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Bitmain Resurrects IPO Plan, Seeks $500 Million

Bitmain Resurrects IPO Plan, Seeks $500 Million

Bitmain Technologies Ltd is reportedly resurrecting plans for an initial public offering (IPO), according to sources close to the company. The news came on the back of a new high for Bitcoin in 2019, just before it broke the psychological USD 10,000 barrier today. People in the know at the world’s largest producer of crypto mining chips told Bloomberg that the …

Bitmain Sues Ex-Employees for $4 Million

Hong Kong Protests Nudge Bitcoin Demand Up (2)

Bitmain, one of the largest Bitcoin mining equipment manufacturers in the world, is now suing three former staffers behind rival mining pool Poolin. The chip manufacturer is seeking USD 4.3 million in damages after claiming that the Poolin co-founders were in violation of non-competition clauses, although the defendants are saying that these clauses were made void when Bitmain did not …

Old Mutual Decides Against Insuring Mining Rigs

Old Mutual Decides Against Insuring Mining Rigs

A pan-African insurance firm, Old Mutual, has issued a statement saying that it will not insure equipment used in Bitcoin and crypto mining, citing the high expense, risk, and speculative nature of the sector. A CoinDesk article detailing this news says that Old Mutual is only following the ban on insurance cover for mining rigs, especially because crypto is still …

Iran Wants to Charge Bitcoin Miners “Real Price” for Power

Iran may soon ask Iran Bitcoin mining operators to pay the full price of electricity, if a report by the Financial Tribune is accurate. According to the report, Iran’s Minister of Energy Homayoun Haeri has said that crypto miners operating from Iran should be paying “real prices and not be subsidized by the government”. The state reportedly has an energy subsidy of …

Study: Over 74% of Bitcoin Mining is Powered by Renewable Energy

Study_ Over 74% of Bitcoin Mining is Powered by Renewable Energy

CoinShares – a crypto investment product and research company – has made a conservative estimate in its semi-annual report published on 5 June 2019, that renewable energy is used to power 74.1% of the global Bitcoin mining. This report also highlighted that the mining operations of the Bitcoin are conducted in areas with high sources of renewable energy.   For …

Tehran’s Water Themed JCPOA Tower Would Double as Crypto Mining Center

iran, jcpoa, cryptocurrency, mining

In Iran, a visionary skyscraper which includes a cryptocurrency mining facility is on the drawing board as part of the 2019 Evolo Skyscraper Competition. Named the JCPOA Tower, the structure is essentially a complex water theme park rising to 1837 ft (560 meters) with an open tiered system which allows spectators to view the swimming pools and internal structures that …

Oldest Bitcoin Mining Pool Rebrands

Oldest Bitcoin Mining Pool Rebrands

The business entity behind Slush Pool, the first Bitcoin mining pool to have ever made public its services, has just announced a rebrand, as reported by CoinDesk. One of the most recognized names in the Bitcoin mining industry, Slush Pool’s operator, Braiins, claims on its website that over a tenth of all new Bitcoin generated from mining is done through …

Bitcoin Rally Prompts AMD Boost as Semiconductor Stocks Fall

Bitcoin Rally Prompts AMD Boost as Semiconductor Stocks Fall (1)

The Bitcoin market may have brought smiles to the faces of cryptocurrency speculators, but chipmakers AMD will also be laughing to the bank during this bull run. All this is thanks to increased demand from mining operators firing their equipment up again with rising Bitcoin prices making Bitcoin mining favorable once more. All this is happening while other semiconductor companies …

Australian IT Worker Charged for Crypto Mining at Government Agency

Australian IT Worker Charged for Crypto Mining at Government Agency (1)

Another case of an opportunist tapping into government computer systems in order to mine cryptocurrency has been revealed; this time in Australia. An Australian IT worker is facing charges after allegedly abusing his position as a contractor and illegally using government agency computer systems, according to Sydney police. Although the activity of illegally using government equipment for mining is quite …

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