Category: Bitcoin Mining
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Vancouver Bitcoin Mining Firm Installs 85 MW Substation to Power Massive Expansion Plans
Vancouver-based DMG Blockchain Solutions Inc. recently announced that it had begun the installation of its 85-megawatt (MW) capacity substation, which will power the expansion of its crypto mining facility. The new 85-megawatt capacity transformer and electric substation will be connected to the utility power grid when completed, and it will help expand its product offerings.…
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Rogue Qiwi Employee Mined 500,000 Bitcoins on Company Hardware [Then Lost Them All]
Qiwi, a large Russian payments company, has played a pioneering role in blockchain development in that country, largely driven by its CEO and major shareholder, Sergey Solonin. The reason for Solonin’s interest in cryptocurrency recently came to light during a lecture he gave at the Moscow School of Communications, according to Rubase. In 2011, Solonin…
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There’s Only Four Million Bitcoin Left to Be Mined – Here’s Why
In today’s climate of ICOs with 100 billion token supplies, it can be easy to forget that the total supply of Bitcoin is incredibly low – 21 million. The 17 millionth Bitcoin has been mined, and there are only 4 million left. The built-in artificial scarcity is one of the most important characteristics of the…
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Chinese Household in Trouble for Chasing a Lost Cause – Mining Bitcoin with Phones
A Chinese household has been stealing electricity to mine bitcoin using 50 mobile phones and 15 improvised mining rigs. The home workshop has consumed almost 33,000 kWh of unbilled electricity. That should be enough for a couple of bitcoins, but using a smartphone for the job is not really an option. Also read: 80%…
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Riot Blockchain Trades All Mined Bitcoin Cash into Bitcoin
Biotech-company-turned-cryptocurrency-investment-firm Riot Blockchain is not long on Bitcoin Cash. That’s one of several revelations from a recent public filing that provides an overview of the Colorado-based company’s 2017 financial results. The Nasdaq-listed firm, which reports that it had 3,500 Bitmain S9 miners deployed at a data center in Oklahoma City at the end of March…
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10% of Q1 Revenue: Cryptocurrency Mining Boosts AMD Profits Despite Volatility
Advanced Micro Devices’ first-quarter earnings results were buoyed by cryptocurrency mining revenue, but the chipmaker warned the volatility is getting in the way. AMD in Q1 generated a higher percentage of its revenue from sales of its graphics chips that are used to power computers in the cryptocurrency mining process for digital currencies like bitcoin and ethereum. The company,…
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Samsung Reveals Record-Breaking Quarter Amid Crypto Mining Demand
Earlier this year, Samsung expanded into mass producing ASIC chips for bitcoin mining, and the move is already paying off. Samsung had a blockbuster first quarter, as evidenced by the fourth straight quarter of record performance for operating income, the catalyst for which was demand for chips used in bitcoin mining. Samsung’s semiconductor business shined amid…
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17 Mln Of Total 21 Mln Bitcoins Now Mined In Milestone For Digital Scarcity
17 mln Bitcoin have now been mined, 4 mln BTC left to supply cap #NEWS
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Cisco Claims New Patent Could Apply to Bitcoin Mining
A Cisco patent suggests that internet customers would be able to create a distributed mining pool through a proprietary cloud application.
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Chinese Police Seize 600 Computers Used To Mine BTC In Tianjin
Chinese police have seized 600 computers used to mine Bitcoin in Tianjin, after the local grid operator reported irregular electricity usage. #NEWS