Cryptocurrency & Mining News - Page 29

In a move that would have people thinking "why did it take so long?" a crypto mining company has purchased itself an early Christmas present: an entire powerplant to power its Bitcoin mining operations, and expand it in a gigantic way.

Stronghold Digital Mining has just purchased the Scrubgrass power plant located in Venango County, Pennsylvania. The powerplant is able to power around 1800 Bitcoin mining machines right now, but the company has plans to expand that to support over 20,000 miners sometime in 2022.

The plant will be burning waste coal to power on-site mining hardware, which will be housed in shipping containers that are placed next to the Scrubgrass power plant. The not-so-environmentally-friendly coal power plant isn't a good choice for Stronghold, which advertises itself as an "environmentally beneficial and vertically integrated Bitcoin miner".

China has been continuously cracking down on cryptocurrency but this new step is the biggest yet -- with China's central bank clamping down on crypto harder than ever before.

The People's Bank of China has said that services that offer trading, order matching, token issuance, and derivatives for virtual currencies are now strictly prohibited. Oh, you thought you could live in China and trade crypto overseas? Nope, that's also illegal.

China now considers cryptocurrency transactions as criminal financial activity, with China's central bank to "resolutely curb the hype of virtual currency transactions, severely crack down on illegal financial activities and illegal criminal activities related to virtual currencies, protect the safety of the people's property in accordance with the law, and make every effort to maintain economic and financial order and social stability".

Twitter has just announced it is letting users tip their favorite creators with cryptocurrency Bitcoin, after testing the feature out back in May as a way that creators could earn payments for their tweets.

The new Tips feature has rolled out across the planet for iOS users and will reach Android users in the next few weeks. Bitcoin is now accepted on Twitter under their new Tips feature, which would previously accept payment through services like Square's Cash app or PayPal's Venmo.

Accepting BTC on Twitter isn't the only thing the social network announced, but there's also NFT authentication and plans about using other experiments to give more context about a conversation for users that have just dived in. There's a new creators fund coming in the next few weeks, which will help audio creators with access to financial, technical, and marketing help.

Bitcoin has been hovering at around $50,000 for a while now but BTC flash-crashed down to just $5402 on Pyth Network oracle's BTC/USD feed... the problem caused liquidations to happen on an insane, flash-crashed price.

BTC was staying at the $50,000 or so during the first week of September 2021, before dropping down to $45,000 or so last week, and now down to $40,000 or so this week before climbing back up to $43,000 at the time of writing.

The price of Bitcoin flash-crashed to $5402 between the hours of 12:21 and 12:23 UTC on Monday, while BTC was trading for $43,500 on most centralized exchanges. The Pyth Network is a Solana-based oracle network that acts as a bridge between blockchains and real-world data, adding that the flash-crash down to $5402 was caused because two of its data sources published a near-zero price, and received a relatively higher weight from the network's aggregation logic.

Elon Musk is no stranger to making waves in the cryptocurrency market, and now the SpaceX and Tesla CEO is at again.

On September 13, Elon Musk shared to his personal Twitter account an image of his new pet, a very small Shiba Inu puppy. Musk stated in the post that "Floki has arrived", causing some cryptocurrency coins to have major spikes in value. The Floki Inu coin saw massive gains and other alternative coins with similar naming schemes such as Floki Shiba and Super Floki.

Both Floki Shiba and Super Floki saw a 150% rise in value. Musk has previously voiced his support for the most famous Shiba Inu cryptocurrency, Shiba Inu Doge. Musk has even gone as far to say to that Dogecoin could one day become Earth's main currency. "But fate loves irony... The most entertaining outcome is often the most likely and arguably the most entertaining outcome, and [the] most ironic outcome would be that Dogecoin becomes the currency of Earth in the future", said Musk earlier this year.

BIOSTAR has just revealed its new crypto mining motherboard, the new TZ590-BTC DUO motherboard that has room for 9 x GPUs and up to 14 x storage devices.

The new BIOSTAR TZ590-BTC DUO motherboard has 8 x PCIe 3.0 slots, and a single PCIe 4.0 x16 slot -- joined by storage madness in the form of 10 x SATA III ports, and 4 x M.2 Key M slots for Chia Coin crypto mining on the storage side of things.

There's support for Intel's 10th and 11th Gen CPUs on the LGA1200 socket, with support for up to 128GB of DDR4 RAM. It's actually a pretty beast crypto mining motherboard, given how many connectors and ports and even RAM support that the BIOSTAR TZ590-BTC DUO motherboard has.

I'm not waking up into this Clown World everyday thinking it is getting better, but news of the $69 million NFT (non-fungible token) being shown "in real life" and having NFT tickets to said party for $475, has me wanting to go back to sleep... how long until that is an NFT?

Anyway, there will be an "inaugural display" of the NFT that Beeple sold earlier this year for a whopping $69 million: The First 5000 Days. The image itself can be viewed right now, I've got it in the tweet above and a higher-res version below... but you really, really want to pay $475 for an NFT ticket to the IRL party of this $69 million NFT. I'm sure it's 420-friendly and 69-friendly, for the IRL event to the NFT that requires an NFT ticket for the LOLs and the ROFLs.

This event will mark the first "authorized" public projection of The First 5000 Days NFT itself, with crypto fund Metapurse -- the owners of the NFT -- will have its one-and-only authentic copy, with its nominally exclusive display rights, up for a night -- IRL.

A new RDNA 2-powered crypto mining card has been spotted, with a new GPU pictured in China and mining Ethereum with 39MH/s of hash power.

We now have some photos of an XFX-branded Navi 22 GPU and 10GB of GDDR6 memory, which could be a Radeon RX 6700 or even a repurposed Radeon RX 6700M mobile GPU. VideoCardz was tipped by a reader, with the Navi 22-based mining card hitting 39.06MH/s and the GPU reaching 92C.

When it comes down to the specifications of the new GPU, GPU-Z displays that this card has the same specifications as AMD's mobile-focused Radeon RX 6700M. The Radeon RX 6700M is based on the Navi 22 GPU and packs 2304 Stream Processors, and 10GB of GDDR6 on a 160-bit memory interface, and up to 344GB/sec memory bandwidth.

We've seen it before, and now we're seeing it again: NVIDIA's unreleased GeForce RTX 3080 Ti graphics card with a much bigger 20GB of GDDR6X memory on-board.

The new GIGABYTE GeForce RTX 3080 Ti AORUS 20GB graphics card is exactly what you think it is: a custom RTX 3080 Ti with 20GB of GDDR6X memory and has been spotted in Russia (again). The RTX 3080 Ti 20GB in question only works with crypto mining and not gaming... without any Game Ready drivers, this is a gaming-gimped graphics card.

It's not an LHR (Lite Hash Rate) card which means it's not crypto mining gimped, while we now know there are multiple GIGABYTE models (3 at least) with 20GB of GDDR6X memory. There's the GAMING OC, which is the card we have teased here, the AORUS Xtreme, and AORUS Master -- all in the custom GeForce RTX 3080 Ti goodness with 20GB of GDDR6X memory.

The price of Chia Coin has pushed Chia crypto miners to offload their hardware, with bundles of SSDs and HDDs hitting the market -- at a loss. Unlike GPU miners that could've purchased graphics cards last year, and sold them at a profit this year.

The price of XCH has dropped from around $290 just a few days ago, down into the $210 area -- after spending most of August 2021 above $250. XCH was at manic peaks back in March 2021 when Chia Coin was at its maximum hype period, breaching $1600... before dropping close to 8x down to $216 at the time of writing.

One of the admins on the Chia Coin Facebook group, which has over 5000 Chia traders, has noticed a big uptick in Chia miners selling their old mining-abused SSDs and HDDs. Chia Coin Facebook group admin Hoang Trung explains: "The fluctuation of Chia prices has urged investors to sell their hardware at a loss, with sellers outnumbering buyers".