A crypto mining startup wanting to challenge the big guns appears to be just a scam

A new company emerged recently, promising to revolutionize cryptocurrency mining. OnMiners, based in Luxembourg, touted a new generation of mining rigs that use endothermic chips to lower energy consumption and lower mining costs. Chips capable of helping mining operations would be welcome by virtually the entire community if they were cost-effective and efficient, but it…

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BetterHash Can Improve Bitcoin Mining Decentralization, But When?

The level of centralization in mining is one of the more credible problems with Bitcoin today. While there has not been much activity in terms of actual attacks made possible through mining centralization (although some would refer to SegWit2x as an attack), it does add questions to the level of security offered by various layer-two…

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Monero Protocol Upgrade Thwarts all Current ASIC Mining Attempts

Any finance-oriented industry will need to undergo constant development, changes, and face new competitors. In the cryptocurrency world, that situation is no different, although things are done a bit differently. Monero, one of the more popular altcoins, has undergone another major fork, which makes the project further ASIC-resistant and privacy-oriented.  The trade-off is how its…

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Crypto mining recovery emerges amid expectations of cheaper energy

Crypto mining companies have been amongst the most heavily hit by the collapse in Bitcoin Core (BTC) prices. But following some 18 months of challenging trading, some indicators are now showing outlook for the sector turning more positive. A report in digital assets journal Diar noted that while miner revenues had fallen to fresh lows…

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Ethereum Fees: $300k is Charged for Sending $14 ETH

Ethereum (ETH), the second bull cryptocurrency after Bitcoin, has a massive number of users but one of them is drawing out another mortgage following a charge of more than 2100 ETH in an attempt to send someone $14 worth of ETH. This fee is abnormal and appears as if it was a mistake, but the…

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Bitmain Gets Down With Energy-Efficient ASIC Mining

The mining giant has a new ASIC chip. Will it help the company turn its fortunes around? Bitmain Technologies Ltd. today announced the BM1397, a 7-nanometer ASIC chip for proof-of-work mining. The new chip, made with the Taiwan Semiconductor Manufacturing Company’s FinFET process, reportedly uses less power, with a 28.6 percent improvement in energy efficiency…

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Discover Trade Mining on The CODEX Exchange

In pursuit of new ways to ensure high-yielding opportunities for today’s cryptocurrency traders, the CODEX exchange has embarked upon a rather promising solution, called Trade Mining. Also known as Transaction Fee Mining, it is pretty much an unworn approach to the platform’s native token distribution, established to reward active users for trading on selected markets…

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Germany: Suspects Arrested for Stealing Electricity in Crypto Mining Operation

In the German city of Klingenthal, Saxony, police have arrested a group of suspects for stealing electricity to operate a cryptocurrency mining farm, Cointelegraph auf Deutsch reports Feb. 6. Police officers reportedly tracked down a system of 49 computers operating in the premises of former electrical services company PGH Elektro. Since at least 2017, the…

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HashFlare Review: Introduction to the Cloud Mining Platform

What is HashFlare? HashFlare is a cloud mining platform established in 2015 by HashCoins, a crypto and tech-based firm headquartered in Tallinn, Estonia. By June 2015, Hashflare had well over ten thousand users mining Bitcoin. The site reportedly had at some point a team page, but now it seems that HashFlare has apparently taken it…

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Best Ethereum Cloud Mining Sites for 2019

Why Mine Ethereum? Ethereum is one of the top cryptocurrencies that are in circulation today. Its platform is most of the ICO projects out there and developers for dApp and smart contract deployment. But there are a few things you should take into consideration if you intend on mining Ether: Computational power Number of hardware…

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IBM's Blockchain Network to Test the Soil of Mining Supply Chain Makeover

IBM and Minehub Technologies have collaborated in a bid to use distributed ledger technology (DLT) to improve operational and cost efficiencies in the mineral concentrates supply chain, according to a press release on January 16, 2019. Mining Supply Chain Gets an Update As stated in the press release, significant players in the mining industry, including…

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Bitmain Suspends Texas Mining Operations

Bitmain’s woes continue with layoffs and a muddled suspension that leaves behind a skeleton crew. The mining giant Bitmain has suspended operations at its mining facility in Rockdale, Texas, according to a report from Texas Public Radio. When (and if) Bitmain will resume mining activities is up in the air. Bitmain announced the Rockdale mining…

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Distributed Digest: Tuesday, January 8, 2019

Steemit.com blocks hackers for violating its terms of service, Coin Metrics research shows a significant decline among major Bitcoin mining pools, and the Status desktop alpha is out in the wild. Your daily distillation of crypto news for Tuesday, January 8, 2019: Steemit.com Resists “The Dark Overlord” The Steem social media site, Steemit.com, recently banned…

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Hive Criticizes Norwegian Government Amid Concession Cuts to Miners

Hive Blockchain Technologies has published an update regarding the company’s response to the Norwegian Parliament’s recent approval of a legislative bill that will restrict cryptocurrency miners from accessing the tax relief on electricity consumption available to other power-intensive industries. The release criticizes the government’s “unilateral” move to suspend the subsidy without consulting with representatives of…

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Government of Abkhazia Cuts Off Power to 15 Cryptocurrency Mining Facilities

The government of the Republic of Abkhazia has cut power to some cryptocurrency mining farms due to electricity concerns, state electric utility Chernomorenergo RUE announced in a Facebook post on Dec. 31. Per the announcement, Chernomorenergo cut power to 15 facilities with a total capacity of 8,950 kilowatt-hours (kWh), which is purportedly equivalent to the…

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Two Mining Companies Among Georgia’s Major Electricity Consumers

Two companies mining cryptocurrencies have topped a list of the largest consumers of electricity in Georgia. In this crypto-friendly nation, however, that’s not necessarily a sin or a disadvantage. Energy-intensive enterprises in the Caucasian country purchase the power they need at wholesale prices. Also read: Huobi and Major Russian Bank to Provide Legal Help to…

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Litigation Firm Files Lawsuit Against Nvidia for Statements Regarding Crypto

Shall Law Firm, an American shareholder rights litigation firm, has announced the filing of a class action lawsuit against Nvidia with regards to statements pertaining to the company’s outlook regarding the effect that declining cryptocurrency prices could have on the performance of its shares. Also Read: Bitcoin Whales and the Rise of Crypto-Fueled OTC Desks in…

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Learn About the BCH Network With Bitcoin.com's 'Mastering Bitcoin Cash'

At Bitcoin.com, our web portal hosts a developer section aimed at providing Bitcoin Cash (BCH) developers with the resources and tools to program killer applications using the BCH protocol. The developer.Bitcoin.com section has now added an educational resource for newcomers and veterans called Mastering Bitcoin Cash. The documentation offers a comprehensive overview of BCH basics…

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Chatter Report: Zhuoer Claims BSV Block Created ‘Accidentally’, Falkvinge Likens Code Review to ‘Legislation’

In today’s chatter report, Calvin Ayre eagerly welcomes Jiang Zhuoer to mine on BSV but then quickly changes his mind. Zhuoer reveals that btc.top created a BSV block by accident and Rick Falkvinge calls for code changes to be reviewed in the same manner as legislation.  Also Read: Linkedin Names ‘Blockchain Developer’ Top Emerging US…

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CryptoMining: Cheap Electricity in Iran Attracts Massive Foreign Bitcoin Miners

As very many bitcoin miners in the world have attempted to close down their mining equipment, other miners are doing everything possible to find alternative means of surviving. Iran has come out to attract overseas miners because of its $0.006 cost for each kilowatt consumed in one hour. This makes it one of the low-cost…

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