‘We Have to Spend Money Carefully’ – Huobi Confirms Lay Offs Despite Profits

The prolonged bear market hasn’t yet managed to throw one of the leading cryptocurrency exchanges, Huobi, in the negative. However, despite still being profitable, the company is letting people go in an attempt to “spend money carefully.” Huobi Tightens Belt Huobi is a China-based cryptocurrency exchange with around $300 million in daily traded volumes, making […]

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Japan’s Internet Giant GMO Quits Mining Hardware Bussiness

GMO Internet says it will no longer develop, manufacture, and sell Bitcoin mining hardware following significant losses incurred in Q4 2018. The Japanese IT company will instead focus on its in-house mining activities following a comprehensive revenue review. GMO Internet Downsizing Bitcoin Mining Operations In a statement Dec. 25, 2018, the IT behemoth announced the shuttering […]

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Bitmain Fires Entire Bitcoin Cash Development Team: Report

Things appear to be far from well with Bitcoin Mining firm Bitmain as several reports indicate another round of employee layoffs at the firm. This news follows reports that the company’s IPO is also dead in the water after rumors of Q3 losses running into over $700 million. Bitmain on Firing Spree According to Blockstream […]

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Bitcoin Mining Giant Bitmain Is Collapsing – And It Only Has Itself To Blame

The Israeli research and development arm of cryptocurrency mining giant Bitmain will close, resulting in the firing of all 23 staff due to market “turmoil.” Glikberg: Bitmain ‘Forced’ To Reevaluate As local media outlet Globes reported December 10, Bitmain, which continues to face financial problems of its own this year, will formally end all activities […]

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Bitmain, Roger Ver, Kraken Sued as Bitcoin Cash Nightmare Continues

Roger Ver, Bitcoin.com, Bitmain, and Kraken are all sued by UnitedCorp over an alleged complot to hijack the Bitcoin Cash network for their own personal gain. United Corp. Sues Bitcoin.com, Bitmain, Kraken If the Bitcoin Cash fork fall-out that made November one of crypto’s most volatile months on record wasn’t bad enough, the nightmare continues. Although, […]

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Sweden Braces For Migrant Caravan Of Norwegian Bitcoin Miners

Data center managers in Sweden are expecting a deluge of inquiries from cryptocurrency mining operations in Norway. The Norwegian authorities this week revoked energy tax subsidies for the sector, throwing the future of many companies into doubt. ‘The Dirtiest Form of Cryptographic Output’ Up until this week, mining firms in Norway qualified for the same […]

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Trump Trade War Tariffs Compound Bitmain IPO Woes

Bitmain’s beleaguered IPO faces further challenges as the latest Trump tariffs hit mining hardware. The situation is also likely to affect planned IPOs by Canaan and Ebang according to the South China Morning Post. Financial Controversy Bitmain must have hoped that the controversy regarding its oft-touted IPO was behind the company. At the end of September, Bitmain publicly […]

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Houston Rockets Inks Sponsorship Deal with Bitcoin Mining Pool ‘AntPool’

Popular National Basketball Association (NBA) team, Houston Rockets, recently entered into a sponsorship agreement with AntPool, one of the largest Bitcoin mining pools. The deal sees the Bitmain-owned AntPool sponsoring the Rockets for the upcoming 2018/2019 NBA season. Houston Rockets…to the Moon? According to SportsPro Media, the deal followed AntPool’s announcement of its newly built […]

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Bitmain Activates Controversial ‘AsicBoost’ for Antpool

New evidence suggests that Bitmain controlled AntPool has activated a controversial hack on its mining operations. The AsicBoost hack supposedly gives a 20% efficiency boost when mining. The Big Reveal Tracking website, AsicBoost Block Explorer, identified that block #530042 was indeed mined by AntPool using the technology. In fact, roughly 4% of blocks mined in the past week […]

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Japan’s Internet Giant GMO Abandons Bitcoin Cash Mining

Japanese internet giant GMO has switched its entire mining capacity from Bitcoin Cash (BCH) to Bitcoin (BTC) as of July 2018. GMO Mines 568 Bitcoin Blocks In July A copy of the company’s monthly mining report uploaded to social media by cryptocurrency business investor Trace Meyer confirms that in July, GMO mined 568 Bitcoin blocks […]

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