#Mining
All about mining Bitcoin and other cryptocurrencies - mining news in China, Russia, Ukraine and the world. To find out what cryptocurrency mining is and how it works, you can read the card about Bitcoin mining.
Another single miner has mined a block of Bitcoin with a probability of 0.0001%
On January 13, an unknown Bitcoin miner with a hardware capacity of 116 TH/s included block 718,379 in the blockchain. This was reported by Con Kolivas, administrator of the CKPool pool to which the devices are connected.
Artem Galunov 1160 01/13/2022
Report: Bitcoin miners earned $16.7 billion in 2022
In 2022, the revenue of Bitcoin miners amounted to $16.7 billion, while Ethereum miners earned $23.4 billion—40% more, according to ForkLog’s annual report.
Roman Petrov 859 01/12/2022
Hydroelectric power plant in Costa Rica resumes operations thanks to mining
The owner of a small hydroelectric power plant in Costa Rica has created a mining farm on its territory to restart the 30-year-old enterprise after months of inactivity, Reuters reports.
Roman Petrov 1320 01/12/2022
Luxor launched a platform for buying and selling Bitcoin miners
The American mining company Luxor Technology has launched a service for trading equipment for bitcoin mining, CoinDesk reports.
Roman Petrov 1337 01/12/2022
An unknown Bitcoin miner mined a block - the probability of such an event is less than 0.0001%
On January 11, an unknown Bitcoin miner with a hardware capacity of 126 TH/s included block 718,124 in the blockchain.
Anton Varanov 44364 01/12/2022
Opinion: the impact of the Internet shutdown in Kazakhstan on the price of Bitcoin is exaggerated
The fall in Bitcoin from January 5 to 7 is mistakenly associated with the cessation of mining farms in Kazakhstan due to an Internet outage. This is the opinion of Arcane Research analysts.
ForkLog 2015 01/11/2022
Jack Dorsey's company will create a team to develop a Bitcoin miner
Block (formerly Square) of Jack Dorsey has opened vacancies in the team developing a “next generation” ASIC miner and a hardware wallet “for the next 100 million Bitcoin users.” This is stated in the corresponding section on the website.
ForkLog 1380 01/11/2022
CEO Uminers: The cheap “outlet” in Russia is over
In an interview with ForkLog, Uminers founder Batyr Khydyrov spoke about the attitude of Chinese regulators towards miners, the impact of the semiconductor shortage on the industry and the prospects for mining in Russia.
ForkLog 11826 01/11/2022
Police detained suspects in mining-related fraud in Tyumen
Law enforcement officers detained two suspects in Tyumen for organizing a fraudulent scheme related to mining. The Ministry of Internal Affairs reports this.
Caroline Salinger 668 01/11/2022
Tenants of a bankrupt factory in Orel face 5 years for stealing electricity for Bitcoin mining
In 2022, a bankrupt company in Oryol became the region's largest utility debtor.
Lena Jess 2822 01/11/2022
Georgian authorities intend to solve the problem with illegal miners due to electricity shortages
The Government of Georgia and the energy distribution company Energo-pro Georgia are addressing the problem of illegal cryptocurrency mining in Svaneti. This was stated by Georgian Minister of Economy Natia Turnava.
Caroline Salinger 1007 01/11/2022
More than 300 Bitcoin miners confiscated in Kosovo
Law enforcement agencies of the partially recognized state of Kosovo, during joint raids with customs, confiscated more than 300 Bitcoin mining devices.
ForkLog 2045 01/10/2022
Mining data centers in Kazakhstan have resumed work amid the restoration of access to the Internet
Almost all Kazakh legal mining data centers have begun to resume work, Alan Dordzhiev, head of the National Association of Blockchain and Data Center Industry of Kazakhstan, told ForkLog.
Caroline Salinger 1414 01/10/2022
Ethereum mining software added to Avira antivirus
The developers of the Avira antivirus have added software for mining Ethereum cryptocurrency to the product. Previously, a similar feature was implemented in Norton 360.
Caroline Salinger 2762 01/10/2022
Experts doubt the possibility of earning $800 by mining Ethereum through Tesla
San Francisco resident Siraj Rawal uses his 2022 Tesla Model 3 to mine Ethereum cryptocurrency.
Lena Jess 2304 01/10/2022
In Dagestan, 254 mining devices ran on stolen electricity
In two weeks, security forces seized three mining farms illegally connected to the power grid in the Novolaksky district of Dagestan, totaling 254 devices.
Lena Jess 2817 01/10/2022
BitNile reported the purchase of 20,600 miners from Bitmain
Mining holding company Ault Global Holdings has entered into agreements to purchase a total of 20,600 ASIC devices. This is stated in the press release.
ForkLog 2916 01/03/2022
Bitcoin mining in 2022: the Chinese ban has changed the balance of power
The ban on mining in China brought the United States to first place in Bitcoin hashrate, miners' income set new records, but at the same time the industry was faced with a shortage of semiconductors. Let's remember what 2022 will be like for the mining sector.
Roman Petrov 8613 12/31/2021
Customs officers discovered 10 smuggled Bitcoin miners near Rostov
Inspectors of the Matveev Kurgan customs post did not allow undeclared cryptocurrency mining devices to cross the border.
Lena Jess 3567 12/29/2021
The construction of a nuclear power plant was discussed in Kazakhstan amid the migration of Bitcoin miners from China
The authorities of Kakhastan have returned to the issue of creating nuclear power generation in the country to combat the electricity shortage.
Lena Jess 1938 12/29/2021
In Irkutsk, traffic police patrol detained suspects in the theft of ASIC miners
In Irkutsk, police accidentally uncovered a major theft of mining equipment.
Lena Jess 1355 12/28/2021
Thieves of ASIC miners from Angarsk will appear in court
In Angarsk, a criminal investigation has been completed against four local residents accused of a series of thefts of cryptocurrency mining equipment.
Lena Jess 777 12/27/2021
Hackers used a vulnerability in Log4j to mine Hewlett Packard servers
Attackers took advantage of a vulnerability in the popular Log4j library to gain control of AMD EPYC-based servers to mine the Raptoreum cryptocurrency. Tom's Hardware reports this.
Caroline Salinger 1010 12/27/2021
Iran reintroduces restrictions on cryptocurrency mining
State energy holding Tavanir demanded that authorized miners suspend operations. The Financial Tribune reports.
ForkLog 1090 12/27/2021
In Smolensk, the rector was suspected of mining on the territory of the university
The Investigative Committee of Russia opened a criminal case against the rector of the Smolensk State University of Sports, Georgy Grets, for allowing the location of a mining farm.
Anton Varanov 1959 12/25/2021
Mining farms illegally connected to power grids have been found in Dagestan. The damage amounted to 2.5 million rubles
Law enforcement officers discovered mining farms illegally connected to power grids in Dagestan.
Caroline Salinger 6935 12/24/2021
Marathon will increase hashrate by 600% after “record” purchase of miners from Bitmain
The American mining company Marathon Digital Holdings has entered into a contract with Bitmain to purchase a “record number” of Antminer S19XP bitcoin miners.
Roman Petrov 2934 12/24/2021
The management company mined cryptocurrencies at the expense of residents of a high-rise building in Odintsovo
In Odintsovo, near Moscow, employees of a management company installed ASIC miners in an apartment building and mined cryptocurrencies at the expense of the residents.
Lena Jess 9692 12/23/2021
In Dagestan, they began to fight against miners illegally connected to power grids
The Chairman of the Government of Dagestan, Abdulpatakh Amirkhanov, held a meeting to discuss combating the illegal consumption of electricity for the mining of cryptocurrencies.
Caroline Salinger 1130 12/23/2021
Because of Bitcoin miners, regions of the Russian Federation were allowed to set their own energy tariffs
Russian regions received the right to set electricity tariffs for the population depending on consumption volumes.
Lena Jess 6511 12/23/2021
A mining farm was discovered at the University of Smolensk
On the territory of the Smolensk State University of Sports, unknown persons were mining cryptocurrencies.
Lena Jess 1667 12/22/2021
Stronghold raised $54 million and bought 9,080 Bitcoin miners
The American mining company Stronghold Digital Mining has entered into four separate agreements to purchase 9080 ASIC miners for Bitcoin mining produced by Bitmain and MicroBT.
Roman Petrov 2380 12/20/2021
In the Irkutsk region, mining equipment was stolen through a hole in the roof
In the Shelekhovsky district of the Irkutsk region, the police uncovered a series of thefts of equipment for mining cryptocurrencies.
Lena Jess 2988 12/20/2021
The court sentenced an ex-policeman from Saratov caught mining
A court in Saratov found a former traffic police officer who was involved in mining at work guilty of abuse of office.
Lena Jess 2449 12/20/2021
More materials
Buy a mining farm
A very popular request in Yandex. More than 30,000 people searched for how to buy a farm in the last month. Another 70,000 people simply searched for “buy a farm,” but we all know what kind of farm we are talking about. A total of 100 thousand people per month is not bad. Moreover, these are only the laziest. Those who count money are looking for “how to build a farm.”
And all this against the backdrop of a sharp drop in cryptocurrency rates. It's a little confusing. Let's look further at the fall. We will look at Ether, since it is the main currency for home mining using farms, and not ASIC devices. By the way, if you don’t know, read the difference: What is more profitable - an ASIC or a GPU farm on video cards?
Today's realities of cryptocurrency mining
Before looking into the future, let's find out what the current situation is in the digital money mining industry.
Both before and now, crypto mining is primarily of interest to users from the point of view of possible material benefits. True, before it was much easier to extract this benefit. Any person who had a more or less powerful computer could join the process of generating new coins, which cannot be said about the current moment. Now, in order to be called a miner, you must first invest a tidy sum in organizing this business.
Indeed, the methods of “digging” digital money, which were popular and relevant just a couple of years ago, are now outdated and ineffective. The key to the success of modern mining is the presence of powerful modern equipment designed for crypto mining. And it is very expensive, and also tends to become outdated, since the complexity of the process is constantly increasing. And if so, the equipment requires updating from time to time, which again is impossible without costs.
Does this mean that this activity is now only available to people with means? Not really. Solo mining was replaced by mining in pools, that is, simple miners began to pool their power in one center and work collectively to calculate blocks. Although here, too, the requirements for participants are constantly growing, as the industry develops and becomes more complex.
From all that has been said above, the conclusion suggests itself that mining, as a way of earning money, is losing its position and will soon become a thing of the past. But is this really so? What do experts say about this? It is these questions that we will try to answer in this article.
Is mining not profitable?
Of course. Tell this to everyone who mines.
- Are there any guarantees that income will not fall?
- None!
Nobody knows what will happen tomorrow. Maybe everything will be covered with a copper basin. Or maybe, on the contrary, the exchange rate will soar and the farm will become the “hen with the golden eggs.” You shouldn’t ask this question to people on the Internet, you need to make a decision yourself: are you ready to take the risk? However, as of today, January 23, 2022, it is possible to unequivocally answer the question in the title of the article:
Just a few technical details
All work is carried out on a virtual network. It consists of computational operations, their volume is very large, and as a result of these mathematical operations the user receives a certain digital code, which is the key to creating the next block (new money). All data about this money, as well as about other similar ones, are placed in the blockchain, a kind of virtual storage where all transactions without exception are recorded.
As a rule, each crypto system has a limit on both the total number of coins that will be issued and the number of virtual currency units generated over a certain period of time. The number of people looking for additional income in this area is constantly growing, and this makes it very difficult to generate new blocks and reduces the profits of users who engage in it.
To put it very, very simply, the algorithm for the mining process is as follows: you download special software onto your computer, which, using some part of the power of your device, carries out the calculations necessary to solve a certain problem of the system. When the value found by your machine turns out to be such that it meets all the system requirements, it means that you have solved the problem. The found block is added to the blockchain, and the one who solved the problem (it can be one person or many) is rewarded with a certain number of coins provided by one or another crypto network.
This is how it happened at the dawn of the era of cryptocurrencies, and this is how it happens now. It’s just that more and more productive devices are required every year to operate. Some coins, like Bitcoin and several other most popular cryptocurrencies, are mined only by large players, since ordinary users are not able to provide the technical basis for their mining, and so on. Therefore, there is a need for constant analysis of this market from the point of view of its prospects for the future.
Thailand has adopted rules for ICOs
The new laws come into force on July 16 this year. Here are the rules that will apply:
- An individual can invest up to $9,000 in an ICO (at today's baht exchange rate)
- Only a narrow list of cryptocurrencies is allowed: BTC, ETH, XRP, BCH, LTC, ETC and Stellar.
- The organizer must have capital on hand of $150,000 or more.
It is noteworthy that the list of permitted cryptocurrencies includes all TOP-7 coins, except EOS. The rationale for this decision is unclear.
Ethereum price in rubles
The ruble exchange rate has been surprisingly very stable in recent months, so you can evaluate the price of ETH in both rubles and US dollars - there will be no difference. Throughout the fall of 2022, we joked on the 2 Bitcoin Telegram channel that Ethereum was having Groundhog Day. It always costs $300 (17,000 rubles).
At the end of 2022, Ethereum rapidly grew to 80,000 rubles, and at the beginning of 2022, it actually fell to 60,000 rubles. But wait, this is 3 times more than a few months ago! Let's not be unfounded and do a little calculation.
