Bitfury and Other Miners Receive Offers to Buy Mined Bitcoin in Bulk
Bitfury, the Bitcoin mining company has declined an offer from investors to purchase mined cryptocurrency in bulk. The steady rise in Bitcoin’s price has got a lot of people interested in it. As the market indicates a further increase in the digital currency prices, investors are looking for ways to buy more bitcoin through various sources. Some of them have decided to approach the miners directly to source the cryptocurrency instead of going through the usual channels like Bitcoin exchanges. Bitfury is one of the many mining companies to receive such requests. The increased requests for....
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The second so-called Bitcoin “block halving” is fast approaching. This week, as three-quarters of all bitcoins have been mined, the block subsidy will decrease from 25 bitcoins per block to 12.5. A key event in Bitcoin's history, eagerly anticipated by some – and perhaps somewhat feared by others. More than anyone else, Bitcoin miners stand to be affected by the event: producing blocks is their business and the block reward presents the major chunk of their revenue. Having spoken to BTCC COO, Samson Mow, and BitFury CEO, Valery Vavilov, last week, Bitcoin Magazine reached out to other....
BitFury Early Gen Units. BitFury has been on a roll this year with over $40 million in venture capital funding, as well as the addition of Jonathan Teo and Dr. Jackson Hu to their Strategic Advisory Board. To top it all off they added President and Chief Strategy Officer for Samsung Electronics Young Sohn to their Advisory Board. BitFury has emphasized that they are not a mining company, but a technology company: BitFury has set their sites on being more than a chip maker. With all this in mind, we were able to ask BitFury CEO Valery Vavilov through email about their next gen Bitcoin ASIC....
One of bitcoin's biggest mining infrastructure providers, BitFury, has launched a new hosted mining service for business customers. The company claims the scheme will provide customers with "optimal and reliable" - but low-cost - hash power to maximise the return on their investment. BitFury says its ASICs and specialised mining hardware have established it as the market leader in both constructing and managing computing centres for mining operations. According to the company, approximately 40% of all bitcoins are mined using BitFury-made chips. DigitalBTC and CryptX became the first....
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A week ago, the Federal Trade Commission (FTC) shut down Butterfly Labs (BFL), one of the reasons for this being that "consumers who have purchased the machines or services cannot use them to generate Bitcoins because Defendants [Butterfly Labs] never provide them with the machines or services." The FTC released new court filings today for its Butterfly Labs case. The most recent report by the FTC against Butterfly Labs is that they mined for bitcoins on their customers' miners before shipping them (if they even shipped them at all), and didn't tell the customer: Fraud. New Evidence....