Rampant energy costs at the facility, which uses electricity bought on the spot market, have eaten into profitability this year. The margin, which stood as high as 74% in January, had sunk to 37% by July. The company is trying to secure a long-term, fixed-price power purchasing agreement to lower its exposure to volatility in energy markets. Source
Ethereum is just over a week away from officially moving to a proof-of-stake (PoS) blockchain with the Merge slated for completion around Sept. 13–15. With the transition, Ethereum would abandon its current proof-of-work (PoW) chain, eliminating miners from the ecosystem. Ethereum is a vast ecosystem with thousands of decentralized applications and decentralized finance protocols working on top of it. Additionally, there are several layer-2 solutions, i.e., solutions built on top of the blockchain itself, the layer 1, to facilitate faster transactions and make Ethereum more scalable. The Merge would mark…
Fireblocks connects to some 35 blockchain networks and works with an array of Web3 companies including Animoca, MoonPay, Xternity Games, Griffin Gaming, Wirex and Utopian Game Labs. The latest Solana integration uses WalletConnect V2, a protocol for bridging decentralized apps, upgraded to securely enable vault connections to non-EVM chain dApps, according to a press release. Source link
According to a Monday press release, Lemniscap led the seed funding round with support from Coinbase Ventures, Blockchain Capital, Distributed Global, Lattice, Arweave, Bering Waters, Maven11 and SevenX Ventures. RedStone, which currently delivers data feeds to more than 30 blockchains, including Ethereum, Avalanche and Polygon, will use the funds to expedite the rollout of its latest product suite with the aim of improving connectivity between blockchains and real-world data. Source
sponsored A new report by the Crypto Carbon Ratings Institute (CCRI) showcases the environmental sustainability of the TRON network. According to the “Energy Efficiency and Carbon Footprint of the TRON Blockchain” report, the highly popular TRON network only consumes as much electricity as just fifteen average U.S. households. The Environmental Sustainability of the TRON Network The electricity consumption and related carbon footprint of Bitcoin and other cryptocurrencies have been subject to extensive discussion in public, academia, and industry. Various estimations exist, comparing Bitcoin and other cryptocurrencies’ electricity consumption to various…
Climate change has become an important issue over the years due to concerns over environmental changes caused by the emission of greenhouse gasses into the atmosphere. Conversations have even reached the crypto space, and blockchain technology is being considered a potential tool to reduce carbon emissions. Cryptocurrencies like Bitcoin (BTC) and Ether (ETH) that use the proof-of-work (PoW) mining algorithm have come under scrutiny due to their alleged energy expenditure. To see where this scrutiny comes from, it first needs to be known how much energy is used when mining PoW…
“The way in which crypto is used has shifted. Individual crypto assets and blockchains are no longer isolated systems and have become part of a larger, interconnected crypto economy,” Tom Robinson, co-founder and chief scientist at Elliptic, said. Source
Crypto mining firm Riot Blockchain reported it produced fewer Bitcoin (BTC) in July 2022 than that in July 2021 after scaling down operations at its Texas facility. In a Wednesday announcement, Riot said its miners had produced 318 Bitcoin in July, more than 28% less than the 443 BTC the firm reported generating in July 2021. According to Riot CEO Jason Les, the firm curtailed operations by 11,717 megawatt-hours in July in response to increasing demand on Texas’ energy grid. Many parts of the Lone Star State experienced several days with temperatures…
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Michael Alan Stollery, CEO of Titanium Blockchain Infrastructure Services Inc. (TBIS), has admitted of involving multiple fraudulent accounts in a 2018 initial coin offering (ICO). In May 2018, Stollery and his company were charged by the U.S. Securities and Exchange Commission (SEC) with conspiracy to defraud investors. Stollery admitted that he had conspired to defraud millions of cryptocurrency investors through ICOs. And by forging the white paper of TBIS’s ICO, implanted false customer recommendations to create ICO’s planned marketing activities and legitimacy and publishing misleading and false information with development…