GMO Internet Group, a Japanese internet giant is quitting the Bitcoin mining hardware sector the main reason for this move is extraordinary loss suffered by the company in Q4 this year. GMO through a public document. The document further reads it will no longer develop, manufacture and sell miners but will relocate its mining operation.
Despite the recent bearish trend in crypto markets and fluctuations in the national rial currency economic woes by U.S. sanctions, Iranian people are still managing to gain profits from mining Bitcoin.International affairs think tank Atlantic Council study reveals they are “not seeing losses yet” due to “relatively low” prices for electricity.
An agreement has been signed by the government of Paraguay and the Blockchain Technology Foundation “Commons Foundation” to build the world’s largest mining farm. The Chairman of the Commons Foundation stated, “More than 80 percent of its electricity is exported overseas. We will build the world’s largest mining center in Paraguay using low-cost and abundant clean energy.”
Armenia has recently launched a new cryptocurrency mining facility that is worthy of $50 million on October 18th. The Multi Group Concern has partnered with the Omnia Tech International Company in launching the mining farm. The new mining farm will be used for extracting cryptocurrency such as bitcoin and Ethereum by using 3,000 machines.
Bitfarms Technologies, a blockchain mining firm, has affirmed the launch of custom-built Bitcoin mining pool, ‘Bitfarms Pool.’ The company has officially launched the Bitfarms Pool. The users joining the pool before the mid of November holding five terahash would get a lifetime 0% fee on both PPS block rewards and on block transaction fees.
The Agro, a crypto mining service provider, has declared the launch of Bitcoin on its platform. The company has observed a strong demand for Bitcoin among the customers. The users would be able to mine Bitcoin from the 1st of November. Presently, the platform supports mining of cryptos such as Bitcoin Gold, Ethereum, Ethereum Classic, Zcash, Komodo and Horizen.
The Squire Mining Ltd has affirmed Samsung as the manufacturer for its ASIC bitcoin mining chips. The Gaonchips company would be responsible for the crypto mining chipset. The Squire Mining company would be coming up with the ‘next generation’ 10nm ASIC chips. The company also has planned for the development of second generation ASIC chip.
The Bitfury Group has released a new generation of bitcoin mining hardware along with the bitcoin ASIC chip, Bitfury Clarke. The Bitfury Clarke ASIC is aimed at offering standardized performance and efficiency. Reportedly, the company provides enterprise-grade professional customer support and consultation for the integration of Bitfury Clarke ASIC to the mining operations.
The Grant County Public Utility District (PUD) has recently announced hike on the cryptocurrency mining farms electricity consumption rate. The Commissioner of PUD, Tom Flint emphasized that the cryptocurrency mining industry are unregulated and risky then explained, “This is the best way to ensure our ratepayers are not impacted by this unregulated, high-risk business.”