Bitcoin Mining

China’s Inner Mongolia to shut down crypto mining farms by April 2021

Authorities of the Chinese autonomous region of Inner Mongolia have proposed to close down all local cryptocurrency mining facilities to reduce energy consumption in the region. The Inner Mongolia National Development and Reform Commission, or NDRC, released an official proposal to shut down local crypto mining operations in line with its energy-saving rules. Published on …

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China’s Bitcoin Mining Rig Manufacturers Pressed by Demand, Advance Orders, Devices Sold Out

<div class=”featured_image_container”> </div> <strong>A regional report from China indicates that bitcoin mining rig manufacturers have seen a massive surge in demand since the price of the leading crypto asset skyrocketed. Companies such as Canaan Creative have placed significantly sized mining rig orders while other companies like Bitmain are completely sold out. </strong> Bitcoin Mining Rig …

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Report: Bitcoin Mining Firm Northern Data AG Plans for a $500 Million IPO

<div class=”featured_image_container”> </div> <strong>While the public prepares for the upcoming Coinbase public offering, the mining firm Northern Data AG is reportedly planning to go public as well. Sources say that the mining business is in talks with Credit Suisse Group to launch an initial public offering (IPO) in the United States.</strong> Report: Sources Say Northern …

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Russian Crypto Mining Companies Are Expanding Capacity as the Country Becomes a ‘Preferred Hotspot’

<div class=”featured_image_container”> </div> <strong>Crypto mining operations have been witnessing some changes within the industry in terms of locations. A recent interview with the CEO of the mining giant Bitriver, revealed that Russia is becoming a preferred hotspot for crypto miners.</strong> Russian Mining Giant to Build Two Additional Facilities to Cope With the High Demand According …

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Malaysian Police Bust Gang That Stole $2.15 Million Worth of Electricity to Mine Bitcoin

<div class=”featured_image_container”> </div> <strong>Police in Malaysia’s Jahor state have busted a seven-men gang that stole 8.6 million Malaysian ringgits ($2.15 million) worth of electricity to mine bitcoin and other cryptocurrencies.</strong> ● Police said they seized 1,746 bitcoin (BTC) mining machines across 21 premises in raids carried out between Feb.15 and Feb.16, the Malay Mail reported. …

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Bitcoin Mining: Wasted Energy or a Better, Greener System?

Is it wasteful to use electricity mining bitcoin? As the Biden Administration settles into power with an ambitious agenda around clean energy, notably promising to eliminate carbon emissions from the US power generation sector by 2035, the question of bitcoin mining and it’s ever-growing use of energy bubbles up once more. In this episode of …

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Argo Blockchain Buys 172.5 Bitcoins as Reserve Asset, Monthly Revenue Soars 52%

<div class=”featured_image_container”> </div> <strong>Argo Blockchain said Wednesday that it bought 172.5 bitcoins in the second half of January as part of its asset management strategy.</strong> ● In a trading update, the London Stock Exchange-listed bitcoin miner also reported strong revenue growth during the review month, climbing 52% to £2.48 million ($3.37 million) from £1.63 million …

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Bitcoin Miners Strain Under Semiconductor Supply Crunch, Second-Hand Mining Rig Prices Soar

<div class=”featured_image_container”> </div> <strong>Bitcoin mining rig manufacturers are dealing with a semiconductor supply crunch according to regional reports stemming from China. There’s been a global semiconductor supply shortage and it’s affecting nearly every type of business in the supply chain that manufactures cars, PCs, laptops, smartphones, and cryptocurrency mining devices. Moreover, the recent shortage has …

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Marathon Patent Group Buys $150 Million Worth of Bitcoin as a Reserve Asset

<div class=”featured_image_container”> </div> <strong>Marathon Patent Group announced Monday that it bought 4,813 bitcoins in a deal worth $150 million. The firm joins the growing list of publicly listed companies holding bitcoin in their treasuries. </strong> Merrick Okamoto, chairman and chief executive officer of Marathon, said the Nasdaq firm is buying bitcoin (BTC) as a reserve …

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While BTC’s Hashrate Remains High, It’s More Difficult Than Ever Before to Mine Bitcoin

<div class=”featured_image_container”> </div> <span><strong>At the end of January 2021, Bitcoin’s network mining difficulty, a measure of how complicated it is to mine a block reward, is higher than it’s ever been during the crypto protocol’s lifetime. Currently, Bitcoin’s mining difficulty is a whopping 20.8 trillion but despite the handicap, bitcoin miners have continued to keep …

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