Earlier this year, the Chinese government took the momentous step to ban any crypto mining operations based within its borders, causing a massive exodus of hashing power — 168 exa hashes per second (EH/s) to nearly 86 EH/s as of June 23, representing a drop of nearly 40% — from China to surrounding countries. As a quick refresher, the hash rate refers to the total computational power needed to acquire a single Bitcoin (BTC). In other words, one can say that while central banks issue fiat currencies, miners are provided with new Bitcoin for solving pieces of complex mathematical code …

Seychelles-based crypto exchange KuCoin is launching a mining pool aimed at providing revenue to proof-of-work miners after integrating their rigs. In a Wednesday announcement, the exchange said its KuCoin Pool product would allow miners around the world to contribute to the Bitcoin (BTC) and Bitcoin Cash (BCH) and share rewards. At the moment, miners are required to install and run the necessary hardware themselves to join the pool, but KuCoin said it would introduce mining in the cloud in the future. KuCoin CEO Johnny Lyu also claimed the pool would be encouraging miners to participate in environmentally-friendly solutions — people …

The team behind mining software NBMiner claims to have partially cracked Nvidia’s anti-mining limitations. Back in June Nvidia implemented an algorithm called Lite Hash Rate, or LHR, on all graphics cards from its RTX 30 series in an attempt to curb crypto mining. The limiter works on both the BIOS and driver level detecting mining algorithms to drastically reduce its mining power by up to 50% of its original capability. At the time, the company claimed that miners were disrupting its supply chain, consequently increasing the price of its graphics cards due to low supply. Nvidia prioritized its gaming user …

Bitcoin’s (BTC) rapid recovery above $46,000 has renewed calls for a $100,000 BTC price by the end of 2021, while the effects of China’s crackdown on the mining industry are slowly beginning to fade as the Bitcoin network hash rate shows signs of recovery. One of the side benefits of China’s crackdown is that it has lowered the barriers of entry into the Bitcoin mining space, which has been shown to provide profits in both bull and bear markets. Bitcoin mining is one of the few ways that investors can acquire BTC without directly purchasing it from the market, and …

Shenzhen-based crypto mining firm, Bit Mining, is raising $50 million to fund an expansion out of the Chinese market. Announced on July 12, the firm has entered into an agreement with select institutional and accredited investors to raise $50 million through a private placement. Bit Mining is raising the funds in response to the Chinese Communist Party’s crackdown on crypto mining in May, noting plans to “acquire additional mining machines, build new data centers,” and expand its infrastructure overseas. US$50 Million Private Placement! Ready for greater expansion! — BIT Mining Limited (@BITMining_BTCM) July 13, 2021 Bit Mining is owned by …

Following its approval for a Nasdaq listing, Canadian Hive Blockchain Technologies has bought more than 3,000 Bitcoin (BTC) mining rigs to get involved in the Bitcoin mining shift from East to West. Purchased from Digital Currency Group subsidiary Foundry Digital LLC, the 3,019 MicroBT M30S miners acquired as part of the deal are already located at Hive’s facilities in Lachute, Quebec and Grand Falls, New Brunswick. Foundry will be issued cash and 1.5 million warrants of Hive, according to an official announcement. Hive’s new hash power will join the Foundry USA Pool, which includes Blockcap, Hut 8, Bitfarms and Foundry …

China, once home to about 65% of the total Bitcoin (BTC) mining hash power, has given the boot to several miners in the country. The country’s Bitcoin mining ban means miners have been forced to shut down their operations with some establishments already moving hardware overseas. Tweeting on Wednesday, Kevin Zhang, vice president of crypto mining advisory outfit Foundry, said the mood among Chinese miners has grown sour, adding: “Sentiment is obviously quite dreary and the reality is setting in that it’s GG for mining in China. Some mining friends have stuck around Sichuan since the Bitmain conference to drink …

Cryptocurrency investors awoke to another round of price declines on June 22 after the price of Bitcoin (BTC) dropped to a 6-month low at $28,805. The dip below the crucial $30,000 level might appear to be a prime buying opportunity but data shows that institutional investors are continuing their longest selling streak since February 2018. Data from Cointelegraph Markets Pro and TradingView shows the June 21 dip below $32,000 and recovery above $33,000 was just a precursor to Tuesday’s move which saw BTC hammered at the start of the trading day, reaching a low of $28,805 before bouncing back to …

BTC.com — a major crypto mining pool that is operated by BIT Mining and owned by the NYSE-listed Chinese lottery service provider 500.com — has announced the successful relocation of its first batch of mining machines to Kazakhstan. BTC.com was founded by Jihan Wu and was operated by Bitmain and Bitdeer until its acquisition by 500.com this February. As of the time of writing, the pool is the world’s fifth-largest, validating 10.4% of blocks on the Bitcoin blockchain. The relocation comes after the company was notified by the state grid in western Sichuan province that the power supply serving one …

The Taproot upgrade has achieved the first significant milestone on the road to activation as 90% of the Bitcoin (BTC) mining hash rate signaled for the protocol improvement within the current difficulty epoch. Data from Taproot.watch, a webpage created by Bitcoin developer Hampus Sjöberg, shows the lock-in stage is now completed. All recognized mining pools signaled for the upgrade with Slush Pool being the first to do so. It is perhaps fitting that Slush Pool also mined block 687285 that sealed the Taproot lock-in. TAPROOT LOCKED IN AT BLOCK 687285 BY SLUSHPOOL pic.twitter.com/FFDdibtmGt — pourteaux (@pourteaux) June 12, 2021 AntPool …

As is par for the course for Bitcoin (BTC), El Salvador becoming the first nation-state to adopt the cryptocurrency as legal tender is now immortalized on the blockchain. Data from blockchain explorer service Blockchair shows block 686,938 bearing the message “asamblea aprueba la ley bitcoin” — meaning "assembly approves Bitcoin law" — which is the front-page headline carried by El Salvadoran daily Diario El Salvador on Wednesday. Esta es la portada de #DiarioElSalvador de este miércoles 9 de junio del 2021. #DiarioES #DES pic.twitter.com/D2tgNG2TPK — Diario El Salvador (@elsalvador) June 9, 2021 Poolin, the third-largest Bitcoin mining pool by hash …

Edward Evenson, head of business development at Slush Pool owner Braiins, reported that a large number of Chinese Bitcoin (BTC) mining machines equivalent to Quebec’s entire output will be moving to North America and Europe. For those interested in the #Bitcoin mining news coming out of China I’ve had 300-400MW of mining machines contact me to help them distribute their machines across NA and some parts of EU. Some have also begun shipping machines to Kazakhstan. — Edward Evenson (@WillHash4Coins) May 27, 2021 In a Twitter thread on Friday, Evenson revealed that some Chinese BTC miners also have their eyes …