Tag Archives: Bitcoin Mining

Energy Harbor Corp. has announced that it will partner with a firm known as Standard Power over the next five years to provide carbon-free, clean energy from its nuclear sources to ensure Standard Power can mine cryptocurrencies without leaving a heavy mark on the environment. Standard Power will begin utilizing this type of electricity by the end of this year. Standard Power Seeks Green Methods of Extracting BTC Bitcoin and cryptocurrency mining has been at the center...

CryptoPotato had the opportunity to host a discussion with Lennix Lai – the Financial Markets Director at OKEx. Established in 2017, OKEx is one of the leading cryptocurrency exchanges in the world by means of trading volume and is also a big player in China. We took the opportunity to discuss, first hand, what’s currently going on in the market from both a retail and institutional perspective, as well as what’s actually happening in China. $60K Bitcoin In...

Hive Blockchain Technologies Ltd, the cryptocurrency mining firm that went public in 2017, has purchased more than 3,000 mining devices. The machines, MicroBT WhatsMiner M30S, should increase the firm’s overall Bitcoin hash rate by nearly 50%. HIVE Buys 3,019 Miners The company announced its latest purchase in a press release on July 12th. The equipment will be put to work shortly with an aggregate hash power of 264 Petahash per second, which should increase the overall BTC...

The Central Bank of China has ordered the shutdown of an alleged software company given its reported ties to crypto mining. Beijing Qudao Cultural Development has been suspended at the time of writing and must cease all operations or face legal consequences from the bank’s regulators. Its website has also been deactivated. China Shuts Down Software Company China has always had a rather mixed relationship with bitcoin and cryptocurrencies. In the past, the country has...

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...

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...

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...

Michael Saylor of MicroStrategy fame is convinced that China is making a huge mistake by not allowing bitcoin operations to continue within its borders. Michael Saylor Is Critical of China’s Decisions Over the past few days, bitcoin has experienced something of a surge. It was trading for about $29,500 just over a week ago, and yet today, the currency has risen to roughly $36,000. While this is by no means a heavy boom, the currency is doing considerably better, and the...

China’s crackdown on bitcoin mining has caused severe damage to local businesses. Owners of small hydroelectric power plants have decided to put for sale their operations, promising that they can be used for BTC mining. Illegal BTC Mining in China to Go on? As it has become painfully clear for the cryptocurrency community, China doesn’t favor Bitcoin. The world’s most populated nation tends to reiterate its ban on the industry frequently, but this May, it took things a step...