600,000 Miners Shut Down Business In The Last Two Weeks

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 … Continue reading 600,000 Miners Shut Down Business In The Last Two Weeks

Lawsuit Claims Bitmain Used Customer Resources to Mine Bitcoin

Class-Action Suit 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 … Continue reading Lawsuit Claims Bitmain Used Customer Resources to Mine Bitcoin

Cryptocurrency Miners Selling Mining Devices by “Kilo” in China Due to Market Decline

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, … Continue reading Cryptocurrency Miners Selling Mining Devices by “Kilo” in China Due to Market Decline

Bitcoin Mining Farms Lose Government Subsidies in Norway

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, … Continue reading Bitcoin Mining Farms Lose Government Subsidies in Norway