MiningDennis Sahlstrom

600,000 Miners Shut Down Business In The Last Two Weeks
Mining
600,000 Miners Shut Down Business In The Last Two Weeks
According to F2Pool, the third largest mining pool, between 600,000 and 800,000 bitcoin miners have shut down business. They have shut down at a rapid pace and done so by mid-November. Why have bitcoin miners shut down? Mao Shixing is the founder of F2Pool and told Coindesk bases his estimates on the number of miners that have shut down on different metrics. These metrics consists of the total hashrate drop…
Class-Action Suit Claims Bitmain Used Customer Resources to Mine Bitcoin
Mining
Lawsuit Claims Bitmain Used Customer Resources to Mine Bitcoin
Based on a class-action suit which was filed in a Northern California district court in the United States, Bitmain has allowed some shady practices over the past few years. According to the suit, Bitmain accessed user resources when they were going through the “initialization” process to mine for Bitcoin. According to a bitcoin miner who was also a Bitmain user, during the initial period which a miner was in possession…
Cryptocurrency Miners Selling Mining Devices by Kilo in China Due to Market Decline
Mining
Cryptocurrency Miners Selling Mining Devices by “Kilo” in China Due to Market Decline
According to the Chinese crypto outlet, 8BTC crypto miners in China are selling their equipment. 8BTC used the mining pool F2Pool as a reference regarding the selloff. Cryptocurrency mining not profitable The cryptocurrency market is declining rapidly, and the price of bitcoin fell below $4,300 during November 20. Bitcoin hit a 13-month low in price, and we see great losses across the whole cryptocurrency market. According to Coinmarketcap.com, the total…
Bitcoin Mining Farms Lose Government Subsidies in Norway
Mining
Bitcoin Mining Farms Lose Government Subsidies in Norway
Crypto industry in Norway has been dealt a huge blow as the government moved to halt the electricity subsidies for the bitcoin mining companies. According to local media, the new state budget states that, starting from January 1st, crypto miners will have to pay the normal electricity tax. Bitcoin mining will not be profitable Currently, BTC mining enterprises with a capacity of more than 0.5 megawatts enjoy the electricity discount,…