Mining

Kodak unveiled its own bitcoin miner at CES, will let you rent it for $3,400 for two years

If you thought Kodak news couldn’t get any stranger following the company’s debut of a “photo-centric cryptocurrency” called KODAKCoin earlier this week… you were wrong. In a further attempt to cash in on the cryptocurrency mania currently spreading across the world, Kodak has debuted its own bitcoin mining machine at CES.

The bitcoin miner is called the Kodak KashMiner, and you can rent it for just $3,400 and keep a share of the profits you make mining bitcoin for the next 2 years.

We’ll give you a moment to let the absurdity of those last few sentences soak in before we attempt to put this madness in context.


Bitcoin Mining Fees Soar As China Crackdown Progresses

South Korea’s lawmakers and Ministry of Finance have reportedly shot down a crypto-trading ban proposed by the South Korean Ministry of Justice (since more than 2 million South Koreans own bitcoin, such a ban would inevitably lead to many retail traders booking heavy losses).

But China’s attempt to suppress the local crypto economy is continuing unabated as the PBOC leans on local authorities to deny resources to bitcoin miners and exchanges to encourage “an orderly exit” from the business.

Today, Bloomberg reported that ViaBTC Technology Ltd., which runs the fourth-biggest bitcoin mining collective, is jacking up maintenance fees for some of its clients Friday to 50% from 6%, according to a statement posted on its website.

The disruption in mining power has caused already soaring transaction fees to climb to all-time highs as transactions compete for space on the network.


Hive to Place Its $100M USD Bitcoin Mining Operations in Northern Sweden – Bitcoin News

This week the Canadian firm, Hive Blockchain, announced it would be starting a $100Mn USD mining operation in Sweden. Hive’s CEO says the mining center will “ten times bigger” than the company’s Iceland mining centers.
Hive Blockchain Is Starting a Mining Operation in Sweden
Hive Blockchain is a company that was created by Harry Pokrandt and Olivier Roussy Newton in 2013. The firm is dedicated to mining operations and developing the blockchain industry in a partnership between Genesis Mining and Fiore Group. According to regional publications in Sweden, Pokrandt explains the company raised approximately $115Mn for mining operations in Boden this past May. During that time Hive was also listed on the Toronto Stock Exchange, and interest in the company grew exponentially. Genesis mining will also be involved with Hive’s Boden mine and help get the operations started.


Chinese bitcoin miners eye sites in energy-rich Canada

MONTREAL/SHANGHAI (Reuters) – China’s Bitmain Technologies is eyeing bitcoin mining sites in Quebec, a company spokesman told Reuters, as expectations of a potential Chinese crackdown on cryptocurrency mining make the energy-rich Canadian province an attractive alternative.

FILE PHOTO: Bitcoin mining computers are pictured in Bitmain’s mining farm near Keflavik, Iceland, June 4, 2016. REUTERS/Jemima Kelly/File Photo
China has grown into one of the world’s biggest sources of cryptocurrency mining but there are signs Beijing is increasing scrutiny of the sector’s players and may ask local authorities to regulate their power use. Bitmain Technologies, operator of some of the largest mining farms in the country, is among several companies looking to expand overseas.


Bitcoin miners are reportedly fleeing China because it is cracking down on cryptocurrencies

Two of China’s largest bitcoin mining operations are looking to set up shop elsewhere as the country expands its clampdown on cryptocurrencies to mining operations, Bloomberg news reported Friday.
Bitmain, which runs two exchanges, has set up a regional office in Singapore, as well as mining operations in the US and Canada, CEO Wu Jihan told the news channel in an interview. News of the impending crackdown was first reported Wednesday.