Day: October 13, 2021

Sphere 3D, Gryphon Sign Hosting Services Deal With Core Scientific

Sphere 3D, the Nasdaq-listed data-management company that’s being bought by Gryphon Digital Mining, reached an agreement for Core Scientific to host and manage about 230 megawatts of bitcoin mining capacity. The agreement covers 71,000 bitcoin mining machines, including 60,000 the companies agreed to buy in an August deal with Hertford Advisors. The hosting arrangement is the largest in Core Scientific’s history, according to a statement Wednesday. The mining machines will be installed over a period of 14 months and use 100% net carbon neutral power. The merger between Sphere (NASDAQ:…

Bitcoin Miner Greenidge Generation Issues $50M Bond Sale

Bitcoin mining firm Greenidge Generation Holdings (NASDAQ: GREE) plans to sell $50 million worth of five-year bonds. The Nasdaq-listed firm has entered into an agreement with an underwriter for the sale of $50 million worth of 8.5% senior notes due 2026, according to an SEC filing dated Oct. 8. The offering is expected to close today. “In addition, the underwriting agreement grants the underwriters a 30-day option to purchase from the company up to an additional $5,200,000 aggregate principal amount of the notes,” the filing said. Greenidge expects to raise…

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Investors Lost $10,000 on Average to Russian Crypto Pyramid Finiko, Poll Reveals – Bitcoin News

Investors defrauded by the Russia-based cryptocurrency Ponzi scheme Finiko have sent the crypto pyramid an average exceeding 720,000 rubles, or more than $10,000 at current exchange rates. The assessment comes from a survey of victims conducted by a public non-profit organization. Fifth of Finiko Investors Parted With Over 1 Million Rubles Russia is still trying to grasp the magnitude of its largest financial scam since the notorious MMM pyramid in the 1990s. While the officially registered losses to Finiko have reached 1 billion rubles (close to $14 million), some estimates…

Bitcoin Hovers Near 200-Hour MA Support; Resistance at $56.6K — CoinDesk

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. @2021 CoinDesk English ​ Source

US dominates global Bitcoin hash rate distribution after China crackdown

Following sweeping crackdowns by China against Bitcoin mining activity, the United States has now emerged as the leading nation in terms of hash rate. According to the Cambridge Bitcoin Electricity Consumption Index (CBECI), Bitcoin (BTC) miners in America account for 35.4% of the total global BTC mining hash rate distribution. CBECI data also shows Kazakhstan (18%) and Russia (11%) as the next major Bitcoin mining centers outside the United States. These three nations have gained significant market share in the wake of China’s crypto mining ban. Back in June, Cointelegraph…

US Claims Bitcoin Mining Crown Following China Crackdown

The U.S. has become the world’s leader in bitcoin mining following the renewed crackdown of the industry in China, the Cambridge Centre for Alternative Finance (CCAF) said. The latest data show the U.S accounting for 35.4% of the global hashrate – the world’s total computational power used to mine bitcoin – as of the end of August, more than doubling from 16.8% at the end of April. Kazakhstan and Russia follow with shares of 18.1% and 11% respectively, (up from 8.2% and 6.8% in April). China’s share has “effectively dropped…

Andreessen Horowitz Plans to Meet With Washington Policymakers Over Web 3: Report — CoinDesk

“Web 3 is the alternative, it is the solution we’ve been waiting for. It is the response to the challenges that have emerged out of Web 2,” he said, referring to the current internet paradigm of user-generated content hosted by social media networks. “And for that reason, it is absolutely critical that policymakers start to undertake the steps required to get this right.” Source

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Bank Of England Seeks To Strengthen Cryptocurrency Regulations

John Culifferthe, Bank of England’s Deputy Governor, discouraged crypto’s use in the UK’s finance system. He announced earlier that although cryptocurrencies are becoming more supported within United Kingdom’s financial system, they aren’t a significant threat. However, he also recommended that enhanced regulations should be enforced as digital currencies constantly expand. Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course The bank stated in a publication that there is a need to regulate cryptocurrency at a local and an international level. Earlier in July, the bank warned…