Bitmain, the world’s largest bitcoin mining firm, has reportedly undergone a major board reshuffle ahead of its initial public offering (IPO), which should set a record for the nascent cryptocurrency industry. Bitmain Sees Major Board Shakeup — CEO Jihan Wu Loses Voting Rights Citing company information registered with the local government, Chinese industry … [Read more...] about Bitcoin Mining Giant Bitmain Shuffles Board Ahead of IPO
This week, the U.S. officially removed Iran from the Society for Worldwide Interbank Financial Telecommunication (SWIFT) network, disallowing the Central Bank of the Islamic Republic of Iran from working with financial institutions worldwide. Iran could eye a switch to crypto as a response, as it hinted in early 2018. The U.S. government imposed strict sanctions on Iran in … [Read more...] about Will Iran Really Switch to Crypto as Planned?
A Chinese principal lost his job after hidden cryptocurrency mining machines were found sucking up his school's electricity. The Ethereum-mining devices were discovered after teachers at the school in southeastern Hunan province got suspicious about a whirring noise they were hearing all day and night, the BBC reported Friday, citing local media. Cryptocurrency mining becomes … [Read more...] about Secret cryptocurrency mining gets Chinese principal fired
Canadian blockchain and cryptocurrency company DMG Blockchain Solutions Inc. has energized its new crypto mining facility, according to an announcement published Nov. 8. DMG states that the facility will start at 60 megawatts, and can expand its capacity up to 85 megawatts. DMG Blockchain Solutions initially revealed its plans to launch the station in July, stating that their … [Read more...] about Canada’s DMG Blockchain Puts 85 Megawatt Crypto Mining Facility Into Operation
This year has been filled with negatives for cryptocurrencies, or at least cryptocurrency investors. Trading at insane prices towards the tail end of 2017, crypto values have fallen closer to earth, with a large majority shedding as much as 80 percent of their value. This has led to quite a bit crisis talk, with some commentators prophesying an imminent crypto crash. Economist … [Read more...] about Economist: It’s Time for Bitcoin to ‘Put up or Shut up’