Mining Operators Fret As Bitcoin Looses Ground, What Lies Ahead For The Minin...
Bitcoin and other altcoins have suffered massive losses since May. But after a point, things started changing a bit. For example, bitcoin that fell to $17K on June 18 recovered to trade between $20K and $21K from June 19 to June 28 when it traded above $21K in the early hours of the day. Unfortunately, the crypto could not sustain the recovery above $21K and lost more than $500 some hours later. The change in Bitcoin price resulted from mixed reactions in the market concerning regulators’ stance on crypto. According to Gary Gensler, the SEC boss, regulators place Bitcoin and other....
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Russia’s Bitriver, one of the largest operators of crypto mining data centers, may take legal action against the U.S. over the decision to place it under sanctions. The company insists it does not help the Russian government to circumvent international restrictions. Bitriver Rejects US Accusations as Unfounded, Sees No Legal Ground for Sanctions Leading Russian mining enterprise Bitriver is considering filing a lawsuit against the U.S. Treasury Department, which recently designated the Swiss-registered company and a number of affiliated entities in a new round of sanctions against....
As the conversation about Bitcoin’s energy consumption reaches a fever pitch, Jack Dorsey’s payment provider Square has unveiled plans to fund a sustainable bitcoin mining facility in conjunction with Blockstream. Mining Project to Serve as Scalable Proof of Concept Bitcoin faces no shortage of consternation, but the spat over the cryptocurrency’s footprint spilled out into the public over the last few weeks following comments from Elon Musk. Although U.S. miners have come together to form the Bitcoin Mining Council following Musk’s critique by promising more....
The US Federal Trade Commission (FTC) has announced that bitcoin mining hardware company Butterfly Labs and two of its operators have agreed to settle charges that pointed to the company deceiving customers. The FTC revealed today that bitcoin mining hardware manufacturer Butterfly Labs and two of its operators: part-owner and vice president of product development, Sonny Vleisides and general manager, Darla Drake have settled charges filed against the company. Under the terms of the settlement, Butterfly Labs must pay the FTC $38,615,161, according to the judgement ordered against the....
Bitcoin mining hardware, also known as mining rigs, are computing devices made specifically to “guess” the correct bitcoin block hash as quickly and with as little power as possible. While the earliest Bitcoin mining was conducted by standard computer CPUs, mining operators were incentivized to ...