Category: Bitcoin Mining
-
3 Cents per kWh – Central Asia’s Cheap Electricity Entices Chinese Bitcoin Miners
As tensions escalated between the U.S. and Iran in recent months, reports have detailed that Chinese bitcoin miners are looking to set up shop in Central Asia and more specifically in Kazakhstan and Uzbekistan. Last spring, Chinese bitcoin mining operations flocked to Iran for extremely affordable electric prices ($0.006 per kilowatt-hour) in the oil-rich nation,…
-
Developer Proposes Decentralized Bitcoin Hashrate Derivatives
There’s a new concept called Powswap that lets people speculate on hashrate in order to hedge against price volatility. Powswap was developed by the software engineer Jeremy Rubin who believes hashrate derivatives products allow people to leverage new trading strategies. Also read: Regulatory Roundup: EU-Wide Crypto Regulations, New Rules in Europe, US, Asia Powswap Where…
-
Tokyo-Based Zigmabit Offers Mining Rigs for Homes and Offices
Cryptocurrency 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…
-
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.,…
-
BTC’s Hashrate Touches 120 Exahash, But the Price Has Not Followed
On 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.…
-
Authorities in Sichuan Go After Miners to Save Electricity in the Dry Season
Regional authorities in the province of Sichuan are reportedly pressuring bitcoin miners to scale down operations amid electricity shortages during the dry season in Southwest China. A meeting has been scheduled with regulators, the state run grid operator and mining companies. Two hydropower stations have been fined already for powering bitcoin farms without authorization. Also…
-
2019’s Bitcoin Miners Are 5x Faster Than Predecessors
High-powered bitcoin miners and next-generation semiconductors go hand in hand and as process node technology grows, SHA256 hashrate follows. Coinshares’ recent bi-annual mining report highlights that newly introduced mining rigs have “as much as 5x the hashrate per unit as their generational predecessors.” Advanced chip technology has grown relentlessly and it’s significantly bolstered ASIC device…
-
Chicago Company Mines at Oil Wells, Educates Producers About Bitcoin
Utilizing 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…
-
Mining Chip Maker Ebang Next in Line to File for US IPO
Ebang, 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…
-
Avalon Mining Rig Maker Canaan Files for $400M IPO on Nasdaq
Mining rig manufacturer Canaan has filed for an IPO with the U.S. Securities and Exchange Commission to raise $400 million on the Nasdaq Global Market. Prior to this filing, the company had also attempted to go public in Hong Kong and China. Credit Suisse and Citigroup are among its underwriters. Also read: 4 New High-Powered…