Tag: Mining

Swan Bitcoin sues former employees for stealing trade secrets to launch rival mining firm

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Swan Bitcoin has filed a lawsuit against some of the former employees of its mining venture for allegedly stealing proprietary software and trade secrets to launch a competing firm, Proton Management. In a Sept. 25 lawsuit filed with a Los Angeles federal court, Swan alleged that six of its former staffers conspired to “harm Swan’s ability to compete in the market” by stealing what the filing dubbed as “crown jewels” from its mining business. Founded in 2019, Swan Bitcoin offers financial services for investors and branched out to the mining…

Bitdeer Completes Testing of SEAL02 Bitcoin Mining Chip

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Bitdeer Technologies Group has successfully completed prototype testing for its SEAL02 bitcoin mining chip, marking a pivotal advancement in the company’s technological development. The chip exhibited a power efficiency ratio of 13.5 joules per terahash (J/T) when operated in low-voltage mode, a key achievement in Bitdeer’s roadmap. Bitdeer’s SEAL02 Chip Achieves 13.5 J/T Efficiency in […] Original

Russian Republic Dagestan Battles Underground Crypto Mining Amid Power Outages

Dagestan, a republic in Russia, is stepping up efforts to tackle illegal cryptocurrency mining due to its impact on the power grid and public safety. Underground mining operations have caused recent infrastructure damage, including a substation fire. Officials call for stricter measures to address these issues as miners bypass regulations. Dagestan Cracks Down on Illegal […] Source CryptoX Portal

Utah Judge Rules SEC’s Case Against Alleged Crypto Mining Scam Green United Can Proceed to Trial

Green United’s founder, Will Thurston (who, along with promoter Kristoffer Krohn, is also named as a defendant in the lawsuit), allegedly used the money investors gave him for the phony Green Boxes and used it to buy S9 Antminers – commercially-available bitcoin mining machines – which he then used to mine bitcoin for himself. According to the SEC, investors didn’t see any of the actual bitcoin (BTC) their purchases mined, but instead received periodic distributions of worthless GREEN tokens created by Thurston on the Ethereum blockchain. Source

Former Monero Developer Launches New Crypto Mining App

Riccardo “Fluffypony” Spagni, a former Monero developer, has launched a new mining app called Tari Universe. The app aims to make mining accessible to everyone using a user-friendly interface. However, Spagni faces legal troubles related to fraud and forgery charges. Despite the alleged crimes occurring over a decade ago, South African authorities only took action […] Source CryptoX Portal

Bitcoin mining stocks jump as crypto fear and greed index rises

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Bitcoin mining stocks jumped by over 5% in the pre-market session as the crypto fear and greed index exited the fear zone. Mara Holdings, the largest miner by market cap, rose by almost 6%, reaching a high of $16.7. Similarly, Riot Platforms’ stock jumped by 5.3%, while Argo Blockchain climbed by 5%. Other companies like CleanSpark, TeraWulf, and Core Scientific saw similar price action. This recovery occurred as sentiment in the crypto industry improved. The closely watched crypto fear and greed index rose to the neutral point of 44, its…

Bhutan’s Bitcoin mining stash exceeds $750m: Arkham 

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Bhutan, a country with a population of under one million, ranks as the world’s fourth-largest sovereign Bitcoin owner. According to Arkham, the Kingdom of Bhutan holds over 13,000 Bitcoin (BTC) tokens valued at over $750 million as of Sept. 16. Only the U.S., China, and the U.K. have larger BTC holdings. Bhutan overtook El Salvador to claim fourth place and joined world governments that cumulatively control over 2.2% of BTC’s total supply, per CoinGecko. BREAKING: BHUTAN GOVERNMENT’S $750M BTC NOW ON ARKHAM Bhutan’s Bitcoin holdings are now labeled on Arkham.…

Bitcoin (BTC) Mining Profitability Remains at All Time Lows, JPMorgan (JPM) Says

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