Mining

Low Energy Proof-of-Work: Bitcoin Improvement Proposal Wants to Change Network’s Algorithm

<div class=”featured_image_container”> </div> <strong>The most topical conversation in the world of cryptocurrencies right now is the effects of bitcoin mining on the global environment after Elon Musk heated up the conversation. Following the recent Tesla announcement, the cofounder of Siphox and Powx, Michael Dubrovsky, revealed the nonprofit Powx has recently submitted a Bitcoin Improvement Proposal …

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The Aspiring Answers to Bitcoin’s Enormous Energy Footprint

<div class=”featured_image_container”> </div> <strong>Following a tweet from Elon Musk highlighting Tesla’s suspension of bitcoin payment acceptance due to sky-high energy needs, the industry quickly responded by highlighting the capable solutions that already address this drawback.</strong> Musk’s Comments Conveniently Ignore Reality of Blockchain Innovation Ever the commentator on all things crypto, Elon Musk took to Twitter …

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Kazakhstan’s government to create roadmap for developing crypto market

Kazakhstan’s government forming a roadmap to stimulate the development of the cryptocurrency industry and blockchain technology in the country. State authorities have reviewed proposals to address the crypto industry’s development and reconsider the state’s approach to regulating crypto operations, according to a Tuesday announcement on the website of the Prime Minister of Kazakhstan. Officials have …

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Report: China’s Bitcoin Hashrate Dominance Dives, ‘North America Could Steal the Lead’

<div class=”featured_image_container”> </div> <strong>A newly published regional report shows that China’s hashrate has likely dropped to 55% while the U.S. has climbed to 11%. Another study predicts that it’s possible North America could overtake China in terms of hashrate by the end of 2021.</strong> Bitcoin Mining Farm Operator Says Mining Industry in North America Is …

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Bitcoin Mining Operation Bitfarms to be Listed on Nasdaq Following DTC Eligibility 

<div class=”featured_image_container”> </div> <b>The Toronto-based Bitcoin mining operation Bitfarms announced the company has been approved for a common stock listing on Nasdaq Global Market tier. The company is already listed on the Toronto Stock Exchange (TSX) and the firm’s Nasdaq listing will be listed under the ticker symbol “BITF.”</b> Bitcoin Mining Operation Bitfarms to be …

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Iran Warns Crypto Investors Amid Ban on Bitcoin Mined Outside Its Borders

<div class=”featured_image_container”> </div> <strong>The Central Bank of Iran has issued a warning against unrestrained crypto trading and reminded investors that only cryptocurrencies minted by licensed miners in the Islamic Republic can be used under limited circumstances. Traders will bear full responsibility for the risks, the bank cautioned, although spending crypto on imports through approved banks …

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Marathon Mines First OFAC Compliant Bitcoin Block

<div class=”featured_image_container”> </div> <strong>Marathon, one of the biggest bitcoin mining dedicated companies in the U.S. and Canada, has mined the first OFAC compliant bitcoin block, only accepting transactions that comply with the directives of this government office. This has caused a stir in libertarian circles, that argue this can be the start of censorship in …

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Climate Change Targets Bitcoin Mining: NY Lawmaker Proposes 3-Year Moratorium on Mining Operations in the State

<div class=”featured_image_container”> </div> <strong>U.S. bureaucrats, particularly Democrats, are concerned about climate change and have introduced lots of legislation in order to address these concerns. Now a lawmaker from New York wants to establish a moratorium for bitcoin mining facilities located in the state, which means cryptocurrency miners in New York would have to halt operations. …

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Bitcoin miners’ revenue rebounds to $60M per day — Is the bull run about to resume?

Bitcoin (BTC) miners collected $60 million on a thirty-day average timeframe as of May 5, showing the first signs of recovery after last month’s severe revenue drop that followed mass miner outages in China’s energy-rich provinces. In April, coal mining accidents and subsequent inspections in Xinjiang lacerated energy supply to the regional cryptocurrency mining industry. …

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2021’s Largest Epoch Drop: Bitcoin Network’s Mining Difficulty Dips Over 12%, Hashrate Nears 200 Exahash

<div class=”featured_image_container”> </div> <strong>Bitcoin’s mining difficulty has seen a massive drop this week, as the metric slid 12.6% and was the largest difficulty drop in 2021. The mining difficulty decline follows the recent electrical outages in China which had affected the network’s hashrate to some degree. Following the difficulty drop, Bitcoin’s hashrate is climbing northbound …

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