#mining

JPMorgan reports that Bitcoin miners are diversifying their operations in anticipation of the upcoming halving event, which will slash their rewards. Miners are now venturing into the booming artificial intelligence (AI) market, offering high-performance computing services. This shift is partly funded by selling newly minted or existing bitcoins. Companies like Applied Digital and Iris Energy are already making strides in AI cloud services. Additionally, post Ethereum's shift from proof-of-work, former Ethereum miners are leveraging GPUs for AI, finding it potentially more profitable than traditional mining.

Crypto miners in the U.S. have initiated the Digital Energy Council to lobby for miner-friendly policies amidst ongoing crypto regulation debates. The council aims to advocate for sustainable energy development, grid resilience, U.S. competitiveness, and national security. This move comes as President Joe Biden's administration proposes a 30% excise tax on mining operations, citing societal harms. Additionally, Democratic lawmakers criticize miners for environmental concerns.

The Professor, having made an ill-advised Bitcoin investment, is saddled with a huge debt. To resolve this financial mess, he's drawn to the explosive trend of Bitcoin mining. The storyline takes the crew to Doge City in search of the valuable mineral thallium, a crucial element for today's mining chips. Even the legendary animated series couldn't resist the allure of Bitcoin!

The company's developers are gearing up to release JavaScript libraries tailored to facilitate the transmission of commands and signals to mining hardware. Tether CTO Paolo Ardoino confirmed his direct involvement in the coding process, asserting that this new development will bolster both performance and security.

Contrary to forecasts, the value of Salvadoran bonds rose by 62% after Fitch downgraded the country's credit rating in September 2022. Perhaps the 79% surge in BTC during the same period played a role in this unexpected turn of events. In 2021, El Salvador declared Bitcoin as legal tender and currently holds 2546 BTC. Despite skepticism from the IMF, the country also allocated $1 billion for the construction of a mining farm with a capacity of 241 MW.

"We will compensate users for up to 50% of the stolen assets. Additionally, 'tokenized claims' will be issued, with an intent for Mixin to buy them back from future profits." Moreover, the BTC.TOP mining pool's CEO is adamant that the bitcoins held within Mixin's protocol shouldn't have gone missing. He emphasized that Mixin's standard practice was to keep their bitcoins in cold storage, making them impervious to the cloud server breach that compromised their hot wallets.

Coingecko has just unveiled a report that details the countries where mining 1 BTC could be either a lucrative venture or a costly mistake. For example, mining a Bitcoin in Lebanon would cost only $266 in electricity, while the same task in Italy would run a shocking $206,000, or 783 times more. Out of the top 10 nations with the highest electricity costs, 9 are European.

Quantum Blockchain Technologies (QBT), a research company, has unveiled an innovative bitcoin mining method that utilizes artificial intelligence. According to the company's statement, this new approach to hash verification, as opposed to random selection, boosts the chances of finding a winning hash by approximately 260%.

Bitdeer Technologies Group, based in Singapore, has successfully set up an avant-garde bitcoin mining facility in Gedu, Bhutan – a nation recently recognized for its crypto investments. As the facility approaches the end of its trial run, many of its mining units are already in operation. Reflecting on the progress, Bitdeer's CEO, Linghui Kong remarked: "We made significant strides on both the operational and infrastructure fronts during July."