Data from Glassnode strengthens the overall consensus that Bitcoin’s hash rate, despite being hard to measure, is stronger than ever before.
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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Chinese mining ASIC manufacturer Canaan will launch new, improved mining machines with 5-nanometer chips in Q1 2020.
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Canada-based cryptocurrency mining company Great North Data has reportedly submitted a bankruptcy filing due to insolvency.
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The largest data center in the former Soviet Union grants miners cheap energy when mining in the former world’s largest aluminum smelter.
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Data estimates show computing power remains near its highest-ever levels on the Bitcoin network, while price suppression still remains.
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Data from SEC filings show 10 million shares go for $9 each, in an offering less than a quarter of its planned size prior to Credit Suisse pulling out.
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Crypto mining operations of mining firm Bitfarms are still expanding despite complaints about the noise moved by residents of the city.
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Two Bitcoin mining firms entered a merger agreement and plan to jointly build the world’s largest mining farm.
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With Chinese President Xi Jinping recently showcasing support for blockchain, local media is seemingly changing its sentiment toward crypto.
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New documentation shows 2019 is still negative overall for the Bitcoin mining company, which beat competitors to the IPO crown.
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A decision to treat Bitcoin mining as an undesirable industry earlier this year no longer features in China’s official plans, documents show.
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The combined value of block rewards and transaction fees has likely already passed $15 billion, according to recent data.
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Dmitry Marinichev, Russia’s internet ombudsman who criticized the state’s attempt to block Telegram, plans to take over a closed metal factory to mine Bitcoin.
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by Joeri Cant
Chinese cryptocurrency mining giant Canaan Creative has filed for an initial public offering with the U.S SEC to raise $400 million.
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Computing resources dedicated to Bitcoin transaction validation is bigger than ever, underscoring miners’ overall bullish sentiment despite the price falling.
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