The rise of cryptocurrencies over the past few months, especially with the onset of 2021, has certainly catapulted the crypto niche into the mainstream. While traders buy and sell and try to calculate how much this or that currency has grown by and as large investment funds predict that Bitcoin (BTC) will soon reach $100,000 per coin, big things are also happening in the crypto mining space. Miners in the largest pool, F2Pool, reportedly contributed to the recent fall of BTC price and then to its subsequent recovery, while individual miners from the United States and France are even heating …

Foundry, a wholly owned cryptocurrency mining subsidiary of Digital Currency Group, or DCG, has entered the top 10 largest Bitcoin (BTC) mining pools in the world. The firm's CEO, Barry Silbert, announced the news on Tuesday, predicting that Foundry will soon break into the top five mining pools list. At publishing time, Foundry has a total hash rate of 2.74 exahashes per second, according to data from block explorer BTC.com. The mining pool is responsible for 1.85% of the total global hash rate. The news comes shortly after Silbert announced that global Bitcoin miners will be able to join the …

Crypto enthusiast Simon Byrne has taken crypto mining out of the garage and onto the road after installing a small farm in the trunk of his car. According to a report from Hardware Times, Byrne purchased a BMV i8 hybrid vehicle retailing for roughly $150,000 and equipped it with a small crypto mining rig consisting of six GeForce RTX 3080 graphics cards. The rig is powered by an ASUS B250 Mining Expert board and an EVGA SuperNOVA 1600 T2 power supply. It is reportedly capable of mining both Bitcoin (BTC) and Ether (ETH). The Nevada-based HODLer — as his license …

Bitcoin arouses passion, curiosity and has received more and more media attention, especially after having climbed the ranks of the best financial asset of the decade. However, whenever its price goes up, many doubts and questions arise, mainly around its origin and the energy expenditure by miners. The Bitcoin protocol has created a unique digital asset To understand how Bitcoin (BTC) is created and what mining is, the key is the double-spending problem. Before Bitcoin, there was neither a digital value to be transferred nor a digital asset to be divided into several parts. That is, if you scanned a …

As blackouts and police raids roil the upstart Iranian Bitcoin mining industry, a match between a permissionless currency and a country throttled by inflation that once seemed like a perfect fit is now being called into question. As Cointelegraph has previously reported, Iran joins Pakistan as a cryptocurrency superpower in the Middle East, owing in part due to cheap, heavily subsidized electricity prices, as well as a boost in activity following an approval of Bitcoin mining as an “industrial activity” for power plants in 2020. It’s been estimated that there are well over 1000 legal entities currently engaged in mining …

A chip shortage is significantly affecting the Bitcoin mining hardware distribution chain, according to Reuters on Friday. Indeed, Bitmain — one of the major Bitcoin miner makers — has seen its inventory sold out until August 2021, according to information on its website. Apart from being out of stock, Bitmain’s mining rigs are now at a massive price premium. For instance, back in November 2020, the Antminer S19 shipped for $1,897 per unit. As of the time of writing, the same miner is priced at $2,767 on the company’s website — a 45% markup. Speaking to Reuters, Alex Ao, vice …

Bit Digital, a Bitcoin mining company traded on the Nasdaq stock exchange, is the subject of a class-action lawsuit that alleges the company fabricated the extent of its Bitcoin (BTC) mining operations. According to the lawsuit, which was filed in the Southern District of New York court on Wednesday by plaintiff Anthony Pauwels, Bit Digital misled investors and made materially false claims about the extent of its Bitcoin mining business, causing significant financial harm for investors. Specifically, the plaintiff references an investigative report by J Capital Research that claims Bit Digital simply lied about having Bitcoin mining farms in operation …

Anonymous cryptocurrency Firo — formerly known as Zcoin— is the latest Proof-of-Work coin to suffer a 51% attack. Tweeting on Wednesday, Firo revealed that the protocol had come under a 51% attack and advised holders to pause all transactions until the network returns to a normal state. We are under 51% attack at the moment. We recommend not to make transactions during this time until the network returns to a normal state. We will post updates when we have them. Note this is not a coding error but a nature of PoW. $XZC $FIRO — Firo (formerly Zcoin) (@firoorg) January …

Bitcoiners mining cryptocurrency at home this winter have been staving off freezing temperatures by putting them to good use as heaters. According to the Wall Street Journal, crypto miners in France and the United States report their overall heating costs have dropped — even if the temperature in their homes often gets far above what they’d prefer. Thomas Smith, a photographer based in California, has been using mining rigs to heat his home since at least 2019. He’s also been exploring some novel uses, including employing the miners to warm up his two chickens in an outdoor coop and to …

It is especially important for countries to become more aware of cryptocurrencies, especially with components like decentralized finance rising in prominence. Now that the Middle East is becoming more mining-friendly, the future suddenly looks bright once again for this region. Pakistani administration legalizes crypto mining The Pakistani government appears to be moving quickly toward a pro-crypto stance. Following a commitment to integrate Bitcoin (BTC) into its financial system last December, the country is taking steps to legalize mining. Sumera Shams, a member of the provincial assembly in Khyber Pakhtunkhwa, announced on Twitter that the body had voted to pass a …

Bitcoin (BTC) is still at the “low end” of a 2021 bubble, new data tracking miner and investor behavior suggests. In the latest signal that BTC price action still has major growth potential, researcher Geert Jan Cap showed bullish signs coming from Bitcoin’s thermocap. Thermocap suggests Bitcoin just getting started Thermocap is a metric which aims to track Bitcoin price cycles based on actions taken by miners and investors with regards to buying and selling BTC. It employs the so-called thermocap multiple, which divides the Bitcoin price on a certain day by the cumulative block subsidy, or all rewards earned …

Gaming hardware giant Nvidia has addressed the ongoing shortage of its new RTX 3000 product line after high demand from gamers, and to a lesser extent, cryptocurrency miners, pushed up prices and cut availability. Nvidia chief financial officer Colette Kress said the company didn’t have good visibility into how much demand came solely from cryptocurrency miners, but she doesn’t believe it’s a big part of the business at this time. That’s despite reports of some Ether (ETH) miners constructing rigs comprised of 78 of Nvidia’s Geforce RTX 3080 graphics cards, estimated to net their owner profits of $122,000 per year. …