Researcher Challenges Bitcoin Mining Energy Consumption Alarmists, Says Debate ‘Oversimplified’

Researcher Challenges Bitcoin Mining Energy Consumption Alarmists, Says Debate ‘Oversimplified’

Bitcoin, News, Tech
A clean energy expert has hit back against the common perception that high energy consumption is an “Achilles Heel” for Bitcoin. A clean energy expert has hit back against the common perception that high energy consumption is an “Achilles Heel” for Bitcoin (BTC), in an article published by The Conversation August 20. Katrina Kelly, Strategy Manager at the University of Pittsburgh’s Center for Energy, says that we need to shift the debate around Bitcoin mining away from energy-intensivity and towards where that energy is produced and how it is generated: “By talking specifically about ... the consumption of energy alone..many fail to understand one of the most basic benefits of renewable energy systems. Electricity production can increase while still maintaining a minimal impact on the environment....Not all types of energy…
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Nvidia’s New GeForce RTX Graphics Not So Attractive for Mining

Nvidia’s New GeForce RTX Graphics Not So Attractive for Mining

News, Tech
Nvidia has announced its new generation of GPUs with the new GeForce RTX platform and while they do seem interesting in terms of new graphics capabilities, they do not seem that attractive for miners at this point. The whole focus of the new NVIDIA Turing architecture utilize in the GeForce RTX platform is on real-time ray tracing, artificial intelligence, and programmable shading to make games even more realistic in terms of graphics. As far as performance for mining goes the new architecture will apparently not offer any significant performance improvements or power efficiency to be a really attractive option for miners. That is at least initially, unless the new Tensor Cores for the AI computing horsepower turn out to be usable for crypto as well and utilizing them could help…
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Open and Closed Source PHI2 AMD GPU Miners Available

Open and Closed Source PHI2 AMD GPU Miners Available

News, Tech
If you are interested in mining LUXcoin (LUX) on AMD GPUs you migh not be verry happy that there are actually not that much miners available for the new PHI2 algorithm it currently uses, not to mention that Nvidia is dominating it performance wise. Still there is work being done to make AMD GPUs provide ood performance for PHI2 as well and there are currently two options available for you to try, one is closed source available only for Windows, but faster – the zjazz AMD miner, while the other one is an open source fork of sgminer with PHI2 support currently catching up in terms of performance – the sgminer-phi2-fancyIX with binary releases for Linux and Windows and source code. The zjazz PHI2 AMD miner is really a new…
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Alarm Over Bitcoin Mining is a Red Herring: Energy Researcher

Alarm Over Bitcoin Mining is a Red Herring: Energy Researcher

Bitcoin, News, Tech
The amount of electricity consumed by bitcoin mining is not the global environmental crisis it is often portrayed to be. This is the professional assessment of Dr. Katrina Kelly-Pitou,  a research associate in electrical and computer engineering at the University of Pittsburgh. ‘New Technologies Are Energy Intensive’ Writing in an article penned for non-profit academic media The post Alarm Over Bitcoin Mining is a Red Herring: Energy Researcher appeared first on CCN
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Nvidia Pulls Out of Crypto Mining Citing Low Revenue, While Bitmain Tops Their Profits

Nvidia Pulls Out of Crypto Mining Citing Low Revenue, While Bitmain Tops Their Profits

Ethereum, News, Tech
The persistent bearish mood of the crypto market where Bitcoin has slipped below the psychological price point of $8,000 has taken a toll on the stock price of Nvidia. The graphics chip manufacturing giant is considering taking cryptocurrency mining production off its budget. Nvidia Stock Price Drops Nvidia witnessed massive growth in 2017, which was propelled by the demand for its high-end Graphics Processing Units (GPUs), that are used for cryptocurrency mining. However, the company’s stock price, which was at a 52-week high on June 14, has now fallen to $244, owing to the existing market sentiment and declining mining profits. The company was expecting sales of about $100 million for its cryptocurrency mining products in the second quarter of 2018, however, the actual figures turned out to be around…
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New Even Faster Raven x16r/x16s Spmod-git #8 fork of ccminer Available

New Even Faster Raven x16r/x16s Spmod-git #8 fork of ccminer Available

News, Tech
One more update from sp on his open source and free fork of supminer (ccminer) called Raven x16r/x16s Spmod-git #8 (source) with a bit more extra performance optimizations that should bring faster x16R/X16S with 5 to 7% over the previous release. It is always good to have competition, especially with open source code, though the z-enemy miner 1.16 released a few days ago seems to be a bit faster. As a recommendation to get the maximum performance with this miner you should try to overclock the memory 500 MHz or more (depending on your GPU) and mine with a fixed difficulty at the pool (normally set the difficulty parameter to around half of the hashrate of the mining rig), so for example for a 100 MHS rig you should set…
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Ethereum: ASIC vs. GPU Mining debate rekindled before Constantinople Hard Fork again

Ethereum: ASIC vs. GPU Mining debate rekindled before Constantinople Hard Fork again

Ethereum, News, Tech
The upcoming Constantinople Hard Fork and the Ethereum Devcon4 are getting closer and closer. Coming closer with the ASIC but also seems again. GPU Mining debate flare up, as many miners believe is the ideal time to shut out ASIC Miner from the Ethereum network. Already at the end of March, the discussion arose when Ethereum core developer Piper Merriam had published a discussion proposal (EIP) on Github, which proposed modifying the ethash mining algorithm to banish ASICs from the Ethereum network. The proposal was then the result of a rumor that Bitmain will publish an Ethash ASIC miner. In Ethereum Improvement Proposal 958 (EIP 958), Merriam stated that, in his opinion, it is a recognized fact in the crypto community that ASICs lead to centralization of the network. This…
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Uber’s Largest Shareholder SoftBank Denies Deal With Bitmain, Other Investments Uncertain

Uber’s Largest Shareholder SoftBank Denies Deal With Bitmain, Other Investments Uncertain

News
Japanese tech giant SoftBank denies alleged investment in crypto mining firm Bitmain, with Tencent yet to confirm and Bitmain refusing to comment. An official from SoftBank has denied their involvement in the investment deal with Bitcoin (BTC) mining behemoth Bitmain that was reported last week by both crypto and mainstream media sources. As previously reported, Bitmain had allegedly sealed a pre-Initial Public Offering (IPO) financing deal which had brought its valuation to $15 billion. Both Chinese tech conglomerate Tencent and Japan’s SoftBank — another tech giant whose 15 percent stake in Uber makes it the drive-hailing app’s largest shareholder — were purportedly involved. After receiving an anonymous tip that Tencent and SoftBank were not actually involved in any deal with Bitmain, Cointelegraph reached out to SoftBank and Tencent for confirmation.…
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Despite Decline in Bitcoin Prices Mining Hash Rate Keeps Rising

Despite Decline in Bitcoin Prices Mining Hash Rate Keeps Rising

Bitcoin, News, Tech
Despite the significant decline in Bitcoin prices since the beginning of 2018, the network’s hash rate continues to increase showing a complex nature of economics of cryptocurrency mining. A growing hash rate means Bitcoin mining is still profitable enough for many players to stay put, defying speculation that prices have fallen past break-even points. According […]
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Kryptovault receives Bomb Threat

Kryptovault receives Bomb Threat

News
According to the Vakdalposten newspaper, the mining company, which is called Kryptovault and operates in the cities of Follum, Honefuss, and Dale, received the bomb threats on Saturday after a report on the company appeared in a local newspaper. Kryptovault’s managing director, Gjermund Hagesaeter, also spoke to the Ringerikes Blad newspaper, and he explained that the police had been immediately informed after the bomb threat was received. He also said that he had warned his employees to be extra vigilant about going on with their duties. “The threat has been reported to the police and these are also taking the whole issue very seriously indeed. We have also asked the police to assess whether any further action needs to be taken. The facility at Follum is located in a fenced…
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