Crypto Hangover Hits Nvidia as Chip Sales Plunge With Bitcoin Prices

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After a stellar rise in business over the last year due to the cryptocurrency boom, chipmaker Nvidia’s optimistic figures for graphics card demand in 2018 has drastically fallen short of expectations, with share prices falling by 17 percent on the back of millions of unsold chips. Falling Crypto Frenzy Takes Down Chipmakers As reported by…

Miner Abandons Swedish County, Leaves $1.5M in Unpaid Electricity Bills

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Two mining companies with operations in Sweden have reportedly abandoned their facilities in the country’s northernmost county of Norrbotten. One of the companies, U.S. miner NGDC, appears to have suddenly fled from the area, leaving $1.55 million in unpaid electricity bills in its wake. Also Read: Seba Crypto Eyes Swiss Bank License, Independent Reserve Integrates Tax…

Chinese Principal Fired for Crypto Mining on The Job

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Headmaster Lei Hua has been fired from his job at a school in Hunan, China, after a total of nine mining rigs were found stealing his school’s electricity to mine Ethereum, the BBC reported on Friday. Chinese headmaster canned for mining cryptocurrency with school's electricityhttps://t.co/fFMAe2IYPj pic.twitter.com/fYSHNWmBaO — Gizmodo (@Gizmodo) November 9, 2018 School Foots the…

Miners Have Begun Using Asicboost on the Bitcoin Cash Network

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On Oct. 22, Bitmain released new firmware for the company’s Antminer mining rigs that enables the use of an optimization known as (overt) version-rolling Asicboost. Since then, Bitcoin Cash mining pools have been using the protocol and 63 Asicboost blocks were mined last week on the network. Also read: Developers Launch BDIP: A Bitcoin Cash Proposal…

Zcoin Gives ASICs the Boot with Merkle Tree Proofs

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In a direct challenge to the type of industrial-grade efforts that have transformed once-lone cryptocurrency miners into multi-billion-dollar oligarchies, Zcoin has held itself up as the first cryptocurrency to “democratize” mining using Merkle Tree Proofs, a PoW algorithm for ASIC-resistance. According to the team behind the zero-knowledge proof privacy coin, Zcoin’s newfangled feature sticks it…

$50 Million Bitcoin Mining Farm Opens in Armenia

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A new cryptocurrency mining facility opened in Armenia on Oct. 18. The $50 million farm will extract bitcoin and ethereum using 3,000 machines, according to local media reports. Around 120,000 more miners are to be added in the months to come. Also read: Marks Jewelers Now Accepts Bitcoin Cash For Payments Multi Group and Omnia Establish…

Hacker Livestreams 51% Attack on Bitcoin Private

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On Oct. 13, ethical hacker “Geocold” followed through on his promise to 51 percent attack an altcoin. He eventually settled on Bitcoin Private (BTCP), and quickly gained majority hashrate control, but the spectacle was fraught with setbacks, including censorship from two streaming services that pulled the plug. Also read: Mischief-Maker Promises to Livestream a 51%…

Northern Bitcoin, Rawpool Sign Wallet and Mining Deal

Northern Bitcoin, Rawpool Sign Wallet and Mining Deal

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Germany’s Northern Bitcoin AG (MUN:NB2) has agreed to offer Bpal Wallet, a wallet and payments app created by China-based Rawpool Group, in the European market. The agreement between the Munich-listed company and the bitcoin cash (BCH) miner, effective from today, also covers mining operations and cryptocurrency exchanges. Shares of Frankfurt-based Northern Bitcoin AG rose 2.8 percent…

Inside Bitewei: The $20 Million Bitcoin Miner Being Hailed as a Bitmain Rival

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A startup seeking to rival mining giant Bitmain is gaining a reputation as a firm that could disrupt the balance in crypto’s most lucrative sector.