Industry News

bitmain

Mining Boom: Bitmain’s Profit Over $3 Billion According to Researchers

Beijing-based start-up Bitmain now dominates the Bitcoin mining industry. Last year it is estimated the company made as much money as chipmaker Nvidia did, according to estimates from researchers at Wall Street analyst Bernstein. Based on conservative estimates, the analysts calculate that Bitmain made $3 to $4 billion in operating profit last year. Bernstein’s U.S. semiconductor team estimates … Continue reading Mining Boom: Bitmain’s Profit Over $3 Billion According to Researchers

bank of england

UK: Bank of England Researching Digital Currency, No Plans To Launch

Despite rumours to the contrary, the UK government have announced that they will not be following the likes of Venezuela in launching their own digital currency for now. Whilst the Bank of England are indeed studying the implications of centrally-issued electronic currency, a government minister has stated that there are no plans in the immediate … Continue reading UK: Bank of England Researching Digital Currency, No Plans To Launch

cdot

Colorado Department of Transportation, CDOT, Completely Offline After Ransomware Virus

Employees at the Colorado Department of Transportation (CDOT) spent the second day offline today, while security officials — including the FBI — continue to investigate a ransomware virus that hijacked computer files and demanded payment in Bitcoin for their return. According to Amy Ford, a CDOT spokeswoman, only employee computers running Windows and equipped with McAfee … Continue reading Colorado Department of Transportation, CDOT, Completely Offline After Ransomware Virus

montana

Montana: Power Block Coin, LLC to Build $251 Million Data Center to Mine Cryptocurrency

Power Block Coin, LLC’s proposal to invest $251 million to build a cryptocurrency mining farm in Montana Connections, a special tax district west of the city of Butte, has been given the green light. This Wednesday, Butte-Silver Bow Council of Commissioners voted unanimously (9-0) to allow Utah-based Power Block Coin, LLC — a subsidiary of Blue … Continue reading Montana: Power Block Coin, LLC to Build $251 Million Data Center to Mine Cryptocurrency

NewsBTC Venezuela Petro Launch

Petro Gold Spawned After El Petro’s $735 Million Sales

Venezuelan president Maduro announces countries second commodity backed cryptocurrency ‘Petro Gold’ the day after ‘El Petro’s’ initial private sale raised $735 Million. Maduro Doubles Down With Petro Gold Once again President Nicolas Maduro took the podium to announce a government-owned cryptocurrency. This time instead of oil its the Petro Gold which is to be backed by precious metals. … Continue reading Petro Gold Spawned After El Petro’s $735 Million Sales

uk

UK MPs to Study Bitcoin Benefits Despite Carney’s Dismissal

British MPs will participate in a committee to study the risks and benefits of Bitcoin and cryptocurrency despite Bank of England Governor Mark Carney writing it all off as a failure. UK Makes First Moves Toward Regulation A cross-party Treasury select committee of members of parliament announced on Thursday that they would launch an inquiry into digital currency as … Continue reading UK MPs to Study Bitcoin Benefits Despite Carney’s Dismissal

india

Canadian Researchers to Team Up With Indian Tech Industry to Explore Blockchain

Government-backed researchers in Canada are planning to unite with India’s technology industry association NASSCOM to research blockchain. Together, the two hope to create an global epicentre for studying the implications and applications of the innovative tech leading to increased “high-end technology capabilities.” Blockchain: Beyond Cryptocurrency The teaming up of Canada’s Blockchain Research Institute (BRI) and … Continue reading Canadian Researchers to Team Up With Indian Tech Industry to Explore Blockchain

bitfunder

BitFunder Founder Charged by SEC for Stealing $61 Million Worth of Bitcoin

Today, the U.S. Securities and Exchange Commission (SEC) brought charges against Jon E. Montroll and his exchange BitFunder for operating an unregistered securities exchange and defrauding users. On top of that, the agency also charged the operator — Montroll — with making false and misleading statements in connection with an unregistered offering of securities. BitFunder was … Continue reading BitFunder Founder Charged by SEC for Stealing $61 Million Worth of Bitcoin

iran

Iran: Central Bank Doesn’t Recognize Cryptocurrencies but Plans to Create Its Own

Late last year, it was reported that the Iranian government was interested in utilizing Bitcoin and other cryptocurrencies as a way of bypassing economic sanctions levied against the country. But the government has apparently changed its mind: Today, the Central Bank of Iran announced that it has never recognized Bitcoin as an official currency and conducts … Continue reading Iran: Central Bank Doesn’t Recognize Cryptocurrencies but Plans to Create Its Own

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