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CEO of Chinese Mining Firm MicroBT Is Arrested After Bitmain’s Infringement Allegations

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

China’s Shenzhen Police has arrested Zuoxing Yang, known as the CEO and founder of MicroBT, a Bitcoin(BTC)trade mining equipment manufacturer based in China. According to the city police, Mr. Yang has been held to assist the investigators regarding a dispute between MicroBT and Bitmain in which the latter accuses the former of exercising intellectual property infringement. MicroBT is a technology company which is focused on different developments related to blockchain and artificial intelligence. It especially…

Crypto Mining Manufacturer Bitmain Files for IPO With the US SEC

Posted on October 31, 2019October 31, 2019 by Julie Williams

News making rounds suggest that the China-based Bitcoin mining giant, Bitmain Technologies, has resolved to seek an initial public offering (IPO) from the United States Securities and Exchange Commission (SEC). The crypto community woke up to the news of the secret IPO listing with the SEC on October 30 after prior rumors. According to a report by local news website Tencent News, the Bitcoin mining hardware manufacturer decided to let go of the Hong Kong…

Bitcoin Mining Manufacturer Canaan Creative Files to List on Nasdaq

Posted on October 31, 2019November 14, 2019 by Rehan Yousaf

One of China’s largest crypto mining hardware manufacturers, Canaan Creative, has filed to list on the Nasdaq on Monday. The Nasdaq is an electronic exchange where stocks are traded through a digital platform instead of a trading floor. Canaan Creative is set to raise $400 million as it aspires to get listed after previously having failed twice in both China and Hong Kong, marking this as the company’s third initial public offering (IPO) attempt. Canaan…

Closed Russian Aluminum Plant Switches Over to Bitcoin Mining Farm

Posted on October 30, 2019October 30, 2019 by Julie Williams

Russian news outlet RBC reports that the Nadvoitsy Aluminum Plant of the second largest aluminium company in the world, Rusal, is set to reopen activity on its old site but this time as a Bitcoin(BTC)trade mining farm. The metal plant was one of the largest in Russian before it was closed last year. Following the sanctions imposed by the United States Office of Foreign Assets Control (OFAC) on Rusal, the metal plant lost a large…

Chinese Crypto Mining Giant Bitmain Discards Co-Founder and Executive Director Micree Zhan

Posted on October 29, 2019October 29, 2019 by Rehan Yousaf

The Beijing-based cryptocurrency mining manufacturing company, Bitmain, has undergone corporate reshuffling as the co-founder and executive director Micree Ketuan Zhan has been removed. The information was released by an internal email sent to the staff and reported on the Chinese media. Chinese news outlets report that another co-founder of the company, Jihan Wu, sent an email to the staff with the subject “Important Notice.” The email was sent on Tuesday around noon and the contents…

Bitmain Builds the Largest Crypto Mining Farm Globally in Rockdale, Texas

Posted on October 24, 2019October 24, 2019 by Julie Williams

Back on its feet, the world’s largest crypto chip maker Bitmain has made good of its promise to the people of Rockdale, Texas, and the global crypto community at large. You will recall the chip maker promised to create a crypto mining farm in Rockdale last year. Just when hopes were running high and Texas locals were looking forward to the positive influence of such a huge project, the hammer came falling. The crypto community…

New Research Suggests Bitcoin Mining Can Be Environmentally Friendly

Posted on October 22, 2019October 22, 2019 by Rehan Yousaf

It has been argued countless times that Bitcoin(BTC)trade is in general not good for the environment. More specifically, the energy required to mine Bitcoin is tremendous and since a major source of our energy globally comes from non-renewable energy sources like coal, Bitcoin mining is contributing to the release of harmful gases such as CO2 (carbon dioxide) that are in general not good for the environment and are in fact expediting global warming. We are…

Singaporean Man Stole Identities and Cloud Computing Power to Mine Cryptocurrencies

Posted on October 11, 2019October 11, 2019 by Ravi Rd

The US Justice Department has indicted a Singaporean man for impersonating various business personalities, faking the identity of video game developers and exploiting Google Cloud and Amazon Web Services (AWS) in order to mine cryptocurrencies including Bitcoin(BTC)trade, Litecoin (LTC)trade and Ethereum (ETH)trade. It is not the first time that crypto fraudsters have been impersonating various personalities and celebrities to manipulate innocent investors. However, it is the first of its kind case in which the scammer…

Russian Engineer Used a Supercomputer to Mine Bitcoin at Nuclear Facility

Posted on October 3, 2019October 3, 2019 by Ravi Rd

A Russian engineer caught illegally mining Bitcoin(BTC)trade, using one of the country’s most powerful supercomputers at a Russian nuclear lab located near the city of Sarov. He has been fined 450,000 rubles, or $7,000, as reported by the Moscow Times. Bitcoin mining is getting popular with the arrival of new mining hardware rigs with greater hash power including ASICs. However, it can cost the miner a lot higher if certain requirements are not fulfilled. So,…

Bitmain to Hook Up Crypto Miners with Low-Cost Mining Destination

Posted on October 1, 2019October 1, 2019 by Julie Williams

Bitmain, one of the biggest players in the crypto mining industry, announced on Thursday its intention to help hook up crypto miners with suitable mining shops across the globe. You will recall that the cryptocurrency mining firm is yet to regain its glory that the crypto winter of 2018 took from it. As one of the biggest mining chip makers, Bitmain suffered a huge loss last year when the price of Bitcoin(BTC)trade and other digital…

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