Even people who don’t know much or anything about cryptocurrency have heard about mining crypto. It’s a widely known fact that mining can bring profit, but what is it exactly? In short, due to, wouldn’t you guess it, the cryptographic nature of cryptocurrency, users’ computers need to solve complex equations to verify the blocks on the blockchain. As they work on this, they create new coins in the process. To motivate users to do this, they receive mining rewards in the form of transaction fees paid by other users, as well as some of the coins they helped create.
To be a proficient crypto miner, you need to know about the right hardware and software to use, as well as to have developed mining strategies. And you can be sure our Mining News delivers reliable info on all these aspects. Additionally, you should be aware of when an event called Bitcoin Halving will occur, as after every 210,000 bitcoin blocks are mined, the block rewards are cut in half. Therefore, you might also want to check out our Halving calendar.
Bitcoin mining revenue at its lowest since 2020
Although bitcoin price correlates directly with the BTC mining industry, miners’ revenues have reached an all-time low since November 2020. According to data from Blockchain.com, total bitcoin mining revenue fell to $14.35M, last seen on Nov. 6, 2020, when bitcoin was trading at around $13,5K. Although bitcoin is currently trading around $16,5K, which suggests an […]
Paraguayan Senate Vetoes President’s Decision on Crypto Mining Bill
Back in July, the Paraguayan senate approved the national crypto mining regulatory bill. The following month, president Mario Abdo Benitez vetoed the bill, citing high energy expenditure costs. Now, the saga continues, as 33 Paraguayan senators have rejected the president’s veto. Paraguayan senators have stated that they are in favor of the bill for several […]
Binance Adds Mining Pool Support for ETHW
While ETHPoW had gotten off to a rocky start, here’s some good news for the supporters of the Ethereum’s proof-of-work mining hard fork. Namely, Binance has now launched an ETHW mining pool through its Binance Pool service, that allows users to join forces and mine ETHW tokens collaboratively. Additionally, ETHW miners on Binance will not […]
Blue Safari-Bitdeer Merger Delayed, Again
Blue Safari Group SPAC has once again delayed its merge with the Bitcoin mining company, Bitdeer. SPACs, or special purpose acquisition companies, are created with the purpose of raising capital and taking other companies public through a merger or acquisition. Valued at $4 billion, Bitdeer was already supposed to go public following the merger with […]
President of Paraguay Vetoes Crypto Mining Bill
As we reported in July, the senate in Paraguay had then passed a bill introducing the crypto legal framework to the Latin American country. However, president Mario Abdo Benítez has now decided against ratifying the part of the bill that would have recognized crypto mining as an industrial activity. If the senate-approved bill had been […]
Georgia Might Start Limiting Industrial-Scale Mining To Avoid Power Deficit
Georgia has been one of the Bitcoin mining paradises because the country is rich in hydropower, it has quick and efficient business procedures, and is conveniently located on the crossroad between Europe and Asia. Around half of the total mining capacity in Georgia is at an industrial level but the country is also home to […]