The work that goes into creating bitcoins and other digital currencies is as fundamental as it is labor-intensive. Coverage will enhance your understanding of this vital part of the process from every angle.
Bitcoin mining today is dominated by mining pools. These mining pools arguably have a strong hold on the Bitcoin network, but also on their own participants. Since mining pools typically operate with little transparency, participants must issue a lot of trust in pool operators not to cheat them out of Bitcoin. Czech Republic-based Slush Pool […]
BW, a dominant Chinese bitcoin mining company with approximately 8 percent of global mining power, is positioning itself to step out of the shadows of relative obscurity and into the spotlight — a spotlight powered by efficient, clean and incredibly inexpensive hydroelectricity. Not only is it preparing to take a more active role on the […]
This week, KnC Miner began offering each of its employees Xapo Debit Cards for salary payouts. So far, around 30 pecent of its employees are participating. KnC Miner is a bitcoin mining company, and therefore, most of its employees already have their own selection of bitcoin wallets, cold storage solutions and investments. The company decided […]
In a statement released today by BitFury Group, the company announced that it had raised an additional $20 million from investors including DRW Venture Capital, iTech Capital, and Georgian Co-Investment Fund. The company expects to use the money to accelerate growth and continue develop next-generation chips beyond the recently launched energy-efficient 28 nanometer chip. There […]
A new digital currency mining chip is being released next week that the manufacturer believes will severely decrease the amount of electricity needed to mine bitcoin, an important factor for miners. According to Marshall Long, the CTO of FinalHash, a mining consulting firm, “these new chips will allow hobbyists to get back in the game. […]
The 16nm FinFET Solar chip will hit markets in early 2015. We were the first in the world to deliver 28nm and 20nm Bitcoin chip technology and we’re still the only producer capable of delivering 20nm tech in the Bitcoin space. We’ve been aiming for the next step for some time and as the most […]
For the past seven months, application-specific integrated circuits (ASICs) have been the central focus of Bitcoin mining development. Ever since Butterfly Labs became the first company to publicly announce its upcoming ASIC technology in June 2012, four startup companies have been in a race to be the first to release the technology. Now, it looks […]
Update: rumors of bASIC’s demise have been, at least for now, grossly exaggerated. Updates on the Bitcoin ASIC mining scene are coming faster and faster as the shipping dates for all three leading contenders approach. Only a few days ago, all major competitors were poised to release their products around January 19, and it looked […]
After over three months of delays from all major competitors, it seems as though the race to develop the first ASIC-based Bitcoin mining computer is finally drawing to a close. Less than three weeks ago, Avalon ASIC announced a hard shipping deadline for themselves of January 19, and placed a countdown on their website. On […]
Aiming for longevity and efficiency of their products, Butterfly Labs (BFL) has confirmed their new SC chips will be using a 65nm process, the same transistor size as was used for Intel’s wildly successful Core 2 Duo and Core 2 Quad processors.As BFL’s main competitors, Avalon and bASIC, are reportedly built on 110nm and 90nm […]
About three months ago, Butterfly Labs was the first to announce a specialized Bitcoin mining device based on a technology with the potential to massively increase the computing power of the Bitcoin network per unit power and cost: the ASIC. ASIC, or application specific integrated circuit, is a technology taking specialization to a whole new […]
Bitpay processes record volume of bitcoin payments due to sales of Butterfly Lab’s new ASIC miner.
Recently, a new Bitcoin startup called Coinlab attracted considerable attention from the community, raising $500,000 startup capital from Silicon Valley angel investors. Operating under the tagline “All your gamers are gold”, what the startup intends to do is to help game companies monetize “that 80% in the middle” – those users who have a significant […]
In this part we will talk about “pooled mining” and compare the different approaches. With increasing block generation difficulty, mining essentially becomes a lottery, as it may take years before an individual node manages to create. To provide a more smooth incentive to lower-performance miners, several pooled miners have been created. With a mining pool, […]
One of the main arguments in favor of fiat currencies as opposed to currencies based on a scarce resource, whether gold, silver or Bitcoins, is that time must be wasted mining something that has no intrinsic value. Would it not be much more efficient, fiat currency proponents argue, to agree to use something easier to […]