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
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.”
New Mining Manufacturer Linzhi Announces Ethereum ASIC Miner
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.
Report: Miner Spends Only $1567 per BTC
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
Pangolin Miner Claims 16nm ASIC Miner Will Compete With 7nm Machines
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
Canadian Cryptocurrency Miner to Install 85-Megawatt Power Substation
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.”
Mining Round-Up: AMD GPU Sales Decline, Hut 8 Claims to be Largest Miner in Canada
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.
Vietnam Central Bank Supports Call for a Ban on Cryptocurrency Miner Imports
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.
Bitcoin Miner Scam from Kodak Licensee Shut Down by SEC
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.
The Daily: Google Founder Is a Crypto Miner, Elon Musk Impressed by Scambots
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
Is the Comino N1 Miner the Apple of Miners? (Review)
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.
Japan’s Internet Giant GMO Launches New Upgraded 7nm Bitcoin Miner
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.”
Bitcoin Miner Aspires to Launch Largest Crypto Mining Facility in the U.S.
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.
Japan: GMO Group Unveils ‘World First’ 7nm Miner As CEO Vows To ‘Top’ Bitmain
Japanese internet giant GMO has announced pre-orders for its B2 Bitcoin miner — the world’s first miner equipped with 7nm processing technology.
‘I Respect Bitmain, But We Will Top Them’
Unveiling the finished product at a conference, GMO’s CEO, Masatoshi Kumagai, promised to “top” competitors with the product — which aims to deliver more power in return for a higher purchase price.
The move sees GMO vie with market stalwarts Bitmain and Halong Mining Corporation to woo the ever-increasing Bitcoin mining community.
Mining Round-Up: Venezuelan Authorities Raid Miners, Taiwanese Miner Shot for Debt to Investors
In recent mining news, Venezuelan authorities are cracking down on mining operations – with one Venezuelan telling reporters that he was forced to leave his home country after becoming the victim of extortion. In other news, a Taiwanese miner was shot by gangsters after failing to deliver on returns on the gang’s investment into his mining operation, and a state-owned wind farm in Estonia has begun mining cryptocurrency.
Also Read: This Week in Bitcoin: Digital Money Makes the World Go Round
Date Set: Japan’s Internet Giant GMO Will Launch 7nm Bitcoin Miner on June 6
Japan’s GMO Internet announced that it will unveil its flagship bitcoin mining machine, called GMO miner B2, equipped with the 7nm chips on June 6. Interested customers can register now for the upcoming information session.
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
Launching on June 6
The wait for 7nm bitcoin mining products from Japanese internet giant GMO may be nearing to a close, as the company announced Thursday:
Hong Kong Alcohol Company Buys 51% of Bitcoin Miner for $60 Million
Regardless of what the central Chinese government tries to do or say, bitcoin and cryptocurrency remain popular investments among everyday people in China. And a new way to get exposure to the ecosystem just materialized for those with access to the Hong Kong market, a publicly traded company entered the mining industry.
Also Read: This Week in Bitcoin: Amazon Wants to Track You and TD Ameritrade Plants a Flag
Bitcoin Miner Injured in Shooting Blames China Crypto Ban
A Taiwanese Bitcoin Miner nearly paid for his life after being shot at by gangsters for allegedly reneging on a mining deal by not providing payment. The victim went on to blame China and their strict anti-cryptocurrency regime for the lack of available funds.
There are many ways to be a part of the crypto industry. Trading in virtual currencies is an option, as is creating a new digital currency and even contributing to ICOs. Mining is another option. Some companies or individuals may even hire freelance miners and split any subsequent profits between themselves and the miner.
PR: Bitcoin Miner Distributor BlokForge Opens US Retail Location
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BlokForge, one the nation’s largest suppliers of cryptocurrency mining hardware, is announcing the grand opening of its 2,000 sq. ft. retail location in Mesa, Arizona. The new store will carry over 20 product SKU’s from the largest brands in the world such as Canaan Creative.
Cryptocurrency Mining at Home Heats Up With Eco-Friendly Miner
Proof of Work (PoW) mining operations, like Bitcoin and Ethereum, use a tremendous amount of energy and generate a tremendous amount of waste heat. Qarnot is one of a number of growing companies that has found a way to turn that waste heat into controlled heating for the home or office.
The new Qarnot QC-1 “crypto heater” takes advantage of an obvious synergy: It makes use of the waste heat generated by mining crypto in the guise of an attractive space heater.
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