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Bitfury and Swiss Investors Launch Bitcoin Mining Fund

Bitfury and Swiss Investors Launch Bitcoin Mining Fund

Bitcoin mining technology firm Bitfury Group, recently valued at USD 1 billion, has entered an alliance with Switzerland-based investment firm Final Frontier to launch a regulated Bitcoin mining fund, as reported by Reuters. Under the supervision of Liechtenstein’s financial regulator, the Financial Market Authority, the fund was developed for both institutional and professional investors to claim access to “the esoteric …


China Firm Mines Bitcoin Secretly, End up Losing $23 Million

China Firm Mines Bitcoin Secretly, End up Losing $23 Million

A Chinese company has sold off its subsidiary at only 10% of the original valuation after suffering losses from suspected secret cryptocurrency mining activities amounting to some USD 23 million. Huatie HengAn, the subsidiary of listed Chinese company Huatie, was reported by local media outlet 8BTC as having been sold for USD 2 million. Just one year ago, it had …


Bitcoin Miners Flock to Canadian Provinces with Low Cost Energy

Bitcoin Miners Flock to Canadian Provinces with Low Cost Energy

An article in Bitcoin Magazine is describing how several provincial governments in Canada are making attractive offers to Bitcoin miners, plying them with cheaper electricity thanks to the country’s cool climate and its abundance of hydroelectricity in return for economic gains. Across Alberta, British Columbia, Labrador, Manitoba and Quebec, Bitcoin miners are answering the call. According to a National Post …


Chinese Miners Struggle for Easy Ride in Iran

Things aren’t turning out to be smooth for Chinese Bitcoin miners heading into Iran to profit from cheaper electricity rates. Long before China hinted it may consider halting Bitcoin mining projects, the exodus began and Iran recently became a hotspot for miners along with parts of South East Asia such as Vietnam and Cambodia. China’s National Development and Reform Commission …


China State Planner Targets Crypto Mining on Clean Up List

China State Planner Targets Crypto Mining on Clean Up List

China’s National Development and Reform Commission (NDRC) is looking to siphon off a number of industries which include cryptocurrency mining as part of a state cleanup. The NDRC of the People’s Republic of China, formerly State Planning Commission and State Development Planning Commission, is a macroeconomic management agency under the Chinese State Council, which has broad administrative and planning control …


Missoula County’s Sole Bitcoin Miner Protests Emergency Ruling

Missoula County’s Sole Bitcoin Miner Protests Emergency Ruling

Just a day after promising to make the Missoula urban area run only on renewable energy by 2030, commissioners in the Montana state county yesterday declared a public emergency to justify interim regulations on new or expanded cryptocurrency mining operations. These are to stay in place until a solution is found. Although the authorities have insisted that it is not …


The Environmental Debate is Here to Stay: Bitcoin Miners Explore Greener Options

The Environmental Debate is Here to Stay_ Bitcoin Miners Explore Greener Options

The power-hungry Bitcoin debate is back on again after the release of the latest research conducted by economist Alex De Vries; the last of which stirred the crypto community into a frenzy in late 2017. One year on, the cryptocurrency ecosystem in all of its forms has developed a far thicker skin. The argument To refresh the original argument posed …


Bitmain Reveals Next-Gen Antminer S17 Launch Date

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Major cryptocurrency mining equipment manufacturer Bitmain has revealed the launch date for its latest technology, the Antminer S17 series. Comprised of three different models: the Antminer S17 Pro, Antminer S17, and Antminer T17, the series will go on sale internationally on 9 April. Bitmain claims the second-generation 7nm ASIC chips will save 28.6% energy consumption during the mining process. While …


Bitmain to Install 200,000 Mining Units in China

Major cryptocurrency mining company Bitmain is reportedly preparing to roll out 20,000 of its own mining units in China to capitalize on the country’s cheap hydroelectric power this summer. The estimated USD 80 million in equipment may actually provide the company higher profits if it chooses to mine cryptocurrency in China rather than sell the equipment on, a source familiar with the matter …


Bitcoin Hash Rate Hits 4-Month High, Sparks Optimism

Bitcoin Hash Rate Hits 4-Month High, Sparks Optimism

Bitcoin’s hash rate has reached the highest levels seen since November 2018. The increase in mining power suggests profits available at the current spot price as well as potentially expectations for a future price increase. Surpassing 52 quintillion hashes per second Tuesday 19 March, mining difficulty has changed little for the last month or so, meaning new miners have had an …


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