptocurrency businesses have offered to revive aging coal-fired power plants in the region. Wyoming “utility giant” PacifiCorp has come to regard the plants as a liability, but members of the crypto are desperate to bring down costs. Cryptocurrency mining… Read More

Report: Ambitious Quebec Cryptomining Firm Bitfarms Grappling with Noise Complaints and Executive Shake Up

A Quebec-based cryptomining firm that transformed five abandoned industrial facilities in small-town Quebec into 24-7 digital currency factories has run into trouble of late thanks to noise complaints and an executive shake-up, The Canadian Press reports. Many cryptomining ventures that expanded heartily during the crypto… Read More

Large-Scale Data Infrastructure Provider Compute North Launches 100+ Megawatts Facility in Kearney, Nebraska

Compute North, an established provider of high-powered, large-scale data infrastructure, recently revealed that it has launched its biggest co-location facility in Kearney, Nebraska. The new data center facility is the company’s third site. Other sites are based in Texas and South Dakota. Compute North’s latest… Read More

Crypto Miner Cannan Raises $90 Million in NASDAQ IPO, Shares Decline

Canaan AvalonMiner

Yesterday, Canaan Inc. (Nasdaq: CAN) a Chines crypto mining company,  completed an initial public offering (IPO) of 10,000,000 American Depositary Shares (ADSs), each representing 15 Class A ordinary shares. Shares were issued at US $9.0 per share for a total offering of US $90 million. … Read More

Cryptomining Hardware Company and Bitmain Competitor Canaan Files for IPO on Nasdaq

After an application to go public in Hong Kong lapsed last year, Canaan, the second-biggest maker of cryptocurrency mining hardware after Bitmain, has brought its bid to go public to New York. According to a registration statement submitted to the SEC in Washington, Canaan plans… Read More

China: WeiyangX Fintech Review

China Issues New Rules Against Illegal Lending On October 21st, a new financial rule was jointly released by four ministries and commissions of China’s central government-the Supreme People’s Court, the Supreme People’s Procuratorate, the Ministry of Public Security and the Ministry of Justice. According to… Read More

Bitmain’s Back: Cryptomining Giant “Fulfils” Promise to Create Facility in Texas

Rockdale, Texas, a former coal and aluminum producing town hit hard by the exit of those industries. DMG (TSX-V: DMGI), a Canadian firm, will provide hosting and management services for the Texas facility and will work with Bitmain to expand the capacity and to ensure… Read More

Bitmain Set to Launch Digital Mining Map

Bitmain, a manufacturer of cryptocurrency mining hardware and operator of crypto mining pools, announced on Friday it is planning to launch a platform to connect mining hardware owners with mining farm owners through the World Digital Mining Map (WDMM). The company reported: “To remain price-efficient,… Read More

Authorities Crack Down on Cryptomining in Mongolia, Call Crypto “Pseudo-Financical Innovation”

Officials from five government departments in the Inner Mongolia Autonomous Region of China are gearing up to crack down on crypto mining in that region, Chinese crypto media outlet ChainNews reports. Mongolia’s Autonomous Region Development and Reform Commission, Public Security Department, Office of the Ministry… Read More

Company Used 9000 Technicians to Deploy Malicious Cryptomining Software in China

Police in China have shut down a massive cryptomining exploit pervaded by a computer network maintenance company in the Northeastern city of Zhengzhou, CCTV News reports. Officially, the company offered network maintenance services and “value-added advertising,” to Internet cafes and other businesses. Unofficially, the company’s 9000… Read More

Prosecutors: Accused Capital One Hacker Also Used Victims’ Servers for Cryptomining

A Seattle woman and former Amazon Web Services employee accused of stealing personal data from credit card-issuer Capital One and 30 other companies also used victim’s servers to mine cryptocurrency, prosecutors in the State of Washington allege. Paige Thompson is accused of accessing victims’ servers… Read More

Marathon Patent Group Ups Its Cryptomining “Hashing Power” by 7X

Anticipating an “improving market for Bitcoin,” Marathon Patent Group (Nasdaq: MARA) has traded 2 335 000 shares for 6000 new Antminer S-9 cryptomining machines with an unnamed hardware provider. Marathon is a micro-cap and one of the first Nasdaq-listed Cryptocurrency mining companies. The transaction means,… Read More

Authorities Find Stealth Cryptomining Set Up in Ukraine Nuclear Power Plant

The Security Service of Ukraine has found unauthorized cryptomining set ups in facilities South Ukrainian Nuclear Power Plant facilities Internet UA reports. One system was found in “Office 104” and another in dormitory facilities housing members of the Ukrainian National Guard, who are tasked with protecting… Read More

Heavy Rains in Sichuan Knock Out Crypto Mines Again

Heavy seasonal rains and flooding in Sichuan, China’s “Bitcoin mining capital” have once again damaged cryptomining facilities in the region, Chinese crypto press outlet 8BTC reports. This year’s continuous heavy rainfall began August 18th, and while the devastation so far appears to be less than last year’s,… Read More

Crypto Mining Startup Coinmine Secures $2.5 Million Through Seed Funding Round

Coinmine, a U.S.-based crypto mining startup, announced last week it secured $2.5 million through its receive seed funding round, which was led by M13 with participation from Gumi Crypto, Republic Labs, Canaan Labs, and Shervin Pishevar. The company revealed that its mission is to continue… Read More

Cyberpol Calls Bitcoin “Unlawful.” ECIPS Says IMF Has “A Lot of Explaining to Do” Around Crypto Public Policy “Failing”

After a three-year-long investigation, Cyberpol, has concluded that Bitcoin mining is “unlawful,” because miners are minting money outside of the regulated monetary system and then suffusing this money back into regular economies. Cyberpol is an international non-profit agency for investigating cyber attacks by criminals, international… Read More

Report: World’s Second Largest Maker of Cryptominers, Canaan, Plans US IPO

After its application to IPO in lapsed regulators’ hands last November in Hong Kong, Canaan, the world’s second-largest manufacturer of cryptomining hardware, has filed a confidential S-1 to pursue a US US initial public offering (IPO), according to Chinese media outlet Weixin reports. Canaan sells… Read More

Lawyer Leaks Legislation Proposing Ban on Cryptocurrencies in India

Indian “blockchain lawyer” Varun Sethi has leaked a copy of draft legislation proposing a ban on cryptocurrencies in India. Text from the eighth chapter, six-part and 27 clause bill in its present iteration reads as follows: “No person shall mine, generate, hold, buy or sell… Read More

Adios, Amigo: Proposed $500 Million Bitmain Cryptomining Facility Dormant in Texas

Development of “the largest data centre in the world,” in Rockdale, Texas, has slowed to a halt less than a year after the facility was announced by Bitmain, the world’s largest cryptomining firm, Wired reports. While courting officials in the region, Bitmain representatives promised to… Read More

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