News
The original report from GizChina said that a software developer had modified the CPU and graphics cards on the new gaming console to mine crypto.
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Bitcoin Mining News
Bitcoin mining is a peer-to-peer process of adding data into Bitcoin’s public ledger in order to verify and secure a contract. Groups of recorded transactions are gathered in blocks and then added into the Bitcoin blockchain. Bitcoin mining requires a lot of resources to protect the network from the possibility of altering past transaction data by making all attempts in changing blocks inefficient for the intruder. Bitcoin mining is rewarded by the network through transaction fees and subsidies of new coins to encourage miners to spend their resources on mining new Bitcoin blocks. As Bitcoin mining is increasingly difficult, it has become impossible to attempt mining as an individual. As a result, most Bitcoin mining is being done by mining pools, which include several participants sharing their reward. Bitcoin mining is controversial, as it is a great tool for securing transactions but complicating the scaling of the network.
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Inner Mongolia drew the ire of Beijing after failing to meet energy efficiency goals.
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Bitcoin in, and Bitcoin out: major players are deploying different strategies as BTC consolidates well under $58,400 highs.
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Kristy-Leigh Minehan said the state doesn't currently have enough mining hardware to cause significant problems for the power supply.
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Swiss investment bank Credit Suisse is reportedly backing German Bitcoin mining operator Northern Data in its $500 million IPO.
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On-chain data shows that while miners are selling less BTC, old investors are realizing profits.
19876 - Market Analysis
Bitcoin mining fundamentals are growing stronger as miners are making a killing from higher BTC price
84795 - Opinion
Regardless of Bitcoin’s price or future economic scenarios, Bitcoin mining will be a profitable activity.
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Bitcoin energy consumption has been at its highest historical levels since late 2020, according to Digiconomist’s Bitcoin Energy Consumption Index.
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Logica Capital's chief strategist believes China could attack the Bitcoin network for just $7 billion per year.
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Stack Funds’ analysis suggests that Bitcoin’s floor price has yet to be found as the Chinese New Year approaches.
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After corporate infighting temporarily halted chip shipments in 2020, Bitmain's Antminer team says business will resume as normal following former CEO Jihan Wu's departure.
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“I have resigned from the CEO and Chairman of Bitmain as of today,” said Jihan Wu.
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Foundry entered the cryptocurrency mining game in August 2020.
4989 - Markets News
This week's volatility may come down to a tug-of-war between miners selling and Grayscale buying.
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