In our “Mining” section, we cover everything related to cryptocurrency mining and blockchain network security. Here you will find information about mining hardware, mining pools, profitability, and the technologies behind validating transactions. Read the “Mining” section on ForkNews to learn how cryptocurrency mining works and stay updated on the latest developments.
In its latest funding round, BitFury raised $80 million, increasing the amount raised since 2014 to $170 million. The investors were: Mike Novogratz's company Galaxy Digital, Macquarie Capital, Dentsu Inc., Armat Group and others.
Using computer processing power to mine Bitcoin requires more energy than mining gold, platinum and other precious metals. In addition, as the popularity of a currency grows, the energy consumption for performing calculations also increases.
BTC.com, a major mining pool operator and cryptocurrency wallet provider, is expanding its list of services. The website staff announced that they are adding an Ethereum block explorer service.
Bithub Africa has started using solar energy to mine Bitcoin and Ethereum. John Karanya, founder and CEO of a small Kenyan mining operation, hopes the technology will spread across the continent and challenge the perception that mining poses a threat to the environment.
According to a study published Monday in the scientific journal Nature Climate Change, if Bitcoin adoption occurs at the same rate as credit card adoption, global temperatures will rise by 2 degrees by 2033.
One of the largest mining companies in Europe, Bitfury, is considering the possibility of becoming public. Company representatives are in talks with several global investment banks and plan to begin trading in Amsterdam, London or Hong Kong in 2019. An IPO could help the company reach a valuation of $3-5 billion.
Reddit user "nstran541" reported that his earnings from cryptocurrency mining through the WinMiner application amounted to $1.07 in 4 days. Although this miner did not specify which coin he was mining, other users shared his dissatisfaction. Since energy costs are now many times higher than earnings, many miners have abandoned cryptocurrency mining as it has become unprofitable.
American semiconductor manufacturer AMD released its financial report for the third quarter. The company is disappointed by the decline in demand for cryptocurrency miners and the fall in the value of markets.
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