Tag Archives: cryptocurrency mining

Cheap Electricity Makes Mongolia the New Cryptocurrrency Mining Hub for Japanese Miners

The latest report from Japanese media reported ‘ Mongolia’s cheap electricity’ has captured the growing cryptocurrency mining interest from the Japanese bitcoin miners. Mongolia, a location between China to the south and Russia to the north is featured with ‘the blend of cheap electricity and cold weather’. Cheap electricity attracts Japanese cryptocurrency miners to Mongolia Cheap electricity and… Read More »

E-Commerce Giant DMM Quits Cryptocurrency Mining Business

Japanese e-commerce giant DMM.com is reportedly in the process of withdrawing its cryptocurrency mining business in the country, just months after it set up the operation in early 2018. A news report from Nikkei on Dec. 30 said DMM made the decision on the withdrawal in September 2018 as the overall cryptocurrency market slump led to deteriorating profitability for… Read More »

You Got The Power: Heat Energy From 46,000 People Mines One Bitcoin

In the search for ever more environmentally and ethically friendly ways to mine Bitcoin, everyone has largely ignored perhaps the most obvious solution… until now. You Literally Got The Power It seems like every week there is a more outlandish piece of hyperbole, regarding the energy used to mine bitcoin. ‘Each transaction could power 10 households for a week’!… Read More »

Nvidia’s (NVDA) Stock Value Plunges by 55% in 3 Months Due to the Crypto Bear Market

The cryptocurrency bear market has had a domino effect on not only traders and miners, but the companies that manufacture the necessary hardware to validate transactions on the blockchain. One such company is Nvidia which is also listed in the US Stock markets. 55% Drop in Value in 3 Months Three months ago, on the 1st of October,… Read More »

Drop in Bitcoin (BTC) Mining Increasing Network Risk

Bitcoin (BTC), Cryptocurrency, Mining–As previously reported by EWN, the drop in Bitcoin hash rate which has accompanied the most recent price fall throughout the month of November has raised a debate over the cause of decreased mining, and the potential ramifications. Some Twitter users pointed to an outright abandonment of cryptocurrency mining, with drop in valuation from $6500… Read More »

Bitcoin Mining: Everything You Need to Know

Bitcoin mining is a term that everyone in the cryptocurrency and even many outsiders are familiar with. This is a process performed by high-powered computers (also known as nodes), which solve complicated computational math problems. While distinct, there are certain similarities between bitcoin mining and actual mining for precious metals such as gold, for example. Both processes are… Read More »

Intel Files Patent for More Efficient Bitcoin (BTC) Mining

Bitcoin Mining, Cryptocurrency–Even with the falling price of Bitcoin and the recent questions being raised about the profitability of crypto mining, American tech company Intel has made headlines with a new patent filing that seeks to improve upon the efficiency of mining. According to the U.S. Patent and Trademark Office (USPTO) filing that was published on Nov. 27,… Read More »

$5 Million Lawsuit Claims Bitmain Mined at Expense of U.S. Customers

Gor Gevorkyan, a Los Angeles resident, has filed a lawsuit against Bitmain for allegedly mining cryptocurrency at his expense. The class action claims that bitcoin mining giant had redesigned its ASIC devices “to mine crypto currency for the benefit of itself rather than its customers who purchase the products”.Bitmain Allegedly Used Customers Resources to Mine Crypto, Says LawsuitDefendant… Read More »

Bitcoin Miners Selling Shakes Off Gold Rush Mentality

Bitcoin (BTC), Cryptocurrency–As prices for Bitcoin continue to slip to their lowest point in over a year, with all eyes on BTC hitting $3,000, a recent inquiry into the dipping hash rate has led some to question the health of the crypto mining industry. On Nov. 25, a tweet went viral showing hundreds of crypto mining rigs essentially… Read More »

Sweden Braces For Migrant Caravan Of Norwegian Bitcoin Miners

Data center managers in Sweden are expecting a deluge of inquiries from cryptocurrency mining operations in Norway. The Norwegian authorities this week revoked energy tax subsidies for the sector, throwing the future of many companies into doubt. ‘The Dirtiest Form of Cryptographic Output’ Up until this week, mining firms in Norway qualified for the same electricity tax discount… Read More »