Mining is the process of extracting valuable minerals, metals and other resources from the earth. This may entail extracting minerals from underground deposits or from the earth’s surface. The minerals and resources extracted through mining are used for a wide range of purposes, including energy production, construction and manufacturing. Mining can take many forms, including underground mining, surface mining and placer mining. The specific method used depends on the type of resource being extracted and the location of the deposit. Moreover, the mining process typically involves several stages, including: Exploration: To locate a deposit. Extraction: To remove the minerals or …

Ethereum bulls have hit back against claims the network has become prone to censorship post-Merge, with one arguing that “not even a single” transaction has been censored on the network. In a 19-part thread to his 29,100 followers on Oct. 17, Cyber Capital founder and CIO Justin Bons argued that contrary to “what some Bitcoiners are falsely claiming,” not a single transaction on Ethereum has been stopped as a result of Office of Foreign Assets Control (OFAC) sanctions. Bons was referring to recent reports suggesting Ethereum has become too reliant on OFAC-compliant Miner Extractable Value (MEV)-Boost relays since the Merge. …

The Bitcoin (BTC) network successfully activated the Taproot soft fork following a 90% lock-in consensus from miners and mining pools between blocks 709,488 and 709,632. The milestone signifies the first major upgrade for Bitcoin since August 2017, which saw the launch of Bitcoin’s leading layer-two solution, the Lightning Network and Segregated Witness (SegWit). The Taproot upgrade aims to improve the scripting capabilities and privacy of the Bitcoin network. To do this, the soft fork introduces the concept of Merkelized Abstract Syntax Tree (MAST). According to a Taproot-dedicated website run by prominent Bitcoin developer Hampus Sjöberg: “[MAST] can help make smart …

Authorities from Russia’s Zavolzhsky district have found a 34-year-old local man guilty of stealing cryptocurrency mining equipment worth more than 1.6 million Russian rubles (nearly $22,000). According to a report shared by the Prosecutor’s Office of the Yaroslavl Region, the state prosecutor confirmed that the Yaroslavl resident was found entering a friend’s garage unlawfully back in February 2021 and stealing their mining equipment that was intended to be used for earning cryptocurrency. The authorities found the Russian man to be guilty of committing a crime, citing large-scale theft of property and illegal entry. In court, the now-convict reportedly admitted to …

It’s been another strong week for Bitcoin. The dollar price is up about 2.5 percent over the week, although that’s still something of a decline from its recent high above $13,400. At one point, Bitcoin fell 4 percent in 24 hours. But bulls remain optimistic and see the price advancing towards $20,000, possibly as early as March. That future price movement will depend on a number of factors, including whether banks follow Paypal into cryptocurrency acceptance; the size of the stimulus expected to counter the new coronavirus outbreak; and the pattern of the hash rate, among other factors. One point …