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Bitcoin

Chinese bitcoin mining giant sets up Swiss hub

One of the world’s largest bitcoin miners is setting up a hub for European operations in Switzerland, a person familiar with company has confirmed to swissinfo.ch. The Chinese firm Bitmain Technologies is setting up in Zug just as the Chinese authorities move to shut down cryptocurrency miners. Bitmain Technologiesexternal link builds …

Bitcoin

North Korea cybercrime gang chases Bitcoin as price surges to £13,000

The surging price of cryptocurrencies in global markets is catching the eye not just of ordinary retail investors but a cybercrime gang with links to the North Korean government, according to cyber researchers tracing the group’s activities. The Lazarus cybercrime group is mounting an ongoing scheme to steal the online …

Bitcoin

The electricity used to mine bitcoin this year is bigger than the annual usage of 159 countries

Bitcoin mining computers are pictured in Bitmain’s mining farm near Keflavik, Iceland, June 4, 2016. Picture taken June 4, 2016. Bitcoin mining computers are pictured in Bitmain’s mining farm near Keflavik, Iceland, June 4, 2016. Picture taken June 4, 2016. REUTERS/Jemima Kelly New bitcoin is created by computers solving complex …

Bitcoin

Bitcoin Is Trading Under $4150 Level Amid Rumors About China’s Ban of Bitcoin Exchanges

Contested reports that China plans to ban trading of bitcoin and other virtual currencies on domestic exchanges annulling the whole country’s exchange ecosystem made markets for bitcoin and other cryptocurrencies fall over the course of September 8th till today. The entire buzz is caused by Chinese news source Caixin, which …

Bitcoin

WSJ, Bloomberg Latest to Claim Bitcoin Exchange Crackdown in China

  Bloomberg and the Wall Street Journal are reporting that China will move to shut down bitcoin exchanges, citing unnamed “informed sources.” According to the reports, the ban will be limited to exchange-based trading and will not affect over-the-counter transactions. China’s largest bitcoin exchanges, OKCoin, BTCChina and Huobi, told Bloomberg on Monday that …

Bitcoin
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Solar-Powered Bitcoin Mining Could Be a Very Profitable Business Model

Bitcoin and other cryptocurrencies are now a major business, with the global market capitalization of these coins exceeding $170 billion at their recent peak, according to Coin Market Cap. Bitcoin alone has reached over $70 billion in value, up from nothing when it was created just eight years ago. A …

Bitcoin

China Is Said to Ban Bitcoin Exchanges While Allowing OTC Trades

China plans to ban trading of bitcoin and other virtual currencies on domestic exchanges, dealing another blow to the $150 billion cryptocurrency market after the country outlawed initial coin offerings last week. The ban will only apply to trading of cryptocurrencies on exchanges, according to people familiar with the matter, who asked …

Bitcoin
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Does Bitcoin Have a Mining Monopoly Problem?

During bitcoin’s early days, anyone could “mine” it using their home computer. But as the price of digital currency climbed towards $100 in 2013 (it’s now over $4,000), professional mining groups with specialized computer chips emerged. Today, these groups, or pools—nearly all based in China—have become concentrated and now dominate …

Bitcoin

Russia Reportedly Making Plans to Subsidize Domestic Crypto Mining

Russia’s complex relationship with digital currency took another interesting turn this week, as news reports suggest that the government is preparing to provide electricity subsidies to its domestic Bitcoin miners. The Russian news outlet Izvestiya broke the story, as Institute for Internet Development (IRI) project activities director Arseny Shcheltsin reportedly …

Bitcoin

Japanese E-Commerce Giant DMM Unveils Bitcoin Mining Plans

The Bitcoin mining ecosystem direly needs more decentralization. Although people from all over the world participate a few pools effectively control the network. Japan’s DMM Group will look to change all of this in the near future. The company announced plans to launch a Bitcoin mining operation. The will also …