Chinese Miner Sentenced to 3.5 Years in Jail for Stealing Train Power to Mine Bitcoin

Oct 8, 2018

A man in China has been sentenced to three and a half years imprisonment for stealing electricity from a train station to power his bitcoin mining operations, according to local media outlet The Paper. As per the court document revealed on October 8, in addition to jail time, the suspect ha...

Bitcoin Hashrate Increases in A Bear Market, Investors are Still Optimistic in the Long Term

Aug 20, 2018

Bitcoin declines in a rapid speed these days. People take it for granted that mining activity is expected to follow, but fortunately, that hasn’t happen. According to a cryptocurrency news outlet CryptoBuzz, BTC mining difficulty has been growing 15% per month in 2018 and at present, it ...

A Glance of Bitcoin Mining Farms Hidden in China’s Sichuan Deep Mountains

Jul 28, 2018

A recent flood in China’s Sichuan has led media and investors in the cryptocurrency sector to overstate its impact on the hashrate of bitcoin. Though analysts have claimed Sichuan floods had little impact on the bitcoin hashrate, floods there have uncovered the hidden bitcoin mining farm...

China’s Xinjiang to Shut Down Illegal Bitcoin Mining Farms By September

Jul 25, 2018

China’s Xinjiang Uygur Autonomous Region is demanding to eliminate illegal bitcoin mining facilities by the end of this August, according to the government notice issued by the region’s Economic and Information Commission (EIC). As per the official notice, local utility companies ...

Bitmain Raises Another $1 Billion Prior to its IPO

Jul 23, 2018

According to Local media outlet Touchweb, Chinese bitcoin mining giant Bitmain has reportedly seeking a new pre-IPO funding of US$1 billion, shortly after it completed a Series B funding of US$300-400 million headed by Sequoia Capital. Based on the report, the new one-billion fun...

Analysts Claim Sichuan Floods Led Bitcoin Hashrate to Drop, Highly Unlikely

Jul 9, 2018

Strong storms and heavy rain in the Chinese province of Sichuan have led investors in the cryptocurrency market to speculate its possible impact on the hashrate of bitcoin. This week, in an interview with FT, social trading platform Carboneum CEO Max Kortrakul said: “The pictures...

Bitmain Heading Towards 51% Control of the BTC Hashrate

Jun 27, 2018

The China-based crypto mining giant Bitmain has controlled 42 percent of computing power recently which gives rise to fears that the company is approaching the dreaded 51% threshold. According to the data from CoinDance, the two mining pools owned by Bitmain, BTC.com and Antpool, have ...

China’s Bitcoin Miners Unwanted in Southeast Asia Too

May 13, 2018

Southeast Asia is emerging as a new hub of bitcoin mining as Chinese miners swarm to Cambodia, Myanmar and Vietnam because of access to comparatively cheap electricity and geographical proximity. While soon these China's unwanted bitcoin miners found they are not wanted there too, complaint...

Samsung Revenues Increase Due to Rising Demand For Cryptocurrency Mining

Apr 28, 2018

Samsung, the largest conglomerate in South Korea and one of the world’s biggest electronics manufacturer, revealed in a recent conference call that the company’s foundry business and semi-conductor department recorded increase in earnings due to the rising demand for cryptocurrency mining globa...

Bitcoin Mining Consume Too Much Electricity, Miners Cry For An Energy Saving Solution

Feb 28, 2018

Sudden huge profits from bitcoin mining attracts an influx of miners. In the meantime, analysts are concerned that bitcoin and cryptocurrency mining causes too much electricity. Moreover, since the price of bitcoin has been on an absolute tear since November and the electricity costs becomes so ...