Inner Mongolia in China is increasing penalties for those who engage in Bitcoin mining. This is part of a new draft law that aims to clamp down on BTC production. The bill, reported by the South China Morning Post, could introduce much stricter penalties for people and companies that are found to be carrying out
The much-discussed Bitcoin Mining Council is finally born. It all started with Elon Musk’s strong criticism of the energy consumption of bitcoin mining. Indeed, bitcoin mining does consume a lot of electricity, a significant part of which is produced from non-renewable sources. As a consequence of this, the CEO of MicroStrategy Michael Saylor organized a
Argo Blockchain, famous for being the crypto mining company listed on the London Stock Exchange, seems to be seeing a drop in the price of its ARB stock, while increasing its Bitcoin mining. According to reports, it seems that the company’s crypto mining progress is not reflecting the downward price of its ARB shares. In
Bitcoin’s hashrate has dropped a lot in recent days due to the Chinese ban. In fact, the forced closure of several mining farms in China has caused the hashrate to fall by 43% from its mid-May peak. It should be noted, however, that in mid-May the total computing power used to mine bitcoin had reached
According to Anthony Pompliano, Bitcoin mining, using Proof-of-Work, will lead to energy independence. Proof-of-work mining will drive energy independence. — Pomp ? (@APompliano) March 9, 2022 Bitcoin as global reserve currency It is not clear what he means by this, especially since mining consumes energy without producing it. It is likely, however, that it has
Yesterday the well-known Fortune magazine dedicated an article to Bitcoin explaining that miners are increasing despite the halving event. In particular, Fortune mentions a new mining farm created thanks to the support of Peter Thiel, the co-founder of PayPal and the first investor of Facebook, through the startup Layer1 that Thiel co-financed. The opening of
Bitmain has announced a new range of high-performance ASICs – Antminer S17e and T17e – for the mining of bitcoin and all other Proof of Work-based coins with the SHA256 hashing algorithm. The new Antminer S17e features the same 7 nanometre-chips (BM1397) as the Bitmain S17 presented last March 2019. Precisely for this reason, the
Over the past few days Bitcoin’s average daily block-time has almost always been above 10 minutes, with peaks at almost 12 minutes. Bitcoin mining hashrate falls: expected decrease in difficulty This slowdown in the speed at which blocks are mined, whose ideal rate would be an average of one every 10 minutes, is due to
Argo Blockchain has announced that revenue for 2019 has increased by 1,000% compared to 2018. Argo Blockchain Plc is a bitcoin mining company listed on the London Stock Exchange and therefore has an obligation to disclose its economic performance to investors. According to reports, revenues in 2019 were about 8.62 million British pounds, equal to
Revenue for Bitcoin mining fell by 21.6% in May, due to a failure to adjust the difficulty in the face of high hashrate. Bitcoin mining profitability is declining The number of BTC mined has remained more or less constant, but their value has declined significantly. According to a recent analysis by The Block Research last
