Bitcoin Mining

Iranian Lawmaker Says Bitcoin Should Be Central Bank’s Turf

An Iranian lawmaker wants his country’s central bank to take bitcoin seriously. Representative Mohammad Hossein Farhangi (Tabriz), speaking Tuesday before the nation’s parliament, called on the Governor of the Central Bank of Iran, Abdolnaser Hemmati, to handle oversight of bitcoin, according to the Tasnim news agency.  Calling proper management of bitcoin a “good opportunity for …

Iranian Lawmaker Says Bitcoin Should Be Central Bank’s Turf Read More »

Bitmain Unveils Cheaper T19 Bitcoin Miner to Regain Lost Market Share

Bitmain on Monday released the Antminer T19, a cheaper bitcoin mining machine, in an effort to regain lost market share. The Beijing-based company said the Antminer T19 has computing power or hashrate of 84 terahash per second (TH/s) and power efficiency of 37.5 joules per terahash (J/TH). The latest hardware is modeled after Bitmain’s more …

Bitmain Unveils Cheaper T19 Bitcoin Miner to Regain Lost Market Share Read More »

Bitmain Launches New T19 Bitcoin Miner After S17’s Troubled Launch

World-leading mining hardware producer Bitmain launched its new Antminer T19 Bitcoin Mining application-specific integrated circuit (ASIC). According to a June 1 announcement, Bitmain’s new Antminer T19 features a SHA256 hash rate of 84 terahash/second with a 3% error margin and a power efficiency of 37.5 joules/terahash with a 5% error margin.  The new ASIC model …

Bitmain Launches New T19 Bitcoin Miner After S17’s Troubled Launch Read More »

Bitcoin Hashrate Bounces Back- 2x the Mining Pools, Farm Diversification, 100 Exahash

Around 18 days ago, the Bitcoin protocol experienced it’s third block reward halving and the network saw a 33% hashrate loss. Since then, however, bitcoin miners have increased in both number and hashpower, as the network has seen a 15-20 exahash per second (EH/s) increase. Moreover, on May 22, there were 17 mining pools hashing …

Bitcoin Hashrate Bounces Back- 2x the Mining Pools, Farm Diversification, 100 Exahash Read More »

Iranian President Calls for Launching a Cryptocurrency Mining Strategy

Iranian President Hassan Rouhani has called for a mining strategy throughout the oil-rich nation. The latest statements from the Iranian President follows Iran’s moves to restrict specific crypto trading platforms over “currency smuggling” mandates. On May 20, 2020, Iran’s President Hassan Rouhani told the press that the country needs to spur a cryptocurrency mining strategy, …

Iranian President Calls for Launching a Cryptocurrency Mining Strategy Read More »

China Strikes Down 10% of Global BTC Hashrate, Who Will Pick Up The Slack?

The government of China’s Sichuan province moves to stamp out Bitcoin (BTC) mining activity, citing that growing cryptocurrency prices have led to the escalation of illegal activity under the guise of mining. Sichuan — 10% of the global hashrate According to estimates from Cambridge University, Sichuan is responsible for almost 10% of the global hashrate. …

China Strikes Down 10% of Global BTC Hashrate, Who Will Pick Up The Slack? Read More »

Bitcoin Hashrate Slides 33% Since Halving – Difficulty Drops, Issues in Sichuan China

It’s been 11 days since the third bitcoin block reward halving. Data now shows that the overall SHA256 hashrate lost around 47 exahash per second (EH/s), since the all-time high of 140 EH/s on May 3. With more than 33% of the hashrate lost, reports stemming from Sichuan China indicate that bitcoin mining operations have …

Bitcoin Hashrate Slides 33% Since Halving – Difficulty Drops, Issues in Sichuan China Read More »

Canaan Reports $5.6M Loss in Q1 Despite Bitcoin Miner Price Cut

China-based bitcoin miner manufacturer Canaan has reported a net loss of $5.6 million for Q1 2020, even though it had cut down the prices for its hardware by more than half in an effort to sell more machines. In an earnings report released on Friday, the firm said it made $9.4 million in revenue for …

Canaan Reports $5.6M Loss in Q1 Despite Bitcoin Miner Price Cut Read More »

People Are Removing the Most Bitcoin From Exchanges Since 2018 Bottom

Bitcoin (BTC) is failing to retake $10,000 due to a fresh wave of miner selling, fresh data suggests ten days after the halving. Compiled by monitoring resource CryptoQuant, the figures show that over the past five days, combined outflows from BTC mining pools spiked 600% — from 1,066 BTC to 7,426 BTC on May 20.  …

People Are Removing the Most Bitcoin From Exchanges Since 2018 Bottom Read More »

Miner Revenues Crash, But This Has Always Marked Bitcoin Price Bottoms

The revenue of Bitcoin (BTC) miners dropped to early 2019 levels for the second time in 2020. Every time it declined to a multi-year low, it marked the start of a bullish trend for BTC. The last time the daily revenue of Bitcoin miners hovered at around $7 million was on March 13, 2020. At …

Miner Revenues Crash, But This Has Always Marked Bitcoin Price Bottoms Read More »