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After reportedly meeting with several Bitcoin (BTC) miners at his Mar-a-Lago resort in Palm Beach, Florida, during which he promised support for Bitcoin mining if elected into the White House, former United States President Donald Trump had more to say on the matter. Specifically, Trump expressed his view that “Bitcoin mining may be our last line of defense against a CBDC,” referring to the earlier announced central bank digital currency that many believe threatens the nation’s economy, in a post on his Truth Social account shared on June 12. Donald Trump’s post on Bitcoin mining. Source: Truth Social CBDC issue in the US As a reminder, CBDCs have become a point of contention in US politics, with Congressman Tom Emmer warning that they might be “CCP-style surveillance tool” out to “destroy the American way of life” as he was presenting his CBDC Anti-Surveillance State Act, arguing that: Picks ...

For years, rumors have circulated that Bitcoin’s largest mining machine manufacturer has secretly centralized a majority of Bitcoin’s hash power. The theory is down to more than a simple observation of the logo stamped on most mining cases. No, skeptics think that Bitmain’s pool itself — not just its machines — secretly creates the vast majority of blocks that are added to Bitcoin’s ledger. A sleuth found a clue in Antpool’s block template: A manually prioritized transaction immediately after the 6.25 BTC block reward or ‘coinbase’ transaction. This new research by pseudonymous Bitcoin developer 0xb10c seemingly confirms long-rumored practices by Antpool hiding its massive operation under the names of ostensibly independent pools. In short, it warns that despite tens of thousands of decentralized nodes, Bitcoin might actually be quite centralized from a mining perspective. One template and custodian for supposedly independent pools Specifically, 0xb10c detected that B...

Authorities in Ukraine have busted a 29-year-old individual on the grounds of compromising cloud accounts to illegally mine cryptocurrencies.  The arrest conducted on January 9 in Mykolaiv was a collaboration between Europol and an unidentified cloud service provider who apprehended the individual in what was described as a ‘sophisticated crypto jacking scheme,’ Europol said in a press statement on January 12.  According to Europol, the suspect is believed to have mined over $2 million (€1.8 million) in cryptocurrencies through the compromised accounts.  On the other hand, Ukrainian cyber police, who also participated in the operation, noted that the individual employed automated tools to forcefully breach the passwords of 1,500 accounts belonging to a subsidiary of an e-commerce entity that was not named. Cryptocurrency We asked ChatGPT what will be ETH price if Ethereum ETF is approved Cryptocurrency 3 cryptocurrencies ...

The key to survival for Bitcoin miners boils down to the delicate balance between the revenue and the operating cash flow. Bitcoin (BTC) visiting the $20,000 range after one and a half years made Mining — the most important job of the ecosystem — a costly affair. However, if history were to repeat itself, BTC investors may witness another epic bull run that previously helped Bitcoin reach an all-time high of $69,000. Changes in Bitcoin prices directly impact the miners’ income, who earn fixed block rewards and transaction fees in BTC for running their mining operations. In June 2022, the total mining revenue dipped below the $20 million range, with Blockchain.com data recording the lowest dip of $14.401 million on June 17. Total miners revenue over time. Source: blockchain.com As shown above, the recent dip in Bitcoin mining revenue was last seen one year back when the total value tanked to $13.065 million on June 27, 2021 — back when BTC traded at roughly $34,000. What followed afte...

Despite the competition between the two sectors, Hive Digital Technologies CEO Aydin Kilic said that blockchain and AI can work to the benefit of each other. Crypto mining firm Hive Blockchain sent a signal to the tech industry when it dropped “ blockchain ” from its namesake in July, opting to call itself Hive Digital Technologies and reflect its artificial intelligence foray. The decision is part of a wider movement from crypto miner s to pivot outside of digital currency mining, amid depressed crypto prices. January saw crypto mining firm Riot Blockchain rebrand to Riot Platforms while June saw crypto miner Applied Digital announce a $460 million deal to host AI cloud computing in its data center. Since ETH mining ended in September 2022, $HIVE has been transforming its fleet of 38,000 Nvidia GPUs from miner s into cloud infrastructure, marking the next stage of our evolution into a diversified data center operator. Read the latest HIVE Newsletter: https://t.co/raHqwMMalv pic.twit...

Stablecoin operator Tether is building specialized Bitcoin mining software aimed at using data analytics to optimize mining operations and boost production, CTO Paolo Ardoino says. Stablecoin issuer Tether (USDT) is building specialized software to optimize Bitcoin mining and renewable energy operating using data analytics, following recent investment endeavors into both categories. In conversation with Cointelegraph, Tether CTO Paolo Ardoino expanded upon details of its in-development mining software which aims to deliver improved analytics and performance of mining sites. Related: Tether’s game plan in El Salvador: Why invest in Volcano Energy? Moria, named after the dwarven mining kingdom from The Lord of the Rings trilogy, is being built by Ardoino and a team of developers. Tether's CTO had previously shared details of the software in a recent social media post. Tether is investing in renewable energy production (with excess reserves / profits) and sustainable #bitcoin mini...

Bitcoin mining firm Hut8 continues to relocate miners from idle North Bay site as demand for AI and high power computing drives new demand. North American mining firm Hut8 is seeing new demand for AI and high performance computing as it looks to re-energize some 6,400 rigs being moved from its inoperative North Bay site in Ontario. As previously reported, Hut8 is in an ongoing legal battle with its third party energy supplier Validus Power over alleged failure to meet contractual obligations. Operations at the facility have been suspended since Nov. 2022. Hut8 declined to comment on proceedings of the court case in correspondence with Cointelegraph but confirmed that some 6,400 miners are being moved to Texas as the company looks to bring its idle equipment back online. The firm expects this specific batch of miners to be operational by the end of July 2023, providing 600 PH/s of operational capacity which will take Hut8’s total installed hashrate up to 3.2 EH/s. A three month hosti...

The May 2 blog post by the White House’s Council of Economic Advisers (CEA) has already attracted strong criticism from the community. The Biden administration has renewed its push for a 30% Digital Asset Mining Energy (DAME) tax on cryptocurrency miners, part of efforts to minimize the industry’s alleged impact on climate change.  The proposed crypto-mining tax was first announced on March 9 as part of President Biden's FY2024 budget and seeks to impose a phased-in 30% excise tax on electricity used by crypto-miners. Today the CEA released a blog highlighting a new tax in the President’s budget, the Digital Asset Mining Excise Tax (“DAME Tax”), a tax equal to 30 percent of the cost of the electricity cryptominers use once fully phased in. 1/ https://t.co/944x0wVVB5 — Council of Economic Advisers (@WhiteHouseCEA) May 2, 2023 “An excise tax on electricity usage by digital asset miners could reduce mining activity along with its associated environmental impacts and other harms,”...