Crypto Winter Freezes New York Bitcoin Mining Industry

Crypto Winter Freezes New York Bitcoin Mining Industry

TweetShareA unique characteristic of many upstate New York cities is their low energy rates. Hydroelectric dams along the St. Lawrence river give residents electricity so cheap that many even heat their homes with it. The region made perfect sense for crypto miners during the “gold rush” days of 2017 and early 2018, and the increased…

‘Big Bitcoin Heist’ Ringleader Jailed for Massive Crypto Mining Rig Theft

‘Big Bitcoin Heist’ Ringleader Jailed for Massive Crypto Mining Rig Theft

The “Big Bitcoin Heist” perpetrators have finally been brought to justice in Iceland. | Source: Shutterstock By CCN.com: Suspects in the “Big Bitcoin Heist” of 2018 have been sentenced to various prison terms based on their level of involvement in the much-publicised theft of more than three-quarters of a million dollars worth of crypto mining…

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.…