Cryptocurrency Mining | ForkLog

ForkLog 21 15.05.2024

El Salvador Mines Nearly 474 BTC in Three Years

Since 2021, El Salvador has mined 473.5 BTC, valued at approximately $29 million, at a state-run geothermal power plant harnessing volcanic energy, according to Reuters. The country’s national Bitcoin office announced the launch of its own space in the Bitcoin mempool, allowing real-time tracking of the cryptocurrency balance in the state treasury. At the time […]

AI translated

ForkLog 8 14.05.2024

Biden Blocks Chinese Miner from Owning Property Near Air Force Base

U.S. President Joe Biden has prohibited a mining company controlled by Chinese nationals from owning real estate near an Air Force base in Wyoming, according to a statement from the Treasury Department. The President has mandated that MineOne Partners Limited sell the property due to national security concerns. The firm, whose majority shares are held […]

AI translated

ForkLog 24 14.05.2024

Bernstein: Bitcoin’s Price Plateau Favors Public Miners

Bitcoin’s “flat” price movement post-halving benefits public miners. Major miners have opportunities to increase market share amid declining revenues. The sale of accumulated cryptocurrency reserves by miners remains possible. Analysts at Bernstein believe that Bitcoin’s “almost flat” price movement is ideal for public miners in their competition for hash rate. This is reported by The […]

AI translated

ForkLog 14 13.05.2024

Russia Proposes New Fines for Illicit Miners

The Expert Council under the Russian government has advocated for the implementation of remote energy consumption checks to combat illicit miners, according to Izvestia. In cases where actual power usage exceeds the amount declared in bills, it is proposed to fine violators, calculating the penalty based on industrial rates. Currently, bills for excessive electricity consumption […]

AI translated

ForkLog 17 12.05.2024

Bitcoin Mining Output Declines in April, Say Miners

In early May, mining companies reported their performance for the previous month. ForkLog compiled the key metrics in one article. Marathon Digital Holdings In April, Marathon Digital Holdings produced 850 BTC — a 21% increase from the same period last year. However, compared to March, the figure decreased by 5%. Data: Marathon Digital Holdings. According […]

AI translated

ForkLog 7 09.05.2024

Bitcoin Mining Difficulty Drops Nearly 6%

The latest recalibration has seen the difficulty of mining the leading cryptocurrency fall by 5.63% to 83.15 T. This decline marks the most significant drop since December 2022. Source: BTC.com. At that time, Bitcoin was in a bearish market phase, largely driven by a series of bankruptcies, including the collapses of Terra and FTX. Since […]

AI translated

ForkLog 21 09.05.2024

Canaan Unveils New Line of Bitcoin Miners

At the Bitcoin Asia 2024 exhibition, Canaan introduced its flagship next-generation device for mining the premier cryptocurrency — the A1566 from the Avalon A15 series. The Bitcoin miner delivers a hash rate of 185 TH/s with a power consumption of 3240 W. The device’s energy efficiency is 18.5 J/TH. The top model from the previous […]

AI translated

ForkLog 36 08.05.2024

Genesis Digital Assets Harnesses Flared Gas for Bitcoin Mining in Argentina

The American mining firm Genesis Digital Assets (GDA) has established a data centre in Argentina to mine the leading cryptocurrency using energy derived from burning associated gas. Initially, the local partner, energy company YPF.Luz, will power 1,200 ASIC miners from a thermal power plant operating on flared gas. The facility boasts a capacity of 7 […]

AI translated

ForkLog 7 06.05.2024

Miners’ Revenue Plummets to 2023 Lows

On May 3, the total revenue for miners fell to $26.38 million, marking the lowest level since October 2023, according to Blockchain.com. Source: Blockchain.com. At the time of writing, the figure had slightly risen to $30.9 million. On halving day on April 20, miners earned a record $107.75 million. This was largely driven by fees […]

AI translated

ForkLog 10 03.05.2024

US Senators Deem Iranian Crypto Mining a National Security Threat

Senators Elizabeth Warren and Angus King urged the administration of President Joe Biden to provide information on measures to combat Iran’s “unbridled evasion” of sanctions through cryptocurrency mining. “Iran legalized the digital asset mining industry in 2019. Over the past five years, Iran has earned millions of dollars from mining—a stable source of income that […]

AI translated

ForkLog 28 30.04.2024

Study Reveals Centralization of Bitcoin Mining Pools Under Single Custodian

Bitcoin mining has become perilously centralized, with a single entity holding coins mined by nine major pools, thereby controlling approximately 47% of the network’s hashrate, according to a report by BitMEX. The document references a post by a user named mononaut on X. According to his data, an unnamed custodian has amassed bitcoins from AntPool, […]

AI translated

ForkLog 8 30.04.2024

Alliance Resource Reports Holding 425 BTC

American public energy company Alliance Resource, known for its coal mining operations, has disclosed in its financial report that it holds 425 BTC. This was reported by CoinDesk. The company does not purchase the leading cryptocurrency but mines it using its own equipment and surplus generated energy. The coal giant, with a market capitalization of […]

AI translated

#Cryptocurrency Mining