A New Approach to Thwarting “Selfish” Bitcoin Miners
Selfish mining is an attack on the Bitcoin network that has been known to be possible for several years. By propagating new blocks slowly (on purpose or by accident), a loophole is opened for miners to unfairly increase their profits in relation to other...
“Bitmain Is Restructuring,” But Jihan Wu Still a Board Director: Source
Bitmain has denied reports that its CEO Jihan Wu was ousted as the mining firm’s board director while confirming that the board has undergone restructuring.Setting the record straight, Nishant Sharma, international marketing manager of Bitmain Technologies Limited, told Bitcoin Magazine that, instead of losing...
BTCC Announces the “Indefinite” Closure of Its Mining Pool
BTCC will be shutting down its mining pool by the end of the month.According to a recent notice made by the Hong Kong-based exchange, BTCC will deactivate its mining pool servers on November 15, 2018, and cease all operations entirely come November 30.Citing “business...
Bitfury Secures $80M in Private Funding Round
Cryptocurrency mining firm Bitfury Group has closed a Series C, $80 million funding round led by EU-based Korelya Capital. The round also included crypto merchant bank Galaxy Digital, Lian and Jabre Group, Dentsu Inc., Armat Group and others.Bitfury is a diversified blockchain company known...
Op Ed: Bitcoin’s Energy Consumption Is Neither Frivolous Nor Excessive
As the CEO of Hut 8, one of North America’s largest cryptocurrency miners and the world’s largest publicly traded cryptocurrency miner, I’m often asked questions about energy consumption in the mining of cryptocurrency. Unfortunately, there are many misconceptions around energy use and why it’s...
Report Links 74% of Bitcoin Mining to China, Sees Threat to Network
Bitcoin, the world’s most sought-after cryptocurrency, could be at the wish and whim of Asia’s economic giant.A recent study titled “The Looming Threat of China: An Analysis of Chinese Influence on Bitcoin,” jointly researched by Princeton University and Florida International University researchers, suggests China’s...
Federal Election Committee Asked to Consider Crypto Mining for Political Contributions
OsiaNetwork LLC has reached out to the Federal Election Committee (FEC) in the hopes that it will allow computer sharing for crypto mining for campaign donations. Osia says it would like to be the platform in which volunteers share their computer power to mine...
Montana Senator: Closing Coal Plant Could Hurt Bitcoin Mining Industry
The crypto industry has scored another first, as a junior U.S. Senator from Montana, Steve Daines, has lobbied against the planned closure of a coal-fired power plant in Rosebud County, arguing that its closure could harm the growing cryptocurrency mining industry in the state.According...
Noise Complaints May Cause Norwegian Bitcoin Mining Center to Shut Down
Norwegian bitcoin miner Kryptovault is facing a shutdown of its operations due to extensive noise complaints from locals and a lack of proper paperwork. The company, which is headquartered in a former paper mill in Norway’s capital of Oslo, uses more than 40MW of...
New Research Claims Satoshi Mined Far Fewer Bitcoins Than Previously Thought
Based on five-year-old research, Bitcoin enthusiasts and critics alike have often held that Satoshi Nakamoto originally mined some 1,000,000 bitcoin in the early days of the network. New numbers from BitMEX Research, however, demonstrates this number could be off by 300,000-400,000 total bitcoin.Breaking Down...
