Mining Blog & Mining News

Blog • 23 June 2021, Wednesday, 19:00

Here’s What China’s Bitcoin Mining Crackdown 2.0 Looks Like

Chinese crypto miners are reluctantly calling it a day – with reports of miners nationwide shuttering their operations, going offline, and either selling their equipment for reduced prices or relocating overseas. The alacrity of Middle Kingdom’s Crypto Crackdown 2.0 has blindsided many, although there were warning signs in some areas earlier this year, particularly when central authorities began taking regions to task over their carbon emissions records – with fingers pointed at the mining indus...

Blog • 23 June 2021, Wednesday, 17:00

McAfee's Extradition, Wood's Crypto Shopping, Coinbase In Japan + 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. __ Legal news Spain’s National Court has approved the extradition of detained antivirus software entrepreneur John McAfee to the United States, where he is wanted on tax-related criminal charges that carry a prison sentence of up to 30 years, AP reported. The decision can be appealed and the final extradition will need to be approved by the Spani...

Blog • 23 June 2021, Wednesday, 11:00

Canaan Diversifies Business by Becoming a Bitcoin Miner In Kazakhstan

Major producer of Bitcoin (BTC) mining equipment Canaan announced it has moved beyond its existing business model and into becoming miners themselves, as "the logical next step" towards optimizing their revenues, strengthening the inventory management and supply chain capabilities, as well as accumulating BTC. Canaan is "driving their own crypto-mining business in Kazakhstan with their latest Avalon Miner units already in operation," the company said in the emailed press release today. This way,...

Blog • 23 June 2021, Wednesday, 09:00

Bukele Teases Volcano-powered Bitcoin Mining Center as Exchange Arrives

Not everybody in El Salvador may be aboard the Bitcoin (BTC) boat – but the nation’s bullishly pro-BTC President Nayib Bukele appears set to press ahead with his crypto plans nonetheless, with an overseas exchange opening its doors for business and a “sneak peek” at the nation’s new “green” mining center. According to La Prensa Gráfica, a Guatemalan crypto exchange named Coincaex will become the first overseas trading platform to launch in the nation. And the exchange says it hopes to be transac...

Blog • 22 June 2021, Tuesday, 21:00

Taleb Releases a Dirty Swan Upon Bitcoin, Bitcoiners Were Fast to Clean It

Nassim Nicholas Taleb, an essayist and scholar, known for his book on the extreme impact of rare and unpredictable events, The Black Swan, released a paper on Bitcoin (BTC), with Bitcoiners jumping on what they deemed numerous inaccuracies. In his paper titled 'Bitcoin, Currencies, and Bubbles', Taleb, who said in 2018 that BTC is an excellent idea, now stated that bitcoin, in its current version and despite the hype, "failed to satisfy the notion of "currency without government" (it pr...

Blog • 22 June 2021, Tuesday, 19:00

New Investments, Miner Migration, US Treasury Nominee on Crypto + 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 Investment firm VanEck filed a new draft prospectus for a bitcoin (BTC) futures mutual fund with the US Securities and Exchange Commission (SEC). Their Bitcoin Strategy Fund will invest in bitcoin futures contracts, as well as pooled investment vehicles and exchange-traded products that provide exposure to bitcoin, but not in ...

Blog • 22 June 2021, Tuesday, 16:00

StormGain Levels Crypto Mining Playing Field to Billions of Smartphone Users

Disclaimer: The text below is a press release that was not written by Cryptonews.com. The concept of cryptocurrency mining has a somewhat negative connotation to it these days. Many people see it as a waste of electricity as it requires dedicated and expensive hardware. But what if that was no longer the case, and anyone could mine cryptocurrency with their smartphone? Equal Mining Opportunities For Everyone With StormGain In the current crypto mining landscape, there is an inequality waiting to...

Blog • 22 June 2021, Tuesday, 12:00

Death Cross Appears on Bitcoin Charts, But It May Mean Nothing at All

Both Crypto- and non-Cryptospheres are discussing a "death cross" that appeared on bitcoin (BTC) charts, which is seen by some traders as a bearish signal that indicates lower prices to come. However, it seems there is no actual proof that death cross means or "confirms" anything that is about to happen, but is instead displaying what has already been set in motion. The media, traders, charters, analysts, and other insiders are keeping a close eye on the charts, after bitcoin has formed a death...

Blog • 21 June 2021, Monday, 18:00

Salvadorian Media Takes Dim View of Brock Pierce and ‘Bitcoin Delegation’

The Salvadorian media has continued to react skeptically to crypto-related developments as the country edges toward bitcoin (BTC) adoption. A number of international crypto figures traveled to El Salvador late last week, including Brock Pierce, the head of the Bitcoin Foundation, who tweeted – in a post that drew no shortage of ire from the wider crypto community – that he was “very honored to lead” an “official delegation of bitcoin ambassadors to El Salvador.” With a new law on its way, Presid...

Blog • 21 June 2021, Monday, 14:00

Ethereum, Litecoin, DOGE Miners Run Fewer Rigs Amid Bitcoin Hashrate Drop

Bitcoin (BTC) saw a double-digit drop in its hashrate (the computational power of the network) in a single day following the recent regulatory crackdown in a vital mining region in China, as well as from its June peak. However, Ethereum (ETH) and several other proof-of-work (PoW) projects shared similar faiths. As reported, Xinjiang ordered several crypto mining farms to shut down on June 9, but miners were still left with the super popular Sichuan province, especially as many of them migrate t...

Blog • 21 June 2021, Monday, 12:00

China Doubles Down On Crypto FUD By Recycling Old Warnings

The central People’s Bank of China (PBoC) has issued a statement announcing that it has reached an agreement with all the nation’s biggest commercial banks and one of its biggest e-payments providers to help it enact a stronger crackdown on the crypto industry and its users. (Updated at 10:33 UTC: updates throughout the entire text. Updated at 10:30 UTC with a statement by the Postal Bank of China.) In the statement, the PBoC asserted that it had spoken to major players, such as the Industrial a...

Blog • 21 June 2021, Monday, 08:00

Chinese Big-four Bank to Crack Down on Crypto, Will ‘Report’ Offenders

One of China’s biggest commercial banks, the Agricultural Bank of China, said it will crack down on crypto transactions, and will seek to block accounts connected with bitcoin (BTC) and crypto-related activity. The bank has issued a terse and short statement on the matter, which was published in full by East Money. BTC, ethereum (ETH), and many altcoins dropped following the announcement. At 07:21 UTC, BTC trades at USD 32,949, and is down by more than 4% in the past hour and 6.6% in a day, whil...

Blog • 18 June 2021, Friday, 23:00

AscendEX Launches Hummingbot Liquidity Portal

Disclaimer: The text below is a press release that was not written by Cryptonews.com. AscendEX, formerly BitMax, a global cryptocurrency financial platform with a comprehensive product suite, is excited to announce the launch of the Hummingbot Liquidity Mining Portal. AscendEX users will be able to access tools and upside that were previously only available to a small circle of sophisticated market makers. In celebration of the Hummingbot Liquidity Portal integration, AscendEX will launch a camp...

Blog • 18 June 2021, Friday, 21:00

13 New Grayscale Candidates, Goldman Galaxy, Danske Ban + 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 Investment company Grayscale Investments has expanded their list of assets that they’re considering for inclusion into their product family, adding 1inch (1INCH), bancor (BNT), curve (CRV), internet computer (ICP), kava (KAVA), kyber network (KNC), loopring (LRC)], near (NEAR), polygon (MATIC), ren (REN), solana (SOL), universal...

Blog • 18 June 2021, Friday, 19:00

Traditional Investors Sending an ESG Sign Important to Bitcoin Miners Too

As debt investors seem to be looking into how much an energy company is polluting, the bond market may be seeing higher funding costs for those companies polluting more - showing the rising importance of Environmental, Social, and Corporate Governance (ESG)-compliant investments at the time when regulators, skeptics, and Bitcoin (BTC) competitors are targeting energy-intensive BTC mining. It seems that the ESG concerns are being included in the funding costs for oil and gas companies. According...

Blog • 18 June 2021, Friday, 17:00

Sichuan ‘Joins Chinese Crypto Crackdown’ as US Woos Middle Kingdom Miners

The Chinese crypto mining crackdown is starting to gather pace – with some areas rich in hydropower looking to join coal-powered areas in what is increasingly looking like a nationwide shutdown of industrial mining. And the US is using this opportunity to compete. As previously reported, Sichuan Province – a hydropower and crypto mining hotspot – has previously appeared content to allow miners to continue unfettered in the region, particularly as the summer typhoon season begins. During the sea...

Blog • 17 June 2021, Thursday, 13:00

US National Republican Congressional Committee to Accept Crypto Donations

The US National Republican Congressional Committee (NRCC) will reportedly start accepting cryptocurrency donations via major crypto payments provider BitPay - as a response to the speaker of the US House of Representatives Nancy Pelosi’s "socialist agenda." NRCC is the Republican Hill committee that works to elect Republicans to the United States House of Representatives. According to Axios, citing NRCC, this campaign arm will process the donations using BitPay. The donations will be converted ...

Blog • 17 June 2021, Thursday, 09:00

World Bank Accused Of Ignorance & Hypocrisy As It Refuses to Help El Salvador

Commentators have accused the World Bank of hypocrisy and ignorance after it stated that it would not assist El Salvador and its President Nayib Bukele’s plan to create a bitcoin (BTC)-powered economy – claiming that bitcoin has displayed “environmental” and “transparency” “shortcomings.” Per Reuters, a World Bank spokesperson claimed El Salvador had turned to it for help – but that it had refused the request, explaining: “We are committed to helping El Salvador in numerous ways including for cu...

Blog • 16 June 2021, Wednesday, 14:00

Utopia P2P’s Crypton (CRP) is the Future of Cryptocurrency Mining

Disclaimer: The text below is a press release that was not written by Cryptonews.com. Among the most popular cryptocurrencies for mining are Bitcoin, Ethereum, Filecoin, Chia. Each has a relatively high investment risk, poor outlook, and questionable use-cases. What if there were a cryptocurrency that had no such weaknesses? Such is the condition of the exclusive and fully integrated privacy coin of the Utopia Peer-to-Peer Ecosystem, Crypton (CRP). Investment Risk Miners looking to earn any sign...

Blog • 16 June 2021, Wednesday, 10:00

El Salvador Gov’t Mulls BTC Pay as Int’l Bitcoin Players ‘Roll into Town’

The government of El Salvador is forging away at its President Nayib Bukele’s dream of creating a bitcoin (BTC)-powered economy – with the cabinet “discussing” plans to allow firms to pay employees in BTC and preliminary meetings with international Bitcoin players already underway. Speaking to the media, Rolando Castro, the Salvadorian Minister of Labor and Social Welfare, said that government ministers are currently discussing whether companies in the country should pay staff in BTC – although ...

Blog • 15 June 2021, Tuesday, 20:00

Bitcoin Miner Relocation Within China and Worst Case Scenario

The relocation of Bitcoin (BTC) miners within China is already underway – and should the situation worsen, they might also be moving out of the country in droves, according to Jiang Zhuoer, CEO of mining pool BTC.TOP. This, however, would lead to hashrate decentralization. The majority of miners in China had been running as usual until recently, despite the government’s crackdown on BTC mining and trading, Jiang told Cryptonews.com. On June 9, the new policies ordering mines to shut down have r...

Blog • 15 June 2021, Tuesday, 06:00

MicroStrategy Has No Limits For Bitcoin Purchases, Discusses Sale Scenarios

One of the most bullish bitcoin (BTC) investors, US-based software company MicroStrategy, said it has no specific target for their BTC holdings as they plan to sell USD 1bn worth of their shares and use part of the proceeds to buy more bitcoin. "We will continue to monitor market conditions in determining whether to conduct debt or equity financings to purchase additional bitcoin," the company said in a prospectus, filed with the US Securities and Exchange Commission. The company said it may s...

Blog • 14 June 2021, Monday, 20:00

Crypto Listing and Delisting Announcements: Week 24

Here is our weekly collection of digital asset listing and delisting, trading pair-related announcements by crypto exchanges that we found last week. Have we missed something? Do you have information about new listings and/or delistings? Let us know here. __ Bibox Listings: Amp (AMP) DogeSwap (DOG) Kianite Finance (KIAN) Pippi Finance (PIPI) Bilaxy Listings: FXCoToken (FXCO) Mozik Token (MOZ) DAO1 (DAO1) Nimbus (NBU) 1Tronic Network (1TRC) EgorasUSD (eUSD) WhiteWoolf Network (SAMMY) Cryption Net...

Blog • 14 June 2021, Monday, 16:00

MicroStrategy Gets Another USD 500M To Spend on 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 MicroStrategy confirmed that it has raised USD 500m in order to buy more bitcoin (BTC). They would spend USD 488m of this sum on BTC. The company said that it now owns approximately BTC 92,079 (USD 3.75bn) that are being held by a newly formed subsidiary, MacroStrategy LLC. 81% of surveyed investors (3,671 in total) are more bu...

Blog • 14 June 2021, Monday, 12:00

UK Farmers Use Cow Dung to Power Ethereum Mining, Boost Revenues

With the debate on crypto mining’s energy use increasingly involving renewable sources, a rising number of UK farmers are reaching for a surprising reservoir of power - cow waste, aka dung - using this traditional, multipurpose resource to generate electricity for carbon-neutral crypto mining operations, therefore to diversify and up their revenues. Currently, a share of the country’s farmers produce electricity from manure and sell it to the National Grid, the company that operates the high-vol...

Blog • 14 June 2021, Monday, 10:00

No Crypto in G7 Wrap-up, but Traders, Miners Will Still Want to Take Note

The G7 summit in Cornwall has concluded without tackling issues directly related to cryptoassets or central bank digital currencies (CBDCs) – although the crypto community will be looking closely into what agreements on “tax cooperation” and climate pledges could mean for traders and miners alike. The summit – the first in-person meeting of world leaders since the start of the coronavirus pandemic – wrapped up over the weekend in St. Ives, and saw leaders from all seven G7 take part, alongside t...

Blog • 14 June 2021, Monday, 06:00

Bitcoin Eyes USD 40K Amid Musk Statement, Taproot Confirmation

The most popular cryptocurrency, bitcoin (BTC), almost touched USD 40,000 today as Tesla's Elon Musk send a positive message, while activation of an important Bitcoin upgrade was confirmed. Monday morning (UTC time), BTC surpassed USD 39,800 before correcting lower. At 03:31 UTC, it trades at USD 38,952 and is up by 11% in a day and almost 9% in a week, trimming its monthly losses to less than 22%. BTC is the best performing major cryptoasset today, as other tokens from the top 10 list are...

Blog • 13 June 2021, Sunday, 14:00

The hypocrisy of G7: Criticise Bitcoin Mining but Protect Fossil Fuel Industry

George Ferns, Lecturer in Management, Employment and Organisation, Cardiff University, Marcus Gomes, Lecturer in Organisation Studies and Sustainability, Cardiff University. __ The climate crisis is certain to be a hot topic at the G7 summit in Cornwall. While the leaders of the world’s richest countries agree in theory on the need to reach net zero emissions by 2050 at the latest, they remain faithful to a fossil fuel industry reluctant to substantively change its business model. A recent repor...

Blog • 13 June 2021, Sunday, 12:00

DeFi Has Had a Strong 2021, Driven By New Trends & Paradigms

The decentralized finance (DeFi) sector had a massive 2020, and while non-fungible tokens (NFTs) and the crypto bull market may have overshadowed it so far in 2021, its performance this year has been at least as strong. Total value locked (TVL) into Ethereum (ETH)-based DeFi platforms hit a peak of USD 86bn on May 12 (per DeFi Pulse data), while TVL for DeFi services on Binance Smart Chain (BSC) rose to USD 53bn two days earlier, highlighting the wild growth the sector experienced during the fi...

Blog • 12 June 2021, Saturday, 14:00

El Bitcoin, Supportive Lawmakers, FUDy Seizures and 20 Crypto Jokes

What a week! The El Salvador President unveiled plans to give bitcoin the status of legal tender, and quickly the news shook the Cryptoverse that that will indeed officially happen in just 90 days, with lawmakers across Latin America expressing their support for bitcoin adoption, including the Ecuadorian Vice Minister of Economic Inclusion - with all this raising some existential BTC questions. Meanwhile, the Cryptoverse went fighting some major FUD after millions is BTC was seized, and after a ...

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