1 Million Computers Hacked to Mine $2 Million-Worth of Cryptos

Cryptocurrency mining malware that infected over a million computers in China reportedly earned its creators more than $2 million over two years. According to a local news report on Monday, police in China’s Da Lian city have arrested 20 suspects from a computer technology firm who allegedly gained control of the large number of computers […]

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Market Wrap: Bitcoin Can’t Stick to $9,000 While Stocks Rally

The equities markets far outpaced cryptocurrencies Tuesday on optimism that economic restrictions put in place to help slow the spread of the coronavirus are easing. Bitcoin (BTC) poked its head above the $9,000 level briefly during morning trading in New York but fell to below $8,700 on selling. As of 20:35 UTC (4:35 p.m. ET), […]

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Ethereum’s ProgPoW Debate Is About Much More Than Mining

What do we talk about when we talk about progressive proof-of-work (ProgPoW) on Ethereum? On the surface, ProgPoW is a proposed update to the mining algorithm of the world’s second-largest blockchain by market cap that would theoretically favor less well-resourced miners.  At its core, though, ProgPoW has become a flashpoint for how Ethereum makes big […]

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No, Concentration Among Miners Isn’t Going to Break Bitcoin

CoinDesk columnist Hasu is a pseudonymous crypto researcher publishing analysis for Deribit Insights and his personal blog. A recent TokenAnalyst report claims a single entity could be in control of around 50 percent of bitcoin’s hashrate. The observation is based on the fact that five large mining pools have launched a new cloud mining service […]

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Bitmain Rival MicroBT’s Founder Arrested in China for Alleged Embezzlement

Caixin said in the report, citing people familiar with the case, that the person arrested is indeed the founder and CEO of MicroBT, which manufactures the WhatsMiner bitcoin mining equipment with about 40 percent of the market share. The alleged embezzlement amount is 100,000 yuan, or about $15,000, the report said.

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Avalon Bitcoin Miner Maker Canaan Officially Files for $400 Million US IPO

Canaan Creative, the Avalon bitcoin miner maker and one of the world’s largest mining equipment manufacturers, has just formally filed another attempt to go public – this time in the U.S. Canaan’s initial public offering prospectus filed with the U.S. Securities and Exchange Commission (SEC) on Oct. 28 indicates it intends to list on NASDAQ under […]

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