Home Tag Archives: cryptocurrency mining

Tag Archives: cryptocurrency mining

Bear Market Hits Hard at Mining Arm of GMO Internet Inc.

In a document released yesterday by Japan-based internet corporation GMO Internet Inc., the internet giant reported a financial loss of JPY 35.5 billion in Q4 2018 alone leading to the unsustainability of its cryptocurrency mining business. The company described the loss as an “extraordinary loss” during a meeting of its Board of Directors. It would seem the market conditions of 2018 …


Study Compares Mineral Mining to Crypto Mining

Mining

A recent scientific study by acclaimed journal Nature has compared cryptocurrency mining to mineral mining in terms of energy used for producing the same market value. The study provides interesting insight into this domain and shows how cryptocurrency mining is affecting the energy footprint in the world. The study, conducted by Department of Energy scientists at the Oak Ridge Institute …


Montana County Postpones Bitcoin Mining Suspension

Montana County Postpones Bitcoin Mining Suspension

Missoula county of the US state Montana has postponed ruling on a decision as to whether Bitcoin mining initiatives should be shut down, as well as the banning of any new projects. The final decision will now be made in August. A lack of information has been cited as the prominent reason behind this deferment, as reported by CoinDesk. A public hearing …


Conditions of Eastern Siberia Appeal to Crypto Miners

Eastern Siberia Appeals to Crypto Miners

The economic region of Russian Eastern Siberia is appealing to cryptocurrency miners, offering cheap electricity to enhance the already attractive features of a cool climate and close proximity to China that the area offers. Cryptocurrency mining is a cost-intensive process, with electricity bills consuming a large chunk of profits, alongside equipment updates and space cooling systems. In Irkutsk, one of the …


Georgia Second Most Active in Crypto Mining

Georgia Second Most Active in Crypto Mining

With a population of fewer than 4 million people, Georgia’s position as second in the world for cryptocurrency mining is an intriguing one. Mining farms US technology company Bitfury accounts for significant portion of the mining activity in Georgia. The company runs a vast data center filled with mining software on the outskirts of the capital Tbilisi, which recently ran into controversy …


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