Month: January 2015

BTCS Announces Huge, New Facility

Blockchain Technology Solutions(BTCS) has announced the purchase of a new, 83,000 square foot mining facility with the intention to fill it with 550 TH/s worth of hashing power, purchased by hardware manufacturer Spondoolies. They expect the mining equipment to go online in the next two to four weeks and they expect it to represent a 161 …

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Reddit ‘Lets Go’ of Cryptocurrency Developer, Bitcoin Not In ‘Near Future’

It appears Reddit has decided against making its own cryptocurrency. As previously reported by multiple media outlets, the company was strongly considering it. Ryan X Charles was reportedly hired to help Reddit develop its own cryptocurrency. Previous to Reddit he was working at BitPay, according to his LinkedIn page. Charles appeared very enthusiastic about the …

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BitFury Buys Cooling Tech Firm

When it comes to mining, cooling down the mining hardware is one of the most important factors in improving efficiency and hash rates. As mining difficulty increases, temperature is more and more important, which is why some mining farms have been moved to arctic locations to deal with increasing heat. Why Allied Control? BitFury wants …

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Cointerra File For Bankruptcy

In a move unlikely to surprise many, today mining hardware manufacturer Cointerra announced that they’re unable to pay their current debts and have filed for chapter seven bankruptcy. Today’s announcement, displayed on the company’s home page follows a recent lawsuit by C7 Data Centers. The company, one of hundreds listed in their bankruptcy petition, filed …

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All Eyes On Bitcoin At SXSW 2015

Since its 1987 beginning, the Austin, Texas music festival, SXSW, has become world renowned for featuring the newest and coolest bands. The conference has since expanded into film and technology, in addition to the music festival. The 9 day event now features a plethora of movies, startups and bands. Last year Bitcoin played a noticeable …

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CEX.IO Suspends Cloud Mining Services

UK based cloud mining and exchange, CEX.IO announced a temporary suspension of their cloud mining services this week, citing the recent drop in Bitcoin’s price and the increase in difficulty as the reason why. Officially announcing the changes on their blog, the company explained that the current climate meant their service was not currently profitable. …

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Bitstamp Resumes Trading

Bitstamp, one of the largest Bitcoin exchanges resumed trading on Friday evening, following four days of suspended services following the companies’ hot wallets being compromised, resulting in a loss of approximately $5 million. In a situation bound to automatically draw comparisons to the Mt Gox hack of almost 12 months ago, the company were praised …

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The Return Of Butterfly Labs

Following numerous complaints that lead to the FTC investigating the companies business practicses, causing them to shut up shop in 2014, Kansas based hardware company,  Butterfly Labs have announced that their operations have now resumed.In December the US District Court rejected a request by the FTC to freeze the companies assets. [blockquote]On December 12, 2014, the United …

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