Crypto Mining

In order for bitcoin miners to actually earn bitcoin from verifying transactions, two things have to occur. First, they must verify 1 megabyte (MB) worth of transactions, which can theoretically be as small as 1 transaction but are more often several thousand, depending on how much data each transaction stores. This is the easy part.

(source: investopedia.com)

Large-Scale Crypto Mining Consumes 2% of US Electricity
Large-Scale Crypto Mining Consumes 2% of US Electricity
February 04, 2024  |  Cryptocurrency

How much energy does cryptocurrency mining consume in the U.S.? A recent analysis by the Energy Information Agency (EIA) estimates that large-scale cryptocurrency operations consume more...

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Crypto Miners Repurposing Infrastructure to Meet Demand for AI
Crypto Miners Repurposing Infrastructure to Meet Demand for AI
August 21, 2023  |  Cryptocurrency

Crypto miners are reportedly diversifying into several areas, including artificial intelligence (AI).  Miners have repurposed their high-performance computing infrastructure to meet the demand for gaming,...

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Standard Charter Expects Bitcoin to Reach $120,000 by End of 2024
Standard Charter Expects Bitcoin to Reach $120,000 by End of 2024
July 10, 2023  |  Cryptocurrency

Standard Chartered has raised its bitcoin price predictions after seeing increased miner profitability. The bank now projects the crypto asset to reach a price $50,000...

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Crypto Mining Firm Argo Blockchain Sells Facility to Galaxy Digital 
Crypto Mining Firm Argo Blockchain Sells Facility to Galaxy Digital 
December 28, 2022  |  Cryptocurrency

Crypto mining firm Argo Blockchain has made transactions allowing it to continue operating.  The firm said in a Wednesday (Dec. 28) press release that its subsidiary would...

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NY Man Admits Guilt in $2M Crypto Mining Fraud
NY Man Admits Guilt in $2M Crypto Mining Fraud
November 29, 2022  |  Cryptocurrency

A man has pleaded guilty to defrauding customers who bought cryptocurrency-mining products and services.  Chester J. “Chet” Stojanovich pleaded guilty Tuesday (Nov. 29) to wire...

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Sam Bankman-Fried’s Buyouts Aren’t Stopping Crypto’s Dominoes From Falling
Sam Bankman-Fried’s Buyouts Aren’t Stopping Crypto’s Dominoes From Falling
July 05, 2022  |  Cryptocurrency

Sam Bankman-Fried’s stated goal of stopping a few insolvent crypto lenders from cascading into a failed string of dominoes is starting to look a lot...

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Today in Crypto: DOJ Charges Ex-OpenSea Employee in NFT Insider Trading Scheme; SEC Targets Crypto Investing With Ads
Today in Crypto: DOJ Charges Ex-OpenSea Employee in NFT Insider Trading Scheme; SEC Targets Crypto...
June 01, 2022  |  Cryptocurrency

A former product manager at OpenSea has been charged with wire fraud and money laundering through a scheme to commit insider trading with NFTs, a...

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Today in Crypto: US Lawmakers Question Lobbyists Over Stablecoin Fall; Miners Mull Exiting NY Over Bills
Today in Crypto: US Lawmakers Question Lobbyists Over Stablecoin Fall; Miners Mull Exiting NY Over...
May 19, 2022  |  Cryptocurrency

In crypto news, the industry is hurrying to respond to concerns by U.S. lawmakers about stablecoins after the UST collapse, Reuters wrote. The Blockchain Association...

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Today in Crypto: Coinbase Streamlines Crypto Checkout in Merchant Tool; Despite Ban, China has 21% of Global Bitcoin Mining
Today in Crypto: Coinbase Streamlines Crypto Checkout in Merchant Tool; Despite Ban, China has 21%...
May 17, 2022  |  Cryptocurrency

Coinbase will integrate with Primer, which will make a more seamless crypto checkout experience, leveraging Coinbase Commerce, a company blog said Tuesday (May 17). This...

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