Tag: Mining

KuCoin suspends Bitcoin and Litecoin mining pools

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied KuCoin, an exchange with over 20 million clients, will pause its Bitcoin and Litecoin mining pools on Aug. 16 as part of a shift towards its core business focus. Recent layoffs, rumored to have affected almost 30% of its workforce, prompted the move. The KuCoin Bitcoin mining pool’s hash rate currently stands at 9.60 EH/s. KuCoin changing tactics In an Aug. 1 announcement, KuCoin said it will temporarily suspend its pool service from Aug. 15, 2023, at…

Gideon Powell on the Pioneer Spirit Driving Bitcoin Mining

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“Thinking about this from a capability standpoint, the compute cowboys are unlocking new power markets for data centers and thinking about the future of industrial manufacturing. It’s all in its infancy,” Powell said. For many in the oil and gas industry, like Powell, whose family is also in the business, the mid-century energy explorers have risen to semi-mythological status. They’re a bit like the gauchos of the South American pampas, only that the wildcatters’ business built the modern world, Powell said. Original

Amid Sanctions, Bitcoin Mining Machines Are ‘Flowing’ Into Russia, as Industry Thrives

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None of the “sanctions targeting Russia completely prohibit involvement in the mining sector,” said David Carlisle, vice president of policy and regulation at Elliptic, a blockchain analytics firm. Still, there are “significant risks” for firms operating in Russia’s mining sector: they can’t do business with sanctioned entities including mining hosting firm BitRiver, or make payments to state banks and companies, Carlisle added. Original

Hydropowered crypto mining gets nod from Kyrgyz president: Report

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The Kyrgyz Republic, a central Asian state bordering China, is reportedly growing its cryptocurrency mining powers with support of the local government. Kyrgyz President Sadyr Japarov has given a nod to building a crypto mining farm at a hydroelectric power plant, Kyrgyzstan’s national news agency Kabar reported on July 27. The government of Kyrgyzstan plans to spend up to $20 million to build a cryptocurrency mining facility at the Kambar-Ata-2 Hydro Power Plant. According to the president, running a crypto mining farm will allow the government to avoid energy losses…

Crypto mining hardware retailer Phoenix Technology mulls IPO in UAE: Report

Crypto mining hardware provider Phoenix Technology is reportedly starting discussions to conduct an initial public offering (IPO) in the United Arab Emirates, according to a report by Bloomber.  The Bloomberg report cites anonymous sources who explained that discussions around the matter are still ongoing and the details are not yet finalized. Phoenix Technology is a UAE-based mining operator which is developing one of the largest mining facilities within the Middle East. The company has distribution rights for various tech hardware manufacturers throughout the Middle East, Africa and Turkey.  Cointelegraph reached out to Phoenix…

Mining Bitcoin Is an Act of Freedom

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If this sound overly philosophical, Arendt saw things in a practical light. Humans, Arendt said, are at their fullest when they are politically engaged, when they step into the public realm and take part in the community’s decisions. Similarly bitcoin miners are not mere participants but active contributors in a network, and the work they do shapes the ecosystem’s present and future. Original

Enhancing Profitability of Wind and Solar Through Bitcoin Mining

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In conclusion, the “Duck Curve” phenomenon presents a unique challenge in the renewable energy sector, but it also opens up an opportunity for innovative solutions. By absorbing the excess energy during periods of high renewable generation and low demand, Bitcoin mining can help balance the energy market, stabilize electricity prices, and enhance the profitability of renewable energy installations. Original