Miner Archives | Digital Money Times

Bitcoin Miner Recounts Struggle to Obtain Cheap Iranian Power

April 12, 2019 By Mark Lyford Leave a Comment

Over the last six months, reports of Chinese miners crossing the border to obtain cheap electricity from regions like Vietnam, Cambodia, Thailand, and Iran have abounded. According to a recent interview, Chinese miners have found extremely affordable electric prices ($ 0.006 per kilowatt-hour) in the oil-rich nation of Iran. However, managing to get thousands of machines over the Iranian border has proven to be far more difficult.

Also read: Last Will Platform Allows Your Loved Ones to Inherit Your BCH Read more...

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Bitcoin Miner Maker Canaan Considering New York IPO: Report

January 8, 2019 By Mark Lyford Leave a Comment

China-based Canaan, the second largest manufacturer of bitcoin mining devices, is considering an IPO in the U.S., according to Bloomberg.
CoinDesk

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Bitcoin Miner Raked in $14.5 Million in Crypto Using $3 Million in Stolen Electricity: Police

December 27, 2018 By Mark Lyford Leave a Comment

A bitcoin miner in Taiwan was arrested and charged for mining 100 million yuan (roughly $ 14.5 million) in crypto using NT$ 100 million (or $ 3.2 million) in stolen electricity. The man, whose surname is Yang, is accused of operating 17 illegal cryptocurrency mining centers using fake storefronts across Taiwan. The bootleg mines were located in the

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Chinese Crypto Miner to Launch Remittance-Friendly Digital Peso in Philippines in H1 2019

November 30, 2018 By Mark Lyford Leave a Comment

Huaren Capital had entered the Philippines’ business territory to expand its crypto mining business. But the Chinese firm has found another purpose on the sideways. The crypto giant plans to launch a digitized version of Philippino Peso called “Digital Peso” in the first half of 2019, reported Inquirer. The coin, whose per unit value would

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Chatter Report: Buy Walls, Miner Anonymity and Bitcoin vs. the State

November 29, 2018 By Mark Lyford Leave a Comment

In today’s edition of Chatter Report, crypto influencers debate the importance of buy walls to support crypto prices, reason for and against miner anonymity and ponder the outcome of governments attacking bitcoin.

Also read: Markets Update: Bull Trap or Reversal? Traders Question the Recent Crypto Spike

Hodlers of Last Resort and Buy Walls

Early bitcoin adopter and investor in Kraken, Trace Mayer, argues that crypto market capitalizations are important, but not as important as the hodlers of last resort and “buy support.” Mayer reasons that the combination of investors who don’t panic sell their coins and buy orders that are reflected in order books are what keep crypto prices from sliding further down. Read more...

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Coinbase-Backed Startup Launches $799 PoW/PoS Crypto Miner

November 19, 2018 By Mark Lyford Leave a Comment

Coinbase-backed startup company Coinmine has unveiled its first product, Coinmine One, which is now available for pre-order for $ 799. The Coinmine One currently supports Ethereum (ETH), Ethereum Classic (ETC), Monero (XMR), and Zcash (ZEC) mining. The whole process is controlled with a smartphone app and the company notes that it will release regular updates to the miner’s […]
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Google CEO Sundar Pichai Says His Son is an Ethereum Miner

November 3, 2018 By Mark Lyford Leave a Comment

Google co-founder Sergey Brin and CEO Sundar Pichai have a lot more in common than just their jobs. Both tech billionaires have crypto-savvy young sons who mine ethereum. Pichai said his 11-year-old son mines ethereum on a home computer that Pichai built himself, according to Business Insider. He made the amusing revelation at the New York Times DealBook

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Sia (SC) Outpaces the Market After Announcing an ASIC Miner Block

October 2, 2018 By Mark Lyford Leave a Comment

Sia (SC), a decentralized storage platform secured by blockchain technology that leverages underutilized hard drive capacity, announced this week that it will conduct a hardfork to reset its proof-of-work (PoW) function in order to block third-party ASIC miners, including those made by Innosilicon and Bitmain. 1/4 Big announcement: the Sia core team has decided to reset the Proof-of-Work algorithm […]
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Innosilicon’s Impending ASIC Miner Could Challenge Bitmain’s Dominance

September 21, 2018 By Mark Lyford Leave a Comment

As controversies surrounding Bitmain’s looming IPO spell uncertainty for the future well-being of the mining goliath, competitors are fast to move in on the manufacturer’s territory.

One of these competitors, Innosilicon, now claims to have a new ASIC miner for bitcoin in the works that will outperform any current hardware in speed, profitability and efficiency.

Speaking to Bitcoin Magazine, an Innosilicon representative, who asked to remain anonymous, said its upcoming ASIC, the Terminator3 (T3), “has been in development since February of this year.” Read more...

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New Mining Manufacturer Linzhi Announces Ethereum ASIC Miner

September 15, 2018 By Mark Lyford Leave a Comment

Chen Min, the former chief chip maker at Bitcoin mining chip developer Canaan Creative, is turning her attention to Ethereum. Announcing her venture at the Ethereum Classic Summit in Seoul, South Korea, Chen’s new company, Linzhi, will focus on building cryptocurrency mining devices, and its first official products are a series of application-specific integrated circuit (ASIC) miners designed specifically for Ethereum and Ethereum Classic. Read more...

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Report: Miner Spends Only $1567 per BTC

August 30, 2018 By Mark Lyford Leave a Comment

Electricity is the number one cost for cryptocurrency mining, giving an edge to whoever can secure it for the lowest price. Bitfarms, which has access to cheap renewable energy in Canada, reports that mining a single BTC cost the company just $ 1567 in the first half of the year.

Also Read: The Daily: Huobi Nears Backdoor Listing, Musk Still Loves Scambots Read more...

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Pangolin Miner Claims 16nm ASIC Miner Will Compete With 7nm Machines

August 28, 2018 By Mark Lyford Leave a Comment

Over the last few weeks, we’ve been reporting on the wide variety of new cryptocurrency miners entering the digital asset economy. Some of these newly created miners are bringing faster processing power and more optimized chips, while others have even built mining rigs that tether to a water-cooling system. Now another new SHA-256 mining rig called the ‘Whatsminer M10’ is joining the competition and the manufacturer claims it will boast speeds of up to 33 trillion hashes per second (TH/s).

Also Read: Bitmain Offers Wi-Fi Routers Mining Cryptocurrencies Read more...

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Canadian Cryptocurrency Miner to Install 85-Megawatt Power Substation

July 28, 2018 By Mark Lyford Leave a Comment

DMG Blockchain Solutions Inc., a diversified blockchain company, is in the process of installing an 85-megawatt transformer and electric substation for the company’s cryptocurrency mining facility, according to a company statement. The new substation is commissioned to be operational by September 2018, with 60 megawatts available for energizing mining rigs.

The Canadian company offers a range of services including Mining as a Service (MaaS),where it manages bitcoin mining on behalf of third parties at scale. The installation of the new substation is expected to “increase DMG’s hosting capability by more than 20 times.” Read more...

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Mining Round-Up: AMD GPU Sales Decline, Hut 8 Claims to be Largest Miner in Canada

July 27, 2018 By Mark Lyford Leave a Comment

In recent mining news, AMD has reported declining sales of mining hardware during the second quarter of 2018, Hut 8 has claimed to now comprise the largest bitcoin mining company in Canada by operating power following the construction of its second facility, and Chinese authorities have shut down what they have described as “illegal” mining operations taking place in the autonomous Xinjiang Uyghur region in the country’s north-west.

Also Read: Binance Prepares to Enter the South Korean Market

AMD Reports Declining GPU Sales During Q2

Major manufacturer of graphics cards (GPUs), Advanced Micro Devices (ADM), has become the latest mining chip maker to report declining sales during Q2, 2018. Read more...

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Vietnam Central Bank Supports Call for a Ban on Cryptocurrency Miner Imports

July 21, 2018 By Mark Lyford Leave a Comment

The State Bank of Vietnam (SBV); the country’s central bank, has adopted the Finance Minister’s call for a prohibition on the importation of cryptocurrency mining rigs.

SBV Sides with MoF and MoIT

In June 2018, Vietnam’s Ministry of Finance (MoF) called for a ban on the importation of cryptocurrency mining rigs. The call came after Prime Minister Nguyen Xuan Phuc mandated state officials to develop stricter regulations for the market.

The MoF determined that cryptocurrency mining hardware, though not on the list of contraband materials, provided a means for people in the country to use virtual currencies as a secondary payment method. Considering that cryptocurrencies are illegal in Vietnam, the MoF sounded the call for a ban on crypto miner imports. Read more...

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Bitcoin Miner Scam from Kodak Licensee Shut Down by SEC

July 18, 2018 By Mark Lyford Leave a Comment

A Bitcoin miner project operating under the Kodak brand has collapsed. The company behind the scheme has said that it has been stopped from proceeding any further by the SEC.

Unrealistic Promises and Incorrect Math

In January, a Bitcoin mining computer called the Kodak KashMiner was unveiled at the CES technology show held in Las Vegas. Even though it was displayed at the official Kodak stand, the computer was actually a product from a company called Spotlite USA — one of several entities that operate under license to sell products under the Kodak’s brand. Read more...

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The Daily: Google Founder Is a Crypto Miner, Elon Musk Impressed by Scambots

July 11, 2018 By Mark Lyford Leave a Comment

In today’s edition of Bitcoin in Brief we cover why Google founder Sergey Brin has become a crypto miner, and why Elon Musk is impressed by crypto scambots on Twitter. Additionally covered are a new response from Fcoin regarding recent allegations and a $ 100 million venture capital fund for blockchain startups in Israel.

Also Read: Opera Browser Introduces a Built-in Cryptocurrency Wallet Read more...

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Is the Comino N1 Miner the Apple of Miners? (Review)

July 6, 2018 By Mark Lyford Leave a Comment

I have been reading a lot about Comino’s GPU miner and finally got the chance to review it. As soon as I learned that it was the supposed “ultimate home mining solution,” I decided to leave the white gloves in the office and bring her home.

At first, I was a little bit scared of the size of the device, but considering that the 8 GPUs are liquid cooled and 2 PSUs are air cooled, it’s understandable why the device would be so big. That said, it’s still 4-5 times smaller than a comparable air-cooled rig. Read more...

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Japan’s Internet Giant GMO Launches New Upgraded 7nm Bitcoin Miner

July 3, 2018 By Mark Lyford Leave a Comment

Japanese internet giant GMO has launched a new, upgraded model of its bitcoin miner equipped with 7nm ASIC mining chips. The previous model was sold out. The new model can achieve a higher hash rate and has a “hash power optimization function.” It is for sale at the same price as the previous model.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

GMO miner B3 Launched

GMO Internet Group announced Monday the launch of its new model of 7nm bitcoin mining rig, GMO miner B3. As with its predecessor, GMO miner B2, the new model uses “the mining ASIC of the 7nm process GMO72b” which supports “cryptocurrency mining of SHA256 and can execute mining of bitcoin and bitcoin cash.” Read more...

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Bitcoin Miner Aspires to Launch Largest Crypto Mining Facility in the U.S.

June 8, 2018 By Mark Lyford Leave a Comment

Coinmint, a cloud mining service provider, has confirmed it will go ahead with its proposed plan to open a cryptocurrency mining plant in an abandoned smelter previously used by Alcoa, in Massena, New York.

In a statement published online, the company said it will repurpose the 1,300-acre, 435-megawatt site into the biggest cryptocurrency mining plant in the world. The move, which was approved in February, will see the mining service invest up to $ 700 million and the creation of 150 jobs in the coming months. Read more...

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