mining

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London Bitcoin Miner Argo Blockchain Reports 1,000% Revenue Increase to $10 Million

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London Stock Exchange-listed bitcoin miner Argo Blockchain Plc said on Wednesday full-year 2019 revenue rocketed 1,000% to £8.62 million ($10.78 million) from £760,000 a year earlier. The company stated that the increase was due to a realignment of operations, from consumer-oriented mining as a service (MaaS) business to a proprietary mining model. Based in London, … Read more

Chinese Kennel Owner Caught Stealing Electricity to Power Underground Bitcoin Mining Farm

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The largest oil field in the People’s Republic of China has been a target for individuals and organizations attempting to mine bitcoins with free electricity. After a bunch of mining farm operators allegedly got caught last summer, a dog kennel owner was recently busted for running cable lines in order to siphon free electricity from … Read more

1 Cent per Kilowatt-Hour: China’s Sichuan Province Encourages Hydro-Powered Bitcoin Mining

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The local government of Ya’an city, in China’s Sichuan province, has announced the region is encouraging bitcoin mining in Sichuan if operations leverage the local hydropower plants. The document released by Ya’an city officials is in stark contrast to how Sichuan lawmakers felt about mining in 2018. Back then the government and China’s central bank … Read more

Grayscale Buys 50% of All Ethereum Mined in 2020

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Digital asset manager Grayscale Investments bought about 50% of all newly mined ethereum so far this year. It now holds the equivalent of 1.1% of ETH in circulation, according to a post on Reddit. Grayscale operates 10 cryptocurrency investment products focused on institutional investors. As of April 24, the company had $2.7 billion worth of … Read more