Bitcoin 

Crypto Mining Company CoinMine Secures $2.5 Million in Seed Round

Cryptocurrency mining company CoinMine has received a fresh injection of funds from a $2.5 million seed round led by the investment company M13. Coinmine announced the successful fundraiser in an official blog post on Aug. 15. As part of the announcement, Coinmine said it will continue to support more cryptocurrencies and ship out “over-the-air” updates.  The company offers a product called Coinmine One, which is an all-purpose cryptocurrency mining computer that costs $700. The announcement also included a shoutout to previous investors, who include familiar names such as Coinbase Ventures…

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Blockchain 

Fidelity Joins Blockstream’s New Institutional Bitcoin Mining Service

Blockchain technology company Blockstream has announced details of its Bitcoin mining services. In a blog post on Aug. 8, the company revealed two massive data centers for enterprise class co-location services, along with Blockstream Pool, using the BetterHash protocol. Its aim is to maintain the decentralization of the Bitcoin network. Your Bitcoin mining equipment, Blockstream’s data-centers The data centers, located in Quebec and Georgia, account for a combined 300 megawatts of energy capacity. At full capacity, populated with the latest mining rigs, this could account for around 7.5% of the…

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Bitcoin 

Malaysian Electric Utility Raids 33 Illicit Bitcoin Mining Facilities

Authorities raided Bitcoin (BTC) mining operations in Malaysia after finding that they were stealing electricity resulting in a loss of 3.2 million Malaysian ringgit ($760,736) to the utility company. 33 facilities illegally mining Bitcoin Malaysian major electric utility Tenaga Nasional Bhd (TNB) fell victim to an illegal cryptocurrency mining operation, which resulted in a $760,736 loss, local media organization Malay Mail reported on Aug. 7. After revealing the malpractice, the company raided 33 premises located near the state capital of Pahang, Kuantan. Distributing network general manager Siti Sarah Johana Mohd…

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Cryptocurrency 

Bitcoin Mining Manufacturer Canaan Files for IPO in US Worth $200 Million

As per a report, Canaan Creative, the major Bitcoin miner manufacturer, is supposed to have confidentially filed for an IPO in the US. As Bitcoin has grown into one of the biggest cryptocurrencies in the world, a range of industries have cropped up that are seeking to provide services that will help create a more robust ecosystem, and most of them are bearing fruit. For instance, new crypto exchanges are cropping up every other day, and it has become an industry in itself. However, not much has yet been talked…

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Bitcoin 

Chinese Mining Giant Becomes ‘First’ To File US IPO: Unconfirmed Report

Chinese Bitcoin mining giant Canaan Creative has allegedly filed a $200 million initial public offering (IPO) request with United States regulators.  Report: Canaan ‘beats Bitmain’ to IPO filing That was according to a report which appeared on local social media platform WeChat on July 31, which claimed the application was already sitting before the U.S. Securities and Exchange Commission (SEC).  Despite being less known in the West than its competitors such as Bitmain, Canaan is one of the three main Chinese Bitcoin mining players, the third being Yibang International. While…

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Blockchain 

Iranian Gov’t Authorizes Cryptocurrency Mining As Industrial Activity

The Iranian government has authorized cryptocurrency mining as an industrial activity. A report from IIDO-owned Mehr News Agency on July 29 revealed that the decision was taken this weekend, during a Sunday cabinet session chaired by Iran’s President Hassan Rouhani. First step towards legalizing crypto? Now that mining has been officially authorized, entities engaged in the activity will be required to seek a license from Iran’s Ministry of Industry, Mine and Trade, the report notes. Mehr News claims that many experts are interpreting the move as being the first step…

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Ethereum 

Container Software Vulnerabilities On the Rise, Mining Malware is Fading Away

Cryptocurrency ransomware, botnets and backdoors seem to have replaced cryptocurrency mining malware as the tool of choice for cybercriminals, according to a recent report from computer security firm Skybox Security. In its report dubbed “2019 Vulnerability and Threat Trends: Mid-Year Update,” Skybox reviews software vulnerabilities and newly developed exploits, as well as malware and attacks, among other related issues. Cloud services vulnerabilities are on the rise When it comes to digital currencies, the report notes that in 2018, cryptocurrency mining malware was the most popular tool for cybercriminals. However, following…

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Ethereum 

Iran Has Not Issued Any Licenses for Importing Crypto Mining Equipment

Iran’s customs administration has not issued licenses for importing digital currency mining equipment into the country due to the absence of approval from the government. Deputy President of the Islamic Republic of Iran Customs Administration (IRICA) Jamal Arounaghi said that the agency has not issued any licenses for importing cryptocurrency mining devices into the country, multilingual Tehran-based news outlet Mehr News Agency reported on July 21. While cryptocurrency mining equipment is banned in the country, IRICA has determined a tariff rate for its import, defining it as related to the…

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Blockchain 

Sanctions-Hit Iran A ‘Heaven’ for Bitcoin Mining, Says Gov’t Official

Iranian authorities are wrestling with the rising number of citizens turning to Bitcoin mining and use as a means of coping with a sanctions-crippled economy. Iran’s minister for information and communications technology, Mohammad Javad Azari Jahromi, told the Associated Press (AP) that the country has become “a heaven for miners,” according to a July 18 report. He noted: “The business of ‘mining’ is not forbidden in law but the government and the Central Bank have ordered the Customs Bureau to ban the import of [mining machines] until new regulations are…

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Blockchain 

US Sanctions on Iran Crypto Mining — Inevitable or Impossible?

If there’s one thing the United States has had a history of, it’s imposing sanctions on its enemies. Venezuela, Cuba, North Korea, Russia and numerous other nations have been subject to restrictions and penalties over the years, with the U.S. harnessing its economic muscle in order to punish pretty much any country that doesn’t play by the international rulebook. One of the most notable of these countries is Iran — which, since the Iran hostage crisis of 1979, has been on the receiving end of a long series of prohibitions, blocks and…

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