Bitmain’s Chip Supplier Saw a ‘Big Drop’ in Crypto Mining Sales Last Year

Bitmain’s Chip Supplier Saw a ‘Big Drop’ in Crypto Mining Sales Last Year

TSMC, which supplies chips to bitcoin mining giant Bitmain, said crypto-related demand plunged in 2018. | Source: Shutterstock Taiwan Semiconductor Manufacturing Company Limited, who provides chips to Bitcoin mining giant Bitmain, says that 2018 saw a downturn in demand for crypto mining chips. In a recent conference call with investors, TSMC CEO C. C. Wei…

Investors Demand Refund from Hong Kong Millionaire over Crypto Mining Scam

Investors Demand Refund from Hong Kong Millionaire over Crypto Mining Scam

TweetShare Four Hong Kong investors have come out to demand refunds of the capital given to Wong Ching-kit, a businessman who sells Bitcoin mining equipment, after claiming that the 24-year-old crypto promoter scammed them. According to a report on the South China Morning Post (SCMP), the affected investors have suffered losses around HK$20,000 (roughly $25,000)…

GMO Planned to Take Down Bitmain; Now It’s Getting out of Bitcoin Mining

GMO Planned to Take Down Bitmain; Now It’s Getting out of Bitcoin Mining

TweetShare More than a year after launching an in-house mining business, Japanese internet conglomerate GMO Internet has announced that it will no longer, develop, manufacture, or sell cryptocurrency mining equipment. In a statement, the Japanese tech firm disclosed that the decision was prompted by challenging business conditions which resulted in an “extraordinary” consolidated quarterly loss…

Intel Gains Patent for Energy-Efficient Bitcoin Mining Design

Intel Gains Patent for Energy-Efficient Bitcoin Mining Design

Advertisement Twitter Facebook LinkedIn CCN is expanding. Are you our next full-time journalist from the West Coast USA? Send us your CV and examples here. Intel has been awarded patent #10,142,098 , which pertains to a system they’ve designed which improves the energy efficiency of Bitcoin miners. While it takes a hardware engineer to fully…

Make-A-Wish-Foundation Website Infected with Crypto Mining Malware

Make-A-Wish-Foundation Website Infected with Crypto Mining Malware

Advertisement Twitter Facebook LinkedIn Cyber criminals seem to have reached a new low, as they have targeted the site of one of the most popular children’s foundations in the world and infected it with crypto mining malware. In a published report this week, researchers from security firm Trustwave reported that a CoinImp crypto mining script…

‘WebCobra’: McAfee Spots Russian Malware Mining Monero and Zcash

‘WebCobra’: McAfee Spots Russian Malware Mining Monero and Zcash

Advertisement Twitter Facebook LinkedIn Researchers at computer security firm McAfee Labs discovered a lethal new cryptojacking malware called “WebCobra,” which steals victims’ computing power to mine the cryptocurrencies Monero or Zcash secretly. The spike in cryptocurrency prices has inspired a new wave of cybercriminals, who use malware to cannibalize unsuspecting victims’ computers to mine crypto.…

Bitcoin Mining Consumes Over 3X the Energy of Gold Mining: Research

Bitcoin Mining Consumes Over 3X the Energy of Gold Mining: Research

Advertisement Twitter Facebook LinkedIn A new paper indicates that the energy required to mine cryptocurrencies is more than what is consumed when excavating for metals of equivalent dollar value. In the paper which was published on November 5 by the Nature journal, researchers at the Cincinnati, Ohio-based Oak Ridge Institute noted that bitcoin consumes more…

To the Moon? Ethereum Startup ConsenSys Acquires Asteroid Mining Firm

To the Moon? Ethereum Startup ConsenSys Acquires Asteroid Mining Firm

Advertisement Twitter Facebook New York-based blockchain software technology startup and Ethereum development studio ConsenSys has acquired asteroid mining company Planetary Resources, Inc. through an asset-purchase agreement. Following the acquisition, Planetary Resources President and CEO Chris Lewicki and General Counsel Brian Israel will be joining the team at ConsenSys, according to an official press release. Before…

Russian Church Forced To Pay For Crypto Mining

Russian Church Forced To Pay For Crypto Mining

Advertisement A court ruling in Russia recently determined that a church must pay higher electricity fees, due to the fact that they are running cryptocurrency mining hardware on the property.  Although this is an isolated court ruling, it certainly has implications for private citizens, who are mining in their own homes. Church Investigated “Grace”, the…