The CoinDesk Mining Roundup: 21e6, KnCMiner Profits and New Hardware
Bitcoin mining continues to be a popular, albeit contentious topic. On one hand, the mining process is conducted via a distributed network, which gives it a lack of centralized control. Yet on the other, the ASIC hardware required to perform the SHA-256 hashing needed for the Bitcoin protocol is becoming increasingly expensive. Let's take a look at the mining news stories that have made headlines in recent weeks: Dreaming in bitcoin. Bloomberg BusinessWeek's cover story for 13th Jan. Source: Mashable. In what may be the highest-profile piece on bitcoin mining to date, BusinessWeek's recent....
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As the mining industry evolves, there are always new products and services hitting the market for enterprising cryptocurrency entrepreneurs. The competition between hardware manufacturers continues, with CoinTerra shipping its 5,000th unit and KnCMiner offering new incentives. Before ASICs came along, issues of power and cooling were not as much of a priority. Now, even the new Radeon, the most powerful graphics card to date, is not the least bit exciting to those interested in mining. But with data centres full of mining racks and malicious actors dropping cryptocurrency mining libraries....
KnCMiner Can't Compete in hardware sales, but they might be making it up to their customers now. KnCMiner has been unable to produce quickly and ship mining equipment for some time now. After it's lengthy eight-month wait for Neptune miners, they've decided to do the right thing and stop selling mining equipment to independent miners. KnCMiner will now be selling cloud mining instead. There are reports from KnC customers that Titan order refunds are being processed, according to GAW CEO on HashTalk. That is sure to make lots of KnCMiner Customers happy if true. If KncMiner continues on....
Earlier today, KnCMiner updated their website to reveal a Litecoin Mining Hardware tab, right next to their Bitcoin Mining Hardware tab. Under the new tab, KnCMiner reveals information on their newest ASIC miner: The Titan. The Titan is a 100 MH/s Scrypt ASIC that is designed to be used on the Litecoin network. Of course, there are hundreds of other Scrypt-based altcoins that are clones of Litecoin with slightly modded parameters. The Titan can be used to mine on any of those altcoins as well. The Titan costs $9,995 to preorder and shipment is slated for Q2/Q3 of 2014. KnCMiner has also....
A legal effort to sue bitcoin mining firm KnCMiner over product refunds has been dealt a blow in Sweden, court documents reveal. The suit traces back to public furor related to the Titan, a mining product developed and released by KnCMiner in 2014 that was designed to confirm transactions for non-bitcoin cryptocurrencies like litecoin, a process known as mining. Anger among the firm’s customer base over delayed shipments and hardware problems sparked controversy and the rumblings of legal action. The situation led to accusations of fraud and misrepresentation, allegations of which formed....
As a follow-up to a post made yesterday, in which KnCMiner's upcoming Titan Scrypt mining rig pre-orders were announced, the company has shared some news with regard to sales - and they're nothing short of impressive. According to TechCrunch, the company notes that they managed to sell $2 million worth of the rig in pre-orders. In a four hour period. Let that sink in for a moment. Coming in at $9,995, it isn't cheap either. But for users looking to mine alternative cryptocurrencies, it could be a worthwhile investment. "We are overwhelmed by the positive response we have gotten and we will....