Mining

Marathon Secures 254 Megawatts to Bolster Company’s 2023 Bitcoin Mining Goals

Coins Legend July 19, 2022 0

The bitcoin mining operation Marathon has announced the company has secured 254 megawatts of new hosting deals with the option to increase to 324 megawatts (MW). Marathon’s latest expansion deals should support the bitcoin mining firm’s intended goal of securing approximately 23.3 exahash per

Mining

As The Merge Gets Closer, Ethereum’s Hashrate Dropped Over 26% Since the Network’s All-Time High 45 Days Ago

Coins Legend July 19, 2022 0

While a tentative date for The Merge has been pencilled in by developers, and even though it’s quite possible it could be delayed once again, Ethereum’s hashrate has dropped 26.26% during the last 45 days. 18.21% of the hashrate loss took place after June 30, as Ethereum’s global hashrate slipped from 1,190 terahash per second […]

Mining

Sweden Needs Power for More Useful Things Than Bitcoin Mining, Energy Minister Says

Coins Legend July 18, 2022 0

Concerned about projected increase in electricity demand, the government in Sweden may turn its back on crypto mining, the country’s energy minister has indicated. Swedish bitcoin minting industry, a leader in Europe, is likely to soon lose the preferential treatment it has been taking advantage of for some time, a media report revealed. Crypto Miners […]

Mining

Bitmain Launches 2,400 Megahash E9 Ethereum Miner Ahead of The Merge

Coins Legend July 6, 2022 0

On July 6, the crypto mining rig manufacturer Bitmain announced the launch of the highly anticipated Antminer E9 after revealing the device on April 15, 2021. The machine boasts speeds of up to 2.4 gigahash per second (GH/s) and Bitmain is selling the device for $9,999 per unit. Bitmain Launches Antminer E9 for $4.17 per […]

Mining

Bank of Russia Ready to Legalize Crypto Mining If Miners Sell Minted Coins Abroad

Coins Legend July 4, 2022 0

The Central Bank of Russia would agree to the legalization of cryptocurrency mining, provided the proceeds from the activity are converted to fiat outside of Russia. The regulator’s latest position on the matter comes after it softened its stance on the possible use of cryptocurrencies for payments, even if only internationally. Central Bank of Russia […]

Mining

BTC’s Lower Price Shrinks Bitcoin Mining Profits, Hashrate Remains Unaffected

Coins Legend July 2, 2022 0

While bitcoin’s fiat value has dropped more than 70% below the all-time high recorded in November 2021, the price reduction has made it so miners are making fewer profits depending on the devices they operate. Despite miner profits sliding, Bitcoin’s hashrate has remained high coasting along at 180 exahash per second (EH/s) to 261 EH/s. […]

Mining

Mining Ban Sparks Negative Reactions From Iran’s Crypto Community

Coins Legend June 27, 2022 0

The recently reintroduced seasonal ban on cryptocurrency mining has provoked backlash from the local crypto community. This week, the country’s power distribution company ordered miners to suspend activities citing electricity shortages during the hot summer months. Restrictions on Crypto Mining Are Ousting Iran From Global Coin Minting Industry, Critics Say After last

Mining

Hardware Worth $1.9 Million Stolen in Russia’s Crypto Mining Capital

Coins Legend June 25, 2022 0

Russian law enforcement is looking into the alleged theft of mining hardware valued at around $1.9 million. The powerful computing equipment disappeared from a crypto mining hotel in Irkutsk, the owners of which have been accused of large scale fraud. 100 Russians Lose Mining Machines Worth 100 Million Rubles Police in the Russian Irkutsk Oblast […]

Mining

Following BTC’s Price Drop, Bitcoin Miners Benefit From a 2.35% Difficulty Reduction

Coins Legend June 22, 2022 0

During the past week, Bitcoin’s hashrate has dropped a few percentages after reaching 288 exahash per second (EH/s) on June 8, 2022. Bitcoin miners, however, got a break on Wednesday, June 22, as the mining difficulty dropped by 2.35% making it easier for miners to find blocks. The 2.35% drop brings the difficulty down to […]

Mining

Iran to Shut Down Crypto Mining Farms Amid Record High Power Demand

Coins Legend June 21, 2022 0

Authorities in Iran plan to unplug licensed crypto mining facilities as electricity consumption in the country is reaching record highs. The mining farms will be cut off from the grid on Wednesday, the Islamic Republic’s Ministry of Energy announced. Legal Crypto Miners in Iran to Halt Operations Again Due to Electricity Shortages Authorized crypto mining […]