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Venezuelan Guards Seize 76 Bitcoin Mining Rigs Due to ‘Inconsistencies’ in Transport Documents

The Bolivarian National Guard of Venezuela (GNB) is known for having a tough stance against crypto mining rig counterfeits, as several operations have been assigned to combat the issues over the last few months. This time, the Venezuelan authorities seized 76 mining rigs after allegedly detecting inconsistencies in the transport documentation. Rigs Are Presumably ASIC Miners According to a press note published by the GNB, the procedure took place in a checkpoint on the Bolivar state, specifically in the Puente Angostura. An individual transported the bitcoin (BTC) mining equipment on a Ford vehicle Triton, and he was stopped by the…

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Bitcoin miner firm Ebang launches Ebonex crypto exchange

Cryptocurrency miner supplier Ebang has officially launched its own crypto exchange after an invite-only beta phase earlier this year. Ebang, a publicly-listed company providing mining hardware for cryptocurrencies like Bitcoin (BTC), has officially announced the launch of its own crypto exchange. According to an announcement on Monday, qualified investors will be soon able to register and trade on Ebang’s cryptocurrency exchange dubbed Ebonex. Ebang CEO and chairman Dong Hu said, “In recent years we have made a considerable investment in R&D talent recruiting, as well as product innovation and iteration. The launch of our cryptocurrency exchange business will not only…

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A Bitcoin bányászati nehézsége megdöntötte a mindenkori legmagasabb értéket

A Bitcoin bányászati nehézsége új rekordot állított fel, miután a késve kiszállításra került új generációs ASIC bányászgépeket végre beüzemelték a bányászok. De úgy tűnik, ez még csak a kezdet. A bányászati nehézség további emelkedésére lehet számítani. Közel 6%-ot emelkedett a bányászati nehézség A Bitcoin bányászati nehézsége rengeteget emelkedett az utóbbi napokban, aminek köszönhetően meg is döntötte a mindenkori legmagasabb értéket. Ha esetleg nem vagy otthon a témában, a bányászati nehézség annak szemléltetésére szolgál, hogy mennyire nehéz a bányászat során egy új blokkot létrehozni. Más szóval, mennyi erőforrásra van szükség a Bitcoin bányászathoz. A bányászati nehézség attól függően változik, hogy mennyi…

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Chinese Mining Rig Manufacturer Microbt Announces Offshore ASIC Factory

On Friday, China-based bitcoin mining rig manufacturer Microbt announced plans to create an offshore facility that produces the company’s Whatsminer devices and parts for North America. The firm revealed the expansion news when it announced a recent partnership with the New York-based Foundry Digital LLC. Microbt’s Whatsminer mining rigs have become popular during the last few years and the company has been able to obtain a large portion of mining device sales. On September 25, the China-based firm announced a partnership with Foundry and detailed it contracted a Southeast Asian firm to create Whatsminer equipment for U.S. customers. News.Bitcoin.com reported…

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Venezuela Passes Law Legalizing Crypto Mining, Forces Miners to Join National Mining Pool

Reports say Venezuela has now legalized bitcoin mining following the decree recently issued by the National Superintendency of Crypto Assets and Related Activities (Sunacrip). As part of the new regulations, all entities and individuals interested in legally mining bitcoin and other cryptocurrencies must now apply for a license from the agency. According to a report, the decree will result in the creation of a National Digital Mining Pool (NDMP), a body that “seeks to bring together all the miners operating on the Venezuelan territory.” Meanwhile, the decree document, which was signed by Joselit Ramirez the superintendent of Sunacrip, does not…

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Bitcoin Hashrate Ramps to 130 Exahash Amid Next-Generation Miner Shortage

Regional reports from China have highlighted that a number of major Chinese ASIC mining rig manufacturers have sold out of their next-generation model stock. The shrinking supply of high-performance machines may be due to the shortage of 7nm and 8nm chips from TSMC and Samsung. Bitcoin miners are finding it difficult to obtain next-generation application-specific integrated circuit (ASIC) mining rigs after a number of firms have sold out. Semiconductor goliaths like Samsung and TSMC have been struggling to keep up with the demand that was sparked by the Covid-19 outbreak. On September 10, financial columnist, Vincent He, detailed that mining…

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Top Australian BitConnect promoter banned by ASIC for 7 years

John Bigatton has been barred from providing financial services in Australia for seven years for his involvement with the BitConnect Ponzi scheme. The Australian Securities and Investments Commission (ASIC) has banned John Louis Anthony Bigatton, the former ‘Australian National Representative’ of the multi-billion-dollar crypto Ponzi scheme BitConnect, from providing financial services for seven years. ASIC asserts that the New South Wales resident provided unlicensed financial product advice and engaged in misleading and deceptive conduct while working for BitConnect from August 2017 through January 2018. While an investigation is still ongoing, the regulator has found that: “Mr. Bigatton is not a…

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Bitcoin mining rig manufacturer Canaan posted net loss, CEO cites Covid-19 and BTC halving 

Canaan Inc, a leading Chinese Bitcoin mining hardware manufacturer published its unaudited second quarter (2020) financial results. As per the report, the company’s gross profit increased year over year and quarter over quarter, but Canaan still suffered a net loss.  However, the firm’s gross margin expanded significantly last year as well as in the first quarter of 2020. Further, the total computing power sold through Canaan’s Application Specific Integrated Circuit (ASIC) processors was 2.6 million Thash/s. This indicated an increase of approximately 198.5% in the first quarter of 2020 from 0.9 million THash/s, but it also represented an 18.2% decrease…

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Mining rig manufacturer Canaan announces narrowing net loss in Q2 results

A vastly improved gross margin on sales contributed to a reduction in net loss of over 90% compared to figures from a year ago. Bitcoin mining rig manufacturer Canaan on Aug. 31 released its unaudited financial results for the second quarter of 2020. While gross profit was up both year on year and quarter on quarter, the company still posted a net loss, albeit one which has narrowed significantly in the last twelve months. The amount of computing power sold in its application specific integrated circuit (ASIC) hardware was 2.6 million THash/s. This represents an increase of almost 200% on…

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Grin Price Up Over 11% as Former Developer Tests ASIC Miner

Former core Grin developer Gary Yu mined $118 worth of GRIN cryptocurrency in less than 24 hours with a Grin ASIC mining device. Grin (GRIN), a major privacy-focused cryptocurrency, is apparently no longer resistant to mining with Application-Specific Integrated Circuits — or ASICs — according to a former core developer.Gary Yu, a former core Grin developer, used a Grin ASIC mining device to test out the miner’s performance, according to an Aug. 10 post on Grin’s official forum.Yu purportedly managed to mine three blocks in less than 24 hours, with a block reward totaling at 180 GRIN, or $118 as…

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Dragonmint T1, cannot find on network anymore (AngryIP Scanner) + NO SDCARD SLOT

I was using Braiins OS for a while, but couldn't get the voltages to settle down no matter what I did, so I went to Braiins OS website and noticed they would no longer be supporting the DM-T1, so I decided to revert via ssh, and upon reboot it never came back online. I've tried hard resets. I've been given instructions by BraiinsOS via email on how to restore it via ssh because it's the NO SDCARD version, and cannot find it anymore. Even with Angry IP scanning for dead hosts, I can find my L3plusplus that's unpowered, but cannot…

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Various Crypto Mining Strategies Underline Industry’s Growth Potential

PoS mining platforms are gaining traction globally but could use more polishing and real-life testing, according to experts. Over the course of the past few years, the cryptocurrency mining sector has started to gain a lot of mainstream financial traction. For example, market research firm Technavio recently released startling data claiming that the global mining hardware market is all set to grow by a whopping $2.8 billion between 2020 and 2024. This incredible surge was attributed to the rising popularity of mining pools, most of which are currently concentrated in China. Not only that, over the course of the past few…

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Leadership Feud at Bitmain: 10,000 Antminers Go Missing in Inner Mongolia

Reports detail that 10,000 Antiminers have been allegedly stolen from a Bitmain facility in China. Sources say that the missing mining rigs concern the ongoing power struggle between Bitmain cofounders Jihan Wu and Micree Zhan. Back in mid-June news.Bitcoin.com reported on the power struggle between the Bitmain cofounders. For many years now Bitmain has been the most dominant bitcoin ASIC mining rig manufacturer. However, for quite some time now the cofounders Micree Zhan and Jihan Wu have been at odds. Now regional reports detail that 10,000 Antminers worth millions have gone missing or were “illegally transferred” from a Bitmain mine…

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Political Fights At Another Leading Bitcoin Miner Manufacturer, Co-founder Leaves Board

Reports from China indicate that senior executives of Canaan creatives, one of leading bitcoin miner manufacturer, have been fired. The purge at Hangzhou offices was instigated by Zhang Nan Geng—the founder. Xiangfu Liu, the co-founder, has also reportedly left the board.  Power Struggle At Bitcoin Miner Manufacturer Canaan The in-fighting–as a Twitter user revealed, stems from the desire for control. This has seen executives of Canaan based in Beijing and Hangzhou clash. Those in Hangzhou appear to be the main casualties as some have been unceremoniously fired by Zhang. Political fight in another leading ASIC miner Manufacturer Canaan. Beijing office and…

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