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Crypto Mining is to Stay in China!

Cryptocurrency mining set to be staying in China The nation’s state council revealed this week the new version of the guidance catalogue. Despite prior hatred towards crypto and blockchain, the country seems to be warming to the idea of the emerging technology, proving to be a positive thing for investors. The news of cryptocurrency mining will be being kept alive in China comes after President Xi Jinping announced that the nation will “take the leading position in the emerging field of blockchain.” Chinese Mining One of the highest-ranking economic planning organisations under China’s State Council, the National Development and Reform...

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What’s Your Alternative If Mining And Staking No Longer Pays Off?

Acquiring cryptocurrency assets has been quite an adventure during the past decade. From early Bitcoin miners to Ethereum miners, tales of wild gains abounded. Later, even obscure coins and tokens, mined and hoarded on consumer computers, were also a source of wealth.  But by 2013, mining was becoming highly competitive, at least for Bitcoin. Later, amateur miners had a second chance with Ethereum and the more obscure coins. But running a powerful GPU was not a trivial task and power-hungry mining ASICS produced very little BTC.  Mining altcoins: not viable in a bear market Mining smaller coins was viable during...

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How Renewable BTC Mining Is Helping The Planet

In a recent study published by CoinShares which estimates that renewable energy powers around 74 percent of Bitcoin mining operations. The paper also suggested that the flagship cryptocurrencies mining operations are commonly concentrated in areas where renewable energy sources are redundant. Miners are actually encouraged to do this because of the profit involved in it for long-term means. The use of renewable use of energy seems to be on the down from last year when just under 78 percent of miners were using such energy sources. The report states: “The renewables estimate is down from 77.8% in our November 2018...

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People Are Investing In Bitcoin Mining Gear Again

A sudden decline in Bitcoin and cryptocurrency mining took place through 2018 for two key reasons. First of all, rising costs for energy and expensive mining equipment made the set up of mining operations far more costly than they used to be. Secondly and more importantly though, the decline in the value of Bitcoin set mining profits crashing. Because a single Bitcoin is worth far less than it used to be just one year ago, the action of mining went from a profitable one, to a financial drain and thus, people had to stop. The full scale of this decline...

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Bitmain Co-Founder Dismissed Of All Roles In Unexpected Decision

In what is an unexpected move, the Beijing-based bitcoin mining giant Bitmain has ousted the co-founder and executive director Micree Ketuan Zhan. According to an internal email sent to staff, another co-founder, and now chairman of the board of Bitmain, Jihan Wu sent an email with the subject matter of “important notice” to all staff, saying: “Bitmain’s co-founder, chairman, legal representative and executive director Jihan Wu has decided to dismiss all roles of Ketuan Zhan, effective immediately. Any Bitmain staff shall no longer take any direction from Zhan, or participate in any meeting organized by Zhan. Bitmain may, based on...

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