Tag: Mining

Jack Dorsey’s Block Unveils Plans for Its DIY Bitcoin Mining Development Kit

The MDK would be useful for integrating Bitcoin mining into multiple use cases such as heating solutions, off-grid mining, home mining, or intermittent power applications Jack Dorsey‘s Block Inc. has been o a mission to democratize the Bitcoin mining industry and reduce the barrier to entry for new individuals joining the space. On Tuesday, March 7, Block Inc. announced that it’s planning to build a ‘Mining Development Kit,’ or MDK for users. With its do-it-yourself kit, Block Inc. is hopeful to spur innovation in the Bitcoin mining hardware. Back in…

Compass Mining Alerts Bitcoin Miners of Changes in Bitmain’s ASIC Design – Mining Bitcoin News

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Compass Mining, a bitcoin mining firm, published a blog post stating that Bitmain, the company behind the application-specific integrated circuit (ASIC) mining rig, has made changes to its design. The post advised miners to be aware of the changes as Compass Mining identified “three issues” with two different Antminer S19 series mining devices. Bitcoin Miner Compass Mining Identifies 3 Issues with Antminer S19 Series Compass Mining, a bitcoin mining company, posted a blog post titled “Bitmain Changed Its ASIC Design. Miners Need to Be Ready,” highlighting changes in Bitmain’s ASIC…

Jack Dorsey’s Block asks for input on proposed ‘mining development kit’

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Payments company Block, formerly known as Square, is delving deeper into the crypto mining industry with potential plans to build a “mining development kit.” A Mar. 7 blog post revealed that the Jack Dorsey-founded multinational technology firm was mulling its latest vision for advancing its Bitcoin (BTC) mining ambitions. Senior product lead for mining hardware, Naoise Irwin, asked for feedback on the concept via email. The mining development kit (MDK), if it goes ahead, will provide a “suite of tools” to developers with the aim of increasing the “accessibility and…

Argo Blockchain Continues To Increase Bitcoin Mining, Outpacing Difficulty Growth

The crypto market remains in the bear zone, even after several months. In the last week, major coins, such as Bitcoin and Ethereum have seen a decline; for now, it’s impossible to determine the outcome in the nearest future. But certain firms are still thriving amid the current state of the market. A notable example is Argo, a popular UK-based Bitcoin mining company. Argo Blockchain is one of the leading cryptocurrency mining companies in North America and Europe. Argo Increases Bitcoin Production On Tuesday, Argo announced an increase in its Bitcoin…

TeraWulf Kickstarts Bitcoin Mining at Nautilus Cryptomine Facility with 8,000 Rigs

TeraWulf is currently on an aggressive expansion and is planning to have a total operational capacity of 50,000 miners (5.5 EH/s) in early Q2 2023, which is nearly 160MW of power demand. US-based Bitcoin mining firm TeraWulf recently inaugurated a new crypto-mining facility in Pennsylvania that solely runs through on-site nuclear power generated. In a statement on Monday, March 6, TeraWulf stated that the Nautilus Cryptomine facility is the first “Behind the meter” Bitcoin mining facility. It means that it directly uses the energy generated on-site instead of getting it…

8,000 rigs spool up in Nautilus mining facility

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United States-based Bitcoin mining company TeraWulf has fired up a new crypto mining facility in Pennsylvania — solely running on nuclear power generated on-site.  In Mar. 6 statement, TeraWulf said the Nautilus Cryptomine facility is its first “behind the meter” Bitcoin (BTC) mining facility, which refers to using energy directly at the generation site without traveling through the grid. It’s official…The first nuclear-powered mining facility in the U.S. is hashing!!! $WULF https://t.co/tLndh2bKOz@BitcoinMagazine @BTCTN @keremkaradagcom @crypto @decryptmedia @benzingacrypto @BTC_Archive — TeraWulf (@TeraWulfInc) March 6, 2023 The Nautilus Cryptomine directly sources carbon-free…

SEC accuses Utah firm of ‘fraudulent’ $18M crypto mining scheme

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Software and crypto mining equipment offered by the Utah-based Green United LLC was part of an $18 million “fraudulent scheme” that never mined the crypto it said it would, according to allegations by the United States Securities and Exchange Commission (SEC). The regulator filed a complaint in a Utah District Court on Mar. 3 against Green United, its founder, Wright Thurston, and a contracted promotor Kristoffer Krohn. It alleges the company and the two representatives fraudulently offered securities between April 2018 and December 2022 by selling investments in $3,000 “Green…

Terawulf Energizes First Nuclear-Powered Bitcoin Mining Facility in the US, Plans to Expand Operations – Mining Bitcoin News

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Terawulf, a bitcoin mining operation, has announced that it has energized the first nuclear-powered bitcoin mining facility in the United States at the company’s Nautilus Facility in Pennsylvania. According to the company, approximately 1 exahash per second (EH/s) or close to 8,000 application-specific integrated circuit (ASIC) bitcoin miners are now online, and another 8,000 mining rigs will be delivered shortly. Nuclear-Powered Bitcoin Mining — A Milestone for Carbon-Free Bitcoin Mining Terawulf announced on Monday that the first behind-the-meter bitcoin mining facility powered by nuclear energy has been energized, with nearly…

SEC Accuses Utah-Based Green United of Running $18M Crypto Mining Scam

According to the SEC’s complaint, Green United and two individuals – the company’s founder, 46-year-old Utah resident Wright Thurston, and its main promoter, 43-year-old Utah resident Kristoffer Krohn – offered investments in $3,000 “Green Boxes,” specialized crypto mining machines that purported to mine GREEN tokens on the Green Blockchain. Source