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Posts Tagged ‘mining’

As Bitcoin Cash Hard Forks, Unknown Mining Pool Continues Old Chain

A rogue chain has developed during a planned bitcoin cash hard fork, as an unknown mining pool failed to update to the new chain’s software. The on-going chain battle, which should be resolved by bitcoin cash’s internal rules, gives an insider look into how proof-of-work (PoW) consensus mechanisms operate. The hard fork occurred on Friday…

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Ukrainian Railways Branch Caught Mining Crypto With State Power

In the latest instance of state employees mining cryptos at work, a unit of Ukrainian Railways (Ukrzaliznytsia) has been caught red-handed diverting company electricity to earn bitcoin. State-owned Ukrzaliznytsia said in an announcement on Friday that its security department and law enforcement officials had discovered that branch employees in the western city of Lviv had secretly been…

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Chinese Regulators Set to Push Inspections of Crypto Mining firms

Regulators in the Chinese autonomous province of Inner Mongolia continue to crack down on the province’s crypto mining companies. The Global Times reported on Nov. 13 that northern China’s Inner Mongolia Autonomous Region is tightening its grip on crypto mining companies, as it intends to dispatch inspection units to assure the “clean-up and rectification of…

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Canaan Mining May Settle for Modest $100M IPO

Canaan Mining’s IPO in New York may raise only $100 million, at least based on recent edits to the prospectus. The company will aim to list on NASDAQ and become the first Chinese mining equipment producer to trade as a public stock. Canaan May Reflect Worsened Sentiment About Crypto Investments Just days after Canaan scheduled…

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Is Chinese Bitcoin Mining Firm Canaan’s $400M IPO a Desperate Move?

Chinese bitcoin mining hardware maker, Canaan, plans to raise $400 million through public sale of its stocks. But will the IPO ride be smooth or bumpy?  Volatility is usual for bitcoin and crypto market participants. However, traditional stock market traders and investors are used to a bit more stability when it comes to their investments.…

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Bitcoin Mining is Not Banned in China: Report

All bitcoin and crypto market bullishness is emanating from China at the moment. One industry insider has just revealed that, contrary to earlier reports, China will not be banning bitcoin mining. No Bitcoin Mining Ban in China Within the past hour or so Chinese industry insider and Primitive Crypto founding partner, Dovey Wan, posted an…

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Bitcoin Mining Power Sees Short-Term Drop as Rainy Season Ends in China

After sustained growth over the past three months, computing power on the bitcoin network has seen a fallback as the summer rainy season trails off in China. According to data from Poolin, the world’s largest bitcoin mining pool by real time hash rate, bitcoin’s seven-day average computing (or hashing) power has dropped to around 90…

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Bitmain Loses Bitcoin Mining Pool Dominance Amid Internal Issues

Antpool and BTC.com have lost a bit of their old glory, significantly shrinking the share of Bitcoin block rewards on a daily and weekly basis. The BTC mining pools, headed by Bitmain, are still among the top four miners but have ceded their leadership to F2Pool and Poolin. Bitmain Lost Bitcoin Mining Leadership in Three…

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Russian Aluminum Plant Pivots to Bitcoin Mining Following US Sanctions

A Russian aluminum plant is pivoting to bitcoin mining after U.S. sanctions forced the plant to shut down in 2018. Russian aluminum giant Rusal is leasing its Nadvoitsy Aluminum Plant, located in the northwest region of Karelia, to a crypto startup called the Russian Mining Corporation (RMC), according to Russian news site RBC. The U.S. Office…

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