Tag: Mining

A complete guide to mining LTC

Litecoin is an early-stage altcoin developed by a former Google Engineer, Charlie Lee in October 2011. Lee wanted to create a cryptocurrency faster than Bitcoin and easily accessible, with the aim to process a block in every two and a half minutes compared to ten minutes of bitcoin.  So, let’s look at how to mine Litecoin. What is Litecoin mining and how does it work?  Mining Litecoin (LTC) is what keeps everything in check. Think of miners as the guardians of the system, using their computers to solve puzzles that…

Today’s PoW Mining Marvels: Scrypt Takes the Throne as 2024’s Top Algorithm

During the opening week of the year, the Kheavyhash algorithm—used for mining kaspa (KAS)—topped the profitability charts among proof-of-work (PoW) algorithms. Fast forward to today, and Scrypt has claimed the crown as the most lucrative choice for miners, particularly those extracting dogecoin (DOGE) and litecoin (LTC). Mining Algorithms Push Limits in a Historic Year As […] Source CryptoX Portal

Russia Enacts Ban on Crypto Mining Operations in 10 Regions, Hints at Expansion

Russia recently enacted a ban on crypto mining operations in 10 regions until 2031, citing high energy consumption issues as the cause. Deputy Prime Minister Alexander Novak stated that this list might expand. Russia Issues Crypto Mining Restrictions in 10 Regions The future of cryptocurrency mining in Russia is in jeopardy. The Russian cabinet recently […] Source CryptoX Portal

Bitcoin’s mining supply slipped below the 1.19m threshold on the brink of wider adoption

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The year 2024 has been filled with major milestones for Bitcoin, from reaching new all-time highs to several governments mulling a Bitcoin reserve. However, data reveals that there are less than 1.19 million BTC left to be mined. Unmined Bitcoin is becoming even more scarce in terms of remaining supply as more of the world begins to warm up to the idea of adopting Bitcoin (BTC) on a wider scale. Data from Clark Moody revealed that there were only 1,198,640.60 BTC left unmined by Dec. 26. Meanwhile, as much as…

Russia to Control Crypto Mining Activities by Region in 2025

Russia’s government has published a draft resolution on banning or providing restrictions on mining locally. The ban will take effect on Jan. 1, 2025, and run until Mar. 15, 2031. According to TASS, the mining ban will take place in Dagestan, Ingushetia, Chechnya, Kabardino-Balkaria and North Ossetia. The ban will include mining and participation in pools. The order has also not been entered into force in Luhansk and Donetsk People’s Republics, as well as some localities of Zaporizhia and Kherson. The same restrictions will also extend to certain sites in…

Bouncing Lows, Mining Woes, and Fartcoin Highs

Last week was marked by bitcoin’s resilience and worries about mining centralization. Fartcoin’s rise to an all-time high added an unexpected layer of humor. This editorial is from last week’s edition of the Week in Review newsletter. Subscribe to the weekly newsletter to get the editorial the second it’s finished. From Mining Centralization Worries to […] Source CryptoX Portal

From Oilfields to Crypto Fields: Halliburton Invests in Bitcoin Mining Startup

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Halliburton, the world’s second-biggest oilfield services firm, has taken a step into the bitcoin (BTC) mining space by investing in Austin-based startup 360 Energy. The move, made through Halliburton Labs, was highlighted in a report from Blockspace Media. Transforming Stranded Gas into Blockchain Power 360 Energy, also known as 360 Mining, has joined Halliburton Labs’ […] Original

Bitcoin’s Price Drives Up Mining Equipment Costs by 30%

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Bitcoin’s recent price surge has driven up mining equipment costs, with Shenzhen’s Huaqiangbei district—a global hub for crypto hardware—seeing a notable 30% price hike.   According to a report by Wen Wei Po, the price of the Antminer S21 335T, a mining device, has now reached $5,600, or around RMB 40,700, climbing up by 30% compared to last year’s price of $3836.19, which comes to 28,000 RMB. There is even much higher demand for the Antminer S21 XP, a raw mining device with water-cooling facilities, which has continued to cause stockouts…