In a policy shift, Laos has approved the mining and trading of cryptocurrencies in the Southeast Asian country. Analysts see this move as a logical step for an inland Communist-controlled country that has surplus hydropower. The debt-laden country has its domestic tourism industry severely impacted by the pandemic, and while it has a strong power […]
The post Southeast Asian Country, Laos, Authorizes Trading and Mining of Cryptocurrency first appeared on BitcoinExchangeGuide.
The company also expects to go public via a NASDAQ listing on Wednesday Bitcoin…
The post Bitcoin mining firm Greenidge merges with Support.com appeared first on Coin Journal.
Bitcoin mining still elicits debate that it consumes too much fossil fuels, which is…
The post Blockstream taps Australia’s Macquarie for green Bitcoin mining appeared first on Coin Journal.
Recognition for crypto mining will also allow the government to formally tax miners, a…
The post Russian lawmakers want crypto mining recognised under entrepreneurship law appeared first on Coin Journal.
The President of Belarus said in a meeting that citizens should mine bitcoin with the country’s abundant energy instead of seeking low wages abroad.Read More
Ishaan Thakur, 14, and his sister, Aanya, 9, earn $30,000 each month by mining bitcoin, a lucrative business scaled up during the summer.Read More
The new Proof of Work mining pool provides mining fee discounts to miners who…
The post KuCoin Pool launches to bring consistent earnings to miners appeared first on Coin Journal.
The deal with Cryptodigital Holdings will see Powerbridge Technologies acquire 2,000 BTC and 3,600…
The post Powerbridge Technologies To Acquire 5,600 Crypto Mining Machines appeared first on Coin Journal.
The company reportedly calculated its revenue from Bitcoin mining at an average price of…
The post Riot Blockchain’s mining revenue increased by 1,540% – report appeared first on Coin Journal.
According to a report from Dallas News, this sibling duo has been bringing in thousands of dollars mining Ethereum. While most kids are playing with their computers, siblings Ishaan and Aanya Thakur are making money with theirs. The bother-sister duo currently makes $32,000 a month from their Ethereum mining operation which they started in their garage. The pair had gotten interested in cryptocurrencies after their father had told them about Bitcoin. At the time, the siblings were interested in buying the cryptocurrency, but because the price had grown so much, they opted for mining. But mining for bitcoin had become an oversaturated market, they found. Hence, they opted for the second-largest cryptocurrency by market cap; Ethereum. Related Reading | Crypto Market Cap Inches Closer To $2 Trillion, What To Expect From The Market They had started by mining Ethereum using an old gaming laptop that they had. And in the first month of mining, they had made $1,000 from their small operation. This motivated the pair to take their activities to the next level, given the profits they had acquired using just an old gaming laptop. Crypto mining requires chips to mine and this is where the siblings ran into their first problem. COVID-Induced Chip Shortage Siblings Ishaan and Aanya wanted to expand their mining operations, but due to the pandemic, there has been a chip shortage. Manufacturers had not been able to keep up with demand due to countries going into lockdown and people not being able to go to work. So getting a chip required for mining has become harder than ever. The duo had two options; buy chips from resellers online at a marked-up price or wait for chips to become available. They chose the latter. Related Reading | Why A Shocking Altcoin Season Could Be On The Horizon 9-year-old Aanya and 14-year-old Ishaan signed up for supply updates from retailers like Best Buy and Micro Center. When chips and hardware needed for their mining operations were available, they would get alerted by email. And the siblings would line up outside the retailers before they opened the next day to be able to get the parts. This strategy has proven to be profitable for them as the duo has been able to expand their mining operations beyond their home garage. Their rigs were generating too much heat to stay in their home garage and so now they have an air-conditioned data center in downtown Dallas where they keep most of their mining rigs. While they still keep about 30 cards in their garage. Expanding The College Fund With Ethereum The siblings save most of their returns from mining. But they have had to sell some portions of their crypto in order to pay for things like electricity and parts to expand their mining operation. Profits from the mining operation, Ishaan explained, go to their college fund. Both siblings have dreams of becoming doctors and want to go to the University of Pennsylvania, in the case of Ishaan, and the University of New York, in the case of Aanya. And they are hoping mining Ethereum will help them fulfill their dreams of going to college. Related Reading | Ethereum Fee Burns Clocks $100 Million, Here’s Why The Burn Is Important As for the cost of electricity, their returns far outweigh the power bill they get for mining. For the previous month, they had to pay a total of $2,500 – $850 for their home electric bill and $1,650 for their data center electric bill. This might be a high power bill, but it pales in comparison to the $32,000 that the siblings are bringing in for their mining operation. Their current setup consists of 14 rigs, which have 82 processors used to mine Ethereum. Then five rigs with 12 processors which the siblings used to mine Ravencoin because these processors are not powerful enough to mine Ethereum. The siblings plan to grow Flifer Technologies, which is the name of their company and have currently ordered four additional mining rigs from China with built-in processors. Ethereum price continues to trend above $3,000 | Source: ETHUSD on TradingView.com Featured image from Dallas News, chart from TradingView.comRead More
The Australian bitcoin mining infrastructure provider bought 17,352 Avalon A1166 and A1246 machines from rig maker Canaan.Read More
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