Day: August 8, 2022

Australia-based crypto miner doubles hash rate after energizing Canadian rigs

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Australian Bitcoin miner Iris Energy said it had increased its hash rate to more than 2.3 exahashes per second following the completion of phase two of its operations in Mackenzie, Canada. In a Monday announcement, Iris Energy said it had brought 41 megawatts of operating capacity in the British Columbia municipality online roughly two months ahead of schedule, adding 1.5 EH/s to its existing hash rate. In addition, the Bitcoin (BTC) miner expects to bring another 50 MW online in Prince George by the end of the third quarter of…

Dave Portnoy’s SafeMoon position is down 94%, claims he’s being sued by project

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Barstool Sports founder Dave Portnoy has watched his investment in SafeMoon (SAFEMOON) crash by over 94%, proving to crypto enthusiasts that he is, in fact, capable of hodling during the bear market.  The stock trader and media personality took to Twitter Monday to lament his $40,000 investment in the meme coin, which has fallen to just $2,370.94 after he didn’t withdraw a single token. “Still holding by the way,” Portnoy said. “Diamond hands.” I put 40k into @safemoon I haven’t withdrawn any. It’s not worth 2.3k. And I’m being sued.…

Circle freezes blacklisted Tornado Cash smart contract addresses

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Crypto data aggregator Dune Analytics said that, on Monday, Circle, the issuer of the USD Coin (USDC) stablecoin, froze over 75,000 USDC worth of funds linked to the 44 Tornado Cash addresses sanctioned by the U.S. Office of Foreign Assets Control’s Specially Designated Nationals and Blocked Persons (SDN) list. Tornado Cash is a decentralized application, or DApp, used to obfuscate the trail of previous cryptocurrency transactions on the Ethereum blockchain.  All U.S. persons and entities are prohibited from interacting with the virtual currency mixer’s USDC and Ethereum smart contract addresses…

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Tornado Cash co-founder reports being kicked off Github as industry reacts to sanctions

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Roman Semenov, one of the co-founders of Tornado Cash, has reported his account suspended at developer platform GitHub following the United States Treasury Department’s sanctioning of the privacy protocol. In a Monday tweet, Semenov said that despite not being individually named as a Specially Designated National, or SDN, of Treasury’s Office of Foreign Asset Control, he seemed to be facing repercussions from the Treasury alleging Tornado Cash had laundered more than $7 billion worth of cryptocurrency. As SDNs, identified firms and individuals have their assets blocked and “U.S. persons are generally…

Market Wrap: Bitcoin Climbs Above $24K

Bitcoin’s gains have for the most part dovetailed with traditional markets. On Monday, the Dow Jones Industrial Average rose 0.09%. The tech-heavy Nasdaq Composite Index, meanwhile, fell 0.10% and the S&P 500 slipped 0.12%. Correlations between BTC and the three indexes remain above 0.60, indicating a strong relationship between BTC price movements and stocks. Source

Bitcoin Miner Marathon to Start Energizing Texas Rigs at Compute North Facility

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Compute North has now energized 40 megawatts (MW) of a 280 MW wind powered facility in Upton County in West Texas, according to the Monday earnings release. Marathon will be the exclusive client of this site, which is Compute North’s fifth TIER 0™ site, said the statement. The rest of the 280 MW will be coming online in phases, with “full energization autumn 2022,” Dave Perrill, CEO and co-founder of Compute North told CoinDesk. Original

Ethereum Co-Founder Vitalik Buterin Downplays Ethereum PoW Fork, Hopes It ‘Doesn’t Lead to People Losing Money’ – Bitcoin News

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Ethereum co-founder Vitalik Buterin recently discussed what he thinks about the recent Ethereum proof-of-work (PoW) fork topic that’s been finding its way into a number of conversations within the crypto community. Buterin remarked at the ETH-Seoul conference over the weekend, that he believes the people introducing the forked token concept are basically a “couple of outsiders” that “mostly just want to make a quick buck.” Vitalik Buterin Gives His Opinion on the Proposed Ethereum PoW Fork Idea A lot of people within the crypto community have been discussing a possible…