Tag: Mining

Argentine Peso Plunges, Venezuela and Russia to Develop SWIFT Alternative, Bitcoin Mining Still Paused in Venezuela – Bitcoin News

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Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue: the Argentine Peso plunges against the U.S. dollar, Venezuela and Russia agree to develop a joint SWIFT alternative, and Bitcoin mining is still paused in Venezuela. Argentine Peso Plunges 10% Against the Dollar The Argentine Peso has lost more than 10% against the U.S. dollar during the last week, going from less than 400 pesos per dollar in the informal blue exchange rate to more…

WEF’s promo video shows Bitcoin mining, but leaves out the B-word

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The World Economic Forum (WEF) showcased the facilities and tech employed by a cryptocurrency mining firm and implied its operations were the “biggest winner” for the environment — but it never actually said it was mining crypto. Published on April 20, the WEF video promoted efforts toward reducing flaring — where large amounts of gas from oil production or from decomposition are wasted — by the Colorado-based Bitcoin (BTC) miner Crusoe Energy Systems. Prominent imagery of what appear to be cryptocurrency mining facilities are presented throughout the video; however, the…

WEF’s promo video shows Bitcoin mining, but it leaves out the B-word

The World Economic Forum (WEF) showcased the facilities and tech employed by a cryptocurrency mining firm and implied its operations were the “biggest winner” for the environment — but it never actually said it was mining crypto. Published on April 20, the WEF video promoted efforts towards reducing flaring — where large amounts of gas from oil production or from decomposition are wasted — by the Colorado-based Bitcoin (BTC) miner Crusoe Energy Systems. Prominent imagery of what appear to be cryptocurrency mining facilities are presented throughout the video; however, the…

Bitcoin mining difficulty hits record high, indicating network resilience

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitcoin’s mining difficulty has reached a new all-time high of 48.7T, after a 1.72% increase, according to BTC.com, demonstrating the cryptocurrency network’s resilience and tenacity. Despite the market’s recent volatility, the network’s hashrate hit an all-time high of 348.6 EH/s. This indicates that more miners are joining the network, which is positive for bitcoin’s stability and long-term health. The mining difficulty of bitcoin fluctuates frequently, but it has seen significant growth over the past year, rising…

Bitcoin’s fall meets mining milestones

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The turbulence in the crypto market has recently intensified, as bitcoin (BTC) took a nosedive below $28,000, marking a decline of over 9% from its 90-day high of $31,005 on April 14.  As of April 20, BTC hovers around $28,044, leaving investors and traders to ponder the factors contributing to this decline.  Amid this price drop, bitcoin’s mining difficulty has skyrocketed to record levels, creating a fascinating contrast that deserves further exploration. BTC 24-hour price chart…

Terawulf Energizes 50 MW at Nuclear-Powered Bitcoin Mining Facility Nautilus – Mining Bitcoin News

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Bitcoin mining company Terawulf has announced the full deployment of its 50-megawatt (MW) stake in the nuclear-powered Nautilus Cryptomine facility. The behind-the-meter bitcoin mining facility is powered by 100% nuclear power and benefits from a fixed power cost of $0.02 per kilowatt-hour (kWh), according to the company. Terawulf Fires up 50 MW Zero-Carbon Bitcoin Mining; Aims to Reach 5.5 EH/s of Capacity by Q2 2023 Just over 45 days ago, the bitcoin mining firm Terawulf announced it had energized the Nautilus Cryptomine facility, a carbon-free data center with 24/7 baseload…

Bitcoin Miners Contend With Fifth Network Difficulty Increase of 2023 – Mining Bitcoin News

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Bitcoin miners are contending with the fifth network difficulty increase since February 24, 2023, following a 1.72% rise on April 20 at block height 786,240. The network’s difficulty now stands at 48.71 trillion, marking a 22.62% increase over the last 55 days since block height 778,176. Bitcoin’s Difficulty Has Risen More Than 22% Since Block Height 778,176 In less than two months, Bitcoin’s difficulty surged by over 22% and reached an all-time high on Thursday, April 20. The current difficulty of 48.71 trillion implies an exceptionally high average hash rate…

SAI․TECH’s SAITIME 2023 Will Unveil Revolutionary Products for Mining and Computing Industry – Press release Bitcoin News

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press release PRESS RELEASE. SINGAPORE – SAI.TECH Global Corporation, a clean-tech company specializing in Bitcoin mining, heating, and power industry, hosted its virtual corporate annual conference, SAITIME 2023 on April 20th at 08:30 EST. The virtual conference was hosted by founder & CEO Arthur Lee and was live-streamed on YouTube and Zoom. Live tweets and discussions were also hosted on Twitter. The conference featured the consolidation of the SAIHUB solution, which aims to build a cleaner world through the green transition of the computing industry and the research and promotion…

Bank of Russia to set up entities for crypto mining and cross-border settlement: Report

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Russia is taking further steps to mitigate global sanctions in place since the invasion of Ukraine in 2022. According to local media reports, the country’s central bank plans to create new institutions to mine crypto assets and settle international payments.  In a meeting in the State Duma — one of the chambers of the Russian parliament — the head of the central bank, Elvira Nabiullina, announced that the Bank of Russia would allow cryptocurrency to be used in external settlements in a pilot program. The move, however, does not signal…

Intel Discontinues Sale of Bitcoin Mining Chips in Major Setback to Crypto Miners

Within a year of launching its Blockscale 1000 Series ASICs, Intel has continued to discontinue this product but shall take orders for the same up to October 20, 2023. A year after Intel officially announced the sale of its Bitcoin mining Blocksale ASICs, the company finally took the decision to discontinue the sale of its Bitcoin mining chips. As per the announcement on Tuesday, Intel said that the last product to be shipped shall be no later than April 20, 2024. The development comes at a time when there’s growing…