The two founders of the now-defunct Bitcoin cloud miner HashFlare have been arrested in Estonia over their alleged involvement in a $575 million crypto fraud conspiracy. HashFlare was a cloud mining company created in 2015, which purported to allow customers to lease the company's hashing power in order to mine cryptocurrencies and gain an equivalent share of its profits. The company was seen as one of the leading names in the business at the time, but shut down its mining operations in Jul. 2018. However, according to a statement from the United States Department of Justice citing court document, the …

The views expressed here are the author’s own and do not necessarily represent the views of Cointelegraph.com. Cloud mining — a service that enables individual users to lease hashing power from dedicated cryptocurrency mining operations — came forth as professionalization and cartelization of the mining business began to drive out smaller and insufficiently equipped players from the scene. Since there is no way to verify that the share of the mining rig you are supposedly leasing actually exists — even if returns on your investment seem to be flowing regularly at first — the scheme is widely regarded as a …

Mining software companies try to reduce costs of Bitcoin mining meeting the challenge brought about by the cutting in half of the block rewards. Hashflare has joined the list of Bitcoin mining companies that are working out a way to cut the cost of energy needed for their operations. Energy supply has been a topical issue of late for mining operations particularly around the halving period as it is a great determinant to ensure a lower operational cost and to maximize profit. A report says some of the mining companies in parts of China recently met to discuss how to …

Strictly speaking, we just provided our moral and financial support to it. The members of the expedition, held this year from February 26 to March 8, were journalists of the “Govorit i Pokazyvaet” production studio and BitNovosti web-site, who paid all their travel expenses only with cryptocurrency. The tour started and finished in Moscow, and the team drove through Lithuania, Germany, Netherlands, Czech Republic, Austria, Slovakia, Poland, and Belarus. The farthermost point of the tour was the capital of Netherlands, Amsterdam. The goal of this project was to capture the current state of development of the Bitcoin infrastructure and to …