The CoinDesk Mining Roundup: Solar-Powered Mining, DVR Malware and the 'Bitcoin Baron'
The price of bitcoin on the CoinDesk Bitcoin Price Index (BPI) has declined in recent weeks on the news that the Internal Revenue Service (IRS) had released complex guidance for digital currency users amid growing uncertainty regarding exchange regulation in China. In the mining world, these price fluctuations can cause ongoing profitability issues, as miners, hardware manufacturers and price are key factors that impact the difficulty. The incentive for people to mine varies with the bitcoin price. A high price makes mining attractive and people invest in costly ASIC rigs. The mining....
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Blockstream and Square partnered to construct a solar-powered bitcoin mining facility and demonstrate potential for sustainable energy use.
The past few weeks have not been incredibly positive for the bitcoin economy, to say the least. Yet it is important to stay cognisant of the fact that, although bitcoin exchanges will come and then go, mining is here to stay. No regulator is going to be able to create a policy to get rid of the ASIC chips out there confirming bitcoin transactions. As Bitcoin Foundation Chief Scientist Gavin Andresen recently told American Banker: "These chips will become ubiquitous. You might buy a box of Cracker Jacks and get a bitcoin mining ASIC unit." With that positive thought in mind, here's a look....
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....
Bitcoin's breakthrough from a rather stagnant price has certainly made miners happy as of late. It might even entice the masses to splurge on a mining unit or two. Such an occurrence would certainly help the network as a whole. The recent meeting of minds between Chinese mining hardware suppliers brings back to the fore just how centralized mining continues to be. And while closed-door events like this are happening, the public must contend with the possibility that personal computers can be afflicted with mining malware - that's not positive for the cryptocurrency industry. With that in....
A crypto mining data center in the state of South Australia will be running mainly on solar-generated electricity, a media report reveals. The coin minting facility has been set up in a region known for its energy-hungry iron ore extraction and steel production. Bitcoin Farm to Mine Cryptocurrency on Solar and Excess Energy in South Australia The ‘Steel City’ of Whyalla in South Australia has become home to a new crypto mining installation that will run on electricity generated from solar power. Operated by the Lumos Digital Mining company, the 5-megawatt facility will be....