Samsung’s Blockchain SSD Patent Could Disrupt Crypto Mining

Electronics giant Samsung filed for a patent in May 2019 titled, “Programmable Blockchain Solid State Drive and Switch.” Even though few details are known about the newly designed system, a surge in patent applications filed by large corporations on blockchain is clearly visible. Related: Bank of America’s Blockchain Foray: Patent Trolling or Hedging Risks? Patent wars — i.e., battles between corporations or individuals to secure patents for litigation — are certainly not new. They have been widely practiced in the tech ecosystem since the times of Alexander Graham Bell at…

Real-Time Strategy Game for Mining ‘Crypto Gold’ Launches on WAX

The online real-time economic strategy game, Prospectors, will be launching on the Worldwide Asset eXchange (WAX). Prospectors blockchain game lands on WAX In a Sept. 17 blog post, WAX announced that one of the largest dApps in the world, The Prospectors, is launching on the WAX blockchain, which users buy physical and virtual items using WAX tokens. This blockchain-based decentralized strategy game set during the 19th-century gold rush launched on EOS in late June 2019. Notably, the game’s designers plan for it to become fully autonomous over time.  Arielle Brechisci,…

Will Bitcoin Mining Confidence Cause A BTC Price Spike To $28k?

Data from blockchain.com shows Bitcoin’s hash rate is at all-time-high. Last week, it peaked at 98.5 quintillion hashes per second. In addition, according to the mining pool, BTC.com, mining difficulty is also at its highest ever level at 11.9 T. All in all, miner’s confidence, in Bitcoin, has never been higher, which is indicative of a project here for the long term. And, some might say, a bullish indicator. Confidence In Bitcoin Has Never Been Higher Hash rate refers to the computing power supporting the network by way of transactional…

Chinese Authorities Plan Crackdown on Crypto Mining in Inner Mongolia

Regulators in the Chinese autonomous province of Inner Mongolia have issued a notice demanding a clean-up of the province’s crypto mining enterprises. Terms of notice As local crypto outlet ChainNews reported on Sept. 14, five departments within Inner Mongolia have determined the need to rectify the mining industry within the province. The organizations named were the Development and Reform Commission, the Public Security Department, the Office of the Ministry of Industry, The Financial Office and the Big Data Bureau. According to the report, the regulators’ position is that “The virtual…

Crypto Mining Supply Fails to Meet Market Demand in Q2: TokenInsight

The supply of crypto mining machines failed to meet market demand in Q2 2019 despite the surge of mining hardware prices, new research says. Popular suppliers ran out of stock in Q2 Bitcoin (BTC) miner market saw significant inflation during Q2 2019, with the majority of miners from various suppliers experiencing shortages, according to Q2 2019 cryptocurrency mining industry report by crypto analytics firm TokenInsight. In the report, released on Sept. 13, the San Francisco-based crypto data supplier wrote that the mining equipment market still performed quite well in Q2…

New Mining Difficulty Metric Points to $31K Bitcoin Price by 2021

Bitcoin (BTC) price should hit $30,000 during its current price cycle, new data based on mining difficulty suggests. Published by well-known analyst PlanB on Sept. 10, the statistics combine Bitcoin price as a percentage of difficulty lows, along with the number of blocks since the last low. The difficulty is a measure of how difficult it is to find a hash below a given target. Simply put, it measures the complexity of the equations miners must solve in order to validate blocks of Bitcoin transactions.  It can act as a…

Kyrgyzstan Proposes Draft Law to Introduce Crypto Mining Taxation

On Aug. 28, the Ministry of Economy of Kyrgyzstan has submitted the draft law “On Amending the Tax Code” with the aim of introducing cryptocurrency mining taxation. New tax proposal According to news outlet Kabar, the draft law was specifically developed to allow for the possible taxation of crypto mining. The taxation on cryptocurrency mining is expected to increase budget revenues and to contribute to the principle of fair taxation in the Kyrgyz Republic. The Ministry of Economy of Kyrgyzstan seems to be exploring two possible options to implement taxes…

Cryptocurrency Mining Firm Argo Blockchain Increases its Hashrate

Cryptocurrency mining firm Argo Blockchain is reportedly increasing its hashrate as the company’s stock price soars. An aggressively expanding mining firm United Kingdom-based business news outlet ProactiveInvestors reported on Aug. 27 that crypto mining company Argo Blockchain is expanding its mining capabilities after its stock price registered a sharp increase in the past months. Per the report, the firm owns 7,025 machines that it mostly uses to mine Bitcoin (BTC), but it has already ordered more hardware. This month Argo also signed a deal to increase its electricity supply by…

Researchers Find Monero Mining Malware That Hides From Task Manager

Cybersecurity company Varonis has discovered a new cryptojacking virus, dubbed “Norman,” that aims to mine the cryptocurrency Monero (XMR) and evade detection.  Varonis published a report about Norman on Aug.14. According to the report, Varonis found Norman as one of many cryptojacking viruses deployed in an attack that infected machines at a mid-size company.  Hackers and cybercriminals deploy cryptojacking hardware to use the computing power of unsuspecting users’ machines to mine cryptocurrencies like the privacy oriented coin Monero. Norman in particular is a crypto miner based on XMRig, which is…

Fidelity Joins Blockstream’s New Institutional Bitcoin Mining Service

Blockchain technology company Blockstream has announced details of its Bitcoin mining services. In a blog post on Aug. 8, the company revealed two massive data centers for enterprise class co-location services, along with Blockstream Pool, using the BetterHash protocol. Its aim is to maintain the decentralization of the Bitcoin network. Your Bitcoin mining equipment, Blockstream’s data-centers The data centers, located in Quebec and Georgia, account for a combined 300 megawatts of energy capacity. At full capacity, populated with the latest mining rigs, this could account for around 7.5% of the…