Mining

A recent report indicated that as proof-of-work-based cryptocurrencies such as Bitcoin and Monero were increasing in value in 2020, the cryptojacking cases worldwide have surged after a year of continuous decline.Cryptojacking On The Rise In 2020The term cryptojacking refers to when an unauthorized person gains access to a computer for mining (or minting) digital assets. These attacks can sometimes be so precise and critical that the victim fails to comprehend what is draining his device’s...

Russia’s On Digital Financial Asset (DFA) legislation has received yet another set of proposed amendments that can push the country into launching a full-scale ban on cryptocurrency usage, with three exceptions – inheritance, bankruptcy, and enforcement proceedings.Russia’s DFA Sees New PropositionsThe world’s largest country by landmass has been rather indecisive, to say the least, in its approach towards cryptocurrency regulations. The nation successfully passed the DFA bill in July after...

The coronavirus pandemic has proven rather devastating to the bitcoin mining community. Many have had to shut themselves down given that they are not considered essential businesses. However, some of these companies – like Layer1 – are finding new ways to make a profit while the virus continues to meander across the globe, and these ways are proving to be quite innovative.Layer1 Is Staying Innovative – and ProfitableSeveral cryptocurrency mining firms – such as Digital Farms in California –...

Being a DeFi community governance token, the SUN token is a ‘meme’ coin designed with encryption and artistic expression in focus.The Tron Foundation has announced the launch of its DeFi governance token dubbed SUN named after the foundation’s CEO Justin Sun. Per the foundation’s open letter to the community about the SUN Genesis Mining, the blockchain-based firm hopes that SUN will become a nexus for sincere community-builders to collaborate on the TRON ecosystem.The SUN token is “Designed...

Kazakhstan’s new Digital Development Minister, Bagdat Mussin, has reportedly asserted that the country is already in talks to attract a significant investment worth over $700 million to expand the cryptocurrency mining sector in the Central Asian nation.Kazakhstan Aims For $700M Investment For Crypto MiningThe plans for attracting 300 billion tenges ($715 million) of investments in the cryptocurrency mining field were initially revealed in a Senate hearing in mid-June.The former Minister of...

Launched just last week as a fork of Uniswap, SushiSwap has gained traction as the hottest thing in DeFi at the moment. It aimed to build on the popular token swapping protocol but offer a native token as a reward to liquidity providers.Uniswap only offers a 0.3% share of its trading fees to those that deposit collateral on the platform. Clearly, this isn’t enough for avaricious yield farmers who, over the past few days, have been moving their liquidity over to SushiSwap.Sushi TVL Tops a...

Barry Silbert – crypto entrepreneur and the leader of the Digital Currency Group (DCG) – has announced that he is looking to remove some of the heavy bitcoin business that’s been going on in China and move it back to the United States. How will he do this? Through a company he’s created called Foundry, via which he will invest roughly $100 million into mining operations situated throughout North America.Barry Silbert: Now Is the Time for the U.S. to ShineThe fact that China has become so...

Recent data indicated that the HODLing mentality towards Bitcoin prevails as the number of coins that haven’t moved in two or more years has reached a three-year high.At the same time, miners are following suit as their BTC holdings have reached a two-year high.HODLing Mentality Among BTC Investors PrevailThe analytics firm Glassnode follows the behavior of Bitcoin investors by examining the BTC movements (or lack of) from their addresses. According to recent research, HODLers have increased...

The fact that China has become such a big “bitcoin nation” over the past several years is worrying to some. They are concerned that the country could potentially take over the space, which would ultimately mean the end of bitcoin and crypto as we know it.Is China Getting Too Powerful in the BTC Space?As it stands, China controls much of the global mining power. That means that most mining operations in the world either make their home in China or are powered by Chinese businesses or firms....

The Inner Mongolia region of China is a prime hotspot for bitcoin miners. The energy is cheap and plentiful, so if you’re looking to potentially be part of the extraction process for new coins, this is probably the place to do it in.China Takes Quick ActionHowever, if you show up to do business within this region, make sure you don’t lie on your application form, and always be clear about who you are and what you’re looking to accomplish. Approximately 21 mining farms – including those of...