Mining

Nvidia Limits the Efficiency of Mining Ether Using Its GPUs by 50%

<div class=”featured_image_container”> </div> <strong>Nvidia announced that it will start limiting the efficiency of mining ethereum or any other crypto using its new range of upcoming graphics processing units (GPUs).</strong> In a blog post published Feb. 19, the U.S. hardware maker said this limitation will feature first on its new Geforce RTX 3060 card, which is …

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Chinese Tea Retailer Joins the Crypto Mining Industry After Hiring Two Roles to Lead Its ‘Bitcoin Business Plan’

<div class=”featured_image_container”> </div> <strong>A Chinese tea retailer is looking to make its inception into the bitcoin mining business. Publicly-listed Urban Tea announced the expansion of its operations by appointing two executives to pursue its crypto plans.</strong> Urban Tea Praises Cryptocurrencies’ Widespread Popularity Per the announcement, Urban Tea Inc. hired Fengdan Zhou as the company’s new …

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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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Chinese Retailer Goes From Bubble Tea to Crypto Mining in Unlikely Pivot

A retailer of specialty teas and baked goods based in Hunan, China is expanding its business into cryptocurrency mining. According to a press release on Thursday, Urban Tea Inc. has hired two new executives ahead of its strategic expansion into its new cryptocurrency venture. Fengdan Zhou has been hired as the company’s new chief operating …

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Russian crypto mining firm scrambles to meet foreign demand

Global cryptocurrency mining operators are increasingly moving their equipment to Russia and the Commonwealth of Independent States as they chase lower energy prices. Igor Runets, founder and CEO of Russian crypto mining firm BitRiver, told local news agency Kommersant Thursday that the company is actively building up its power capacity to meet increasing demand from …

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Massive 70 MW Bitcoin Mining Rig Shipped to Russia

<div class=”featured_image_container”> </div> <strong>Big moves are happening within the bitcoin mining industry in Russia. An unnamed miner sent what seems to be the largest single batch of mining equipment to the country.</strong> Delivery Took Place at the End of 2020 According to Kommersant, the unknown miner shipped almost 20,000 devices on 14 trucks, which have …

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Baidu reportedly aims to address chip shortage plaguing gaming, crypto and cars

A global chip shortage is affecting various sectors of industry from gaming to automotive and cryptocurrency mining. Amid Bitcoin’s (BTC) ongoing bull run, the crypto mining industry became massively profitable. Many miners started aggressively stacking mining hardware —by sometimes unconventional methods— which led to shortages in other sectors. The COVID-19 fueled surge in gaming consoles, computers and …

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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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Ukraine to Set up a Large-Scale Crypto Mining Data Center in a Nuclear Power Plant

<div class=”featured_image_container”> </div> <strong>Ukraine’s government-owned nuclear power plant picked a firm to build a massive data center in Rivne for cryptocurrency mining operations. After a bidding process, Energoatom chose Kyiv Energy Construction Company to handle the nuclear plant crypto mining project.</strong> Nuclear Power Plant Operator Expects to Launch the Data Center in 2022 According to …

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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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