Cryptocurrency & Mining News - Page 1
It seems that Hong Kong customs are having a good day having seized some 300 of NVIDIA's new CMP (Crypto Mining Processors) mining cards.
According to MyDrivers, Hong Kong customs have seized the crypto mining GPUs in a smuggling attempt -- but that's not what you should be doing when in some regions China has bans on crypto mining farms. There were massive surges of electricity demand from crypto mining farms enjoying cheap electricity prices in many regions of China.
Around 65% of global mining power requirements are supplied by China according to estimates, and because of that the government has been clamping down on crypto mining farms pretty hard. The 300 new NVIDIA crypto mining GPUs were seized, with the entry-level CMP 30HX seized in large quantities.
NVIDIA's new CMP mining cards have a new customer with one of the biggest and oldest Bitcoin mining companies securing $30 million worth of the new CMP mining cards from NVIDIA.
Hut 8 Mining Corp. will have the first batches of NVIDIA's new CMP mining cards arrive in May, with all of the GPUs expected to be installed and cranked up into mining Bitcoin by the summer. Hut 8's mining capacity will be expanded by 1600GH/s which is the same as around 13,333 x NVIDIA GeForce RTX 3090 graphics cards when it comes to mining hash rate power (they do around 90-120MH/s each).
CEO Jaime Leverton explained: "The adoption and the development of applications interacting with various blockchain networks have never been stronger, opening many possibilities across a variety of industries. We are incredibly excited to have these high performance CMPs in our fleet. We believe mining with CMPs will open up new opportunities for Hut 8 and will allow us to continue to execute on our long- and short-term plans for increased and diversified revenue streams".
Tesla's own in-house "Technoking of Tesla" has tweeted about Dogecoin, pushing the cryptocurrencies price skyrocketing towards the moon, with Elon Musk tweeting that he'd put literal dogecoin on the literal moon.
Musk tweeted just 15 minutes ago: "SpaceX is going to put a literal Dogecoin on the literal moon", but it is April Fools Day today, so we don't know if he is joking around or not. But this is Elon Musk... he probably would put a "literal Dogecoin on the literal moon" so I guess we'll have to wait and see what he does.
The price of Dogecoin instantly mooned, moving from $0.054 to past $0.06 at the time of writing, a 16% change in minutes.
Yesterday it was Visa announcing payment settlements using cryptocurrency and the newly-formed USD Coin, and today it is PayPal set to announce it is allowing US customers to use cryptocurrencies they hold to pay at 29 million merchants across the world.
The news is coming directly from Reuters with an exclusive piece titled "PayPal launches crypto checkout service", with the outlet noting that this move could "significantly boost use of digital assets in everyday commerce". If you are based in the US and hold cryptocurrencies like Bitcoin, Ethereum, Bitcoin Cash, or Litecoin in your PayPal digital wallet -- then you'll be able to convert that to fiat currencies at checkout, and then make your purchase like normal.
President and CEO Dan Schulman told Reuters: "This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet".
Visa has just announced that it will begin using cryptocurrency USD Coin to settle transactions on its payment network, with global wallet partner Crypto.com over the ethereum blockchain.
Crypto.com will now settle a percentage of its obligations for the Crypto.com Visa card program in USDC, which is a cryptocurrency that is pegged directly to the US dollar in a 1:1 ratio. Behind the scenes Visa's digital currency settlement partner is Anchorage, the first federally chartered digital asset bank. Funds will be sent from Crypto.com to Visa's own ethereum address at the bank.
As it stands Visa's business partners need to settle transactions with the credit card provider in fiat currencies that it accepts, but now they can be settled with USDC and put up into the ethereum blockchain. Visa is partnered with 35 digital currency platforms that include Coinbase, Crypto.com, BlockFi, and Bitpanda which collectively have over 50 million active users.
I still remember owning a Nintendo Game Boy but I never thought I'd be writing an article explaining how someone has modded their Game Boy and is now crypto mining Bitcoin from it. Yes, you read that right -- this guy has modded his Game Boy and is mining Bitcoin on it for real -- check it out:
You can't just turn the Nintendo Game Boy on and start mining Bitcoin, as there is no internet connection -- so first, you'll need the Raspberry Pi Pico which acts as a link cable to USB adapter. This is plugged into a PC which gives the Nintendo Game Boy an internet connection which is required for cryptocurrency mining, or else you wouldn't be able to mine Bitcoin from your Game Boy, of course!
There are a few more steps required before you can get Bitcoin mining on your Game Boy, but when it does Nintendo's portable game console is capable of pumping out 0.8 hashes per second, which when compared to a current-gen ASIC miner which pumps out around 100 terahashes per second... the GameBoy is 125 trillion -- or 125,000,000,000,000x slower than the current-gen ASIC miner.
This means it would take a single Nintendo Game Boy a few quadrillion years to mine a single Bitcoin... totally not worth it, but it's a nerd-out fest to see Bitcoin being mined on a freaking Nintendo Game Boy.
Tesla boss Elon Musk tweeted out that you can now buy a Tesla vehicle using Bitcoin, but it is only in the US for now with people outside of the US needing to wait until later this year.
Musk simply tweeted out: "You can now buy a Tesla with Bitcoin", which saw the price of BTC flying up from just under $54K to just under $57K and resting at around $56.3K at the time of writing. There was a follow-up tweet that was very interesting, with Musk saying that "Tesla is using only internal & open source software & operates Bitcoin nodes directly".
Even more interestingly, he added: "Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency". This means that Tesla will be HODLing the BTC it acquires through customers buying Tesla vehicles with Bitcoin and NOT converting it over to fiat money. This is a major move, as Tesla would benefit greatly with the price of Bitcoin rising the company will continue to increase its BTC bag size with more and more Tesla vehicles sold (and paid for in Bitcoin).
A hot new rumor is teasing that NVIDIA could use its flagship Ampere A100 GPU for what would be the best crypto mining GPU ever made... with a crazy amount of hash rate mining power.
NVIDIA has made a couple of iterations of its A100 GPU with the A100 made in SXM form factor, and then the company released a PCIe-based version of the card that was passively cooled. Speaking of the NVIDIA A100 PCIe accelerator, that card will set you back $10,000 -- so these new Ampere A100-based crypto mining cards would be hella expensive, but man they would be mining monsters.
The NVIDIA Ampere A100 GPU is an incredible GPU feat, with 19.5 TFLOPs of single-precision compute power, and an insane 40GB of HBM2 memory with 1.6TB/sec of memory bandwidth. That memory bandwidth is the key to mining power, and you wouldn't even need 40GB of it... it can be cut down to a single 8GB HBM2 stack.
I was only just reporting that some new GeForce drivers removed the ETH crypto mining hash rate limiter from the newly-released, impossible-to-find, stupidly-expensive GeForce RTX 3060 graphics card.
Well, that driver seems to have been the winning ticket here with NVIDIA now confirming the news themselves. NVIDIA said in a statement to The Verge: "A developer driver inadvertently included code used for internal development which removes the hash rate limiter on RTX 3060 in some configurations".
NVIDIA added: "The driver has been removed".
- Read more: NVIDIA GeForce RTX 3060 ETH mining gimp removed with new drivers?!
- Read more: NVIDIA explains 50% crypto mining hash rate drop on GeForce RTX 3060
- Read more: NVIDIA's new drivers detect GPU crypto mining, punish hash rate by 50%
The NVIDIA GeForce 470.05 beta driver removes the Ethereum mining limitations, improving performance. I'm about finished on my AMD Radeon RX 6700 XT reference graphics card review and then I'll be playing around with some of the RTX 3060 graphics cards with mining and see how these new drivers go, or not go -- with multiple RTX 3060 graphics cards in a system (of which I've heard there are issues with, even with this new driver).
It seems all that kerfuffle over NVIDIA's new mid-range GeForce RTX 3060 being a crypto mining rig beast is done and dusted, first it was supposedly secured by a handshake between the driver and BIOS that gimped the ETH mining hash rate power of the RTX 3060... and now it's gone?!
According to ComputerBase and HardwareLuxx who have both tested and played around with NVIDIA's new GeForce 470.05 drivers, which reportedly see the Ethereum hash rate limiter disabled. It was previously reported that you couldn't simply remove the hash rate limiter on the GeForce RTX 3060 by driver alone and required new firmware... but it seems it can be done.
The new driver isn't available to the general public just yet as it is available through NVIDIA's internal BETA program, with ComputerBase reporting: "ComputerBase can confirm that only the beta driver GeForce 470.05 distributed by NVIDIA to developers and via the Windows Insider Program ensures that the performance of the GeForce RTX 3060 in the Ethereum algorithm no longer drops. A BIOS update is not necessary".