Mining Blog & Mining News

Blog • 12 March 2021, Friday, 12:00

MicroStrategy Does Its Bitcoin Thing Again, Man Group CEO Warns + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Investments news US-based business intelligence company MicroStrategy bought additional BTC 262 for around USD 10.5m in cash at an average price of USD 57,146 per coin. Per CEO Michael Saylor, as of March 12, the company holds BTC 91,326 (USD 5.25bn) acquired for USD 2.21bn at an average price of USD 24,214 per bitcoin. Luke Ellis, CEO of Man Gro...

Blog • 12 March 2021, Friday, 08:00

A Year Since Big Market Crash: Bitcoin Up 1,370%, Ethereum - 1,740%

It has been a year since the infamous Black Thursday (USA time) / Black Friday (UTC time) - one of the "droppiest" events in Bitcoin (BTC)'s, Ethereum (ETH)'s, and altcoins' history. And the world's first crypto has come a long way since. On the night (UTC time) from Thursday, March 12, to Friday, March 13, 2020, the crypto markets turned very bloody. The focus was on the number one crypto by market capitalization which had abruptly taken a steep dive - some 40%. It went from the...

Blog • 12 March 2021, Friday, 06:00

Miner Backlash Over Fee Upgrade Provokes A Countermove by Ethereum Devs

Ethereum (ETH) developers have responded to a miner backlash against a fee-related Ethereum Improvement Proposal (EIP) by proposing to bring forward the blockchain’s planned move to a proof-of-stake (PoS) consensus mechanism which makes miners obsolete. Developer Mikhail Kalinin has submitted a pull request to “implement the executable beacon chain proposal,” which would deploy a version of the Ethereum Mainnet with PoS consensus. Similarly, Ethereum 2.0 lead coordinator Danny Ryan has advocate...

Blog • 11 March 2021, Thursday, 17:00

Video Cards, Crypto Mining Facility Demand Soars in Russia

The demand for video cards and ready-made bitcoin (BTC) and altcoin crypto mining centers is rising astronomically in Russia as more people in the nation flock to the fast-expanding sector. Per a report from the media outlet Gazeta, data from the Russian e-commerce platform Avito revealed that last month demand for GPUs rose by 2.6 times on last year’s figures, with demand for ready-to-go data center mining facilities grew almost fourfold in the same time period. The same media outlet quoted exp...

Blog • 11 March 2021, Thursday, 07:00

Some Ethereum Miners Call for an 'Educational' 'Show of Force'

Some Ethereum (ETH) miners are preparing for "a show of force" on April 1, standing against the implementation of the much-discussed Ethereum Improvement Proposal (EIP) 1559 by aiming to put at least 51% of Ethereum's computing power into a single pool. A group of miners is once again on the move to try and block the proposal that is expected to bring automatic setting of fees and token burn mechanism for each transaction, in an attempt to resolve the major issue of high transaction fees on ...

Blog • 10 March 2021, Wednesday, 23:00

Japanese Crypto Tax Evader Hit with Year-long Jail Sentence

The Japanese courts have sent an ominous warning signal to would-be crypto tax evaders – by jailing a 56-year-old man who pleaded ignorance of how Japan’s crypto tax laws work. Per Chunichi, the man, an office worker named Hideji Matsuda, was given a one-year sentence and fined over USD 202,000 by a judge at the Kanazawa District Court in Ishikawa. The court heard that Matsuda had wilfully neglected to file accurate tax declarations on his bitcoin (BTC) trading in the period 2017-2018, and that ...

Blog • 10 March 2021, Wednesday, 17:00

Ethereum Miners Don’t Cause Price Volatility, Says Analyst

If you’re looking for someone to blame for disruptive ethereum (ETH) price corrections, you may be mistaken to look in the direction of miners, per the findings of a new report. Researchers behind a new Coin Metrics study of Ethereum network miner activity have concluded that there was little evidence to collate miner activity with market corrections. Although the study’s author, Senior R&D Analyst Karim Helmy, wrote that “miner holdings have also generally grown over time as a percentage of the...

Blog • 10 March 2021, Wednesday, 13:00

FX Branch of Japanese Giant SBI Planning Crypto Move – Report

Another subsidiary of the Japanese financial giant the SBI Group, FX Clearing Trust, is reportedly targetting crypto-related business expansion. Per an official release, the firm has now acquired a license for investment trust-related business operations, and will rename itself the SBI Clearing Trust. The firm was set up in 2014, and has capital reserves of over USD 1.8m. Although the official release made no direct mention of crypto-related developments, Nikkei, reported that the SBI arm was a...

Blog • 10 March 2021, Wednesday, 07:00

JPMorgan to Offer 'Crypto Exposure Basket', but Criticized as Not 'Crypto'

The news is out that major investment bank JPMorgan Chase is looking to offer its clients access to the crypto market - but not everybody see the offering in good light, or particularly crypto-related. Dated March 9, the bank's prospectus on the US Securities and Exchange Commission (SEC) website discusses a J.P. Morgan Cryptocurrency Exposure Basket - a "basket of companies with exposure to cryptocurrency due May 5, 2022." It goes on to say that the notes are designed for those investors w...

Blog • 09 March 2021, Tuesday, 11:00

Taiwanese Prosecutors Swoop, Accusing Bitmain of IP Violations

Taiwan’s New Taipei District Prosecutors Office is investigating the possibility that the Mainland Chinese crypto mining giant Bitmain has, in the prosecutors’ own words, “poached” up to 100 AI engineers from Taiwanese companies in an operation that allegedly began back in 2018, per multiple media reports. Per the Japanese media outlet Nikkei, as well as the Taiwanese outlets Apple Daily and the Liberty Times, prosecutors have swooped in at at least seven addresses in New Taipei City and Hsinchu...

Blog • 09 March 2021, Tuesday, 09:00

Bitcoin, Ethereum Rally Despite Outflows From Grayscale's Trusts

The so-called Grayscale effect might be waning, as both bitcoin (BTC) and ethereum (ETH) are rallying while these two most popular cryptoassets are leaking from Grayscale's trusts. In the past 7 days, BTC 211 (USD 11.4m) and ETH 781 (USD 1.4m) left the Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (GETH), respectively. In the same period of time, the price of BTC jumped by almost 9%, while ETH rallied by 16%. Outflows of BTC 100 were seen several times in the second half of the...

Blog • 09 March 2021, Tuesday, 05:00

Chinese Firms Get Bullish as Lottery Operator Renames Itself ‘BIT Mining’

Chinese firms appear to have become emboldened – and increasingly eager to clamber on board the crypto bandwagon – with 500.com, one of the nation’s biggest sports lottery firms, planning to rename itself with a distinctly crypto-sounding name: BIT Mining. The company, which is listed on the New York Stock Exchange, also stated in a press release, that it would be changing its Chinese name accordingly to 比特矿业, using two of the same Chinese characters used in the word “bitcoin” (比特币). Share price...

Blog • 08 March 2021, Monday, 21:00

Miners Returning to S Korea, Where Crypto Is ‘Essential’ for 20-30s

South Korean Crypto Fever 2.0 is showing no signs of slowing, with miners returning to the fray – and conventional investment experts claiming that crypto has become “essential” for portfolio holders in their 20s-30s. As previously reported, the operators of PC gaming rooms (PC bang in Korean) across the country have turned to crypto mining as an alternative way to earn money during the coronavirus pandemic, which has forced PC bangs to close their doors to customers. But it appears that PC owne...

Blog • 08 March 2021, Monday, 14:00

Morgan Stanley, Soros Tap Into Bitcoin, Speedy Taproot, Ethereum's Berlin + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Investments news US-based NYDIG, a Stone Ridge-run subsidiary firm that provides crypto services to institutional investors, said it raised USD 200m in a growth capital round led by Stone Ridge, Morgan Stanley, New York Life, MassMutual, Soros Fund Management, and FS Investments, among others. NYDIG claims that insurers now own, in aggregate, mor...

Blog • 08 March 2021, Monday, 08:00

Not Only Institutional Investors Focus On Bitcoin Now - Goldman Sachs

US investment banking giant Goldman Sachs sees rising demand for bitcoin (BTC) not only among institutional investors, but also in the private wealth management industry. “I think it's pretty fair to say that all of our institutional client discussion is really focused around bitcoin. Where the questions are not really, 'What is it,' thankfully. It's more about how can we get exposure, what are the instruments we can transact, and what is Goldman offering today,” Mathew McDermott...

Blog • 08 March 2021, Monday, 06:00

Norwegian Giant Aker Goes Bitcoin, Defends BTC Mining, Eyes Micropayments

Aker ASA, a listed Norwegian industrial investment company, said it will invest in bitcoin (BTC) and blockchain ecosystem via its newly established subsidiary Seetee that is initially capitalized with NOK 500m (USD 58m) and "will keep all its liquid investable assets in bitcoin." (Updated at 10:01 UTC: updates throughout the entire text. Updated at 10:28 UTC: updates throughout the entire text.) "In Bitcoin speak, we will be hodlers," Kjell Inge Røkke, Chairman of Aker, said in his 23 pages lett...

Blog • 05 March 2021, Friday, 18:00

Redefining the Future of Global Finance with DeFi

Eddy Travia is the CEO of Coinsilium, a focused blockchain, DeFi, and crypto finance venture operator. Decentralized, peer-to-peer, and borderless, digital assets and open networks offer a promising alternative to the way money and value has traditionally been transacted — but what is the true economic relevance of decentralized finance (DeFi), and how can it shape the future of global finance? In many ways, DeFi could provide us with an early window into what the future of global finance shou...

Blog • 05 March 2021, Friday, 14:00

Finance Guru 'Loves' Bitcoin, Ethereum Improvement Agreement, McAfee Hit Again + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Investments news In an interview with Yahoo Finance, personal finance guru Suze Orman (1.4m followers on Twitter) emphasized the strength of bitcoin (BTC) as an investment vehicle but criticized it as an alternative to fiat currency, adding that the cryptocurrency is "risky" and its investors should be prepared to lose their money. "I love bitcoi...

Blog • 05 March 2021, Friday, 06:00

Ripple Replies to SEC, Claims It Caused Damage to XRP Holders

In an ongoing legal battle, San Francisco-based blockchain company Ripple filed a response to the US Securities and Exchange Commission (SEC), repeating that XRP is not a security nor was it necessary for its distribution and sale to be registered as such - stating that the regulator's complaint caused some USD 15bn damage to holders and others. Per the 100-pages document, the SEC’s complaint “advances an unprecedented and ill-conceived legal theory — with neither statutory mandate nor congr...

Blog • 04 March 2021, Thursday, 14:00

Cuban Goes Dogecoin, Bitcoin's USD 100K Signal, Ripple's CBDC Plan + More news

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Crypto adoption news US-based major crypto payment services company BitPay announced the rollout of dogecoin (DOGE) payments for merchants and consumers. The Dallas Mavericks will be the first to accept dogecoin. "The Mavericks have decided to accept Dogecoin as payment for Mavs tickets and merchandise for one very important, earth-shattering rea...

Blog • 03 March 2021, Wednesday, 13:00

Brave Buys Search Engine, Kings of NFT, Binance In Colombia + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Decentralization news Brave, the developer of a crypto-friendly internet browser, said it acquired Tailcat, the open search engine developed by the team formerly responsible for the privacy search and browser products at Cliqz, a holding of Hubert Burda Media. "Tailcat will become the foundation of Brave Search. Brave Search and the Brave browser...

Blog • 02 March 2021, Tuesday, 15:00

PayPal Rumored To Buy Curv, Goldman Sachs Reenters Bitcoin + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Investments news PayPal is said to be in the process of buying crypto custodian Curv, Coindesk reported, citing three undisclosed sources "familiar with the situation." Israeli news website Calcalist first reported that Curv is in negotiations with an undisclosed bidder, while the deal value might reach USD 200m - USD 300m. Per Coindesk's sou...

Blog • 01 March 2021, Monday, 11:00

China’s Inner Mongolia Might Push Bitcoin Miners Towards Greener Energy

The Chinese Inner Mongolia Autonomous Region (IMAR) – a hub of crypto mining activity, particularly Bitcoin (BTC) mining – could be set to enact a shutdown of the industry, ordering all operators to close up shop as early as next month, and possibly pushing them to greener sources of energy. Per an official announcement, a new set of energy requirements is now in a consultation period, which will run until March 3. The measures are a response to clean energy commitments and internationally agree...

Blog • 01 March 2021, Monday, 07:00

Coin Race: Top Winners/Losers of February; Binance Coin Wins the Race

And the fields of green continued. Following a successful January for the most top 100 coins by market capitalization, February brought further gains, with only two coins - that's right, only two out of 100 - ending the month in red. Even though the markets turned red in the past week, it still wasn't enough to change the color of the overall monthly performances. Not a single coin in the top 10 dropped over the course of the past month, with some pushing to the never-before-seen highs a...

Blog • 26 February 2021, Friday, 15:00

Bitcoin Taproot Upgrade Runs Into Activation Debate

Taproot, a proposed protocol upgrade that should improve Bitcoin (BTC)'s privacy and flexibility, seems to be in the final stage of its path to activation, with one more major step to take and, apparently, argue over: the LockinOnTimeout (LOT) parameter that determines whether or not BTC nodes will require mandatory signaling for activation of the soft fork. Some bitcoiners are asking for the Taproot to be finally released and with "LOT=false", claiming that nearly all developers and all lar...

Blog • 26 February 2021, Friday, 13:00

Kraken Valuation, Millions Of Crypto Robinhoods, 1inch Bridge + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Exchanges news Kraken is in talks to raise new funding that would see its valuation more than double, to more than USD 10bn, reported Bloomberg, citing a person familiar with the matter. The company is in discussions with firms including Fidelity, Tribe Capital, and General Atlantic, while terms, including lead investors, aren’t final. Kraken’s v...

Blog • 26 February 2021, Friday, 05:00

With USD 190M TVL in Just 10 Days after Mainnet Launch, ZKswap Prepares for ProBit Exclusive Feature March 2

Disclaimer: The text below is a press release that was not written by Cryptonews.com. The next rollout of ProBit Exchange’s popular ProBit Exclusive has been confirmed for Layer 2 DEX ZKSwap on March 2, enabling subscribers to pick up a 50% discounted rate from the market price. The Exclusive duration continues to feature a newly revamped 3-day subscription period to further accommodate the heavy demands for the bi-monthly offering. ProBit Exclusives have proven to be among the most significant...

Blog • 25 February 2021, Thursday, 15:00

Ethereum ETF, Preconditions For Digital Dollar, Mt. Gox Voting + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Investments news CI Global Asset Management said it has filed and obtained a receipt for a preliminary prospectus for CI Galaxy Ethereum ETF (exchange-traded fund) to be traded on the Toronto Stock Exchange. "When launched, it is expected to be the first ETF in the world to invest directly in ether," they said, without specifying when this ETF mi...

Blog • 24 February 2021, Wednesday, 07:00

Don't Blame Bitcoin Miners For Price Dips, Says Analyst

There's little reason to believe that Bitcoin (BTC) miners are responsible for downturns in BTC’s price, according to crypto intelligence firm Coin Metrics. Per Karim Helmy, Senior R&D Analyst ad the firm, this is due to the small scale of miner deposits in comparison to total exchange flows, and the lack of correlation between miner-exchange flows and price. "At time of writing, miner deposits make up about 5.5% of exchange inflows. While most miner selling is done [over-the-counter (OTC)]...

Blog • 23 February 2021, Tuesday, 15:00

Ethereum Miners Are Likely to Accept EIP-1559 Activation - Analysts

The vast majority of Ethereum miners are unlikely to protest EIP-1559, a proposed change to Ethereum’s ‘crazy high’ fee market that would potentially cut a fair share of miners’ revenue, according to popular crypto analyst Hasu and Georgios Konstantopoulos, Research Partner at Paradigm, a cryptoasset investment firm. EIP-1559 is an Ethereum improvement proposal by ETH co-founder Vitalik Buterin that was first proposed in April 2019. It is supposed to change the rules of how Ethereum users bid fo...

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