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MARKETS DAILY: Casualties Ahead in the Cryptocurrency Mining Arms Race
Tune in as CoinDesk podcasts editor Adam B. Levine and senior markets reporter Brad Keoun run down recent action in the markets, interesting longer-term trends and some of the most important crypto industry developments of the day.
Canada-Based Crypto Mining Firm Great North Data Files for Bankruptcy
Canada-based cryptocurrency mining company Great North Data has submitted a bankruptcy filing, purportedly due to insolvency.
Canadian Government-Assisted Bitcoin Miner Files for Bankruptcy Owing Millions
Great North Data, a firm that ran bitcoin mining and AI processing data centers in Canada, has filed for bankruptcy.
Litecoin's Mining Power Tanks to Lowest in Year Following Price Plunge
Litecoin's price plunge in recent months has whittled away the profitability of mining the cryptocurrency, leading to a shakeout among computer operators on the network seen as a faster and cheaper but less secure version of bitcoin.
Kazakhstan Won't Tax Cryptocurrency Mining: Report
Kazakhstan's lawmakers won't be taxing cryptocurrency mining until the mined crypto is exchanged for fiat money.
Monero Implements Hard Fork, Including New ASIC-Resistant Mining Algorithm
The Monero network has been successfully upgraded to RandomX, a new mining algorithm that aims to be ASIC-resistant.
A Plan to Decentralize Bitcoin Mining Again Is Gaining Ground
Braiins, the company behind one of the largest bitcoin mining pools, recently released a code spec that could be promising for decentralized mining.
Hackers Mass-Scanning Web for Docker Platforms to Mine Cryptocurrencies
A group of hackers has launched a new cryptojacking campaign on Nov. 24, scanning as many as 59,000 IP networks to find Docker platforms that have API endpoints exposed online, business technology publication ZDNet reports Nov. 26.According to the report, the campaign is targeting vulnerable Docker instances in order to deploy crypto-malware to generate funds for the hacking group by mining Monero.
Bitcoin Miners Completely Unfazed by Price Drop
Bitcoin is not seeing capitulation among miners despite its price dipping over 15% in the past week, new data suggests.
Russian Oligarch Turns Soviet Plant Into a Major Bitcoin Mining Hub
The largest data center in the former Soviet Union, BitRiver, opened about a year ago in the Siberian city of Bratsk and most of its clients use the facility to mine Bitcoin, Bloomberg reported on Nov. 24.