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It’s Never Been Harder to Mine Bitcoin as Hash Rate Hits New Highs

News The mean hash rate of the Bitcoin (BTC) network has hit new all-time highs to mark the cryptocurrency’s latest technical achievement, fresh data suggests. Compiled by monitoring resource Glassnode, a new analysis of Bitcoin’s historical hash rate shows that on Jan. 7, the mean value reached 1..

Massive Japanese Corporations Delve Into Bitcoin Mining in Texas

While Bitcoin is still down by over 50% from its all-time high and down some 40% since the $14,000 top put in in the middle of 2019, institutions continue to trickle into the cryptocurrency industry. Reports have revealed that two massive Japanese corporations that have shown interest in blockchain..

Bitmain Co-founders at Loggerheads Over Mass Layoff Plans

Ousted Bitmain co-founder, Micree Zhan, has come out to oppose Bitmain’s plan to layoff about 50% of its workforce. According to Zhan, the Bitcoin (BTC) mining giant’s plan to sack employees was a mistake, given that the company was in a healthy financial situation. Earlier in January 2020, reports..

Canaan’s New 5-Nanometer Chips to Escalate ASIC Arms Race With Bitmain

News Chinese mining application-specific integrated circuit (ASIC) manufacturer Canaan will launch new, improved mining machines with 5-nanometer chips in Q1 2020. Chinese industry news outlet 8BTC reported on Dec. 24 that the new ASICs will have significant advantages compared to the previous gen..

Former Bitmain Chip Maker in Police Custody for Alleged Embezzlement

Former Bitmain Technologies chip maker and founder of Bitmain rival MicroBT, Yang Zuoxing, has been reportedly arrested by the Shenzhen police. Yang’s arrest comes amid the ongoing battle between MicroBot and Bitmain, along with the latter’s leadership crisis. On the other hand, another major bitco..

Despite Crypto Crackdown: Bitcoin Mining Remains Centralized in China

Over the past few weeks, China has renewed its efforts to force cryptocurrency firms out of its borders. As Blockonomi reported earlier this month, Beijing’s new offensive on cryptocurrency forced five locally-operated exchanges to suspend or cease their activities in the country. The exchanges tha..

What is Bitcoin Halving? Complete Guide to this Mining Change

Every four years or so, bitcoin undergoes an important event known as the “bitcoin halving”. This first happened in 2012, and again in 2016. Likewise, it will happen again next year around May 2020. What is the bitcoin halving? What impacts does it have on the economics of bitcoin? In this article,..

Canada-Based Crypto Mining Firm Great North Data Files for Bankruptcy

News Canada-based cryptocurrency mining company Great North Data has submitted a bankruptcy filing, purportedly due to insolvency. As the Canadian Broadcasting Corporation reported on Dec. 4, Great North Data — which operated crypto mining facilities in Labrador City and Happy Valley-Goose Bay — f..

Russian Oligarch Turns Soviet Plant Into a Major Bitcoin Mining Hub

News The largest data center in the former Soviet Union, BitRiver, opened about a year ago in the Siberian city of Bratsk and most of its clients use the facility to mine Bitcoin (BTC), Bloomberg reported on Nov. 24. The data center allows cryptocurrency miners to take advantage of cheap energy in..

‘No Capitulation’ — Bitcoin Miners Completely Unfazed by Price Drop

News Bitcoin (BTC) is not seeing capitulation among miners despite its price dipping over 15% in the past week, new data suggests. According to estimates of Bitcoin’s hash rate from monitoring resource Coin Dance, participation remains as strong now as before the price drop. Hash rate refers to th..

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