Crypto Analyst Says ‘BTC Miners Sell Roughly 100% of the Coins They Mine’

On Monday (26 December 2022), Thomas Dunleavy, Senior Research Analyst at Messari, looked at $BTC selling by Bitcoin miners in 2022. Dunleavy said: Messari Co-Founder Don McArdle offered this reply to Dunleavy’s tweet: “Iirc, before a big % of mining was done by a bunch of debt-financed public cos, miners tended to hodl a fair […]

Microsoft Bans Use of Its Cloud Services for Crypto Mining Unless There Is ‘Prior Written Approval’

Microsoft has quietly updated the license terms for its online services such that customer can no longer “mine cryptocurrency without Microsoft’s prior written approval.”   As The Register first reported, the update to the Universal License Terms for Online Services became effective on 1 December 2022. The Acceptable Use Policy states: “Neither Customer, nor those that […]

Russian Crypto Miners Reportedly Ramping Up Their Spending on ASIC Devices

Miners in Russia have remained unfazed by the crypto bear market and are using the opportunity to hoard ASIC devices.  According to a report by Cointelegraph, citing Russian news agency Kommersant, the demand for crypto mining hardware by Russian customers has surged during the final quarter of the year. Several crypto mining distributors in Russia […]

Bitcoin ‘Mining Industry Is Under Under Extreme Stress’, Says Crypto Analytics Firm

Glassnode, the startup behind “the world’s leading blockchain data and intelligence platform”, seems concerned about Bitcoin miners. Earlier today (6 December 2022), Glassnode said: “The Bitcoin protocol has just decreased mining difficulty by -7.3%, the largest downwards adjustment since July 2021. Given depressed coin prices, rising energy costs, and debt burdens, the mining industry is […]

$BTC: Morgan Creek Digital Assets Partner Says ‘Miner Capitulation Is in Full Effect’

On Tuesday (29 November 2022), Jason A. Williams, a founding partner of Morgan Creek Digital Assets, and the author of the book “Bitcoin: Hard Money You Can’t F*ck With“, explained why this could be a great time to buy Bitcoin. Williams told his over 207K Twitter followers: “BREAKING #BITCOIN MINING NEWS : Miner Capitulation is in […]

$BTC: Researchers at the University of New Mexico in Albuquerque Have a Beef With Bitcoin

A recent study compared the negative impact of Bitcoin mining to that of cattle farming and burning gasoline.  According to a report by Bloomberg, researchers at the University of New Mexico in Albuquerque have found that Bitcoin mining’s impact on the climate is comparable to other negative influences, such as farming cattle and gasoline burning, […]

$BTC: You Can Now Buy Bitcoin Mining Hardware at American Retail Giant Walmart

As Bitcoin Magazine pointed out on Thursday (4 November 2022), it looks like you can now buy all kinds of Bitcoin-related products at American multinational retail corporation Walmart; this includes ASIC-based Bitcoin mining hardware from Bitmain. The most expensive Bitcoin mining product they seem to offer is Bitmain Antminer S19J Pro (released in November 202), […]

Crypto Miner Core Scientific’s Stock (Nasdaq: CORZ) Is Down Nearly 98% This Year

On Thursday (October 27), in a filing with the U.S. Securities and Exchange Commission (“SEC”), Core Scientific (Nasdaq: CORZ), which is one of the world’s largest publicly-traded crypto mining companies, disclosed that it was having financial difficulties, which could lead to the firm going bankrupt. Core Scientific has three lines of business: “Purpose-built development and […]

$BTC: Michael Saylor on ‘Bitcoin Mining and the Environment’

On Wednesday (September 14), Michael Saylor, Co-Founder and Executive Chairman of business intelligence software company MicroStrategy Inc. (NASDAQ: MSTR), decided to address some of the “misinformation & propaganda” surrounding the impact of Bitcoin mining on the environment. It is worth remembering that on 11 August 2020, MicroStrategy announced via a press release that it had “purchased 21,454 bitcoins at […]

Switching to Renewable Energy Can Improve Crypto Mining Dramatically

Crypto mining requires huge amounts of electricity and is becoming less profitable due to the cryptocurrency market downturn. To avoid a mining ban and continue to earn, miners are switching to green mining to get the cheapest energy possible. Bitcoin mining requires more and more energy because of increasing difficulty in opening each subsequent block. […]

$ETH: Popular Crypto Analyst Shares His Thoughts on a Potential PoW Fork of Ethereum

On Saturday (August 6), popular pseudonymous crypto analyst “Hasu”, who is the Stratey Lead at Flashbots, shared his latest thoughts on a potential upcoming fork of Ethereum around the time of Ethereum’s “Merge” hard fork (which is when the Ethereum network is making the transition from proof-of-work to proof-of-stake). Flashbots is “a research and development […]

How Long Does it Take to Mine 1 Litecoin?

Litecoin (LTC), created by former Google employee Charlie Lee, was released in 2011 as an alternative to Bitcoin and has gained popularity ever since, with various users mining it. With new crypto miners coming on board every day, many people wonder how long it takes to mine 1 Litecoin. After all, finding out how much […]

This Luxury Residential ‘Crypto Building’ Will Have a Bitcoin Mining Farm in the Basement

A new luxury residential development being built in Belgrano, a prestigious neighbourhood in Argentina’s Capital Buenos Aires, calls itself a “crypto building” since a Bitcoin mining farm installed in the basement will help the owners with paying the building’s expenses. Newlink Capital, the developer behind “Next Pampa 2.0“, says that this is “an intelligent residential building that […]

Senator Durbin Unhappy With ‘Obscene Amounts of Electricity’ Needed for Crypto Mining

On Saturday (July 16), U.S. Senator Dick Durbin made it very clear that he is not happy with the energy consumption of crypto mining. Senator Dick Durbin, is “a Democrat from Springfield, is the 47th U.S. Senator from the State of Illinois, the state’s senior senator, and the convener of Illinois’ bipartisan congressional delegation.” He […]

One of America’s Largest Crypto Miners Sold 79% of Bitcoins on Its Balance Sheet in June

On Tuesday (July 5), Core Scientific, Inc. (NASDAQ: CORZ), “a leader in high-performance blockchain data centers and software solutions”, explained why it had to sell 7,202 of the bitcoins on its balance sheet. Core Scientific has “operated blockchain data centers in North America since 2017, using its facilities and intellectual property portfolio for colocated digital […]

Australian Man Explains How Crypto Helped Him to Buy Brisbane House Mortgage Free

Australian crypto miner Joe Bridge recently explained how he was able to buy his first house, boats, and motorcycles using the small fortune he amassed from crypto mining. According to a report by Australia’s ABC published on June 30, the 38-year-old first became involved in crypto mining in 2013 while living with his parents in […]

Bitcoin Mining Firms Thriving in China Despite Ban

Despite the ban on Bitcoin mining in China, the industry appears to be thriving.  A report by CoinDesk published on May 17 says that — “according to the CCAF’s Bitcoin Electricity Consumption Index (CBECI), which maps the mining activity around the world based on the geolocational data reported by partnering pools” — China was the […]

Norwegian Parliament Votes Down Proposal to Ban Bitcoin Mining

The Norwegian Parliament voted down a proposal banning Bitcoin mining, allowing the crypto mining industry to continue to thrive in the country.  According to a report by Cointelegraph, the proposal — first suggested in March by the Red Party — was rejected by a parliamentary vote on May 13. The ban failed to gain political […]

Australian Bitcoin Mining Firm Not Worried About Recent Crypto Market Correction

A major Australian Bitcoin mining firm does not appear concerned about profitability of its operation despite the current bear market. According to a report by The Sydney Morning Herald on May 12, Daniel Roberts, co-founder and CEO of Australian-founded sustainable Bitcoin mining company Iris Energy remains unmoved by the rapid changing $BTC price. Roberts, based […]

What is the Blake256r14 Algorithm? Blake256r14 Coin List

Cryptographic hash functions are vital security components of current computers. They form a key part of digital signatures, message authentication codes, and other security protocols. So far, there are four series of cryptographic hash functions generally known as Secure Hash Algorithms (SHA). These are SHA-0 (published in 1993), SHA-1 (published in 1996), SHA-2 (published in […]

Fort Worth, Texas Set to Become First U.S. City To Mine Bitcoin

Fort Worth city council has approved a pilot Bitcoin mining project as part of a set of measures designed to make the city become a leading technology hub. According to a report by CNBC, Fort Worth’s mayor Mattie Parker oversaw the construction of a small mining farm in City Hall in order to mine Bitcoin. […]

One Bitcoiner Is Using Waste Heat From BTC Mining Hardware to Warm His Swimming Pool

One enterprising Bitcoin miner is using the energy produced by his mining hardware to heat his swimming pool.  According to a report by Cointelegraph, Minnesota-based Bitcoin mining enthusiast Jonathan Yuan wanted a solution for his children’s love of swimming. Yuan said his kids were unable to use their swimming pool for the majority of the […]

Intel Unveils Its New Energy-Efficient Bitcoin Mining ASIC Chip

Intel has unveiled its latest application-specific integrated circuit (ASIC) chip, which will “provide customers with energy-efficient hashing for proof-of-work consensus networks.” On April 4, Intel Corporation issued a press release to announce details of the Intel Blockscale ASIC.  Balaji Kanigicherla, Intel vice president and general manager of Custom Compute in the Accelerated Computing Systems and Graphics Group, […]

New York Times Article Claims One Bitcoin Transaction Uses 2,000 kWh of Electricity

In a New York Times (NYT) article — published yesterday (March 22) — about the crypto mining industry’s focus on renewable energy, it was mentioned that according to some estimates “a single Bitcoin transaction now requires more than 2,000 kilowatt-hours of electricity.” The NYT article, which was written by technology reporter David Yaffe-Bellany, started by […]

“Shark” Explains How Institutional Investors Have Found a Way To Own “Green” Bitcoin

Celebrity investor Kevin O’Leary (aka “Mr. Wonderful” on ABC TV series “Shark Tank“) says that institutional investors concerned about the environmental impact of Bitcoin have found a new — albeit indirect way — to own “green” Bitcoin. According to the transcript (by The Daily Hodl) of an interview that was released on his YouTube channel last Friday […]

Elon Musk’s Brother: ‘When We Invested in Bitcoin, We Were Very Ignorant’

Kimbal Musk, the brother of Tesla Co-Founder and CEO Elon Musk, says that the electric vehicle manufacturer was originally “very ignorant” of Bitcoin’s environmental concerns when it added BTC to its balance sheet.  As you may remember, on 8 February 2021, Tesla filed an annual report with the U.S. Securities and Exchange Commission (SEC) on […]

Intel Unveils Its Energy-Efficient Bitcoin Mining ASIC Chip

On Sunday (February 20), Intel unveiled its second generation Bitcoin mining ASIC, which is called Bonanza mine (BMZ2). On February 16, Intel Corporation CEO Patrick Gelsinger explained how his company’s upcoming crypto mining chip could help to solve Bitcoin’s “climate issue”. According to his LinkedIn profile, Gelsinger started his career in October 1979 by becoming senior vice president and […]

Intel Wants to Solve Bitcoin’s “Climate Issue” With Its Upcoming “Blockchain Chip”

Yesterday (February 16), Intel Corporation CEO Patrick Gelsinger explained how his company’s upcoming crypto mining chip could help to solve Bitcoin’s “climate issue”. According to his LinkedIn profile, Gelsinger started his career in October 1979 by becoming senior vice president and the general manager of the Digital Enterprise Group, and he kept these positions for […]

State of Georgia Is Becoming a Hot Spot for Bitcoin Mining

A recent report claims that America’s Bitcoin miners are increasingly finding the state of Georgia attractive as a base of operations.  According to a report by Bloomberg published on February 7, the U.S. has become the world’s top destination for crypto miners following China’s ban on crypto mining (with its energy-intensive practices). Hundreds of thousands […]

Texas Governor Greg Abott Welcomes Bitcoin Miners, Texas Senator Ted Cruz Buys the Dip

Texas Governor Greg Abbott is welcoming Bitcoin miners to his state, claiming that the new industry of digital asset mining could help stabilize the electricity grid which struggles to keep up with demand.  According to a report by Decrypt, Governor Abbott, alongside several other prominent Texas politicians including Senator Ted Cruz and Austin Mayor Steve […]

European Securities and Markets Authority Vice-Chair Wants EU to Consider Ban on PoW Crypto Mining

A top European securities regulator says that the EU should consider banning energy-intensive forms of crypto mining. Speaking in a recent interview with the Financial Times, vice-chair of the European Securities and Markets Authority Erik Thedéen argued Bitcoin mining has become a national issue and warned of the risks posed to the environment and climate […]

Kosovo’s Government Stirs Panic After Announcing Ban on Crypto Mining

The government of the Republic of Kosovo has caused a panic among crypto miners in the Balkan country after announcing that it would temporarily ban all crypto mining activities.  According to a report by The Guardian, crypto miners are selling the mining equipment at bottom-barrel prices in an effort to recoup some of their investment […]

Latest Bitmain Bitcoin Mining Rig to Include Liquid Cooling Technology

Bitmain is adding liquid cooling technology to its latest Bitcoin mining rig, the Antminer S19 Pro+ Hyd. According to a report by CoinDesk, Bitmain, one of the world’s largest Bitcoin mining rig manufacturers, has added liquid cooling technology for the first time in its latest product release. The Antminer S19 Pro+ Hyd., will have a […]

How New York’s Shuttered Power Plants Are Leading to a Boom in Bitcoin Mining

A recent report by The New York Times (NYT) explains why there is currently a “Bitcoin boom” in the Empire State.  According to a NYT report published on December 5, cheap power and lax regulations have led to a Bitcoin mining industry to thrive in New York state. The report talks about a new Bitcoin […]

Shiba Inu: TikTok Influencer Mines 14,323 $SHIB per Day on Two Old Laptops

Recently, TikTok influencer Hai Dinho explained why and how he is mining Shiba Inu ($SHIB) at home. What Is Shiba Inu ($SHIB)? Here is how South Korean crypto exchange Korbit described this meme-based cryptocurrency when it announced on November 23 that it was going to list $SHIB: “SHIB is inspired by Dogecoin. Last August, anonymous developer Ryoshi developed […]

Supply Chain Crisis Hits Bitcoin As Mining Companies Scramble To Meet Demand

The supply chain crisis, which has affected the shopping habits of consumers across the globe, has extended to Bitcoin and digital assets.  According to a report by Quartz, mining companies are being hindered by the logjam in the global supply chain, resulting in delayed shipments of “miners,” — Sony Playstation-sized computers that operate exclusively to […]

Twitter CEO Says His Other Company Is Considering Building an Open Bitcoin Mining System

Jack Dorsey, the American billionaire who is the co-founder and CEO of microblogging platform Twitter and the CEO of payments solutions provider Square, says the latter is “considering” building an “open” Bitcoin mining system. Square was founded in February 2009, or just one month after Bitcoin’s initial release. The three co-founders are Jack Dorsey, Jim McKelvey, and Tristan […]

Some of North America’s Largest Bitcoin Mining Firms Reportedly HODLing Over 20,000 BTC

According to a recent research report, several publicly listed Bitcoin mining companies are holding more than 20,000 BTC (currently worth around $1.15 billion). According to The Block’s report, “based on their latest monthly production data released recently, Riot, Marathon, Bitfarms, Hut8, Greenidge, Argo, and HIVE have mined a total of 6,463 BTC in Q3, which […]

$411 Billion Financial Services Firm Partners With Blockstream To Get Into Green Bitcoin Mining

On Wednesday, Blockstream, a firm focused on building “crypto-financial infrastructure based on Bitcoin” announced a partnership with financial services group Macquarie to “develop and manage best-in-class, zero-emission Bitcoin mining facilities.” Blockstream offers three types of Bitcoin mining services: Colocation: You use one of their mining facilities in North America, where you can get access to […]

Two Enterprising Kids Mine $35K a Month in $ETH Out of Their Garage

Two enterprising American boys managed to generate $35,000 a month via an Ethereum ($ETH) mining operation they set up in their garage.  According to a report by Westport News (first reported by The Dallas Morning News), American brothers Ishaan and Aanysa Thakur, aged 14 and 9 respectively, who live in Frisco, Texas, have generated $35K […]

President of Belarus: “Start Mining Cryptocurrencies or Whatever It’s Called”

The President of Belarus has recommended the government begin mining cryptoassets with spare electricity.  As Cointelegraph reported yesterday, using Russian news agency RBC as their source, President Alexander Lukashenko spoke at the opening of the Petrikovksky mining and processing plant on August 27, proposing that the state get involved with mining crypto. Lukashenko advised workers […]

Bitcoiner Uses Portable Mini Rig to Mine BTC at Starbucks

Recently, Idan Abada, the owner of an online store (“Bitcoin Merch“) that specializes in crypto mining equipment, shared on TikTok a video of him using “free” electricity at a Starbucks cafe to mine Bitcoin on his laptop via a custom mini mining rig. In this TikTok video, we see Abada, who lives in Los Angeles, […]

Cambridge University: Bitcoin Mining Is Now More Environmentally Friendly

A new study from Cambridge University shows that the impact of Bitcoin mining on the environment is not nearly as bad as previously believed.  According to a report by CNBC, data published from Cambridge University shows that the geography of Bitcoin mining has evolved over the past six months, leading to an improvement in the […]

1897-Built New York Power Plant Turns to Bitcoin Mining for Better Profitability

A historic power plant in Mechanicville, New York has decided to switch to mining Bitcoin as a more profitable pursuit in addition to generating electricity.  According to a report by The Albany Times Union, a hydroelectric plant built in 1897 and operated by Albany Engineering Corp., is using a portion of the power it produces […]

Bitcoin Update: Hash Rate, Mining Difficulty, Accumulation Addresses, $BTC vs Gold

This article looks at what analysts and influencers are currently (as of June 28) saying about Bitcoin’s hash rate, mining difficulty, BTC accumulation addresses, and the Bitcoin vs gold debate. On June 26, crypto analyst Lex Moskovski, CIO at Moskovski Capital, used Glassnode data to show that the number of unique accumulation address (or effectively […]

Bitcoin Mining Crackdown in China: Fake News or Something To Be Concerned About?

This article takes a closer look at recent reports coming out of China about potential upcoming regulations that could result in a a partial or total ban on Bitcoin mining in that country. Tuesday’s Announcement by Three Chinese Self-Regulatory Organizations Last Tuesday (May 18), Shanghai Securities News (SSN), “China’s leading financial newspaper and the China […]

If You Want a Cheap Bitcoin Mining Rig, You Could Use a Commodore 64

A Polish computer programmer Maciej Witkowiak has reportedly created open source software for mining Bitcoin on a Commodore 64, a computer that was first released in 1982.  In a post published to GitHub, Witkowiak shared the code he created for users interested in mining BTC via the Commodore 64. According to Witkowiak, his Bitcoin mining […]

Shark Tank’s Kevin O’Leary Won’t Buy Bitcoin Mined in China

Celebrity investor Kevin O’Leary (aka “Mr. Wonderful”) says he will only buy Bitcoin mined sustainably in countries that use clean energy.  Speaking in an interview with CNBC, O’Leary said he would not buy “blood coin” mined in China, and would focus his investments on BTC mined sustainably using clean energy:  “I see over the next […]

Hardware Hacker Modifies Old School Game Boy To Mine Bitcoin

An enterprising hardware hacker has modified an original Nintendo Game Boy in order to mine bitcoin. In a YouTube video published by Stacksmashing, the modder was able to hack an original Game Boy in order to mine Bitcoin.  The modder’s primary challenge was getting the Game Boy, released two full decades before the creation of […]

Tesla Helps Bitcoin Surge Above $57K, Analysts Say $BTC Miners Have Paused Selling

On Wednesday (March 24), within roughly five hours of Elon Musk announcing on Twitter that Tesla is now accepting (in the U.S.) Bitcoin as a means of payment, the Bitcoin price had surged from $54,785 (at 7:01 UTC) $57,044 (at 12.11 UTC), which is currently its intraday high. Currently (i.e. as of 12:58 UTC on […]

Gold Firm CEO Says Bullion May Act As a Hedge Against Cryptocurrency

Newcrest Mining Ltd. CEO Sandeep Biswas told Bloomberg the rising tides of crypto-assets would drive more investor interest to gold due to its price stability.

Ethereum User Accidentally Pays $9,500 Transaction Fee to Send $120

An ethereum user accidentally paid $9,500 in transaction fees to send just $120.  According to a Reddit post published last week, an ethereum user mistakenly typed the wrong transaction fee when attempting to transfer $120, resulting in a payment that cost seventy-nine times as much. Reddit user ProudBitcoiner shared their story of accidentally paying 23.5127 […]

Italian Airport Employee Accused of Using Airport’s Computers to Mine Ethereum

An Italian airport worker has been caught allegedly using the facility’s computer systems to mine Ethereum.  According to a report by Italian media outlet Rai News, a 41-year old technician in the city of Lamezia Terme was caught allegedly putting mining malware on the airport’s computer systems. The report claims the staffer put the security […]

Mining Profitability Drops as Bitcoin’s Hash Rate Hits New All-Time High

Bitcoin miners have struggled to remain profitable following May’s block reward halving as BTC’s hash rate hit another all-time high earlier in the week.

New Mining Entity Controlling One-Fourth of BCH’s Hashrate Draws Attention Over Empty Blocks

A new mining entity reportedly partly responsible for mining empty blocks on the Bitcoin Cash (BCH) blockchain has drawn the community’s attention, as it quickly captured one-fourth of the network’s hashrate. Members of the cryptocurrency’s community recently noticed that a mining operation called HathorMM managed to get up to one-third of the network’s hashrate at […]

Venezuela’s President Introduces Cryptocurrency Bill to Avoid Economic Sanctions

Venezuela president Nicolas Maduro has introduced a new bill that will explore crypto-assets as an avenue for avoiding economic sanctions.

Iran to Use Electricity From Three Power Plants to Mine Bitcoin

Iran is set to use the energy of three power plants exclusively to mine bitcoin, according to an announcement from the country’s Thermal Power Plant Holding Company (TPPH).” According to local news outlet Tehran Times, power plants in Iran receive benefits and subsidies from the government on their fuel supplies, but were barred from using […]

Venezuela Legalizes Crypto Mining, Forces Miners to Use National Mining Pool

The Venezuelan government has published a new decree in the Official Gazette legalizing cryptocurrency mining, but with a catch: crypto miners have to use a national mining pool. According to local news website CriptoNoticias, the new decree was authorized by Joselit Ramirez, head of Venezuela’s National Superintendency of Crypto Assets and Related Activities (SUNACRIP). It […]

Multinational Energy Company Equinor Entering Partnership to Mine Bitcoin

Multinational energy company Equinor intends to use byproduct flaring from oil extraction to generate electricity for bitcoin mining.

Former Contractor Avoids Jail Time After Mining Crypto on Government Supercomputers

A former government contractor in Sydney avoided jail time after hijacking processing power from state-owned supercomputers for the purpose of mining cryptocurrency.

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