Tagged: mining

January 2, 2019 @ 8:39 pm By Cali Haan  |  

Georgia State Senator Michael Williams has been charged with insurance fraud and making a false report of a crime after police and an insurance company debunked claims made by Williams last May relating to the reported theft from his Gainesville campaign office of $300 000 worth… Read More

January 2, 2019 @ 8:20 pm By Cali Haan  |  

“Deteriorating profitability” resulting from stiff global competition from other miners and sharply falling cryptocurrency prices have prompted the Japanese e-commerce and Internet firm DMM to abandon its efforts in the crypto-mining sector, Toyo Kazei reports. DMM now joins Japanese Internet firm GMO, which also recently… Read More

December 31, 2018 @ 11:28 am By Cali Haan  |  

Russia is one of the most crypto (currency)-enthused regions in the world, and mining cryptocurrencies not just a big city, male phenomenon there, BBC reports. In the Siberian city of Irkutsk, even “grandmothers” are getting in on the action. “I want some money that I’ve… Read More

December 31, 2018 @ 9:13 am By Cali Haan  |  

Rumours of widespread layoffs at Bitmain, the world’s largest manufacturer of cryptocurrency mining equipment and largest operator of crypto-mining pools, are now being followed by stories the company’s two famous founders -Micree Zhan and Jihan Wu- will be leaving their posts as Bitmain co-directors, Weixin… Read More

December 30, 2018 @ 9:45 am By Cali Haan  |  

A Taiwanese businessperson named Yang has been accused of stealing NT$ 100 million (about $3 million USD) in electricity from landlords at 17 locations where he was running surreptitious cryptocurrency mines across the country’s capital city of Taipei, Yahoo Taiwan reports. The man, who may… Read More

December 27, 2018 @ 4:51 pm By Cali Haan  |  

Bitmain, the world’s largest manufacturer of cryptocurrency mining hardware and largest operator of crypto mining pools, and Huobi, the world’s third-largest cryptocurrency exchange, have both confirmed rumours they will be laying off employees, South China Morning Post (SCMP) reports. The value of global crypto markets has declined by… Read More

December 26, 2018 @ 3:27 am By Cali Haan  |  

GMO, a large Japanese Internet-service provider, announced December 25th that it is abandoning the manufacture of hardware for the mining of cryptocurrencies following “extraordinary losses” in the company’s cryptocurrency division in Q4 2018: “After taking into consideration changes in the current business environment, the Company… Read More

December 18, 2018 @ 2:05 pm By Cali Haan  |  

The Hong Kong Stock Exchange appears to be reluctant to approve crypto mining giant Bitmain’s application to go public there, possibly because the 2018 bear market is highlighting unreliability in crypto markets. “What they are doing is they are just dragging the case right now,”… Read More

December 10, 2018 @ 5:11 pm By Cali Haan  |  

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

December 9, 2018 @ 4:51 pm By Cali Haan  |  

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

December 4, 2018 @ 3:23 am By Cali Haan  |  

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

December 1, 2018 @ 7:11 pm By Cali Haan  |  

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

December 1, 2018 @ 8:30 am By Cali Haan  |  

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

November 30, 2018 @ 9:25 am By Cali Haan  |  

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

November 29, 2018 @ 12:54 pm By Cali Haan  |  

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

November 28, 2018 @ 5:29 pm By Cali Haan  |  

  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

November 27, 2018 @ 2:57 pm By Cali Haan  |  

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

November 22, 2018 @ 5:45 pm By Cali Haan  |  

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

November 22, 2018 @ 4:30 pm By Cali Haan  |  

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

November 20, 2018 @ 3:12 am By JD Alois  |  

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