Only Companies with Strongest Engineering Teams Will Survive ‘Mining Arms Race’
Founded in 2013 by a group of Israeli high-tech veterans, and with the inventor of Bitcoin's Proof-of-Work system, Adam Back, serving as the company's Chief Cryptography Officer, Spondoolies-Tech “is all about cryptocurrency.” Named after the Spondylus shell that was used as Neolithic jewelry and also an early form of money, the company builds mining rigs from the bottom up for both private and commercial users. Spondoolies-Tech CEO, Guy Corem, has a broad mix of professional experience in founding start-ups and has worked in the corporate world for Voltaire and as a software and firmware....
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The face of industrial-scale bitcoin mining is changing with every passing month, having already pushed far beyond the bounds once envisioned, perhaps, by the hobby miners of four years ago. The landscape is much different now. Many large-scale mines are shifting from warehouse set-ups to data centers better equipped to deliver the massive power and cooling resources necessary to compete in a steadily accelerating industry. CoinDesk spoke with executives from some of the biggest hardware companies in the mining space. During those discussions a picture emerged of an industry undergoing a....
A consortium of major bitcoin mining companies has pledged to be more transparent in its operations, specifically on the source of cloud mining payouts. Including major China-based bitcoin mining firms ASICMiner, Gridseed, Rockminer, XBTec and ZeusMiner, the group boasts that the partnership has resulted in the "the strongest alliance ever in cloud mining history", according to the official announcement. The move follows previous cooperative efforts between the companies, which are moving to provide greater support to one another in the face of increasing international competition. Last....
CoinDesk's Daniel Cawrey recently visited and toured the facilities at Butterfly Labs, one of the most prominent and written about producers of bitcoin mining technology. In this second part of this series, he reports on the factors involved in the bitcoin mining arms race. Now that Butterfly Labs is shipping ASIC bitcoin miners at a steady pace, their production plus that of Avalon and mining pools like ASICMiner are causing the mining difficulty to go up quite quickly. What this means is that it takes more computational power to complete proof of work algorithms. It means that a race is....
Here’s what investors may want to know about the just-announced Barrett-Digital Arms NFT licensing partnership deal. Murfreesboro, TN- Barrett Firearms Manufacturing Inc. (”Barrett”) announced it has entered a long-term exclusive licensing agreement with Digital Arms to design, develop, and market Barrett-branded non-fungible tokens (NFTs). Digital Arms is bringing an NFT trading platform to the firearm, […]
The legacy banking system is in the process of a technological refresh. This is rather like how cars are updated. A new car is redesigned every five years or so, and three years later they get some navigation system updates, a new grille, and maybe some increased horsepower. The banking industry is certainly not getting redesigned, and the last time they had an engineering overhaul was way back when in the dot-com era, when online banking was added a generation ago. Banks are never at the cutting edge, consistently being five to ten years behind the curve. Now, one international mega-bank,....