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Tag: mining

6 Crypto CEOs Testify About Threshold Issues, Bitcoin Mining, and More

Source: Adobe/Daniel US lawmakers should take steps to bring crypto-related activities into the regulated financial system, while also developing a “national policy for a decentralized Web 3” as they did for Web 1 in the 1990s, Brian Brooks, CEO of Bitcoin (BTC) mining firm Bitfury, wrote in a testimony ahead of a hearing at the House Financial Services Committee today.He’s one of the six executives that testified at the Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial…

With the metaverse, NFTs and DeFi on the rise, Ethereum miners rake in $2 billion in revenue — a…

Ethereum mining saw revenue of nearly $2 billion in November.This is the seventh consecutive month that revenue from mining for Ethereum has been higher than the returns from Bitcoin mining.One of the reasons for the boost in Ethereum mining fees is the jump in demand for validating transactions as the hype around NFTs, the metaverse and DeFi continues to build.High gas fees may not be a good thing for users trying to push transactions through on the Ethereum blockchain, but miners are more than happy raking in the big bucks. According to research by The Block, Ethereum mining revenue…

Bitcoin Mining And The Case For More Energy

When we first published this essay in May, we did so pseudonymously for the same reason that many other authors adopt pen names: to let our ideas stand (or fall) on their own merits. In the months prior, Bitcoin’s energy debate had heated from a simmer to a boil, yet we continued to find the mainstream conversation lacking. There was little consideration of energy’s fundamental importance to human progress, and even less appreciation for the cosmic beauty of bitcoin mining that has inspired us so deeply.Our aim was simple: to outline humanity’s relationship with energy from first…

Argo Blockchain Settles Dispute With Celsius

By Jaime Llinares Taboada Argo Blockchain PLC said Wednesday that it has reached an amicable resolution with Celsius on their respective claims in a pending litigation. The cryptocurrency mining company said that they have agreed to terminate their 2020 lease agreement, with Argo paying $6.3 million to Celsius.

In addition, the two companies have agreed to terminate a mining-services agreement in return for a payment from Celsius to Argo in the form of Bitcoin. s in Argo at 0828 GMT were up 4.2% at 115 pence. Write to Jaime Llinares Taboada at…

Iceland cuts power to new Bitcoin miners

National Iceland electrical company Landsvirkjun has cut the amount of power it will provide for some industries, including aluminium smelters and Bitcoin miners.A representative from the island’s power utility reported it has been forced to reduce energy allocations to southwestern Bitcoin miners and various industrial facilities due to a series of issues including a problem at a power station, low hydro-reservoir levels and accessing energy from an external supplier.Mining operations have long been attracted to the country due to its abundance of geothermal energy which is harvested to…

Bitcoin Is Approaching Hash Rate All-Time Highs

The below is a direct excerpt of Marty’s Bent Issue #1124: “Approaching hashrate all time highs.” Sign up for the newsletter here.via bitcoin.sipa.bevia insights.braiins.comIf the recent trend in Bitcoin network hashrate growth continues pace, we should see new all time highs by the end of the year. This is an incredible development when you take the CCP’s ban on all mining operations within China in May of this year. At the time of the ban many, myself included, surmised that hashrate wouldn’t fully recover until well into 2022. I am happy to report that it seems that many of us were…

Tezos blockchain notes power savings after PoS switch: PwC report

Tezos, a privacy-focused blockchain network, released its carbon footprint report from PricewaterhouseCoopers Advisory SAS, a French member firm of the PwC network. The PwC report reflects drastic improvements in energy efficiency for Tezos since moving from a proof-of-work (PoW) to a proof-of-stake (PoS) mining consensus. The PwC report highlighted a significant decline in carbon emission by Tezos network despite a rise in network activity. The Tezos blockchain accounted for 50 million transactions while, according to the report, the whole network constituted an energy footprint of 17…

Top 7 Bitcoin & Crypto Mining Stocks You Could Add to Your Stock Portfolio

Source: Adobe/Konstantin Yolshin With the price of bitcoin (BTC) pushing for yet another all-time high before its latest drop, and with the recent shake-up in hash power distribution following China’s bitcoin mining ban last summer, bitcoin mining operations have been enjoying substantial profits.Adding a bit of exposure to bitcoin mining companies could, therefore, be the right play for equity investors who would like to add bitcoin exposure to their stock portfolios.Read on to discover a list of promising bitcoin and crypto…

China Xiangtai Food Shares Rise 13% After New Cryptocurrency Hires

By Chris Wack China Xiangtai Food Co. shares were up 13% to $2.40 after the company said it named blockchain specialist Dr. Erick W. Rengifo as chief strategy officer and director. The company, which says it is engaged in agricultural business with a diversified expansion strategy, also named Dr. Jiaming Li as president. He is the founder of MineOne Partners Ltd., a crypto mining fund management company. He succeeds Xiaohui Wu, who resigned Monday.

Dr. Rengifo is a professor of economics at Fordham University in New York. He is the founder of Terra Global Asset…

Top 5 things you need to know about data science

Tom Merritt breaks down a recent Forrester report about data science, machine learning and AI. Here are the five things you should know.

Whether it’s machine learning, analytics or data mining, tech pros need to make strategic decisions about data science; however, few decision makers have direct experience with the relatively new and definitely complex discipline.Forrester recently put out a report called “The Tech Executive’s Primer On Data Science, Machine Learning, And AI.” While you should read the whole report to get…

Enhance Your Data Mining Career

UC San Diego Extension’s certificate in Data Mining is a five course, 15-unit program, that can be completed in as little as one year. Upon completion, you will be equipped with the necessary skills to make data-driven decisions in any industry. Find out more today.

A Bitcoin Boom Fueled by Cheap Power, Empty Plants and Few Rules

A bitcoin mining operation is opening northeast of Niagara Falls this month on the site of the last working coal plant in New York State.Across the state, a former aluminum plant in Massena, already one of the biggest cryptocurrency sites in the United States, is expanding.And in Owego, a metal-recycling mogul with 11.3 million Instagram followers is making a gritty start-up with banks of computers in shipping containers next to a scrapyard.Soaring Bitcoin values may be the investment talk of Wall Street, but a few hours north, in upstate New York, the buzz is about companies that are…

Proof Of Work Useful Beyond Bitcoin

Anyone who has studied bitcoin for a while knows that proof-of-work in bitcoin mining is the key to the security and to the unforgeable nature of the protocol. Bitcoin mining in 2021 requires that miners use purpose-built computers [called ASIC’s] to convert real-world energy [more than 50% of which is renewable and stranded energy] into encrypted digital monetary energy. By using this proof-of-work and following consensus rules, bitcoin miners (and node operators) secure this decentralized network one block at a time approximately every ten minutes. Some have even called it triple-entry…

How can investors hedge against inflation?

Bitcoin (BTC) was created in the aftermath of the 2008 financial crisis and planned to solve the problems created by loose monetary policies. The cryptocurrency’s creator, Satoshi Nakamoto, said in late 2008 that the cryptocurrency’s supply increases “by a planned amount” that “does not necessarily result in inflation.”The cryptocurrency’s inflation rate has been fixed and its circulating supply is capped at 21 million coins, expected to be mined by 2140. By then, BTC’s inflation rate will drop to zero. In contrast, fiat currencies have no finite supply and can be printed…

Ethereum Proposals, DeFi Hacks, Name Changes and 20 Crypto Jokes

  In the cryptoweek behind us: as the Bitcoin mining difficulty broke its longest gain streak since 2018, Vitalik Buterin proposed a new EIP to tackle Ethereum’s sky-high gas fees, an Ethereum developer called for the community to help testing the Merge, and many claimed that the ethereum/bitcoin chart looked primed for a sharp move higher, but some were betting on an opposite outcome. The first atomic swap between monero and ethereum occurred on L2 solution Arbitrum, and Binance resumed DOGE withdrawals stating that ‘no…

Elizabeth Warren Queries Bitcoin Mining Operation, US Senator Says Crypto Miners Raise Environmental…

Senator Elizabeth Warren has written a letter to the CEO of the New York bitcoin mining firm Greenidge Generation, Jeff Kirt, asking for details on the company’s emissions. Warren’s letter insists “Greenidge and other [bitcoin mining] plants raise concerns about their impacts on the global environment.”
Elizabeth Warren Takes Aim at Bitcoin Mining Operations
The former law professor and the United States Democratic Party senator from Massachusetts, Elizabeth Warren, has taken aim at cryptocurrency mining operations after she criticized digital currency markets in recent times….

Chinese Crypto Mining Crackdown Turns Focus to PC Rooms and ‘Home Miners’

Source: AdobeStock / littlewolf1989 Having effectively eliminated its industrial crypto mining sector, China is now going after the small fry: internet café and PC gaming room operators – and even those mining on rigs and cards at home – as Beijing moves to squash the mining industry once and for all.China, like many other East Asian nations, has a thriving PC gaming culture. Most gamers prefer to play games in communal rooms, where they pay per hour for PC usage time. These PC rooms, known as wǎngbā (网吧) in Chinese,…

After China’s Crypto Ban, Who Leads in Bitcoin Mining? – Visual Capitalist

Bitcoin Mining Moves to America. Bitcoin mining is a process that verifies transactions on the blockchain ledger, while also bringing new bitcoins into circulation. To be successful at this, cryptominers require vast amounts of computing power, meaning electricity becomes one of their most significant costs. This pushes them to locate wherever electricity is cheapest. For years, China was the optimal location—the country has an abundance of cheap, coal-powered electricity. However, in September 2021, the Chinese government issued a blanket ban on all crypto activities. In this graphic sponsored by Global X, we illustrate a movement that’s being dubbed “the great mining migration”.

‘Cyberpunk 2077’ Fails To Read The Room With Its $500 Blockchain Watch

Cyberpunk 2077 watch
CDPR
With interest in Cyberpunk 2077 at an all-time high for the first time since launch, days away from the one year anniversary of the game, what’s CDPR doing? Dropping a new patch? Releasing DLC? No, they are promoting a new Cyberpunk 2077 watch for sale.

Wait, what?
Yes, that’s right. CDPR has made a Cyberpunk 2077 watch with Blonie Watches called the T-2077. It costs $500. It has a titanium case. It (sigh) uses blockchain technology.
The “blockchain” bit of this is not that your watch is mining crypto or something as you wear it. Rather, it…

Filecoin Might Have a Way for Bitcoin to Fight Its Energy Critics (if Miners Use It)

“There’s no proof-of-stake version in which the energy to store files goes to zero,” Ransil said, alluding to the non-mining consensus mechanism used to secure newer blockchain networks. “Using Filecoin is always going to use a fair amount of energy. So we want to set up our ecosystem to demand renewable energy. It should make us a player in energy markets, and act as a strategic wedge to push green power grids.”

Bitcoin (BTC) hashrate recovers from China’s crackdown

Earlier in the year when China renewed its hostilities towards the crypto industry, one metric that saw a negative effect of the crackdown was the Bitcoin mining hashrate that plummeted by more than 50% during this period largely because crypto miners were being pushed out of the Asian country.Bitcoin mining hashrate recovers from China banWith erstwhile Chinese miners finding new homes around the world, Bitcoin mining hashrate has begun an ascent to the top again as available data has shown that the metric has risen by around 80% within the last five months.According to data from Coin…