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Category: Bitcoin mining

Bitcoin (BTC) Price Tops $62,000 After Jack Dorsey Announces Bitcoin Mining Plans

The world’s largest cryptocurrency Bitcoin (BTC) is showing solid strength and has gained another 5% to soar past $62,000 levels moving pretty closer to its all-time high. As of press time, BTC is trading 4.53% up at $62,101 with a market cap of $1.16 trillion. On-chain data provider Santiment reports that the dormant BTC is

The post Bitcoin (BTC) Price Tops $62,000 After Jack Dorsey Announces Bitcoin Mining Plans appeared first on Coingape.

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Green Energy Bitcoin Miner, MintGreen, to Supply Heat to 100 Homes in Canada

A Canadian company is looking to change the narrative around Bitcoin mining by using energy for the public good. Earlier this week, MintGreen – a green energy Bitcoin mining firm – announced that it had agreed to supply heat generated from crypto mining to over 100 residents in North Vancouver. In its press release, MintGreen […]

The post Green Energy Bitcoin Miner, MintGreen, to Supply Heat to 100 Homes in Canada first appeared on BitcoinExchangeGuide.

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BTC.com Withdraws from China, AntPool Suspends IP Access, & Tencent Bans 1,000 WeChat Accounts

Bitcoin mining pool BTC.com announced on Friday that it is withdrawing from the Chinese market on October 15, 2021. It would no longer provide its mining services to users in mainland China to “comply with the latest regulatory policy requirements of the Chinese government.” Starting today, the registration of new users in mainland China will […]

The post BTC.com Withdraws from China, AntPool Suspends IP Access, & Tencent Bans 1,000 WeChat Accounts first appeared on BitcoinExchangeGuide.

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Cipher Mining to Spend Up to $350 Million In Massive Capacity Expansion

Cipher Mining has joined the list of companies looking to redistribute the global hashrate – especially in the United States. This week, the U.S.-based mining firm announced a massive, nine-figure deal to expand its capacity. In a Form 8-K filing with the United States Securities and Exchange Commission (SEC) earlier this week, Cipher Mining confirmed […]

The post Cipher Mining to Spend Up to 0 Million In Massive Capacity Expansion first appeared on BitcoinExchangeGuide.

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Cipher Mining to Spend Up to $350 Million In Massive Capacity Expansion

Cipher Mining has joined the list of companies looking to redistribute the global hashrate – especially in the United States. This week, the U.S.-based mining firm announced a massive, nine-figure deal to expand its capacity. In a Form 8-K filing with the United States Securities and Exchange Commission (SEC) earlier this week, Cipher Mining confirmed […]

The post Cipher Mining to Spend Up to 0 Million In Massive Capacity Expansion first appeared on BitcoinExchangeGuide.

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Crypto Ban: China to Investigate Government Executive’s Illegitimate Crypto Mining

The Central Bank of China earlier this month issued a new set of crypto crackdown guidelines which is being seen as the most comprehensive one to date. The draft law deemed all crypto-related transactions illegal, ordered authorities to crackdown and remove small and medium mining operations being carried on in homes and rural provinces, and

The post Crypto Ban: China to Investigate Government Executive’s Illegitimate Crypto Mining appeared first on Coingape.

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Bitcoin Mining Maker Bitmain Officially Halts Shipping to China, Hash Rate Up Over 130% from June-low

Bitmain, one of the largest bitcoin mining machine manufacturers, has confirmed that it will stop shipping antminer to mainland China. “From October 11, 2021, Antminer will stop shipping to mainland China (excluding Hong Kong and Taiwan),” said Bitmain in an official statement made on its WeChat account. This suspension comes after the People’s Bank of […]

The post Bitcoin Mining Maker Bitmain Officially Halts Shipping to China, Hash Rate Up Over 130% from June-low first appeared on BitcoinExchangeGuide.

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Bitcoin Mining Company BitFury Plans One of the Largest Public Listings In Europe

Bitcoin mining firm BitFury is all preparing for one of the largest public listings in Europe within the next 12 months. As per the latest report from The Telegraph, Bitfury is looking ahead at a valuation of a billion pounds. The BitFury Group is reportedly working with financial auditing giant Deloitte for reviewing its readiness to launch

The post Bitcoin Mining Company BitFury Plans One of the Largest Public Listings In Europe appeared first on Coingape.

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Can Bitcoin Save the Planet? This Lawmaker Highlights How BTC’s Mining Narratives Can Change

There has been a lot of criticism about Bitcoin (BTC), and the process of generating new coins through mining, which governments and even industry veterans claim are energy-intensive. The current view on the high energy demands of BTC has pushed China to crack down on mining activities by sending out all miners in the country.

The post Can Bitcoin Save the Planet? This Lawmaker Highlights How BTC’s Mining Narratives Can Change appeared first on Coingape.

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Crypto Crackdown: Bitmain to Stop Shipping Antminers to China This October

Bitmain, the largest Bitcoin mining equipment manufacturer in China has announced it will stop shipping its flagship product, the Antimer, to China in response to the regulatory crackdown ongoing in the country.  As announced by the firm, the suspension of its Antminer shipping will commence on Monday 11th of October, and it will only affect

The post Crypto Crackdown: Bitmain to Stop Shipping Antminers to China This October appeared first on Coingape.

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Bitcoin Mining In The U.S.: 4 States Attract The Most Miners

Dataset from Foundry shows that four states in the U.S. have the highest Bitcoin hash rate distribution. The dataset shows that many Bitcoin miners are headed to New York, Kentucky, Georgia, and Texas. Foundry U.S. is the largest mining pool in North America and the fifth-largest globally. The hash rate is a measure of collective mining power. A mining pool enables miners to combine their hashing power with other miners all over the world. Bitcoin Mining In The U.S. According to the data, within the U.S., New York accounts for 19.9% of bitcoin’s hash rate, 18.7% in Kentucky, 17.3% is in Georgia, and 14% in Texas. Source: Foundry U.S. At the Texas Blockchain Summit in Austin on October 8, 2021, Nic Carter, co-founder of Castle Island Ventures, presented Foundry’s data. “This is the first time we’ve actually had state-level insight on where miners are unless you wanted to go cobble through all the public filings and try to figure it out that way,” He added that “This is a much more efficient way of figuring out where mining occurs in America.” However, Carter pointed out that the Foundry dataset does not consider all the U.S. mining hash rates as not all U.S.-based mining farms use its services. One of the largest publicly traded mining companies in America, Riot Blockchain, with a huge presence in Texas, does not use Foundry. Therefore, the dataset does not account for its hash rate. Texas’ mining presence is understated and could possibly be higher than the 14% quoted. BTC trading at over $55K | Source: BTCUSD on TradingView.com Many of the states with the highest Bitcoin hash rates also have high proportions of renewable energy. This fact may have started changing the narrative that bitcoin is bad for the environment. Related Reading | $425bn Wiped Off Crypto Market As Musk Says Bitcoin Is Bad For The Environment According to CNBC, a lot of the miners are moving to these states because they have cheap and renewable sources of power. Data from the U.S. Energy Information Administration (EIA) shows that a third of New York’s in-state generation comes from renewables sources. Kentucky, which has the second-highest hash rate, is also known for its hydroelectric and wind power. The state’s government recently passed a law that grants certain tax exemptions to crypto mining operations. Carter also said that the migration of miners to the U.S. is positive because it means much lower carbon intensity. Texas Leads Bitcoin Mining Although Texas ranks fourth according to the data, experts believe it is the top mining destination in the U.S. The state houses mining giants like Riot Blockchain, and the Chinese mining service platform Bitdeer. A report from earlier this year shows that large orders for mining ASICs are also being delivered to Texas. Related Reading | Bitcoin Mining Moves to Texas, Bitmain Announces Partner for Massive New Facility Crypto-friendly lawmakers, a deregulated power grid with real-time spot pricing, and access to significant renewable energy, as well as stranded or flared natural gas, are what make Texas attractive to miners, according to CNBC. Featured image by Finance Magnates, Chart from TradingView.com
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