Canaan, a major Bitcoin mining firm based in China may have filed a $200 million initial public offering (IPO) request with United States regulators. This would make it as the first Chinese major crypto miner (the others are Bitmain, which is more popular to West & Yibang International) to successfully take its case to the U.S. market. In past Bitmain and Yibang which has tried to reach the American market, but have been refused due to highly volatile nature of Bitcoin.
An announcement has been made regarding a new partnership of Blockchain Platform TTC with one of the largest Bitcoin mining pool, BTC.com to boost adoption. The CEO of BTC.com, Zhong Zhuang explained, “TTC is a rare team in the blockchain scene with a clear go-to-market strategy and strong execution capabilities. We are excited to drive the blockchain mass adoption with TTC through this partnership.”
A reverse engineering exponent, Ken Shirriff has reportedly worked out a code that enabled him to mine Bitcoin on one of the first integrated circuit-based computers that were used to navigate the first moon landings by the National Aeronautics and Space Administration (NASA) in the 1960s. It has been estimated that it will take more than a quintillion years (1 with 18 zeros) to mine a single bitcoin block.
Minister for Communications and Information Technology of Iran, Javad Azari Jahromi has revealed that the nation is attracting Chinese Bitcoin miners due to the availability of cheap electricity. In his recent visit to China he had discussed their collaborative partnership in developing a strong digital economy & some private mining companies have expressed their interest in setting up the business in Iran.
The company Hashing24 has publicized that it is offering remote Bitcoin mining services to give users a chance to lease hashing power from industry-leading data centers that have already have their own hi-tech equipment for mining cryptocurrencies predominantly Bitcoin. It tries to solve the energy cost problem by groups of miners combine their computing hash rates and distribute any proceeds between themselves.
In Iran’s Yazd Province authorities have seized 1,000 bitcoin mining rigs. Iran has become the cheapest countries to mine bitcoin from comparing favorably with China due to its huge subsidies for cheap electricity. Moreover mosques are provided with free electricity, few images have gone viral which showed rows of mining rigs stack atop each other in what looked like a place of worship.
At MicroBT M20 conference in China, Samsung Foundries’ revealed that they are designing and developing 2nm and 5nm chips for Bitcoin mining. Last it has publicly announce that it has entered into a strategic partnership with MicroBT (one of the largest Bitcoin ASICs provider for Bitmain and Canaan). Samsung also bombast the newly produced chips to be five times more powerful and half the power consumption.
A federal court in the Hebei Province of China sentenced 61-year-old grandmother to four months in jail for stealing electricity while mining bitcoin. Authorities say Tang operated four bitcoin mining rigs, including one regulator and one mobile device using stolen electricity. Tang was charged with stealing about $1,300 worth of electricity while mining bitcoin between January and October 2018.
Bitcoin mining is thriving in Canada, where firms are capitalizing on cheap energy prices and partnering with local municipalities to generate profits. Emiliano Grodzki, founder and chief strategy officer for Bitfarms, recently told local media about efforts to bring more provinces on board to help them benefit from mining. Canada is attractive because of its energy cost efficiencies, which crypto mining operation is taking advantage.
The President of Belarus Alexander Lukashenko during his recent meeting with representatives of the IT industry has reaffirmed that the nation is bullish on digital economy and will protect and promote them. He further commented: “We will launch the atomic station and there will be surplus energy. I have left some space there – we’ll build farms and we’ll be mining and selling those bitcoins. They say if you have bitcoin it’s not a problem to sell it, right?”