Mining – Page 7 – The Urban Mine

Miner data shows Bitcoin could have bottomed

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Posted on August 7, 2022

Catching the coveted Bitcoin bottom requires analyzing more than just its price. One of the most reliable indicators of market bottoms has historically been miner data. Often considered to be one of the most resilient players in the crypto ecosystem, miners capitulate only when Bitcoin becomes too expensive to mine. Hash ribbons are a unique

Researchers say they discovered consensus level attack on Ethereum — miners cheating the system to earn more

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Posted on August 6, 2022

A research paper published by The Hebrew University in Israel reports having discovered the “first evidence of a consensus-level attack on a major cryptocurrency.” The paper is currently awaiting peer review but utilizes publicly available on-chain data and Ethereum’s open source codebase to affirm its conclusions. At its core, the paper highlights an issue where

Vitalik Buterin calls out ETHW hard fork proponents as “trying to make a quick buck”

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Posted on August 5, 2022

Speaking in a closed press conference during South Korea Blockchain Week, Ethereum founder, Vitalik Buterin, called people pushing for a hard fork of Ethereum to retain proof-of-stake “simply trying to make a quick buck.” Justin Sun recently announced support for a hard fork of Ethereum post-merge by listing two new tokens on his Poloniex exchange.

Riot Blockchain Bitcoin production drops 28% YOY in July; offsets energy costs by curtailing some operations

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Posted on August 3, 2022

Riot Blockchain, one of the world’s largest Bitcoin mining companies, said Aug. 3 that it mined 318 Bitcoin (BTC) in July, a decrease of around 28.21% compared to the same month in 2021 when it mined 443 BTC. The mining firm attributed the decrease in mining to the curtailment of some operations due to the increasing

Bitcoin mining — What are the true climate change risks?

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Posted on July 29, 2022

The European Central Bank (ECB) published a report on July 14 that covered many points related to Bitcoin and Ethereum mining, including energy consumption and Proof-of-Stake (PoS) as an alternative mechanism. The report, titled “Mining the environment – is climate risk priced into crypto-assets?,” determined that Proof-of-Work (PoW) mining cannot co-exist with “the green transition”

Rio de Janeiro forges ahead with Bitcoin integration plans

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Posted on July 27, 2022

Rio de Janeiro’s secretary of finance and planning, Andrea Senko, recently revealed in an interview that her team is looking to spur the adoption of Bitcoin (BTC) by adding the digital asset to the city’s treasury portfolio. What do officials have in mind exactly? Senko believes that by integrating Bitcoin into Rio de Janeiro’s financial,

Global Bitcoin mining ‘one of the most sustainable industries globally,’ BTC Mining Council claims

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Posted on July 21, 2022

The use of sustainable energy in Bitcoin (BTC) mining reached 59.5% globally in Q2 2022, a 6% year-on-year increase from Q2 of last year, the Bitcoin Mining Council (BMC) estimates. This makes Bitcoin mining “one of the most sustainable industries globally,” according to a July 19 press release by BMC. BMC is a voluntary global

Bitcoin mining difficulty expected to see largest drop since China ban

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Posted on July 20, 2022

Bitcoin (BTC)mining difficulty is expected to adjust downwards by about 4.5% during the next adjustment window, on July 21 at around 7 p.m. BST, according to an analysis conducted by CryptoSlate using Glassnode data. This event will mark the most significant decrease in mining difficulty since China’s crackdown on Proof-of-Work (PoW) mining in May 2021.

Miners sold 14K Bitcoin worth $300M on July 15, largest dump since January

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Posted on July 19, 2022

Numbers from blockchain analytics firm CryptoQuant showed that miners sold 14,000 Bitcoin (BTC) worth roughly $300 million on July 15, the largest amount sold since January. A sell-off trend among miners started in early June, and the amount sold has been growing. Energy problem Miners are mostly forced to sell because the bearish Bitcoin prices

Samsung’s new mining chips will be 45% more efficient

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Posted on July 18, 2022

Tech giant Samsung said it is currently working on new 3-nanometer(nm) mining chips that will be 45% more energy efficient. The new chips are estimated to have 23% higher performance and are expected to significantly reduce carbon emissions in the mining industry. The company started working on the chips in late 2021, with help from

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