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DMG Blockchain Announces New Big Client While Ending Partnership with Bitmain

Posted on January 12, 2020January 12, 2020 by Julie Williams

The Canada-based blockchain and crypto company, DMG Blockchain Solutions Inc. (formerly known as Aim Explorations Ltd.) has announced the addition of another major client, but also the termination of the partnership with the world’s largest crypto mining chip maker, Bitmain. Filled with joy for the new big partnership formed and also sour about the end of the collaboration with Bitmain, DMG released a press release to share the good news with its clients and the…

Bitmain’s Deposed CEO Micree Zhan Takes Power Struggle to the Courtroom

Posted on January 6, 2020January 6, 2020 by Julie Williams

Micree Zhan, the former executive director of Bitmain Technologies Ltd., is yet poised to achieve his goal of ‘restoring order’ in the crypto mining firm. Standing adamantly by his social media post in November last year – when the news of his ousting came out – Zhan is ready to give war to whoever wants war. “If someone wants war, we’ll give them war,” he posted at the time. And the war just got fiercer….

China Targets Bitcoin Miners in the Sichuan Province Due to Dry Season

Posted on January 1, 2020January 1, 2020 by Julie Williams

China is no fan of crypto. But no worries yet as the Chinese government isn’t kicking all the Bitcoin mining farms out of the country. Instead, it is calling for reduced activity in Bitcoin mining farms, especially those located in the Sichuan province. The province of Sichuan has a local government in China. Calling Bitcoin mining in the area to an abrupt stop shouldn’t be a big deal, right? Well, we are not so sure…

Detected: Crypto Mining Malware Hidden in Images of Taylor Swift

Posted on December 22, 2019December 22, 2019 by Julie Williams

New malicious crypto scheme detected: an ongoing crypto mining malware designed as a photo of Taylor Swift. This crypto mining botnet, which has infected millions of devices across the globe, is reportedly shared in a jpeg file of the award-winning singer Taylor Swift. A recent study by the UK-based cybersecurity firm Sophos shows that the malware’s operators are leveraging a tech method tagged steganography, which allows them to hide malicious software inside legitimate files. So,…

Arrested Founder of Bitmain’s Rival MicroBT Is Accused of Embezzlement

Posted on December 17, 2019December 17, 2019 by Julie Williams

The drama in the crypto mining arena just got a lot more intense and interesting as the founder of Bitmain’s top rival firm MicroBT is currently still in the Chinese police custody. The suspect, who was reportedly nabbed by the police at the end of October this year, happens to be one of Bitmain’s ex-employees. Yang Zuoxing was one of Bitmain’s finest chip designer at a time, and he is lauded for his role in…

China Still Rules the Crypto Mining Landscape with 66% of Global Hashrate

Posted on December 15, 2019December 15, 2019 by Julie Williams

The role that China plays in the crypto ecosystem is one that would take a whole lot to replace. New data reveals that despite casting out all forms of crypto activities, China is still the primary home to crypto mining. Statistics from a new CoinShares report show that China is the country that holds the largest share of hashrate across the globe. Hashrate is necessary for producing new digital coins. With China holding over 60%…

Over 40% Decline in Canaan’s Stock Price due to Stagnant Bitcoin Price

Posted on December 15, 2019December 15, 2019 by Rehan Yousaf

In a flip flop scenario, the China-based crypto mining hardware manufacturer Canaan Creative has suffered a sharp decline in its stock price amid a consistent wave of pressure on the price of Bitcoin. On November 21, the first day the company began being traded on the NASDAQ, Canaan’s stock was priced at almost $9; however, the stock’s closing price on December was at around $5.24. Hence, in only a few weeks span, the price of…

$722M Crypto Mining Scam ‘the BitClub Network’ Busted; 4 Men Arrested

Posted on December 12, 2019December 12, 2019 by Rehan Yousaf

U.S. Attorney Craig Carpenito announced the arrests of four men who were accused of defrauding investors during an investigation of a crypto Ponzi scheme called the BitClub Network. The fraudulent scheme was based on a whopping $722 million cryptocurrency mining scam. Yes, you’ve been reading it right, seven hundred and twenty two million dollar. The announcement was also available on the online portal of the Department of Justice where it was revealed that the BitClub…

Wu Jihan Takes Full Control of Crypto Mining Manufacturer Bitmain After Ousting Co-CEO

Posted on December 12, 2019December 12, 2019 by Rehan Yousaf

Just weeks after announcing the departure of the company’s co-founder, Micree Zhan, Bitmain’s chief executive officer Wu Jihan has taken full control of crypto mining equipment manufacturer. Jihan held a private client meeting last weekend for the first time since Micree Zhan left and addressed Bitmain’s executives regarding the company’s future. Bitman’s executives including Jihan discussed all sorts of initiatives that the company is working on in order to attract more customers at the event….

Crusoe Energy Systems Builds Gas-to-Computing Crypto Mining Farm

Posted on December 10, 2019December 10, 2019 by Rehan Yousaf

Adding to the increasing number of major cryptocurrency facilities in the global crypto ecosystem, the Denver-based energy company Crusoe Energy Systems is set to launch a new Bitcoin mining farm after raising $70 million. Crusoe Energy Systems is well known for its role in the oil and gas industry. As a matter of fact, the company is looking to help mitigate gas flaring by channeling this wasted energy to its new Bitcoin mining facility. With…

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