Category: Mining

Penalty for mining BTC on nuclear research center supercomputer

CRYPTO WORLD
nuclear mining

An employee at a nuclear research center in the closed town of Sarov in Russia was fined for illegally mining Bitcoin (BTC). Convicted to pay $7,000 fine According to a Sept. 27 article by Russian news outlet Meduza, a man was fined 450,000 rubles ($7,000) for trying to mine Bitcoin by using a petaflop-capable supercomputer at his workplace, the All-Russian Scientific Research Institute in Sarov, Russia. Sarov, about 230 miles east of Moscow is a closed town as it is the Russian center for nuclear weapons research. The court delivered…

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BitHarp released high performance cryptocurrency mining rigs

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Harp Miner

A distinguished manufacturer of cryptocurrencies, BitHarp Group Limited www.BitHarp.com is delighted to announce the launch of two new high-performance liquid mining rigs capable of delivering excellent usage capabilities and unprecedented profit making potential. With high hash rate and low power consumption, the two rigs named Lyre Miner and Harp Miner are designed to provide ROI within just one month. A powerful and compact mining rig, Lyre Miner can fit in a limited space and offers useful features such as a touch screen interface for easy operation and monitoring. On the…

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Privacy-Focused Coin Zcash Forks Into New Blockchain Network Ycash

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Ycash - YEC

Privacy-focused digital currency Zcash (ZEC) has forked into a new blockchain network dubbed Ycash, whose total supply amounts to 21 million coins. According to a tweet by the Ycash Foundation, the first block of Ycash was mined today, July 19, at 7:36:51 PM PDT. Ycash forked off Zcash blockchain at block height 570,000 and is independent from both the Electric Coin Company, the firm behind Zcash, and the Zcash Foundation. The Ycash project was initially announced in April, when the Ycash team member Howard Loo revealed in a forum post…

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Bitmain Announces Energy-Efficient ASIC Chip for Mining Bitcoin and Bitcoin Cash

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Bitmain has announced 7nm ASIC mining chip

Chinese mining giant and ASIC hardware producer Bitmain has announced its next generation 7nm (nanometer) ASIC mining chip, according to a press release published on Monday, Feb. 18. The new mining hardware, BM1397, is designed for mining cryptocurrencies that use the SHA256 algorithm for their proof-of-work (PoW), such as Bitcoin (BTC) and Bitcoin Cash (BCH). BM1397 requires less power for mining cryptocurrencies, representing a 28.6 percent improvement in power efficiency in comparison with the company’s previous 7nm chip, BM1391. The new chip will be used in new Antminer models —…

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The First Bitcoin Block Was Mined 10 Years Ago Today

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Bitcoin 10 years

Bitcoin’s Genesis block, which was mined on January 3, 2009, at 18:15:05 UTC, is now 10 years old. The Bitcoin Network Turns 10 The marking of the 10th anniversary of Bitcoin’s block 0 is, however, not to be confused with the Bitcoin whitepaper’s 10th birthday which was commemorated last year on October 31 in remembrance of the day the whitepaper titled “Bitcoin: A Peer-to-Peer Electronic Cash System” was released. As CCN reported earlier, Seychelles-based bitcoin exchange, BitMEX, has marked the day by placing an ad on the front page of…

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Crypto-miner steals your password and disables antivirus

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Linux.BtcMine.174

Malware targeting Linux users may not be as widespread as the strains targeting the Windows ecosystem, but Linux malware is becoming just as complex and multi-functional as time passes by. The latest example of this trend is a new trojan discovered this month by Russian antivirus maker Dr.Web. This new malware strain doesn’t have a distinctive name, yet, being only tracked under its generic detection name of Linux.BtcMine.174. But despite the generic name, the trojan is a little bit more complex than most Linux malware, mainly because of the plethora…

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Crypto mining giant BitFury raises $80 million in private placement

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BITFURY crypto world network news

BitFury, a crypto mining company, has announced the closing of a private placement investment of $80 million, bringing the total funds raised by the firm to $170 million since its Series A round in 2014. The round, according to an official press release, was led by a Paris-based venture capital firm Korelya Capital. Mike Novogratz’s Galaxy Digital, Macquarie Capital, Dentsu Inc., Armat Group and others also participated in the Series C funding round for the San Francisco crypto company. Greg Revenu, Managing Partner of Bryan, Garnier & Co, a Europe-based…

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New mining manufacturer Linzhi announces Ethereum ASIC Miner

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Ethereum ASIC Miner

Chen Min, the former chief chip maker at Bitcoin mining chip developer Canaan Creative, is turning her attention to Ethereum. Announcing her venture at the Ethereum Classic Summit in Seoul, South Korea, Chen’s new company, Linzhi, will focus on building cryptocurrency mining devices, and its first official products are a series of application-specific integrated circuit (ASIC) miners designed specifically for Ethereum and Ethereum Classic. Ethereum ASIC miners are relatively new. The first group arrived five months ago in April by way of Bitcoin mining giant Bitmain. Known as Antminer E3s,…

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Bitmain valued at $12B in new funding round

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Bitmain office

Chinese cryptocurrency mining equipment producer Bitmain has been valued at approximately $12 billion following a Series B funding round. The company is also reportedly mulling a pre-IPO funding round “in the future”. Chinese cryptocurrency mining equipment producer Bitmain has been valued at approximately $12 billion following a Series B funding round, local news outlet Caixin reported on Friday, citing anonymous sources familiar with the matter. Bitmain has reportedly raised between $300 million to $400 million from Sequoia Capital subsidiary Sequoia China, US hedge fund Coatue and Singapore-based governmental investment fund…

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$90,000 worth of Monero with a simple Docker Hub trick

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Monero mining

A series of malicious cryptojacking files that were stored on Docker Hub, a code repository site, have been downloaded more than 5 million times over the last year, helping a hacker infect countless computers that were used to mine about $90,000 worth of Monero, according to research from cybersecurity company Kromtech. Monero is a popular cryptocurrency that’s become known for its usage among cyber criminals. In a blog post published Tuesday, Kromtech discussed how the boobytrapped files had remained on Docker Hub for so long despite being noticed and reported…

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