Bitmain Launches ‘World’s Largest’ Bitcoin Mining Facility in Texas

Chinese cryptocurrency hardware manufacturer Bitmain has opened what it claims is the “world’s largest” facility for Bitcoin (BTC) mining in Rockdale, Texas.  In a news release published on Oct. 21, Bitmain revealed the project had been completed together with the Rockdale Municipal Development District and Canadian technology firm DMG Blockchain Solutions. Pledges to boost the local economy The news release places a strong emphasis on working with the local economy of Rockdale, which is located in Milam County, east of Austin. The facility — currently developed to a current 25MW capacity, with…

Customs Agents Seize Crypto Mining Units Smuggled out of Mongolia

The Federal Customs Service of the Russian Federation stopped the illegal import of four crypto mining devices from Mongolia into Russia. Crypto mining equipment confiscated On Oct. 1 Coinspot reported that a Mongolian citizen was trying to smuggle the four mining devices with fans and connected microcircuits across the Russian/Mongolian border into Russian territory. The custom services explained that the smuggler was detained by Altai customs officers during a border check in the rural locality Tashanta. The detainee couldn’t provide any legal documents for the crypto mining equipment, which was…

$10M Mining Farm Fire Takes Blame as Bitcoin Hash Rate Wobbles

The Bitcoin (BTC) network experienced fresh turbulence on Sept. 30 while evidence emerged of a fire destroying $10 million worth of mining rigs. A video of alleged Bitcoin miner fire emerges According to Marshall Long, one of the first active Bitcoin miners, mining company Innosilicon’s giant data center began burning on Monday. Details remain sparse, but a video appeared showing the machines reportedly continuing to run despite being on fire.  Dovey Wan, a founding partner at crypto asset holding company Primitive Ventures, added that the total worth of equipment involved…

Employee Fined For Mining BTC on Nuclear Research Center Supercomputer

An employee at a nuclear research center in the closed town of Sarov in Russia was fined for illegally mining Bitcoin (BTC). Convicted to pay $7,000 fine According to a Sept. 27 article by Russian news outlet Meduza, a man was fined 450,000 rubles ($7,000) for trying to mine Bitcoin by using a petaflop-capable supercomputer at his workplace, the All-Russian Scientific Research Institute in Sarov, Russia. Sarov, about 230 miles east of Moscow is a closed town as it is the Russian center for nuclear weapons research.  The court delivered…

AI Firm Core Scientific Acquires Creator of Mining Program Honeyminer

Blockchain and artificial intelligence startup, Core Scientific has acquired Stax Digital to further develop its infrastructure and software solutions. Creator of Honeyminer In a Sept. 27 press release, Core Scientific announced the acquisition of blockchain mining company Stax Digital, the creator of the most widely used GPU mining program, Honeyminer. Stax Digital’s CEO, Noah Jessop, said:  “With Core Scientific’s incredible hardware abilities—and now Honeyminer’s best-in-class optimizations and global software platform, together we are poised to offer best-in-class mining solutions within our data centers or embedded in any computer or device…

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…