Bitcoin Mining

Bitcoin mining machine maker Canaan reports $5.6 million net loss in Q1 of 2020.

The Chinese company Canaan cut prices of its ASIC-based bitcoin mining machines by nearly 50% to improve sales, but it wasn't enough to prevent the heavy loss. The demand for bitcoin mining rigs slumped as the coronavirus pandemic disrupted...

Bitcoin records an all-time high hash rate on the halvening day

The leading cryptocurrency on its halvening day recorded an all-time high hash rate. This is the third time that the mining reward was reduced to cut the supply of new coins being created. The price of bitcoin stumbled over...

Morgan Creek Digital co-founder Jason Williams predicts bitcoin could reach $6,800.

The price of the leading cryptocurrency slipped down the $8,800 mark over the weekend and spiraling downwards after some time. Currently, the price of bitcoin is trading at just above the $8,800 mark. The co-founder and partner at Morgan...

Bitcoin halvening is likely to trigger hashrate to plunge drastically

The Google search trend for bitcoin halving is showing a four-fold increase in comparison with the last event four years ago. The main reason predicted for the sell-off has been miner capitulation and sell-off due to an up-gradation to...

Iran government grants license for operation of a 6000-Rig Mining Plant

Iranian authorities granted a license for cryptocurrency mining company iMiner to operate in the province of Semnan. With 6,000 rigs, Turkey-based iMiner's setup would purportedly make it one of the largest crypto miners in the country. According to a...

Binance launches mining pool as community fears the centralization of hash power

Changpeng Zhao owned cryptocurrency exchange Binance launched its mining pool "Binance Pool" on Monday. The crypto community is concerned over the increasing centralization of the hashing power. Binance pool will operate with zero fees until the end of the...

Bitcoin miner manufacturer Ebang files a $100 million IPO in US

Bitcoin mining chip producer Ebang has filed for a $100 million IPO in the United States. The firm is seeking to distribute Class A ordinary shares at face value of $0.00013 per share. Ebang plans to list on either...

Bitcoin mining difficulty approaching all time high with halving upfront

Bitcoin mining difficulty is on the rise as miners are facing hindrances in mining. After recording the most significant percentage change in over six months, the network currently expected to hit a new level of difficulty.  According to statistics from...

Crypto mining firm warns that global pandemic may harm its business

The CEO of Hut 8 Mining Group Andrew Kiguel said his firm was grappling with a vague timeline for the delivery of crypto mining machines to support its farms. He noted that the orders placed in February were expected...

Bitmain claims victory in a lawsuit filed against its former partners

Chinese crypto mining equipment manufacturer is always in the news for one reason or the other. Over the past year, Bitmain has witnessed a failed IPO, in-fighting at the highest levels, and mass employee layoffs. But the company finally...

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The world’s reserve currency US dollar is getting weaker compared to crypto, says Ripple CEO.

While the US dollar won't give up its position as the world's reserve currency any time soon, it's definitely...