SBI Group Sets Up Spin-Off to Manufacture Crypto Mining Chips

Japanese financial giant SBI Group has created a dedicated subsidiary that will manufacture cryptocurrency mining chips, the company confirmed in a notice on March 22. SBI, which has launched spin-offs covering various aspects of the cryptocurrency industry, now says it wishes to expand its influence in the mining sector through the creation of SBI Mining Chip Co., Ltd. (SBIMC). The company will join industry stalwart manufacturers, chief among which is Bitmain, which released its latest product this week. “The SBI Group strongly promote [sic] on a wide range of businesses…

Bitmain Plans to Set Up 200,000 Crypto Mining Machines in China

Cryptocurrency mining giant Bitmain is reportedly planning to set up 200,000 units of mining equipment in China to benefit from low-cost hydroelectric power in the country, crypto media outlet CoinDesk reported on March 21. A source from China familiar with the matter reportedly told CoinDesk that Bitmain will install 200,000 units of their own mining machines to take advantage of cheap hydroelectric power costs during the summer following the excessive rains in southwestern China. The mining equipment is estimated at around $80 million to $100 million. The crypto mining giant…

Russian Police Deny Covert Confiscation of 2 Billion Rubles, Mining Equipment

Russian Police Deny Covert Confiscation of 2 Billion Rubles, Mining Equipment March 18, 2019 by Jeff Fawkes On March 14th, 2019, police confiscated cryptocurrency mining equipment and “large amounts of cash” from Sadovod and Moscow trading centers in the city of Moscow, according to a TASS police informant’s anonymous news tip. However the next day police officially denied the confiscation, adding a 2 billion ruble ($31 million USD) figure that wasn’t mentioned in the TASS report. Also read: Lawyer: People Increasing VPN, Tor Use to Avoid Media and Crypto Censorship We…

Businesses Increasingly See Crypto Mining Attacks in Cloud Infrastructures

Cryptocurrency mining is reportedly one of the most observed objectives of hackers attacking businesses’ cloud infrastructures, according to a report by AT&T Cybersecurity on March 14. The cybersecurity wing of United States telecoms firm AT&T stated that organizations of all sizes continue to face major crypto mining attacks despite the ongoing bear market. In the new report, AT&T examined the most significant forms of cryptojacking associated with mining attacks on organizations’ cloud infrastructure. AT&T outlined four major cryptojacking tactics used by hackers such as compromising container management platforms, control panel…

As ProgPoW Aimed at Stopping ASIC Mining Gets Supporting Votes, New Conspiracies and Debates Appear

Ethereum (ETH) network users have unanimously supported the ProgPoW algorithm, which is expected to make the platform resistant to application-specific integrated circuit (ASIC) miners. Initially, opponents of the update prevailed over supporters by a margin of 96 percent, according to a Cointelegraph report on Feb. 15. The current scenario is exactly opposite, with 94 percent of voters favoring the implementation of ProgPoW, as evidenced by the Etherchain charts. What is ProgPoW? Simply put, ProgPoW is a version of the proof-of-work (PoW) algorithm, which is supposed to smooth the transition of…

Ethereum’s ProgPoW Mining Change to Be Considered for Istanbul Upgrade

The code designed to enact ethereum’s next system-wide upgrade, Istanbul, may feature the inclusion of a controversial mining algorithm said to allow for broader participation in its network. Discussed Tuesday during a meeting of project managers working on the world’s second-largest blockchain, Ethereum Improvement Proposal (EIP) 1057, also known as Progressive Proof-of-Work (ProgPoW), has been long debated. On one side are those who believe it will limit large miners from dominating the $655 million annual market for new ether issuance, on the other are those who believe it does not go far…

Ethereum User Who Accidentally Paid $365,000 Fee Splits Loss With Mining Pool Sparkpool

Ethereum (ETH) mining pool Sparkpool confirmed it had come to an arrangement with a user who accidentally sent it over $300,000 in mining fees on March 11. The mix-up, which occurred on Feb. 19, involved an Ethereum user apparently confusing the fields required to send an ETH transaction. Three transactions broadcast to the Ethereum network with a combined total mining fee of 2,730 ETH (currently worth about $365,800). While the circumstances behind the event remain unknown, Sparkpool subsequently agreed to refund half of the the 2,100 ETH mining fee, which…

The most profitable Bitcoin Cloud Mining – 50% discount on all contracts !

Most people at this time when the bear market is they think it’s still profitable to do mining Bitcoin? We can confirm that it is still profitable mining Bitcoin with the leading cloud mining company MiningSky.io As one of the leading and one of the most legit companies in the world MiningSky.io is ready to give 50% discount via EthereumWorldNews to their customers which will be available for the next 48 hours.. For example if you buy a hash power for $10,000 you only pay $5,000 when you redeem discount…

The most profitable Bitcoin Cloud Mining – 50% discount on all contracts !

Most people at this time when the bear market is they think it’s still profitable to do mining Bitcoin? We can confirm that it is still profitable mining Bitcoin with the leading cloud mining company MiningSky.io As one of the leading and one of the most legit companies in the world MiningSky.io is ready to give 50% discount via EthereumWorldNews to their customers which will be available for the next 48 hours.. For example if you buy a hash power for $10,000 you only pay $5,000 when you redeem discount…