Crypto Mining

Ethereum mining pools have removed thousands of mining platforms from the networks, reports from  March 20, 2020 indicate. The move aims at providing computational power to a coronavirus research project. Leading the initiative is CoreWeave, a U.S based miner operating on the ETH blockchain. The firm said that it would redirect its GPU computing power to Stanford University’s Folding@home. The project was launched on February 27, 2020, to advance research on the deadly Coronavirus. In a blog post, Folding@home  explained:…

While bitcoin mining is quite a profitable venture, it comes with a negative environmental impact that can't be ignored. Revealing research by PWC's Alex de Vries paints a very startling picture. About 98% of existing crypto mining hardware will become obsolete quite soon. That's a lot of e-waste in waiting. Shorter Life Spans of ASIC Miners Expected The competitive nature of mining is always on the increase thanks to sustained surges in hash rate and mining difficulty. In about 10…

It's no doubt that the coronavirus pandemic has vastly affected the financial world. It is so much that its effects have been seen in the global Bitcoin mining power, reducing the growth of the computing power of the Cryptocurrency. Different miners in the industry, especially in the Asian regions, have seen different experiences, with others increasing their market share while others struggle to maintain balance. Among the platforms that dominate crypto mining is Bitmain, which has been the leader since 2017.…

Ukrainian authorities are currently noticing that there is no need for government oversight bodies to conduct regulatory operations in the Crypto mining field.   The Ukraine Ministry of digital transformation on February 7th released a manifest on virtual assets, i.e., crypto assets. In this release, they particularly stated that government regulations are not necessary for Crypto mining. The crypto world does not need regulations since it's self-regulated by the protocol and network members.  Similarly, the ministry highlighted the development and implementation…

A study revealed that 74.1% of Bitcoin mining gets powered by renewables; therefore, the activity does not use a high carbon footprint. Kazakhstan is prosperous in reducing the energy it consumes every year by 25 to 45%, within the previous five years, through a pilot aimed at heating residential buildings. On the other hand, Bitfury, a blockchain development company, is ready to partner with UNDP towards the conservation and increment of the forestland in Kazakhstan. On the 14th of January,…

Most people have presented their criticisms in light of the BTC mining processes presented as contentious aspects. This is an enlightenment of the sensitive nature that is presented in the BTC mining process. Also, many individuals in society present their financial freedom, all based at the expense of environmental depletion. Following these claims that have been decided by various individuals is also following insights of possessing decentralized currency that shows unbalanced environmental expenses, basing gold as a significant store-of-value that…

When Bitcoin launched in 2009, technological and financial experts wanted to see how a digital currency could function. Satoshi Nakamoto, the currency and blockchain creator, introduced proof of work algorithms designed to mine and increase coin circulation. Many blockchains that launched afterward used crypto mining to release new coins.  Crypto mining is primarily the process of gaining new cryptocurrencies by participating in block validation. It mainly involves solving computational puzzles, adding new transaction records to the blockchain, and creating new…