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Posts Tagged ‘mining’

Inside Nvidia’s Difficult Relationship With Mining

On Feb. 14, California-headquartered gaming and computer hardware manufacturer Nvidia reported full-year revenue gains in 2018, despite being one of the companies worst hit by the cryptocurrency market dip and subsequent lack of demand for mining components. The firm’s main products include graphics processing units (GPU), among others, which became widely purchased by miners during…

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Ethereum Mining Pool Receives Mysterious $300K Blockchain Payout

Ethereum mining pool Sparkpool received a payout of over 2,000 ETH (worth $300,000) just for mining one block on the ethereum blockchain Tuesday – a figure that’s about 600 times the network’s standard block reward. Miners who secure blocks are programmed to be awarded 3 ETH (about $500) for every new transaction block added to…

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Alleged Bitcoin Mining Scam Reported in Thailand

Victims of an alleged cryptocurrency mining scam have filed claims against the suspected perpetrator with the Technology Crime Suppression Division in Thailand, the Bangkok Post reports on Feb. 18. Per the report, 30 people have filed a complaint with police, stating that they were fooled into an alleged investment scam called “CryptoMining.Farm.” This purportedly led…

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Bitmain Announces New, More Efficient 7nm Bitcoin Mining Chip

Bitmain Technologies has announced a new 7-nanometer bitcoin mining processor that it says offers new levels of energy efficiency. The new ASIC (application-specific integrated circuit), called the BM1397, is said to provide improvements in performance, chip size and energy efficiency for mining proof-of-work cryptocurrencies based on the SHA256 algorithm, such as bitcoin (BTC) and bitcoin…

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Nvidia Mining Chip Sales Drop 30% in Q4 Amid ‘Post-Crypto Excess’

Nvidia managed to survive declining cryptocurrency mining chip demand to post total full-year revenue of $11.72 billion. The company forecasts an aggressive rebound for the 2020 fiscal year, but Wall Street analysts say such forecasts are overly optimistic given the lack of significant change in the market. Sale of Cryptocurrency Mining Chips Plummet The U.S.…

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Bitcoin Now Mining Its Biggest Blocks Ever

The Bitcoin network is scaling as the network just reached a new all-time high of 1.3 MB average block size amid record low transaction fees.  Biggest Average Bitcoin Block Size to Date The latest data from Blockchain.com shows that February 12, 2019 saw an average block size of 1.305 megabytes, the biggest on record. In…

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These Cryptofunds Say ‘Generalized Mining’ Is the New Way to Invest

Crypto investors are pushing each other to actively participate in the networks they fund. A segment of the blockchain world has been buzzing since at least last fall about “generalized mining,” an idea that the decentralized web invites users to contribute resources to running different services – all while earning rewards for doing so. Extended…

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Suspects Arrested for Stealing Electricity in Crypto Mining Operation

In the German city of Klingenthal, Saxony, police have arrested a group of suspects for stealing electricity to operate a cryptocurrency mining farm, Cointelegraph auf Deutsch reports Feb. 6. Police officers reportedly tracked down a system of 49 computers operating in the premises of former electrical services company PGH Elektro. Since at least 2017, the…

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Bitfury Partners to Launch Bitcoin Mining Centers in Paraguay

Bitfury Group and South Korean R&D firm Commons Foundation are jointly launching a network of bitcoin mining operations in Paraguay. Announcing the partnership on Thursday, Bitfury said a series of mining centers will be set up in the South American country using its BlockBox AC bitcoin mining devices. Further,  the mines will be powered by…

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Ethereum Developers Delay Mining Algorithm Change for Code Audit

Developers contributing to the ethereum protocol are electing to hold off on a decision to submit code that would stifle the advantage of high-powered ASIC miners competing for the network’s rewards. During a public call Friday, which included Hudson Jameson, Lane Rettig, Afri Schodedon, Martin Holst Swende, Danno Ferrin and Greg Colvin, among other notable…

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