Crypto Mining

Since the launch of blockchain technology in 2011, the financial world has welcomed many other related projects. One of the most innovative yet simple ones is using Non-Fungible Tokens (NFT). An NFT is a unit of data stored on a blockchain, and it assigns unique tags to digital assets which are not subject to any form of change. Even though NFTs sit on the same blockchain technology as cryptos, they are not currencies. Since their debut, NFTs have proven themselves as…

El Salvador has continued to stay fresh among crypto investors. The country made a landmark decision to approve Bitcoin as a legal tender earlier this month. However, El Salvador isn’t stopping there. The government has found another frontier to conquer - the mining space. Turning Volcanoes to Money On Tuesday, El Salvador’s president Nayibb Bukele teased a coming geothermal crypto mining operation. Bukele shared a video on Twitter. In it, he revealed progress with work on the facility. The proposed…

Bitcoin is relatively consistent on Wednesday at around $46,300 per coin, while rivals Ethereum and Dogecoin were trading around $3,220 and 26 cents per coin. The Bitcoin price broke past $46,000 on Monday morning. This happened after a high-stakes weekend for the crypto industry as the Senate discussed its part in the still expected infrastructure bill. Still, on Monday, Bitcoin traded as high as $46,465, the highest level it has accomplished since May 16, when it hit $49,770.33. Ethereum's London…

The Mechanicville NY plant operated by Albany Engineering Corp. has shifted to mining Bitcoin, saying that it brings more profit than selling electricity.  The company's operation started in 1897 as a hydroelectric plant, and it now plans to use some of its energy for Bitcoin mining. According to its CEO, Jim Besha, they expect that the new venture will earn them more money than providing electrical power to Nationwide Grid. Bitcoin Mining and Electricity  Bitcoin mining is an energy-intensive activity…

Bitcoin mining companies in the west yield has become more accessible and profitable, as the pool of miners competing to form tokens shrinks due to China's strict crackdown on the country's crypto operations. Miner competition is currently at a considerable low; thus, mining companies are seeing higher profits. Moreover, these profits are more significant than the losses due to the drop in BTC. Therefore the gains are positive overall. Stock prices of some of the biggest bitcoin mining companies saw…

The cryptocurrency world has its share of success stories and tales of bankruptcy – including scams. However, over a decade since cryptocurrencies became a reality, the sector has advanced rapidly to the present-day solid, stand-alone market. Knowing how to invest in cryptocurrency may seem complicated, especially for beginners in trading, but it can be a profitable venture with the correct information. In today's guide, we will focus on mining vs. day trading vs. hodling; thus, read on to find out…

China's crackdown on cryptocurrency mining has extended to the southwest province of Sichuan, reversing its previous lenient stance on the sector amid a national crackdown against these significant power-intensive activities. As a result, the authorities ordered cryptocurrency mining projects to close in the major mining center. According to data compiled by the University of Cambridge, Sichuan is China's second-biggest bitcoin mining province. The recent development will further cut down computing power for crypto mining after third-place Inner Mongolia conducted a…

Blockchain technology is a robust network designed to ensure that cryptocurrencies/ digital currencies remain reliable and serve their inception purpose. Therefore, learning about blockchain and cryptographic processes is fascinating to technology enthusiasts and beginner investors. Generally, cryptocurrencies are released in the blockchain through a process called mining. Although mining adds the blocks onto the chains, a preceding validation process streamlines everything for mining. So what are validation and mining? What differentiates the two? Keep reading to understand the way new…

The state of Kentucky lawmakers has voted to approve a bill providing tax breaks to crypto miners. This development could herald the transformation of Kentucky into a significant crypto mining haven in the United States.  Crypto Mining Bill Approved  U.S news outlet the Lexington Herald revealed this development in a report on Tuesday. According to the report, the Kentucky House budget committee approved a crypto bill tilted House Bill 230. The bill sought to remove sales tax dues from electricity purchased by…