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How Miners Blossom During A Bear Market

Even though this past year wasn’t a very positive one for the cryptocurrency space, the crypto miners and mining firms had an even worse time! Due to the prolonged bear market and the massive drop in prices, many miners are either facing the music and shutting down their shops or keep on fighting in the hope that mining would become profitable again. As written by the Daily Hodl, “It seems that the only profitable options are to place mining operations in an area with cheap electricity or resort to switching software and mining the most profitable option at the given...

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Did Bitcoin Miners Shoot Themselves In The Foot By Advocating For Bigger Blocks?

Throughout the history of Bitcoin’s block size limit controversy, one part of the ecosystem that always seemed in favor of a larger block size limit was miners. Whether it was a proposal for an uncapped block size limit or SegWit2x, miners showed their support for a variety of hard-forking increases to the block size limit over the years. Various mining-related companies such as Bitmain and ViaBTC are also huge supporters of the Bitcoin Cash altcoin, which was created out of the scaling wars. Unfortunately for miners, they don’t control Bitcoin, so the protocol has yet to receive a block size...

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Ethereum Mining Rewards Are Down

According to recent reports, the daily mining rewards for Ethereum mining have hit new all time lows. This comes as the cryptocurrency markets continue to sink as a result of a very heavy bear market that is crushing the hopes of investors, worldwide. Of course, low mining rewards aren’t a huge problem, though this does highlight that the bear market is having an impact on more than just the value of Ethereum. According to Ethereum World News: “On February 10th, 13,370 ETH was created, a substantial drop from new coin creation logged in December 2018 at over 20,000 ETH per...

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Are China To Blame For Nvidia’s Bitcoin Mining Losses?

A report published yesterday by VentureBeat says that stock for the US GPU manufacturer Nvidia fell by more than 15 percent on Monday over concerns regarding the firm's poor performance in the crypto mining industry in recent months. The company has revised its fourth quarter 2018 revenue estimate, which is now worth $2.20 billion compared to the previous estimate of $2.70 billion. Mining crypto As many of you will know, the recent months of the crypto markets have faced the major brunt of the ongoing pessimistic market. With the bear market continuing into 2019, many miners have been forced to...

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Prolonged Bear Market Forcing Mining Firms To Close

This week another Bitcoin miner shut down its operations this week, although the news didn’t seem to shock many. The latest closure is the US-based Giga Watt which went bankrupt last year. This follows on the trendline among big mining operation that stretches back years. Giga Watt was only set up in 2017 and they announced their bankruptcy last year in a Telegram message saying that they would be halting all operations. Part of the message said. “as was reported in November of 2018, Giga Watt voluntarily filed with the Bankruptcy Court seeking debt relief and reorganization.” Adding on to...

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