The Monero (XMR) network has been successfully upgraded to RandomX, a new mining algorithm that aims to be ASIC-resistant. On Nov. 30, the Monero community workgroup did a live stream on YouTube in which the upgrade took place at around the 58 minute mark. The new upgrade also introduced proof-of-work (PoW) algorithm, RandomX, which uses…
Three researchers have published a paper at Cornell University’s arxiv.org proposing a system called Optical Proof of Work (OPOW) to potentially be employed in Bitcoin mining. According to the paper, “heavy reliance on electricity has created scalability issues, environmental concerns, and systemic risks.” The authors state that silicon photonics could be used to shift mining…
Compute North, a data infrastructure and colocation company based in the U.S., has announced that its largest location is now live in Nebraska. The new facility offers 100 megawatts (MW) of power and is targeted at large capacity users, such as cryptocurrency miners.“The facility is set up to accomodate large-capacity users with over 1MW of…
International economic sanctions have propelled many countries toward cryptocurrencies — from Venezuela to Iran. Now, U.S. sanctions imposed on one Russian company have paved the way for a cryptocurrency mining operation to take over a decidedly industrial facility. Rusal Turns to Cryptocurrency Mining in Face of Sanctions One such establishment is Rusal, an aluminum giant…
Bitcoin mining giant Bitmain is said to have confidentially filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission. Sponsored by Deutsche Bank, the offering was filed with the SEC earlier this week before a recent management shakeup saw the ousting of Bitmain co-founder and executive director Micree Ketuan Zhan Oct. 29,…
At the World Digital Mining Summit in Frankfurt, Germany, Bitcoin.com’s CEO Stefan Rust sat down with Jihan Wu, cofounder of Bitmain Technologies and Matrixport. The two discussed how cryptocurrencies being used for payments is spreading and how Bitmain is doing after the bear market last year. Also read: SEC Wants Second Look at Bitwise Bitcoin…
Poolin, just over a year old and already trending as a top two mining pool, is a bit of an anomaly in the mining industry as a China based company with public views on Bitcoin’s development that mirror Bitcoin Core’s. CEO Zhibiao Pan started in the mining industry as the founder of TangPool in 2014…
BCause Mining, a Bitcoin (BTC) mining operation in the city of Virginia Beach in the United States, was ordered to liquidate its assets. In an Oct. 9 article, local news outlet the Virginian-Pilot reported that the Bitcoin mining company filed for bankruptcy earlier this year. This week, a federal judge approved the motion to convert…
On September 28, 2019, a video in which Belarusian President Alexander Lukashenko talks about mining bitcoin with the country’s nuclear power began to make the rounds on Twitter. Though the speech presented is not new (it dates back to April 2019) and was covered by Bitcoin Magazine at the time, the effect of this sudden…
Bitmain is creating the eHarmony of bitcoin mining. Okay, maybe that’s a bit embellished, but the mining firm is creating a tool that connects large-scale mining operations with individual suitors shopping for mining hardware hosting services. The new service, dubbed the World Digital Mining Map (WDMM), will create a directory of cryptocurrency mining farms and…