Mining

AEC is not the first firm to repurpose a landmark of modern industry to generate cryptocurrency.Mechanicville, New York’s hydroelectric plant, has now been repurposed for Bitcoin mining. The plant owned by Albany Engineering Corp (AEC) is touted to be the oldest renewable energy facility in the United States.Built in 1897, the hydro-plant has suffered serious setbacks. In 1986, the National Grid brought in AEC to help revamp the plant. The deal would see them buy back energy from AEC at a...

The results are not limited to mining revenue. Glassnode reveals that average block times have peaked over the past few days rivaled only by levels during Bitcoin’s infancy around 2009-2010. Bitcoin miners’ revenue has seen a rise following the network’s biggest difficulty drop yet. Blockchain.com figures indicate that daily miner revenues have increased by over 50%. The exodus of Bitcoin miners from China has resulted in a never-seen-before “interesting dynamic”. The recent crackdown on...

The month of June marked a turning point for the world of crypto and bitcoin mining, and it looks like revenue for miners has begun to slip. Crypto Miners Are Losing Out On Funds Both bitcoin and Ethereum miners reported a drop in earnings throughout June 2021. Profits fell by as much as 42 percent from May, which saw those involved in extracting new units garner a whopping $1.45 billion in crypto-based profit. By contrast, June only produced $839 million in profit for...

VDollar seeks to venture into the crypto industry at a time when global adoption is on the rise.VDollar Exchange Ltd is coming up under the market statement, “Mining is Trading”. The Colorado-registered crypto exchange allows users to trade cryptocurrencies. Simultaneously, 100% of transaction fees generated are placed into the USDT Reserve Pool belonging to all token holders. The on-chain address of the USDT Reserve Pool will be published for transparency and verification.According to...

PBOC and the Chinese Government  joined hands to practice a permanent crypto ban in the region citing environmental issues. Bitcoin is said to have suffered a slight decrease in its prices due to incessant policies encouraging a full-time ban on crypto operations in China. The country has adopted a strict stance towards cryptocurrency operations and has issued a fresh warning to institutions that are still engaged in mining BTC or promoting cryptocurrency in the region.In a recent move to...

Peter Wall, CEO of Argo Blockchain, emphasized the major developments in the crypto market since June, calling attention to the undeniable depletion in the total global hash rate.The only cryptocurrency mining company listed on London Stock Exchange Argo is eyeing a second prospective listing on Nasdaq Exchange. The publicly traded blockchain technology committed to large-scale crypto mining declared the probability of a secondary listing on the Nasdaq. This news comes as part of its...

Clean Spark is a cryptocurrency mining firm in Woods Cross, Utah that appears to have found a sustainable crypto mining solution that would make even the most die-hard environmentalists happy. Clean Spark Ensure Clean Mining for All In recent weeks, crypto mining has been at the center of heavy controversy. Several digital currency heads and financial analysts – including Elon Musk of SpaceX and Tesla fame and Kevin O’Leary from the television show “Shark Tank” – have...

The investment firm IBC Group, which has significant cryptocurrency mining operations in China, announced its intentions to close down all its Bitcoin and Ethereum mining facilities throughout the country. Instead, the organization plans to move its workers to Canada, the USA, the UAE, Kazakhstan, Iceland, and numerous South American nations. IBC Group Leaves China As a result of the crackdown on cryptocurrency mining launched by the Chinese government, the majority of the...

The July 1st report of the Bitcoin Mining Council became questionable, as some mining companies have ceased operation in major parts of China, and many companies are banned for supporting crypto-related businesses.The July 1 report of the Bitcoin Mining Council revealing a 56% growth in sustainable electricity mix has been greeted with criticism. Critics said the findings were finalized based on an unfair scientific methodology.Following the completion of the study, criticisms started when...

Fresh data from Glassnode revealed today that Bitcoin’s mining difficulty dropped by 28%, making it the largest negative adjustment in the history of the cryptocurrency.  Source: GlassnodeWhat is Bitcoin Mining Difficulty Adjustment? For clarity, Bitcoin mining difficulty is a metric that describes how hard it is for miners to mine a new block on the network. When the difficulty increases, it becomes harder and miners will need to dedicate more computational power to find the...