Since the price of Bitcoin began to rapidly rise almost a decade ago, Bitcoin miners have designed their digital computers to participate in its Proof-of-Work consensus mechanism. By providing computer systems that solve complex mathematical problems and help to verify new blocks, miners are rewarded in Bitcoin. While this cryptocurrency was increasing in value, miners were able to make a fortune from the practice.
Category Archives: Mining
ExxonMobil To Expand “Green” Bitcoin Mining Pilot Program That Leverages Excess Natural Gas
In what is becoming a more common industry practice, Exxon Mobil, the United States’ largest oil and gas producer, has announced its plans to initiate a pilot Bitcoin mining program by rerouting excess natural gas, which would normally be flared or burned off, to its Qua Iboe Terminal in Nigeria to power Bitcoin mining
ConocoPhillips To Sell Natural Gas To Third-Party Bitcoin Miner
ConocoPhillips, the world’s largest independent exploration and production company, has agreed to sell natural gas that would have been otherwise been flared to a third-party Bitcoin miner located in the second-largest major shale play in the Bakken, North Dakota.
Google Cloud Ramps Up Security With Virtual Machine Threat Detection To Combat Crypto Mining Attacks
Google Cloud will be expanding its suite of security capabilities to include detection for cryptocurrency mining in virtual machines, zeroing in on a common but difficult threat to identify.
Iron Hammer, Paper Hands: Russia Jumps On Crypto Ban Wagon, Moves To Outlaw Crypto Mining And Investment
On Thursday, Russia’s Central Bank launched a proposal to ban both cryptocurrency investments and mining, joining in a chorus of governments around the world cracking down on digital currencies while highlighting the various threats cryptocurrencies pose to monetary stability and private citizens.
Crypto Mining Firm Bitdeer Technologies Agrees To Merger With Blank-Check Firm Blue Safari Group Acquisition Corp With Four Billion Dollar Valuation
In a press release issued Thursday, Bitdeer Technologies announced it has agreed to a future merger with blank-check firm Blue Safari Group Acquisition Corp to become a publicly traded company on the United States stock market.
PoW Mining and Cryptocurrencies Come Under Fire In Sweden
Proof of Work (PoW) mining has come under fire by Swedish financial and environmental regulators. A recent proposal was signed by both the Financial Supervisory Authority and the Environmental Protection Agency that points out many of the common but often misplaced fears about Bitcoin and cryptocurrencies.