Mining Blog & Mining News

Mining Blog & Mining News

Bitfarms Signs a Deal That Cuts Bitcoin Mining Power Costs in Half

Blockchain infrastructure company Bitfarms said it has signed a beneficial mining deal in South America, with a lower power cost that they said 'revives' older mining machines and cuts the electricity costs in half. Bitfarms, which provides computing power to cryptocurrency networks such as Bitcoin (BTC) and operates five computing centers in Canada, has signed a non-binding memorandum of understanding with a private energy producer, thanks to which the company will be provided with up ...
Bitfarms Signs a Deal That Cuts Bitcoin Mining Power Costs in Half

Crypto Adoption in India About to Get More Physical + 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 UK-based financial firm Cashaa formed a joint venture with The United Multistate Credit Co. Operative Society, UNICAS, in order to build a crypto-friendly financial institution with 22 physical branches and operations in India. The UNICAS is set to start its operations in Decembers 2020 and expand to over 100 branches by 2022...
Crypto Adoption in India About to Get More Physical + More News

Crypto Listing and Delisting Announcements: Week 43

Here is our weekly collection of digital asset listing and delisting, trading pair-related announcements by crypto exchanges that we found last week and today. Have we missed something? Do you have information about new listings and/or delistings? Let us know here. __ Bibox Listings: RAMP DEFI (RAMP) Loon Network (LOON) Bilaxy Listings: Moonday.finance (MOONDAY) Vox.Finance (VOX) Rake Finance (RAK) BonFi (BNF) BitDEFi (BFi) Patientory (PTOY) ZeroSwapToken (ZEE) yfi.mobi (YFIM) OPES Finance (wPE)...
Crypto Listing and Delisting Announcements: Week 43

ECB Executive Board Member on European Payments in the Digital Age

Speech by Fabio Panetta, Member of the Executive Board of the European Central Bank (ECB), at the ECB Conference "A new horizon for pan-European payments and digital euro." Frankfurt am Main, 22 October 2020. Key points: An uncontrolled change in the payments landscape is dangerous.Three trends are shaping the payments landscape: the role of cash is diminishing;the acceleration towards digital payment is also increasing market fragmentation and complexity;excessive dependency on foreign private...
ECB Executive Board Member on European Payments in the Digital Age

Seoul Unsure Who Takes the Buck for North’s Crypto Raids + 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 The question of who exactly in the South Korean governmental setup is responsible for countering North Korea’s alleged systematic hacking raids on South Korean crypto exchanges has become a political hot potato, reported Fn News. The financial regulator, the Financial Services Commission, has reportedly stated that the matter “not ...
Seoul Unsure Who Takes the Buck for North’s Crypto Raids + More News

Kik’s Prospective Settlement With SEC Boosts KIN’s Value

Following the release of the proposed settlement between the U.S. Securities and Exchange Commission (SEC) and Canadian social media startup Kik Interactive, the latter’s cryptocurrency rallied, spurring optimism over the future of the instant messenger service and its crypto-related activities. According to Coinpaprika.com, Kin (KIN) has jumped close to 77% over a 24-hour period as of pixel time (13:02 UTC), to the price of USD 0.00000984. Furthermore, it went up more than 126% over the course...
Kik’s Prospective Settlement With SEC Boosts KIN’s Value

'Miner Strike is Nonsense, Miners Are Making a Ton' - Filecoin Founder

Juan Benet, the founder of decentralized, blockchain-based storage network Filecoin (FIL), denied recent reports that miners are protesting the platform. "I was asked about a supposed 'Miner Strike' — This is nonsense," tweeted Benet several hours ago. "There is no strike. Miners are proving their storage just fine. There’s been no power loss out of the ordinary in the network. Miners are following the protocol, and making a TON of money doing so." He argued that, if it were possible to...
'Miner Strike is Nonsense, Miners Are Making a Ton' - Filecoin Founder

Filecoin Miners Strike, Protesting 'Chicken & Egg' Problem, FIL Crashes

Decentralized storage network Filecoin experienced its first major issue a day after its long-anticipated launch, as miners decided to go on strike, resulting in an early release of token rewards. Per a 8btc.com October 17 report citing interviewed miners, five of Filecoin's largest miners shut down their machines in order to protest the economic model, because, "today miners actually have a lot of mining machines, but not enough FIL." They've been preparing the machines for a couple of...
Filecoin Miners Strike, Protesting 'Chicken & Egg' Problem, FIL Crashes

BTC Transfers, CBDC Airdrops, Regulatory Warnings and 20 Crypto Jokes

It was a fun crypto week. OKEx suspended withdrawals as they couldn't get in touch with a private key holder. Also, somebody moved Satoshi era 1,000 bitcoin again, Marc van der Chijs told us that hodling bitcoin would've been a better strategy than trying to outperform it, Kraken researchers said that BTC finished its worst-performing month in September, and that higher returns and volatility could be expected in October, and it was debated whether Elon Musk’s Tesla Gigafactory 1 plant w...
BTC Transfers, CBDC Airdrops, Regulatory Warnings and 20 Crypto Jokes

Alchemy Reveals its Ethereum Gas Price Notification Tool

There is a new tool out that notifies its users when the Ethereum (ETH) gas falls within the set price range. Blockchain developer platform Alchemy has announced their new tool called Gas Price Notifications, which "developers can use to alert their users when gas price is optimal for sending transactions," the team behind it said in the announcement. Alchemy checks the ETH Gas Station, a website that provides recommended gas prices, and once the price falls within the specified range, a notif...
Alchemy Reveals its Ethereum Gas Price Notification Tool

Bitcoin Mining Difficulty Set For New Record High + 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. Mining news Bitcoin (BTC) mining difficulty, or the measure of how hard it is to compete for mining rewards, is expected to rise more than 3% during the next adjustment tomorrow, October 17. According to the BTC.com estimates, the mining difficulty will reach a new all-time high of 19.96 T, nearing the never-before seen 20 T, as BTC hashrate, or ...
Bitcoin Mining Difficulty Set For New Record High + More News

OKEx Suspends Withdrawals As Private Key Holder Unavailable

Major crypto exchange OKEx said it had to suspend cryptoasset withdrawals as one of their private key holders "is currently cooperating with a public security bureau in investigations" and the company is "out of touch" with the holder. "We will resume digital assets/cryptocurrencies withdrawals immediately once the concerned private key holder is able to authorize the transaction," OKEx said, promising to announce more details later. The company said that they decided to suspend withdrawals "in...
OKEx Suspends Withdrawals As Private Key Holder Unavailable

VCs Learned Bitcoin & ICO Lesson The Hard Way - Marc van der Chijs

Many venture capitalists (VCs) learned the hard way that just hodling bitcoin (BTC) would have been a better strategy than trying to outperform it, Marc van der Chijs, entrepreneur, crypto-focused venture capitalist, said in an interview with Cryptonews.com. However, according to him, while "bitcoin will be the main player in the crypto space for a long time to come," there is also value in some other tokens and blockchains. The co-founder of VC firm First Block Capital (FBC) said that this comp...
VCs Learned Bitcoin & ICO Lesson The Hard Way - Marc van der Chijs

Airbnb For Data, Filecoin, Begins Space Wars With Google Cloud

Decentralized storage network Filecoin launches its long-awaited mainnet today, creating a reason to look back at what it is and why it's relevant. Filecoin is one of the top initial coin offerings (ICOs) of 2017. When its ICO ended in September, 1 FIL token was worth USD 5, after having raised a grand total of USD 257 million. Meanwhile, after Gate.io released early trading in FIL, its price hit USD 160 today. As to what Filecoin is and wherein lies its relevance, the team behind the projec...
Airbnb For Data, Filecoin, Begins Space Wars With Google Cloud

Former Gulag in Russian Arctic Bids to Become Bitcoin Mining Hotspot

A Russian firm is set to open a hotel with a difference in the Arctic Circle – although it isn’t the kind most folks would ever dream of visiting. Instead it’s a crypto mining “hotel” fitted with ASIC bitcoin (BTC) mining rigs and powered with 11.2 MW of electrical energy. In a uniquely crypto-themed twist, the Norilsk-based “hotel” will be housed in facilities owned and formerly operated by Norilsk Nickel, a company (fronted by Russia’s richest man Vladimir Potanin) that is working on the launc...
Former Gulag in Russian Arctic Bids to Become Bitcoin Mining Hotspot

Grayscale Scores New Billion, Bitfury Goes Nuclear, Gate.io Launches Wallet + 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 major crypto investment company Grayscale said it recorded its largest-ever quarterly inflows, over USD 1bn in 3Q20, making it the third consecutive record-breaking quarter. Also, Grayscale Bitcoin Trust experienced USD 719.3m in 3Q20 inflows, while other products accounted for 31% of inflows during 3Q20. Among alternati...
Grayscale Scores New Billion, Bitfury Goes Nuclear, Gate.io Launches Wallet + More News

Russian Central Bank Wants to Cap Bitcoin Buying at USD 7,800 a Year

Once again, Russia has a worrying idea for the local crypto industry and users as Russia’s Central Bank announced a new proposal that would seek to place an annual cap of around USD 7,800 (BTC 0.68) on crypto purchases for everyone in the country barring accredited investors. In an official release, the Central Bank proposed that the new cap should come into effect from January 1, 2021, when the nation’s very first crypto-related law is promulgated. Moscow-based crypto investment advisor Dmitriy...
Russian Central Bank Wants to Cap Bitcoin Buying at USD 7,800 a Year

Ethereum is a Casino

Lane Retting is the core team member at the Spacemesh cryptocurrency project and a former Ethereum core developer. _ Ethereum (ETH) is rapidly becoming a decentralized finance (DeFi) network, and DeFi feels quite similar to traditional finance in important ways. What does this mean for the network, the community, and the future of Ethereum? The rise of DeFi I remember clearly when, a year or two ago, the Ethereum community collectively made fun of the fact that most applications built on the nas...
Ethereum is a Casino

DeFi Governance Tokens Face Three Challenges

DeFi hasn’t always been particularly decentralized, with many of the major platforms and projects beginning with core teams who controlled their initial development. It seems that this has somewhat changed in recent months, with the rapid ascent of DeFi almost forcing the ecosystem to introduce governance tokens as a means of decentralization. Governance tokens are popular, but industry players speaking to Cryptonews.com warned they come with a number of problems that will have to be solved ove...
DeFi Governance Tokens Face Three Challenges

USD 36m in Stolen Bitfinex Bitcoin Moved, Botched BTC ATM Theft + 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. Crime news Almost USD 36m worth of bitcoin (BTC) associated with the massive 2016 hack of crypto exchange Bitfinex was moved across elven transactions on Wednesday and Thursday, according to blockchain tracker bot Whale Alert. Two suspects attempted a break-and-enter of a longstanding L&D Meats and Deli in the Canadian city of Kelowna, leaving it...
USD 36m in Stolen Bitfinex Bitcoin Moved, Botched BTC ATM Theft + More News

Kaspersky Leaves Ethereum For Bitfury, Kuna.io Defends Protesters + 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. Blockchain news The Russian software giant Kaspersky Lab said that it has migrated its Polys blockchain-powered voting solution to a private network built on Bitfury’s Exonum blockchain network. Per CNews, the software firm had previously been using an Ethereum-based blockchain network. However, Kaspersky said that the Exonum-based platform is mu...
Kaspersky Leaves Ethereum For Bitfury, Kuna.io Defends Protesters + More News

SBI Takes Over TaoTao Exchange That Just Ditched Binance

One of Japan’s biggest financial companies, the SBI Group, has made a major move in the domestic market, snapping up a controlling stake in the TaoTao crypto exchange from Yahoo Japan. The size of the deal was not disclosed, but TaoTao (previously known as BitARG prior to Yahoo Japan’s involvement) confirmed in a press release that SBI had acquired all of Yahoo Japan operator Z Holdings’ shares in the exchange – while Japanese media reports are claiming that TaoTao has become an official SBI “su...
SBI Takes Over TaoTao Exchange That Just Ditched Binance

New Crypto Ban, New Index, Litecoin's MimbleWimble Testnet + 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. Regulation news In the UK, the Financial Conduct Authority (FCA) banned the sale of derivatives and exchange-traded notes (ETNs) that reference certain types of cryptoassets to retail consumers. The FCA said it considers these products to be ill-suited for retail consumers due to the harm they pose and these products cannot be reliably valued by ...
New Crypto Ban, New Index, Litecoin's MimbleWimble Testnet + More News

DeFi Darling yearn.finance Crashes 60% From ATH, Analysts Still Optimistic

Known as one of the hottest decentralized finance (DeFi) tokens of the year, yearn.finance’s YFI token is now down by close to 60% from its all-time high just over three weeks ago. At the time of writing (11:50 UTC), YFI was down by 6% over the past 24 hours, and down by just over 31% over the past 7 days, trading at USD 17,990. The losses seen over the past week made the token the second biggest loser among the top 100 cryptoassets by market capitalization over the period, following closely be...
DeFi Darling yearn.finance Crashes 60% From ATH, Analysts Still Optimistic

Bitcoin Handout, Mining Difficulty, Estonian CBDC Research + 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 Blockchain advocacy group Chamber of Digital Commerce Political Action Committee (PAC) will be contributing USD 50 worth of bitcoin (BTC) to the campaign of each member of the US Congress in a bid to raise awareness about cryptocurrencies, and to give congresspeople a chance to interact with blockchain technology and digital ...
Bitcoin Handout, Mining Difficulty, Estonian CBDC Research + More News

Vitalik Buterin Says High Ethereum Fees Might Be Gone Even Before ETH 2.0

Ethereum (ETH) Co-founder Vitalik Buterin brought his new proposal to the table that could make high fees on the network a thing of the past sooner than initially expected. Summarising his ETHOnline Kickoff Summit presentation last Friday, Buterin wrote in a Twitter thread today that his proposal for Ethereum 2.0 is "not "rollups instead of sharding", it's "rollups on top of sharding." Rollup is a scaling technique that keeps transaction data on-chain, in a compressed form, but the computa...
Vitalik Buterin Says High Ethereum Fees Might Be Gone Even Before ETH 2.0

What And How ‘Slow’ Bitcoin Wins In The Storm Of Crypto Innovations

Crypto is one of the most innovative and groundbreaking technological developments to have occurred in recent history. The question is: is crypto still innovative, and are new cryptoasset platforms being increasingly expected to provide significant technical improvements over their predecessors? According to experts speaking to Cryptonews.com, some people are always on the lookout for the next ‘big thing’ in crypto, with many of these people motivated more by financial speculation than any speci...
What And How ‘Slow’ Bitcoin Wins In The Storm Of Crypto Innovations

Venezuela Wants to get into DeFi with Ethereum-powered Stock Exchange

Not content with its plans to use bitcoin (BTC), altcoins and its own state-issued petro (PTR) coin in international trade deals, the Nicolás Maduro-fronted government of Venezuela now appears ready to take the plunge into the world of DeFi. Well, sort of. The Venezuelan National Superintendency of Securities (known locally as SUNAVAL), the state securities regulator, has announced the launch of a pilot for the Decentralized Stock Exchange of Venezuela, which call itself the “world’s first decen...
Venezuela Wants to get into DeFi with Ethereum-powered Stock Exchange

Ethereum Miners Collected 6 Times More Fees Than Bitcoin Miners + 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. Mining news Ethereum (ETH) miners made a total of USD 166m from transaction fees in September, which is a new all-time high, as well as an increase of 47% compared to the previous record high in August, said on-chain analysis firm Glassnode. In comparison, they added, Bitcoin (BTC) miners made USD 26m from fees, which is a difference of more than...
Ethereum Miners Collected 6 Times More Fees Than Bitcoin Miners + More News

Maduro to Allow Use of ‘All Global Cryptos’ in International Trade Deals

Venezuelan President Nicolás Maduro has spoken about a new bill that proposes to legalize the use of crypto in international trade deals – as a means of circumnavigating crippling economic sanctions placed upon the country by the USA and its international allies. The Venezuelan political chief stated that his plan involved making further use of the petro (PTR), the regime-issued token. Per Tass and Infobae, Maduro made a televised speech, proposing a new bill aimed at “stimulating the use of pet...
Maduro to Allow Use of ‘All Global Cryptos’ in International Trade Deals
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