In recent years, Texas has witnessed a surge in interest from cryptocurrency mining companies, drawn by the state's favorable regulatory environment and abundant energy resources. With its competitive electricity prices and ample supply of renewable energy, Texas has become an attractive destination for companies seeking to establish Bitcoin mining operations.https://www.cryptopolitan.com/texas-attractive-destination-for-miners/
Beijing is prepared to apply a new policy to strengthen the actions to foster energy conservation in several aspects of the city's operations, promoting carbon and pollution reduction. The plan proposes to increase the oversight level on Bitcoin mining activities, thwarting its remnants.https://news.bitcoin.com/beijing-targets-cryptocurrency-mining-operations-in-new-energy-conservation-plan/
The Energy Information Administration will track U.S. crypto miners' energy consumption following an “emergency collection of data request.”https://decrypt.co/215198/us-ramps-up-monitoring-of-crypto-miners-energy-use
The cryptocurrency mining rig manufacturer Canaan has raised over $50 million in funding by issuing preferred shares to an undisclosed institutional investor. This move aims to bolster the company's research and development efforts and expand its production capabilities.https://www.cryptopolitan.com/crypto-giant-canaans-shocking-80m-loss/
As per the filing with the US Securities and Exchange Commission (SEC), Bitdeer is seeking four more three-month extensions for its SPAC merger.https://www.coinspeaker.com/crypto-bitdeer-extend-ipo/
US Bitcoin could be forced to pay a $540,000 fine if it doesn't shut down its operations before the end of January. https://cryptopotato.com/new-york-bitcoin-mining-facility-slapped-with-10000-per-day-fine/
Grab it or lose it.
So much for "the real Bitcoin" bullshit.
Satoshi would shit himself.
One of the simpletons behind this made the claim that it'd make bitcoin less valuable to mine because so many people would switch to it so the block reward would be shared among more people. They actually said this and touted it as a positive for their scam coin.
Iran’s Ministry of Industries, Mining and Trade has issued over 1,000 cryptocurrency mining licenses to domestic operations.
According to a report published on Jan. 24 by Iran’s Banking and Economic System Reference Media (IBENA), a member of the Information and Communications Technology (ICT) Guild Organization’s blockchain commission, Amir Hossein Saeedi Nai, informed the public of the number of licenses issued.
He explained that before launching a mining operation in the country, entrepreneurs must apply for a license, adding that the government has issued over 1,000 permits so far, and several mining farms have already launched operations. Nai estimated that, if the local mining industry were to function at full capacity, it would bring $8.5 billion into the local economy.
Mining’s role in Iran’s economy
Banking sanctions from the United States and other western countries have hit Iran’s economy hard. Nai said that the country is in need of foreign exchange volumes, and that digital currency can help facilitate trade while importing foreign currency as well as be used to skirt economic sanctions.
The official explained that the ICT Guild Organization is currently working to improve Iran’s cryptocurrency mining conditions. The hope is that local mining activity will see a renaissance through changing electricity rates and boosting cooperation between local cryptocurrency miners and gas-burning power plants.
Iran has some of the lowest energy prices in the world at $0.007 per kilowatt-hour. However, recent energy shortages and blackouts have led regulators to take a more active role in managing the country’s power supplies and therefore, take a strict approach to cryptocurrency mining.
Cybercriminals are reportedly exploiting the death of former basketball star Kobe Bryant, by preying on the sentiments of unsuspecting victims looking to download images of the late sports legend. Microsoft’s security team recently found a malicious crypto-mining script embedded in the wallpaper of late Kobe Bryant.
Late Kobe Bryant’s Image Used to Hide Cryptojacking Malware
According to a tweet by Microsoft Security Intelligence on Friday, January 31, 2020, through Microsoft’s Defender Advanced Threat Protection (ATP), the security team was able to detect a malicious HTML file masquerading as a wallpaper featuring Kobe Bryant. Part of the tweet reads:
“We found a malicious HTML file posing as a Kobe Bryant wallpaper that contains a coin mining script”.
The tragic death of former Los Angeles Lakers basketball star, Kobe Bryant, on January 26, 2020, along with his daughter Gianna, and seven others, have seen a large outpouring of grief from fans and people worldwide.
However, bad actors have moved in to capitalize on the late star’s popularity by embedding a crypto mining script in a Bryant wallpaper. Aggrieved fans and admirers who wish to download an image of Kobe unknowingly become victims of cryptojacking.
This method used by hackers is known as steganography, in which a message, file, or image is concealed in another image, file, or video. Such images, files, or videos appear ordinary and harmless, but they contain malicious files that are installed on the victim’s computer.
In the case of Kobe Bryant’s wallpaper, anyone who downloads the image gives the hackers access to use the victim’s computer to mine cryptocurrency. The Microsoft security team, however, stated that they had blocked the website hosting the coin miner.
Cryptojacking on the Rise
Late Kobe Bryant is not the only celebrity whose image hackers have used to hide crypto-mining scripts. Per a report by BTCManager in December 2019, cybercriminals hid a mining botnet known as MyKingz botnet in the JPEG images of popular American singer, Taylor Swift.
Cases of cryptojacking have been on the rise, which hackers getting sophisticated and stealthy with their methods. Hackers use victims’ computers to mine crypto without the knowledge or consent of the victims.
In August 2019, cybercriminals infected RubyGems with cryptojacking malware, affecting five out of the eleven libraries. Also, a team of researchers from Varonis discovered a new cryptojacking malware that was used to hijack a victim’s system.
Before buying any graphics card, everyone should pay attention to the main criteria:
The memory. The core principle here is the bigger, the better. This is an important criterion for mining Ether (ETH). For most cryptocurrencies, it is better to use video cards that have at least 4 GB of memory.
Speed. The best option would be to use DDR5 standard cards. They have a good balance between energy consumption and power.
Cooling. An important element in the mining process is the protection of the graphics card from overheating. After all, mining puts a heavy load on the card, and, therefore, it is subject to wear and tear.
Overclocking ability. Cards that can be overclocked work 20%–30% faster, which, of course, contributes to better efficiency.
Bus width. The memory bus width of a card is a channel that connects the memory and graphics processor of a card. How much data the card will process per unit of time depends on the width of the memory bus. This is one of the key parameters that affects the card’s performance. The best option would be to use a 256-bit setup.
Complexity of operation. Many graphics cards require detailed BIOS settings. Others need to be pooled together in large quantities. Most in the crypto community believed that it is best to combine four to six cards in a rig to make up a single unit.
Potential. The main ability of a particular graphics card’s model is to remain relevant in the mining process of the most promising algorithms for as long as possible.
Price/payback ratio. It is in everybody’s interest to recuperate the costs of the equipment as soon as possible and then start making money from mining. Therefore, this is perhaps the most important criteria to be mindful of.
New video cards are released constantly, so it is essential to be aware of new releases. However, not all new video cards are capable of high-quality mining. Below are, arguably, the best graphics cards for crypto mining in 2020 from two major chip developers - Nvidia and AMD.
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