Articles filed under

Mining

376 articles
Page of 6

June 2021

Iran seizes record haul of 7,000 crypto mining machines

Iranian police have confiscated 7,000 cryptocurrency mining machines from an abandoned factory in western Tehran, the largest batch discovered in recent days.

New crypto mining hot spots emerge; Korea crypto controversy escalates | The Daily Forkast

The next generation of mining hot spots are shaping out in the aftermath of China’s mining exodus as Upbit’s delisting generates new enemies.

Chinese crypto miners head west as Beijing’s crackdown gains pace

Kazakhstan offers nearby bolthole as North America and Europe beckon.
and

Bitcoin hashrate plunges as Chinese crypto mining crackdown hits Sichuan

The Bitcoin hashrate plunged over the weekend following a clampdown on cryptocurrency mining by the southwestern Chinese province of Sichuan.

Miami woos crypto miners fleeing China

The city’s mayor says it welcomes an exodus of miners from China amid a generalized clampdown on the industry.

Chinese crypto mining ban coming to Sichuan — reports

Miners face imminent shutdown as power companies told to cut electricity, according to multiple reports.

‘China’s Robinhood’ halts CME crypto futures services amid sector clampdown

Chinese stock trading app Futu Niuniu has suspended Chicago Mercantile Exchange cryptocurrency futures services and stopped supplying crypto market information.

Bitcoin bounces back. Criminals choose crypto. Chinese mining redoubt faces scrutiny.

Top blockchain and crypto news: Bitcoin finds fresh favor in Global South. Why would hackers demand a Bitcoin ransom? Chinese miners eye Yunnan probe.

Yunnan mining ban clarified; Korean exchanges start ‘coin thinning’ | The Daily Forkast

Chinese authorities provide more details on its notice issued to the local mining industry while South Korean exchange start ‘coin thinning’.

Chinese province of Yunnan puts crypto mining under the microscope

Following rumors of a possible ban on cryptocurrency mining in the province last week, its energy regulator has clarified an approach to the industry that looks set to rein in rogue operators.

Bitcoin mining difficulty drops twice in a row to new 2021 low

On June 14, the difficulty of Bitcoin mining fell 5.3%, the first time this year that there have been two consecutive downward adjustments.

Yunnan warns miners over power use; WazirX faces gov’t heat | The Daily Forkast

China’s crypto mining crackdown continues while Indian finance authorities probe one of the nation’s largest exchange WazirX.

Hundreds of Bitcoin mining rigs seized in Malaysia police raids

Four people have been arrested and more than 400 Bitcoin mining machines seized by police in the Malaysian city of George Town.

Bitmain rallies crypto miners to ponder options as industry eyes China exit

Chinese crypto mining rig maker Bitmain is reportedly set to meet with miners and industry participants next week to discuss relocating mining operations overseas.

IMF targets El Salvador’s Bitcoin adoption, citing financial and legal concerns

The International Monetary Fund (IMF) will meet with El Salvador’s President Nayib Bukele to finalize discussions around a pandemic relief loan to support the Central American nation. In a Thursday press briefing, IMF spokesman Garry Rice also implied that El Salvador’s decision to make Bitcoin a national currency will be a focus of the meeting for the IMF team.

Bitcoin hot in Singapore; China crypto mining bans widen | The Daily Forkast

El Salvador’s adoption of Bitcoin has the world buzzing. Can Singapore be next? China mining crackdown continues.

Hashrate drops as Chinese crypto mining ban extended to more provinces

Cryptocurrency mining prohibition in Xinjiang and Qinghai follows Inner Mongolia ban.
and

China’s Xinjiang and Qinghai regions ban cryptocurrency mining

Xinjiang and Qinghai regions in China are now banning cryptocurrency mining, after Inner Mongolia tightened its crypto mining ban last month.

New York State passes bill restricting Bitcoin mining

A bill restricting the granting of crypto mining permits on environmental ground has passed the New York State Senate.

Iranian president calls for crypto regulation to mitigate risks

Iran wants to “preserve and protect national interests” in the field of digital currencies and cryptocurrencies, Iranian President Hassan Rouhani says.

India crypto feud continues; Korea mining thief busted | The Daily Forkast

Regulatory uncertainty pushes India’s crypto industry towards self regulation as a secret Ethereum miner gets busted in Seoul Arts Center.

Bitcoin mining rig maker Canaan to open service center in Kazakhstan

Canaan, one of the largest crypto mining rig makers in the world, is opening its first-ever service center outside China—in Kazakhstan.

Chinese crypto social media crackdown; Seoul tightens rules on crypto | The Daily Forkast

Chinese social media Weibo bans crypto accounts as employees of South Korean crypto exchanges can no longer trade on their own platforms.

NortonLifeLock bids to turn users into home Ethereum miners

Users of cybersecurity product NortonLifeLock will soon be able to mine Ethereum on their home computers through a new feature named Norton Crypto.

Crypto mining rig maker Goldshell to launch ‘mine-at-home’ kits in Asia

Crypto mining equipment manufacturer Goldshell has announced that it will launch a new line of mining rigs designed specifically for home use in Asian markets.

How serious is the threat of Bitcoin mining to the environment?

Is Bitcoin’s carbon footprint a growing risk to Earth, or is it a red herring? On this year’s United Nations World Environment Day, crypto mining is a hot topic.

Governments meet crypto industry; Hope for Bitcoin miners in Sichuan | The Daily Forkast

Governments meet up with the crypto industry to discuss how to regulate the booming industry as BC Group’s OSL ties up with SC Ventures.

Bitcoin mining rig maker Canaan reports huge jump in overseas sales

Chinese Bitcoin mining hardware maker Canaan says overseas sales accounted for almost four-fifths of its revenue during the first quarter of 2021.

‘Green’ crypto mining should be spared crackdown, Canaan chief says

Green crypto mining operations should be spared China’s recent crackdown on the sector, according to the CEO of Canaan Inc.

What’s up with Taproot, the biggest proposed change to Bitcoin since 2017?

Bitcoin’s proposed Taproot update for smart contracts and privacy has wide verbal support from miners, but will they put their crypto where their mouth is?

Robinhood’s Chinese rivals to launch crypto services abroad

China-based trading apps Futu and Tiger Brokers have announced plans to move into crypto to compete outside China with apps such as Robinhood and eToro.

May 2021

Bitcoin mining difficulty drops 16% amid Chinese regulatory headwinds

The latest Bitcoin mining difficulty adjustment, made at 1 a.m. UTC on May 30, saw the difficulty of Bitcoin mining drop 15.97%.

Chinese province’s hydropower gives hope to crypto miners following crackdown elsewhere

Energy regulators in the southwestern Chinese province of Sichuan, which has abundant hydropower resources, will hold a seminar on June 2 to assess the province’s cryptocurrency mining industry, fanning hopes among miners that the beleaguered sector may be given a reprieve from its recent hardships in China.

Crypto miner BitDeer blocks China users as Beijing gets tough on sector

BitDeer, one of China’s biggest crypto mining operators, blocked access to anyone using a mainland Chinese IP address last night.

Can Elon Musk shrink Bitcoin mining’s carbon footprint? PancakeBunny’s $200 million hack. Ray Dalio admits to owning crypto.

Other top blockchain and crypto news: Australia signals progressive approach to crypto as Hong Kong moves closer to banning retail crypto trading.

Crypto market rebound as investors go green; Indonesia plans CBDC | The Daily Forkast

Investors are turning to green alternatives to tackle Bitcoin’s impact on the environment as Indonesia gears up for a CBDC.

BIT Mining to invest US$9M in crypto mining in Kazakhstan

Chinese crypto mining firm BIT Mining is investing US$9.33 million to construct and operate a mining data center in Kazakhstan.

Inner Mongolia takes steppes to tighten crypto mining ban

The Chinese region of Inner Mongolia – once a thriving cryptocurrency mining hub that has recently enacted a series of measures to rein in the sector – has unveiled eight new proposals designed to give added force to its recently imposed, all-out ban on crypto mining.

China crypto crackdown fallout; Politician turns influencer in Korea | The Daily Forkast

China’s miners prepare for migration and Hong Kong reacts to possible retail ban. Meanwhile a South Korean governor becomes a crypto influencer.

Cardano sees US$10M inflows as big investors switch to proof-of-stake coins

Amid declines in Bitcoin and Ethereum, Cardano and its native cryptocurrency ADA saw US$10 million inflows as institutional investors switch to proof-of-stake coins.

China’s cryptocurrency mining sector becomes target of fresh clampdown 

Chinese authorities’ latest regulatory offensive against the crypto industry may not be as bad for the sector as it appears.

Marathon to host 73,000 Bitcoin miners in Texas as Chinese exodus looms

Marathon Digital Holdings has announced a deal with Compute North to host 73,000 of Marathon’s Bitcoin miners at a new data center in Texas.

Bitcoin rallies as Elon Musk meets with miners in green energy push

Bitcoin has rallied to nearly US$40,000, boosted by tweets from Tesla founder Elon Musk and MicroStrategy CEO Michael Saylor announcing that they have met with North American miners of the cryptocurrency to promote a renewable energy initiative.

Bybit crypto derivatives exchange launches cloud mining for Ether

Crypto exchange Bybit is launching cloud mining to provide exposure to Ether. What happens when Ethereum moves from proof of work to proof of stake?

China announces plan to crack down on Bitcoin mining

The price of Bitcoin fell by over 10% following an announcement by China’s State Council today that it is planning to crack down on Bitcoin mining and trading and “resolutely prevent the transmission of individual risks to society.” Fast Facts: The 51st meeting of the State Council Financial Stability and Development Committee called for the […]

Meitu, Chinese crypto-invested firms’ stock slammed by Bitcoin crash

Hong Kong-listed beauty app Meitu and other companies that have invested in cryptocurrencies have seen millions of dollars wiped off the value of their stock following the huge global Bitcoin sell-off this week.

What’s really behind the Bitcoin market crash? Tether USDT lifts veil on reserves. Facebook-backed Diem going to California.

Other top blockchain and cryptocurrency news: BlockFi’s accidental BTC millionaires. China’s Inner Mongolia asks citizens to report illegal crypto mining.

Illegal crypto mining in Inner Mongolia’s crosshairs as reporting hotline set up

The Chinese region of Inner Mongolia is urging members of the public to report all cases of cryptocurrency mining, setting up a reporting hotline, an office address and an email address to solicit tips for law enforcement authorities.

China’s BIT Mining inks deal for U.S. data center joint venture

Chinese cryptocurrency miner BIT Mining has signed a deal to build a data center in Texas.

Bitcoin drops below US$40,000; China sends another crypto warning | The Daily Forkast

China’s newest warning against crypto sends market into nosedive and Bitcoin dips below US$40,000 for the first time since February.

China-based SOS announces activation of 6,039 mining rigs for ETH, BTC

Qingdao-headquartered tech company SOS Ltd. has announced the launch of more than 6,000 ETH and BCT mining rigs, claiming 90% renewable energy sources.

Riot Blockchain’s Bitcoin mining revenue soars 881% to US$23.2M

American Bitcoin miner Riot Blockchain’s mining revenue skyrocketed almost tenfold to US$23.2 million in the first quarter of 2021, according to a U.S. Securities and Exchange Commission filing.

New York’s Bitcoin mining showdown sets stage for battles elsewhere

A dispute over a Bitcoin mine’s environmental impact leads to a push to ban crypto mines in New York state. Will other places follow Albany’s lead?

China’s miners on Tesla’s Bitcoin 180; Animoca Brands — a star is born | The Daily Forkast

Asia’s crypto industry reacts to Tesla backtracking Bitcoin payments, while Animoca Brands raises US$88,888,888 in a new funding round.

Chia mining craze is causing massive hard drive shortages in China

The new self-proclaimed eco-friendly crypto leverages unused disk space — but Chia miners are buying out new hard drives and equipment instead.

“Everyone has been bitten by the Chia bug”; Indian banks puzzle crypto | The Daily Forkast

The Chia craze keeps on going while the Indian crypto industry speaks out against banks blocking crypto transactions.

Dogecoin keeps on barking; Mining for Chia heats up | The Daily Forkast

Dogecoin breaks another ATH while Chinese electronics vendors say that Chia is the hottest mining project in the mainland.

Vietnam faces hard drive shortage due to Chia mining craze in China

Large capacity hard drives are selling like hotcakes in Vietnam as locals capitalize on China’s demand for Chia mining power.

April 2021

China’s crypto miners make hard choices to meet climate goals

With Inner Mongolia banning crypto-mining and Xinjiang expected to soon follow, China’s crypto miners are turning to green energy or moving overseas.

Nexon bags $100 million in Bitcoin; Inner Mongolia crypto mining exodus | The Daily Forkast

Nexon added 1,717 Bitcoins into its corporate treasury while deadline for Inner Mongolia’s closure of crypto mining operations approaches.

Binance dives into NFT; S.Korea’s FSC checks staff for crypto trading | The Daily Forkast

Binance announces its upcoming launch of an NFT marketplace while South Korean regulator asks staff to disclose personal crypto investments.

South Korean cryptocurrency industry claps back; Bitcoin’s nosedive | The Daily Forkast

Crypto investors in South Korea stir petitions to unseat the nation’s financial watchdog chief for his anti-crypto remarks.

Global crypto alliance pushes renewable energy and greener digital assets

The Crypto Climate Accord — a joint effort that includes World Economic Forum, ConsenSys and Ripple — is aiming for net-zero crypto emissions by 2040.

Why Bitcoin’s carbon footprint may not be bad as you might think

As we observe Earth Day, let’s not scapegoat cryptocurrency. The truth about renewable energy and electricity use by banking and gold may surprise you.

What is Bitcoin’s environmental impact — and what are the solutions?

The recent steep rise in Bitcoin and Ethereum prices has also led to more crypto mining and energy-consumption, much of it still powered by coal.

March 2021

China opens digital currency door to all. NFTs go wild. Is Singapore’s Temasek buying virgin Bitcoin?

Other top blockchain and cryptocurrency news: Bitcoin prices rise as BTC and ETH options expire. DeFi market steps up as Elon Musk says, ‘Don’t defy DeFi.’

Bithumb, OKEx roiled by Korea’s new law. Why Thailand hates baht-pegged stablecoins. What’s behind Metakovan’s NFT art buys?

Other top blockchain and crypto news: Japan’s SBI Crypto opens mining pool to public. In China, more companies turn to crypto to boost bottom line.

Chia Network launches eco-friendly blockchain and XCH cryptocurrency

Founded by BitTorrent creator Bram Cohen, Chia Network’s new ‘proof of space and time’ blockchain aims to be a more sustainable alternative to bitcoin.

Are bitcoin ETFs coming soon to America? Korea’s Shinhan Bank joins CBDC pilot. Argo seeks greener crypto pastures in Texas.

Other top blockchain and cryptocurrency news: As China tightens vise on crypto, Beijing to host 60-artist crypto art exhibition featuring NFT superstar Beeple.

China’s bitcoin miners flee Inner Mongolia ahead of crypto mining ban

One of world’s biggest bitcoin-producing regions will soon ban cryptocurrency mining to meet China’s clean air goals. Where will all those miners go?

Non-crypto firms in China jump into bitcoin mining to lift fortunes

Inspired by bitcoin’s boom, companies with no business in crypto are pivoting to cryptocurrency mining. A New York investors lawsuit offers a cautionary tale.

February 2021

Bitfinex, Tether banned in New York. No end yet to Ripple XRP’s SEC lawsuit woes. CBDC bridge for Asia and Middle East.

Other top blockchain and crypto news: Bill Gates on bitcoin. Nvidia protects gamers from crypto miners with separate CMP and GeForce RTX graphics cards.