Category: mining rigs

Chinese Government Crackdowns and Cheap Hydropower- Miners Migrate from North to South China

Chinese Government Crackdowns and Cheap Hydropower- Miners Migrate from North to South ChinaChina-based bitcoin miners have started to migrate southbound from North China, according to local reports. The operators are having difficulties and are transitioning mining facilities for cheap hydro-powered electricity. Testimonials also show that 64 mining operations in the prefecture in Yunnan have been threatened by local authorities. Sources say a hydropower station discharge sparked a […]

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45 Older-Generation Bitcoin Miners Are Unprofitable After the Reward Halving

On May 11, the Bitcoin network experienced its third block reward halving, which had chopped the 12.5 BTC reward to 6.25 coins following the event. It’s been close to a week later, and data stemming from mining rig profitability websites show that more than 45 older generation devices are not profitable right now at today’s […]

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Bitcoin Miners Reveal Concerns Over Mining Rig Shipment Delays and Bitcoin Halving

Bitcoin Miners Reveal Concerns Over Mining Rig Shipment Delays and Bitcoin HalvingThe cryptocurrency market rout in mid-March, which saw bitcoin’s price slide significantly in value, has strained bitcoin mining operations by slashing considerable revenue from the block rewards. Moreover, shipping delays from mining manufacturers have caused uncertainty and mining operations don’t know when next-generation miners will ship. The mining firm Hut8 has revealed in an earnings […]

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Bitcoin Hashrate Down 45% – Miners Witness Second-Largest Difficulty Drop in History

Bitcoin’s hashrate has plummeted 45% since the record-breaking levels it saw on Feb. 29. The hashrate touched an all-time high of 136 exahash per second (EH/s) but has since dropped to 75 EH/s. Moreover, the crypto network has seen the second-largest difficulty drop since October 2011. Also read: While You’re Under Quarantine, Check These Sites […]

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BTC Hashrate Follows Price Drop – 20% Lower Before Bitcoin Halving

BTC Hashrate Follows Price Drop - 20% Lower Before Bitcoin HalvingFour days ago, digital currency markets lost billions and prices sank to levels not seen since last March. The market bloodbath has affected bitcoin miners as they are making fewer profits than they were a week prior. By Monday, March 16, BTC’s hashrate slid below the 100 exahash (EH/s) territory and the BCH hashrate fell […]

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$65M Investment Fuels Natural Gas Provider’s ‘Behind-the-Meter’ Bitcoin Mining Operation

$65M Investment Fuels Natural Gas Provider’s ‘Behind-the-Meter’ Bitcoin Mining OperationOn Thursday, a natural gas-based power plant in Dresden, New York, Greenidge Generation LLC, revealed the energy provider has the capacity to mine around $50,000 worth of bitcoins (5.5 BTC) every day. The 65,000 square-foot natural gas utility plant was upgraded when the firm installed 7,000 bitcoin miners that leverage some of the cheapest natural […]

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Bitcoin Mining Investment Strong – BTC Hashrate Surpasses All-Time High

Bitcoin Mining Investment Strong - BTC Hashrate Surpasses All-Time HighOn Monday, March 2, miners processing blocks on the BTC network surpassed the network’s all-time high as the overall hashrate touched 136 exahash (EH/s). The record-breaking achievement happened despite the price of BTC dropping below the $9K region throughout the course of the last week. In four years’ time, BTC’s hashrate has risen over 13,500% […]

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Bitmain Unveils 2 Bitcoin Miners With Max Speeds Up to 110TH/s Per Unit

Bitmain Unveils 2 Bitcoin Miners With Max Speeds Up to 110TH/s Per UnitOn Thursday, the China-based mining rig manufacturer Bitmain announced the launch of two new Antminer S19 series models that process between 95 to 110 trillion hashes per second (TH/s). The Antminer S19 Pro model with 110TH/s and 29 joules per terahash (J/TH) is 24 trillion hashes per second faster than Microbt’s latest Whatsminer M30S model […]

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Coronavirus Quarantine Controls and Shipping Delays Impact Bitcoin Miners

Coronavirus Quarantine Controls and Shipping Delays Impact Bitcoin MinersDuring the first week of February, a few of the top mining rig manufacturers from China revealed they were forced to postpone device shipments due to the ongoing coronavirus outbreak. Regional reports from the country now disclose that shipments will be delayed even longer and Chinese mining rig companies and second-market suppliers are feeling significant […]

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Tokyo-Based Zigmabit Offers Mining Rigs for Homes and Offices

Tokyo-Based Zigmabit Offers Mining Rigs for Homes and OfficesCryptocurrency mining develops rapidly like any high tech sector. Improvements in the hardware and auxiliary systems make it possible to design mining rigs that are more compact and silent than they used to be, while also profitable to run. Zigmabit is a manufacturer that assembles units suitable for mining not only in industrial-scale datacenters but […]

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Mining Giant Canaan Faces Stiff Competition After IPO Shares Slump

Mining Giant Canaan Faces Stiff Competition After IPO Shares SlumpOn November 21, the Chinese mining rig manufacturer Canaan Inc. launched its initial public offering (IPO) sale of $90 million worth of U.S. shares. Canaan shares initially sold for $8.99, but plummeted over 48% on December 16 to $4.65 per share. Since then, Canaan has launched a series of five new mining rig batches that […]

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Japanese Firms SBI and GMO Join the Digital Gold Rush in Texas

The city of Rockdale, Texas is attracting attention again, similar to the interest the region saw back in the fifties when the Alcoa aluminum smelting facility set up shop. These days, Rockdale’s change is due to the influx of bitcoin miners coming to town from all around the world. A Frankfurt-based operation called Whinstone Inc., […]

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BTC’s Hashrate Touches 120 Exahash, But the Price Has Not Followed

BTC's Hashrate Touches 120 Exahash, But the Price Has Not FollowedOn January 1, the BTC network hashrate touched an all-time high at close to 120 exahash per second (EH/s). Despite the crypto market lull and lower BTC prices, the 2020 milestone happened just before the blockchain’s 11th anniversary. BTC’s curious jump in hashrate has the cryptosphere wondering whether or not the price truly follows hashpower. […]

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Chicago Company Mines at Oil Wells, Educates Producers About Bitcoin

Chicago Company Mines at Oil Wells, Educates Producers About BitcoinUtilizing stranded gas to power bitcoin mining rigs at oil and gas wells is a promising business opportunity. It is profitable for all participating parties and beneficial for the environment. Not without challenges, this young industry is growing in energy-rich North America. Several companies are working to expand the niche and U.S.-based EZ Blockchain shared […]

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Mining Chip Maker Ebang Next in Line to File for US IPO

ASIC Chip Maker Ebang Next in Line to File for US IPOEbang, the ASIC chip and mining rig manufacturer based in Hangzhou, China is allegedly filing for an initial public offering (IPO) in the U.S. following Canaan’s recent Nasdaq listing and Bitmain’s secret IPO filing. The world’s third-largest bitcoin mining hardware manufacturer plans to follow Canaan’s footsteps with an attempt to be listed on the American […]

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Mining Giant Bitmain Confidentially Files for U.S.-Based IPO

Mining Giant Bitmain Confidentially Files for U.S.-Based IPOAccording to reports, bitcoin mining manufacturer Bitmain Technologies confidentially filed for a U.S.-based initial public offering (IPO) with the Securities and Exchange Commission. The news follows the alleged removal of cofounder and executive director Micree Zhan and the recent announcement of a facility in Texas with the capacity to house 300MW of hashpower. Also read: […]

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Bitmain’s Jihan Wu Talks Mining and Industry Growth With Bitcoin.com’s CEO

Bitmain's Jihan Wu Talks Mining and Industry Growth With Bitcoin.com's CEOAt the World Digital Mining Summit in Frankfurt, Germany, Bitcoin.com’s CEO Stefan Rust sat down with Jihan Wu, cofounder of Bitmain Technologies and Matrixport. The two discussed how cryptocurrencies being used for payments is spreading and how Bitmain is doing after the bear market last year. Also read: SEC Wants Second Look at Bitwise Bitcoin […]

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4 New High-Powered Bitcoin Miners Revealed

4 New High-Powered Bitcoin Miners RevealedBitmain Technologies and Canaan Creative have announced new mining rigs that process roughly 58-73 terahash per second (TH/s). Sources also reveal that Canaan’s initial public offering (IPO) could be listed in the U.S. next month. Also Read: Mining Firm Canaan Creative Secures Hundreds of Millions of Dollars in Funding Bitmain and Canaan Introduce Bitcoin Miners […]

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Chinese Bitcoin Miners Migrate North After Wet Season

Chinese Bitcoin Miners Migrate North After Wet SeasonA China-based crypto news outlet recently published a comprehensive report on the costs associated with building a digital currency mining farm in China. Additionally, the local publication revealed that Chinese miners are starting to migrate north to access cheap thermal power and wind power after the wet season in Sichuan. Also read: RBI Ban Stops […]

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Video Shows $10M Chinese Bitcoin Mining Farm in Flames

Circulating Video Shows $10M Chinese Bitcoin Mining Farm in FlamesDuring the early morning hours of September 30, a nine-minute video circulated on Twitter showing a large bitcoin mining farm burning down. Sources say the mining farm belonged to the company Innosilicon and roughly $10 million worth of mining rigs were destroyed. Also Read: Central Banks in Panic Mode – Extreme Tactics Like Helicopter Money […]

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Despite Lower Prices, Bitcoin’s Hashrate Remains Strong

Despite Lower Prices, Bitcoin's Hashrate Remains StrongPeople watching cryptocurrency markets have been patiently waiting for prices to rise and the overall sentiment to change. However, one thing that’s been extremely bullish these days is how BTC’s hashrate has doubled in the last three months. Even with today’s sluggish crypto prices, the SHA-256 hashrate has remained unscathed and continues to show persistent […]

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Bitcoin Mining Helps Oil Companies Reduce Carbon Footprint

Burning Wasted Gas to Mine Bitcoin Promises to Become a Booming BusinessNatural gas acquired as a byproduct of oil extraction has become synonymous with wasted energy. In certain areas, drilling companies are unable to find a profitable market for the excess fuel. It’s often vented into the atmosphere. Startups are now offering on-site systems that utilize the surplus to mine cryptocurrencies. This new business is growing […]

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Miners Flock to Iran Where Bitcoin Mining Is Set to Be Sanctioned

Iran’s Central Bank Will Allow Bitcoin Mining Operations as Miners Flock to the Oil-Rich NationAccording to regional reports, the Central Bank of Iran (CBI) is planning to allow licensed cryptocurrency mining as long as operations are charged for electricity based on the price of export. The CBI governor, Abdol Nasser Hemmati, explained that mined cryptocurrencies should flow back into the Iranian economy. Also read: Bitcoin Miner Recounts Struggle to […]

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