Tagged: mining

Browser CryptoMining Deemed Potentially Profitable Alternative to Website Ads

Researchers at Germany’s top technical university in Aachen have conducted what they claim is the, “first in-depth study of the prevalence and economics of browser-based mining as a new web business model,” and have found that mining crypto on website visitors’ browsers could prove a profitable… Read More

Crypto Mining Malware Attacks Escalating, UK Poll Finds

IT directors at 750 companies with 250 or more employees in the UK are reporting a steady increase in attempted “crypto-jacking” attacks on enterprise computer systems, with 30% of all companies reporting attacks in May, the month the survey was conducted. The findings were determined… Read More

Small New York State Town Imposes Moratorium on Crypto Mining

The Common Council of Salamanca, a small town south of Buffalo, New York, voted unanimously this week to impose a moratorium on cryptocurrency mining in the city’s “electric service area.” According to The Salamanca Press, the moratorium will, “temporarily stop applications or proceedings, or the issuance… Read More

Australian Firms Sign Solar Power Crypto Mining Deal

Australian solar energy provider Hadouken Pty has agreed to power what may become “Australia’s first behind the grid” solar-energy data and crypto-mining centre, IT Brief reports. The new centre will be located in the town of Collie, located in the Southwestern most tip of Australia, and will be… Read More

1000 People Petition US Government to Extradite Sky Mining Crypto CEO to Face Fraud Charges in Vietnam

Investors alleging that the CEO of Sky Mining, Le Minh Tam, defrauded them of $36 million dollars are continuing their fight for restitution, this time in the form of a petition at Change.org. The petition lists Tam’s passport number and claims he solicited contributions of… Read More

Howdy, Bitmain. World’s Largest Crypto Mining Company Expands Again, This Time to Texas

Bitmain, the world’s largest manufacturer of crypto mining equipment and its biggest producer of bitcoins has announced the launch of a $500-million data centre in Rockdale, Texas. The company says it will deploy the sum over 7 years and will create 400 local jobs in the… Read More

Random Crypto CEO: Most Crypto Mining Calculators Obscuring Generally Low Profits in the Sector

Josh Metnick, the CEO of Random Crypto, a company offering a new tool for calculating the profitability of crypto mining, says that similar calculators are failing to show the truth about mining proof-of-work cryptocoins like Bitcoin: that doing so is usually only profitable for very… Read More

China: Cryptocurrency Mining Company Bitmain Reported to IPO at $14 Billion Valuation

Bitmain, a China based hardware and tech firm that produces some of the most popular mining servers in the cryptocurrency world, is said to be planning an initial public offering (IPO).  According to a report in Fortune, Bitmain is prepping to issue shares at a… Read More

Hydro Quebec Prefers Blue Chip Blockchains to Crypto Mining

Hydro Quebec is more interested in supporting blockchain activities by blue chip companies in the province than it is in rolling out a red carpet for crypto miners, La Presse reports. Internal documents obtained in a freedom of information request show that Hydro Quebec is waiting… Read More

Energy Authority: Hydro Quebec Can Charge Crypto Mining Firms Double Until Regulations in Place

The Province of Quebec’s energy regulator, Régie de l’énergie will continue to allow Hydro Quebec to charge cryptocurrency mining companies double the standard electricity rate until the province finalizes how to regulate the new industry, The Montreal Gazette reports. Hearings to regulate the new sector are scheduled… Read More

Ban on Crypto Mining Machines Imports to Vietnam One Step Closer to Reality

Online publication Vietnam News is reporting that the Government of Vietnam has moved one step closer towards banning crypto mining machine imports in the country. The move comes after the State Bank of Vietnam (SBV) agreed to support a proposal from the Vietnamese Ministry of… Read More

Disaster Capitalism: Floods in Sichuan Knock Out Small Bitcoin Miners, Big Miners Move in

Torrential rains in the mountainous Chinese province of Sichuan during late June caused loss of life, landslides, crop damage, the forced relocation of 9000 people, and at least 193 million yuan ($30 million) in economic losses. Global technicians also noticed a 30% concurrent drop in… Read More

Taiwan Semiconductor Expects Cryptocurrency Mining Demand to Decrease from Q2

In a filing with the Securities and Exchange Commission (SEC), Taiwan Semiconductor, the world’s largest dedicated semiconductor foundry, issued a statement that indicated a decline in cryptocurrency mining affiliated revenue as it backed off of expectations for later in 2018. Lora Ho, SVP and Chief… Read More

Bitmain, Biggest Crypto Firm On Planet, Expands Again, This Time in Isreal

Cryptocurrency consortium Bitmain, the world’s most valuable crypto firm, has embarked on yet another expansion, this time in Isreal, where it plans to triple the size of the workforce at its Ra’anana development centre. Bitmain told Israel business news site Globes that it is adding… Read More

Flooding Knocks out Bitcoin Mines in China, Network Processing Drops

Recent floods in China’s central Sichuan province have destroyed thousands of cryptocurrency “mining” machines (dedicated computers) and may have slowed processing power on the Bitcoin network, Golden Finance reports. Anhui, Jiangsu, Shandong and Jilin provinces were also badly affected by prodigious rains, says ECNS News,… Read More

Hydro Quebec Slaps Temporary Tariff on Crypto Miners There

The Globe and Mail newspaper, courtesy of Bloomberg, is reporting that the Quebec provincial energy regulator, Regie de l’energie, has authorized Hydro Quebec to levy a 3x premium on electricity prices to all new firms planning on mining cryptocurrencies in Quebec. https://www.theglobeandmail.com/business/article-hydro-quebec-hikes-electricity-price-for-cryptocurrency-miners/ Cryptocurrency “mining farms”… Read More

China Tolerating Bitcoin Mining in Remote Regions: “Xi Desires This Power for China”

In an atmospheric piece filed 2700km from Shanghai and 3000 miles above sea level, Nikkei Asian Review reporter Yusho Cho describes a 7000 computer-strong mining operation quietly thrumming out Bitcoins in the remote western plateau region of Qinghai. Local authorities, says Cho, are fine with… Read More

Police to Lay Charges in Japan’s First “CryptoJacking” Case

Police in Japan have charged three individuals with infecting the computers of unsuspecting individuals with malware that mines the privacy cryptocurrency Monero. According to the Japanese daily news provider Mainichi, the three individuals are accused of setting up web sites designed to attract and then surreptitiously… Read More

Vietnam’s Finance Ministry Suggests Banning Imports of Cryptocurrency Mining Equipment

In a gesture that may show poor understanding of crypto generally, the Vietnamese Ministry of Finance has proposed a temporary ban on imports of crypto mining equipment to the country. According to the Hanoi Times, the Ministry gave two reasons for the proposal. First, “The act… Read More

Venezuela is Halting Imports of Cryptocurrency Mining Equipment

Venezuelan customs officials have been blocking imports of cryptocurrency mining equipment arriving in the country by land and by sea since April, Noticiero Digital and El Interes reports. GPU and ASIC rigs, related cards and processors, power packs and even mobile phones are reportedly being swept… Read More