Bitcoin Mining Consumes Over 3X the Energy of Gold Mining: Research

Twitter Facebook LinkedIn A new paper indicates that the energy required to mine cryptocurrencies is more than what is consumed when excavating for metals of equivalent dollar value. In the paper which was published on November 5 by the Nature journal, researchers at the Cincinnati, Ohio-based Oak Ridge Institute noted that bitcoin consumes more than […]

Continue Reading

Australia Could See First Solar-Powered Bitcoin Mining Farm in Coal Town

An Australian data center operator and its cryptocurrency subsidiary are developing what they describe as the country’s first “behind-the-grid data center” powered by renewable energy. Situated in the coal-mining town of Collie, some 200km south of Perth, the new facility is being developed by data center operator DC Two and subsidiary D Coin and will […]

Continue Reading

BTCC to Sell 49% Equity Stake of its Bitcoin Mining Pool for $18.7 Million

Former Chinese ‘big three’ crypto exchange BTCC has agreed to sell 49 percent of its mining pool, BTCC Pool Limited, in equity in a non-legally binding agreement. In an announcement [PDF] published on the Hong Kong Stock Exchange, prospective buyer Value Convergence Holdings Limited – a Hong Kong-based asset management and financial services company – […]

Continue Reading

Chinese Police Arrest Crypto Miner for Power Theft

Authorities in China have arrested a man for allegedly stealing a significant amount of power in order to fuel a clandestine cryptocurrency mine. Police in the eastern Chinese province of Anhui Province seized more than 200 computers used for bitcoin and ether mining after the local power grid company reported a spike in electricity use, […]

Continue Reading

Iceland’s Missing Bitcoin Miners May Be In China

Iceland’s 600 missing bitcoin mining machines may be in China, local news reported last week. According to RUV, Icelandic police have sent Chinese authorities an inquiry after the latter country confiscated 600 mining computers. Police in the Tianjin area reportedly seized the machines after detecting unusually high electricity consumption, per Xinhua News. The Chinese news agency explained […]

Continue Reading

Cryptojacking Remains an Acute Threat in 2018

Join our community of 10 000 traders on Hacked.com for just $39 per month. Cybercrime ran rampant last year, and the cryptocurrency market was no exception, as evidenced by hacks involving bitcoin ransoms and the pervasive use of cryptojacking. Cryptojacking involves using someone’s CPUs to secretly mine cryptocurrency without that person’s permission. And according to a […]

Continue Reading

Australian Police Question Govt. Employees on Crypto Mining Operation

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. Australian federal police are reportedly investigating two employees from the country’s official weather forecasting department over an alleged cryptocurrency mining operation. Citing sources, ABC News is reporting that two IT employees from the Bureau of Meteorology (BOM) are currently under the federal […]

Continue Reading

Quebec Mulls Higher Rates as Bitcoin Miners’ Demands Surge

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. Rising demand for Montreal’s low-cost hydroelectric power among bitcoin miners could spur higher electricity rates. Hydro-Quebec revealed it may consider hiking the cost for bitcoin miners given a flood of pent-up demand in the region, which would thwart the plans of bitcoin miners […]

Continue Reading

Bitcoin Miners Flock to the ‘Buckle of the Power Belt’

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. Wenatchee, Wash., which a local daily dubbed the ‘Buckle of the Power Belt’ for its vast hydropower potential back in the 1920s, is drawing in bitcoin miners these days. The state’s Columbia River- fueled dams are famous for their hydroelectric power, which […]

Continue Reading

Iceland Lawmaker Proposes Tax on Incoming Cryptocurrency Miners

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. Virtual currency miners are flocking to Iceland due to its abundance of renewable energy, and some lawmakers want to tax them, according to ABC News. Iceland’s renewable energy from hydroelectric and geothermal power plants has delivered competitive electricity rates. Smari McCarthy, a […]

Continue Reading