Mining

Giga Watt: Bitcoin Mining Company Finally Shutting Down Amid Unpaid Power Bills and Bankruptcy Hearings: Token To Be Worthless

A user contacted CCN with information related to Giga Watt, a Bitcoin mining company finally going out of business after declaring bankruptcy in November 2018. The firm lasted a little over a year, launching with an ICO model in September 2017. The business model of Giga Watt was slightly different than other hosted mining solutions. […]

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BitTorrent Creator Aims to Kill Bitcoin with the Green Cryptocurrency “Chia”

Advertisement Known for inventing torrenting (BitTorrent) in the early noughties, Bram Cohen might also end up getting famous for an entirely different thing – solving the electricity wastage problem of bitcoin. Cohen’s newest creation, a cryptocurrency known as Chia which bills itself as ‘green money for a digital world’, is the very antithesis of bitcoin. […]

Mining

Abkhazia Eyes Crypto Mining Regulations amid Fears of Winter Power Shortages

Advertisement A state-run energy company in Abkhazia is calling for the regulation of cryptocurrency mining activities to avoid the partially recognized republic being plunged into darkness this winter. According to Eurasianet, the cryptocurrency mining farms in Abkhazia, which are mostly located in abandoned Soviet factories, are guzzling a significant amount of electricity. As a result, […]

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ICO Market is Dead: Crypto Investor Barry Silbert

Advertisement Twitter Facebook LinkedIn CCN is expanding. Are you our next full-time journalist from the West Coast USA? Send us your CV and examples here. The ICO market is dead, but that won’t hamper the inevitable growth of the cryptocurrency market, says Barry Silbert, the founder of crypto investment fund Digital Currency Group. Silbert said […]

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Bitcoin Miners are Selling Old ASICs for Scrap Metal as Price Decline Hastens Obsolescence

Advertisement Twitter Facebook LinkedIn Over the past several days, there has been much debate within cryptocurrency circles about a series of videos and images allegedly showing Chinese crypto mining firms dumping bitcoin miners on the street. BRUTAL: this is what’s happening now in a China based mining site …. 😨😨 pic.twitter.com/gcN4lVTyBt — Dovey Wan 🦖 […]

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Norway Removes Tax Breaks for Bitcoin Mining, A ‘Disaster’ Says Bitcoin Company

Advertisement Twitter Facebook LinkedIn Norway, a country known for its green crypto mining outfits, has decided to roll back a tax structure which previously allowed cryptocurrency miners to be taxed on power consumption at the same rate as other industries which use a lot of energy, according to a local news outlet. A parliamentary representative […]