Bitcoin mining difficulty set to rise 18% next week

Posted on September 19, 2014

As bitcoin’s price continues to decline, miners have gotten even more bad news. The projected difficulty is currently expected to jump 17.94% on Thursday, climbing from roughly 29 billion to 35 billion. The network hashrate, the key factor in determining difficulty, has grown dramatically in recent days, rocketing up from 213 Petahash per second to […]

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DigitalBTC and Cryptsy to launch mining contract exchange

Posted on September 17, 2014

If a new deal between alt-coin exchange Cryptsy and Australian bitcoin mining company digitalBTC is any indication, tradable mining contracts could soon become bitcoin’s next boom market. CoinDesk reports that the partnership will result in a new trading platform, dubbed digitalX Mintsy, will offer tradable mining contracts and allow users to lease time on their […]

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Bitcoin exchange Bitfinex launches cloud-mining contracts

Posted on September 15, 2014

Hong Kong-based bitcoin exchange and derivatives platform Bitfinex announced a new product today: Cloud-based mining contracts. The contracts are being offered in a limited quantity during the “live beta” phase of testing, allowing Bitfinex’s team to “tweak” the product as needed after the initial tranche of 100 TH/s mining power. Should the offering prove successful, […]

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KnCMiner raised $14 million in new funding round

Posted on September 4, 2014

Stockholm-based bitcoin mining hardware maker KnCMiner announced the results of a new funding round today, adding $14 million to the company’s expansion plans. The Series A round cash will be invested into new hardware designs and software development, as well as funding the company’s ongoing growth in the cloud-based mining sector. The fundraising round was […]

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Huobi’s interest-bearing bitcoin deposit service sells out an hour after launch

Posted on September 2, 2014

Within an hour after opening their new Digcoin “hashing power mortgage” product to users, Beijing-based bitcoin exchange Huobi had sold out of all available shares. The interest-bearing Dig-VC mining service, which is arranged to suggest a “certificate of deposit”-style of investment, provides a guaranteed, monthly interest rate of 1.2%. Each share has a minimum 60-day […]

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Publicly traded bitcoin company DigitalBTC claims $4 million in revenue in first quarterly report

Posted on August 29, 2014

Australia’s first publicly traded bitcoin mining and exchange company digitalBTC released a preliminary final yearly report today, revealing an estimated revenue of $4 million U.S. over three months of operations. The company’s normalized earnings were around $2.5 million for the same period, with a profit of about $600,000. Interestingly, digitalBTC actually reported a net loss […]

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Return to status quo as bitcoin mining difficulty increases in the double digits

Posted on August 20, 2014

Since July 12, bitcoin miners have had a much-needed break from the relentless growth in the mining difficulty. As one of the key metrics determining just how profitable a mining operation is, and a relative measure of how much competition there is to solve the next block in the block chain and gain a 25 […]

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Bitcoin hashrate crosses 200 PH/s … and still climbing

Posted on August 19, 2014

Strange things are afoot in the bitcoin mining world. The overall hashrate of the network made a gigantic leap today, climbing from an already impressive 171 petahashes per second to an incredible 206 petahashes per second in a matter of hours. For perspective, bitcoin only crossed the 1 PH/s threshold in September of 2013. Put […]

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PetaMine backs out of plan to switch to P2Pool, sticks with GHash.io

Posted on August 15, 2014

Shortly after bitcoin-mining megapool GHash.io caused panic across the cryptocurrency community by briefly gaining 51% of the total bitcoin network hashing power, several smaller mining collectives decided it was time to investigate alternatives. Mid-sized, shareholder-owned mining collective PetaMine was one of those groups, deciding in a much-discussed vote to point their miners away from the […]

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ISP-rerouting hackers steal $83,000 in various cryptocurrencies

Posted on August 8, 2014

A report published by Dell’s SecureWorks says that hackers were able to steal roughly $83,000 in bitcoin and other cryptocurrencies by exploiting a weakness in how web traffic is routed. The report claims that 19 internet service providers, including big players like Amazon and DigitalOcean, were impacted. The exploit allowed hackers to briefly gain control […]

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