Mining

The decentralized platform has made an immense surge in market capitalization. This is pivoted by the entrance of various projects that seem eye-catching to entrepreneurs. These projects have mining pools within their networks. For instance, Ethereum and Bitcoin, the world’s leading digital currencies, made an impact on the crypto ecosystem with the inauguration of mining systems. However, Ethereum switched to staking with a new consensus called proof-of-stake that could...

In the following, we take a look at cryptocurrency mining and the strong competitive benefits that ASIC miners have to offer. Enhanced Efficiency, Enhanced Returns The primary driving factor behind the next-gen ASIC miners is their enhanced efficiency. As opposed to their predecessors, these miners consume significantly less power per hash, translating into reduced operational costs. In an industry where electricity expenses can devour a substantial chunk of revenue, this...

Bitmain’s investment represents not only a significant financial commitment but also a strategic move to fortify its partnership with Core Scientific. Bitmain, a leading manufacturer of crypto mining rigs, has announced a substantial investment of $53.9 million in Core Scientific, a major North American blockchain data center provider and digital asset miner since 2017. Core Scientific operates data centers in multiple US states and utilizes their Minder software for efficient mining...

In yet another successful phishing scheme, an unsuspecting user suffered a multimillion-dollar loss in Tether. Etherscan data revealed that $4.46 million worth of Tether (USDT) was siphoned from an unsuspecting Kraken wallet user. The stolen funds were subsequently transferred to an address concluding with “ACa7.” Another Successful Phishing Attack Details are thin about how the scam was executed, however, prominent blockchain security company PeckShield flagged the address...

The Bitcoin network is currently dealing with an increase in transaction congestion, with data from the Mempool indicating a backlog of over 470,000 pending transactions. Somewhat expectedly, this has resulted in the transaction fees on the Bitcoin Network fluctuating quite severely. Bitcoin Transaction Fees Fluctuate Mempool data reveals that the Bitcoin Network is experiencing the longest block fullness with over 470,000 pending transactions. Recent data also reveals that...

The merger between Hut 8 and USBTC is not just a significant event within the crypto space, it also holds great promise for investors and the broader financial markets. In a recent development, Hut 8 Mining Corp (NASDAQ: HUT) has received final approval from the British Columbia Supreme Court for its merger with US Bitcoin Corp (USBTC). The Journey to Merger Between Hut 8 and USBTC The merger between Hut 8 and USBTC was first announced in February 2023, marking a pivotal moment in the...

The case between Ripple and the United States Securities and Exchange Commission has surely done a lot of damage to the company and its cryptocurrency – XRP. In fact, a lawyer who represents tens of thousands of XRP holders recently took it to X to outline the damage that the lawsuit has caused the company. He argued that it harmed not only the cryptocurrency’s adoption but also potentially affected major developments in the past three years. XRP Amid the Ongoing SEC Saga...

Democratic presidential hopeful Robert Kennedy Jr. has serious issues with the idea that bitcoin is causing harm to the world’s oceans and environment. Robert Kennedy Dismisses Environmental Concerns Regarding BTC Bitcoin – especially bitcoin mining – has been the subject of several environmentalists’ wrath over the past few years. There have been many reports claiming that crypto mining is doing irreparable harm to the planet and the process uses more energy than...

If not for anything else, the latest report about clean energy usage could mean a greater move toward the adoption of BTC. A Bloomberg analyst has just reported on the present situation with Bitcoin (BTC) miners as it concerns clean energy usage. In a recent thread on X (formerly Twitter), the analyst, Jamie Coutts said that the percentage of clean energy used for Bitcoin mining has gone past 50%. That is more than 50% of Bitcoin mining now comes from renewable sources. According to...

The crypto community on X (Twitter) was baffled recently after an anonymous Bitcoin user paid a whopping 19.89 BTC (over $500,000) in transaction fees to move just 0.074 BTC (worth less than $2,000 at current rates). The payment went to the Bitcoin mining pool F2Pool that generated the valid block. The team behind the entity revealed that the transaction will be put on hold for three days in case the person or organization who conducted it wants to claim it back. Otherwise,...