A single Bitcoin miner from the Solo CK mining pool has defied the odds after successfully adding a new block on the Bitcoin blockchain, taking home 6.25 BTC ($266,000) for their efforts. The lucky miner, who may have been mining on just one or two machines, solved a block with their modest hashrate capacity of 126 TH/s. According to a Jan 11 tweet from Solo admin, Dr. Con Kolivas it’s equivalent to about 0.000072% of the total Bitcoin (BTC) network hashrate — which is 175,000,000 TH/s (175 EH/s). Bitcoin mining expert and member of the Bitcoin Mining Council (BMC) Hass …

Bitcoin Magazine’s YouTube channel was restored around three hours after being shut down, with the publication attributing the short ban to the YouTube algorithm flagging the word “Kazakhstan.” In a Jan. 12 Twitter post, Bitcoin Magazine noted that its YouTube account with 56,600 followers was banned in the middle of a livestream with no prior warning from the platform. "Our @YouTube with 60,000 followers just got BANNED mid-livestream with no warning. DELETED. When will the aggression against #Bitcoin content end?" The livestream was focused on topics relating to Elon Musk, Jack Dorsey, Bitcoin (BTC) mining and the recent internet blackout …

Deputy for the Spanish Ciudadanos political party María Muñoz has proposed a bill to make Spain a Bitcoin mining hotspot following the internet shutdown that caused a mining outage in Kazakhstan. The lawyer and economist Muñoz was steadfast in her support of Spain as a Bitcoin (BTC) destination, in a tweet on Friday: “The protests in Kazakhstan have repercussions all around the world but also for Bitcoin. We propose that Spain positions itself as a safe destination for investments in cryptocurrencies to develop a flexible, efficient and safe sector.” A two-page open letter accompanied the tweet directed at the Spanish …

On Wednesday, Kazakhstan, the second-largest country in the world when it comes to Bitcoin (BTC) mining hash rate, experienced unprecedented political unrest due to a sharp rise in fuel prices. As a result, the country's presiding cabinet resigned, but not before the state-owned Kazakhtelecom shut down the nation's internet, causing network activity to plunge to 2% of daily heights. The move dealt a severe blow to Bitcoin mining activity in the country. As per data compiled by YCharts.com, the Bitcoin network's overall hash rate declined 13.4% in the hours after the shutdown from about 205,000 petahash per second (PH/s) to …

Kazakhstan, which boasts the second-largest (BTC) mining hash rate in the world, is experiencing major internet disruptions amid local anti-government protests. Network data provider NetBlocks reported Wednesday that Kazakhstan was “in the midst of a nation-scale internet blackout after a day of mobile internet disruptions and partial restrictions.” According to the data, the normalized network connectivity in Kazakhstan fell to 2% on Jan. 5. “The incident is likely to severely limit coverage of escalating anti-government protests,” NetBlocks noted. Kazakhtelecom, the largest telecom company in Kazakhstan, has shut down the internet across the nation, according to some reports. Cellular networks have …

Bitcoin (BTC) mining hardware manufacturer Canaan Inc is expanding its footprint in Kazakhstan after signing new strategic partnerships with multiple crypto mining firms in the country. The Nasdaq-listed company announced Tuesday that it had deployed 10,300 AvalonMiner units in Kazakhstan as of Dec. 31, 2021, finalizing phase one of its deployment in the central Asian country. Canaan is partnering with local firms as part of its business expansion plans outside of China. However, the company declined to list any of its local partners. Although Canaan is based in Hangzhou, China, the company is eyeing expansion outside of its home country …

Today marks the 13th year since Bitcoin (BTC) creator Satoshi Nakamoto mined the genesis block or block 0 of the Bitcoin network, and for the first time mined a reward of 50 BTC back on Mon, 2009. Fast-forward to 2022, the BTC network shows no signs of slowing down by reaching a new all-time high hash rate of 207.53 million tera hashes per second (TH/s). The Bitcoin hash rate, which correlates to the strength of the network based on the number of active miners, saw a temporary downfall after China banned citizens and businesses from pursuing crypto mining and trading …

The global hash rate of the Bitcoin network has returned to all-time high (ATH) levels just six months after it saw a major crash during the aftermath of the Chinese government’s mining ban. The global hash rate of the Bitcoin network tanked as low as 84 EH/s at the start of June following the Chinese government’s crackdown on the crypto mining sector. According to Blockchain.com, the global hash rate has increased by 108% since June, with the Bitcoin network performing at a rolling seven-day average of 175 exahashes per second (EH/s) as of Dec. 8. The figure is roughly 3% …

In a filing with the United States Securities and Exchange Commission on Tuesday, special purpose acquisition company, or SPAC, Adit EdTech Acquisition Corp, announced it would merge with Cincinnati-based Bitcoin (BTC) miner Griid at a $3.3 billion enterprise valuation. SPACs are blank check companies created for the sole purpose of acquiring other firms. After the deal consummates, Griid will list on the New York Stock Exchange under the ticker symbol GRDI. The deal is expected to close by the first quarter of next year. According to its investor presentation, Griid expects to mine 637 BTC this year with a total …

New York-based crypto-mining service provider Foundry USA takes the lead to become the world’s second-largest Bitcoin (BTC) mining pool after taking up a 15.42% share of the network. Data from BTC.com shows that Digital Currency Group-owned Foundry USA stands behind the pool leader AntPool by a hash rate of just 4,000 PH/s, which contributed to a 17.76% network share at the time of writing. The rise in the participation of American entities can be attributed to China’s recent blanket ban on crypto trading and mining activities. The ban forced a large-scale migration of local Bitcoin miners, who now reside in …

In its third-quarter earnings release, Canadian cryptocurrency miner Hut8 announced that it surpassed its goal set earlier this year of holding 5,000 Bitcoins (BTC) in reserves through mining. Its Bitcoin balance now amounts to 5,053, for a total market value of $430 million. During the quarter, Hut 8 generated 50.34 million Canadian dollars (CA$) in revenue and CA$23.37 million in net income, up from CA$5.75 million in revenue and a loss of CA$0.90 million in the prior year's quarter. The company hosts a sizable fleet of Application-Specific Integrated Circuit, or ASIC, machines used for Bitcoin mining. In addition, it deploys …

Prime Blockchain (PrimeBlock), a new cryptocurrency mining company in the United States, is hiring its inaugural management team after starting mining Bitcoin (BTC) in September. PrimeBlock told Cointelegraph on Thursday that it appointed Goldman Sachs veteran Gaurav Budhrani as the company’s CEO. Budhrani spent over 10 years at Goldman, with his latest position featuring crypto investment banking coverage, including the $98 billion direct listing for Coinbase crypto exchange that Goldman was leading. Budhrani said on his LinkedIn that he completed over $300 billion of transactions across many crypto-related verticals, including “cryptocurrencies, semiconductors, next-gen computing technologies, and software.” The firm has …