New research by BitMEX has revealed that Bitcoin Cash SV (BSV) miners are losing hundreds of thousands of dollars every month. In total that’s led to more than $2.1 million in losses and due to recent news it looks like the situation is only going to get worse.

The Problem With Mining Bitcoin Cash SV

According to BitMEX research the total cost of mining Bitcoin cash SV, since its inception in November of 2018, has been $20,900,000. …

We take a look at the evidence behind the conflicting reports concerning mining behemoth Bitmain

Key Takeaways

  • Reports have been conflicting regarding the operating health of Bitmain
  • The evidence on both sides is weak and non-verifiable
  • A number of external factors support the case that Bitmain may be scaling up its proprietary mining operations

There have been conflicting reports recently regarding the operating health of mining behemoth Bitmain. On the one hand, the company has changed the CEO and has also failed to follow through on its IPO application.

Even more negative has been the reports that the mining giant

It’s the beginning of the Fengshui Period, also popularly referred to as the flood period in China’s Sichuan province. The Fengshui Period lasts from April to October every year. During this period, Sichuan attracts a lot of cryptocurrency miners across China as the electricity rates drop significantly compared to other provinces.

The rate of electricity in Sichuan drops as low as 0.25 yuan (roughly $0.04) per kilowatt compared to 0.35 yuan (roughly $0.05) per kilowatt in other regions like Xinjiang and Inner Mongolia. …

The Japanese financial conglomerate SBI Holdings has recently announced the creation of a new subsidiary company: SBI Mining Chip Co. The company will produce mining gear which will enable SBI Holdings to mine cryptocurrency without having to buy ASICs from large companies like Bitmain.

The Announcement

SBI Holdings publicized the creation of the new company in a short notice posted on their website. “SBI Holdings, Inc., hereby announces that the Company has established SBI Mining Chip Co., Ltd., …

Over the last year, the cryptocurrency industry has undergone a major slowdown. Moreover, the constantly falling prices of Bitcoin has had a ripple-effect on the crypto mining industry as well. However, this hasn’t deterred industry players to continue innovating and to introduce news high-end mining equipment to the market.

As crypto mining involves solving complex mathematical equations, it requires energy intensive hardware. A major challenge for mining hardware manufacturers is to keep in the check the prices of their hardware without compromising on performance.

Bitmain Unveils Its Antminer 17 Series Chipsets

On Monday, April 8, Bitmain revealed the specifications for…

For many people Bitcoin mining is synonymous with China. Not only are the largest mining pools are controlled by Chinese miners, but Chinese companies are also the predominant manufacturers of ASIC mining equipment. When Bitmain, a Chinese company, was considering an IPO, it was expected to be to the most valuable publicly traded cryptocurrency company on the planet. However, the Chinese government shocked many on April 8th when it announced its ban on mining.

China’s Ban

The National Development and Reform Commission (NDRC) is a Chinese agency which is responsible for setting macroeconomic policy and controlling the Chinese economy. The…

Cryptocurrency mining is one of the most profitable applications of blockchain technology. The profitability of mining, however, largely depends on one single factor — the cost of electricity. Proof of Work blockchains, such as Bitcoin, use electricity to ensure miners are economically invested in the validity of their participation, and reward them accordingly. A new generation of college students, however, is reaping the rewards of mining while campuses foot the bill in their stead.

New data released by security researchers at Cisco reveals the fastest-growing industry vertical for Bitcoin mining, and it’s not geothermal power or arctic mining pools —…

The lengthy cryptocurrency bear market has had a profound impact on the overall crypto ecosystem. The mining industry, however, felt the full force of the crypto winter over the course of 2018, with Bitcoin mining profits falling from 90 percent in early January 2018 to just 30 percent in December.

A new wave of mining hardware, however, combined with increasing market confidence, has catalyzed a decentralization of mining hardware and a sudden increase in mining profitability. …

The recent Constantinople update has changed the game for Ethereum mining. The update, which has delayed the impact of the difficulty bomb for at least another year, has seen the average Ethereum block time drop from 21 seconds to 12.5 seconds and lowered block rewards from 3 ETH to 2 ETH.

As a result, Ethereum mining difficulty has dropped dramatically as miners explore alternative currencies that offer higher rewards. …

The progressive centralization of Bitcoin hash power has remained a concern with blockchain libertarians since the earliest days of the Bitcoin network. The entrance of ASIC hardware into the mining ecosystem and the inevitable launch of large-scale mining pools has resulted in the concentration of Bitcoin hashing power, potentially risking the decentralized nature of the network itself and presenting the possibility of 51% attacks.

A new report published in February 2019 by Canadian wealth management firm Canaccord, however indicates that increased competition amongst mining hardware manufacturers is causing the decentralization of Bitcoin hashing power.

Cheap Next-Gen Hardware Diversifies Mining Market

Canaccord’s recent report demonstrates that no…

Miner Update

Crypto mining news publication. tg:@minerupdate

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