Canadian border town suspends Bitcoin mining over aesthetic concerns

Massena, a town along the New York border with Canada has placed a temporary suspension on new Bitcoin (BTC) mining operations in the area. According to a report by the Associated Press on Friday, Massena Town city officials mandated the 90-day moratorium on new Bitcoin mining activities due to aesthetic concerns. Steve O’Shaughnessy, a Massena Town supervisor said miners littered roads with trailers laden with computers and other hardware required to mine Bitcoin. The AP report quoted O’Shaughnessy’s statement to WWNY-TV, saying: “We don’t want it littered with these trailers…

Bitcoin mining is becoming vastly more decentralized in 2021

Bitcoin (BTC) has become considerably more decentralized in the past year, one metric suggests — and the trend is growing. According to data from on-chain data resource Blockchain, hash rate distribution is increasingly favoring small, unknown miners.  Small guys increase slice of mining pie Despite the past twelve months seeing a large price run-up, Bitcoin miners have not become more “corporate” — mining is actually seeing more anonymous, small-scale entities join in. Looking at hash rate distribution, the trend is in evidence ever since the March 2020 crash, and this…

A green revolution in crypto mining? Industry answers wake-up call

After having been hailed as a champion of sorts by many within the global digital asset market, Tesla CEO Elon Musk dropped a bombshell on the crypto community earlier in May, backtracking the company’s decision to start accepting Bitcoin (BTC) as a means of payment for various automotive sales. The reason cited was that Bitcoin mining processes were too resource-intensive and unsustainable in the long run. As expected, almost overnight Musk became a heel, especially among Bitcoin maximalists who began calling him a sell-out and a market manipulator. Regardless of…

New DeFi futures to enable hedging against Bitcoin mining difficulty

Decentralized derivatives exchange SynFutures announced a new product called Bitcoin (BTC) Hash Rate Futures that uses the biggest cryptocurrency’s ever-changing mining difficulty as a basis to open long or short positions.  Touted as fully decentralized hash rate futures, SynFutures’ new offering would let users trade on Bitcoin mining difficulty with Wrapped BTC (wBTC).  The hash rate and mining difficulty are two core mechanics of Bitcoin that have become even more popular with the miners’ exodus following China’s crackdown. The Bitcoin network requires mining difficulty to readjust in every 2,016 blocks…

iM Intelligent Mining Raises $2.5M to Launch First Facility in Arkansas

Share this article iM Intelligent Mining is headed to Arkansas. iM Intelligent Closes Funding Round iM Intelligent Mining (iM), a provider of environmentally responsible energy solutions for powering cryptocurrency mining operations, has announced the conclusion of a $2.5 million financing round. iM didn’t name entities involved in the growth funding round, but the list of investors included several prominent individuals and crypto funds. Looking to seize on the moment, iM revealed plans to launch its first mining facility in Arkansas. The company has already completed its newest prototype for the…

Crypto mining firm Argo Blockchain files for US IPO

Argo Blockchain, a U.K. publicly traded company focused on crypto mining, has begun the process of applying for an initial public offering in the United States. According to a confidential draft registration statement filed Tuesday with the U.S. Securities and Exchange Commission, or SEC, Argo has proposed a dual-listing and initial public offering of American Depositary Shares, expected to occur in the third quarter of 2021. The company said the timing could depend on the SEC completing its review process and other conditions in the market. Argo said the number…

US Bitcoin mining giant Core Scientific set for Nasdaq listing via $4.3B SPAC deal

Core Scientific, one of the largest Bitcoin (BTC) mining operations in North America is set for a public listing on Nasdaq. According to CNBC on Wednesday, Core has inked a $4.3 billion merger with Power & Digital Infrastructure Acquisition Corp — a special purpose acquisition company (SPAC). Apart from the planned valuation, other listing details like trading ticker and the start of actual public trading are yet to be revealed as of the time of writing. The SPAC merger and subsequent Nasdaq listing will see Core join the ranks of…

Green energy crypto mining ETF launches on New York Stock Exchange

An exchange-traded fund focusing on more environmentally friendly crypto mining operations and infrastructure has been launched in the United States. The new Viridi Cleaner Energy Crypto-Mining and Semiconductor ETF started trading on Tuesday, July 20, on the New York Stock Exchange under the symbol ‘RIGZ’. The product is part of growing efforts to attract mainstream investors with a focus on environmental, social and governance (ESG) issues. Viridi Funds, which launched the new investment product, stated that the fund also invests in crypto mining infrastructure businesses and semiconductor companies such as…

Seized PS4 consoles in Ukraine used for FIFA accounts, not crypto mining

Last week, Cointelegraph reported the seizure of 3,800 PlayStation consoles allegedly being used to mine cryptocurrency. The confiscated gaming units were among a stash of hardware discovered by Ukrainian authorities during a raid on a farmhouse accused of tampering with electric meters to steal power from the local grid. Based on the initial reports at the time, the PS4 consoles, graphics cards, processing units, and other hardware found at the scene was being used for illegal crypto mining operations. However, according to an investigation by Ukrainian business publication Delo, the…

Bitcoin mining difficulty drops for fourth time in a row

Amid the ongoing crackdown on cryptocurrency mining in China, mining new Bitcoin (BTC) continues getting easier as BTC has experienced another mining difficulty drop. On July 18, the Bitcoin network posted its fourth consecutive negative adjustment of mining difficulty, dropping 4.8%, according to data from Bitcoin explorer BTC.com. The latest mining difficulty adjustment occurred at block 691,488, reducing the difficulty rate from 14.4 trillion to 13.7 trillion, the lowest level recorded since June 2020. The difficulty metrics have now almost halved over the past two months, after reaching over 25…