Archive | cryptocurrency mining

Icelandic National Allegedly Involved in Cryptocurrency Mining Rig Thefts Re-Captured in Amsterdam

An Icelandic national who escaped from jail at end of last week for his involvement in a cryptocurrency mining heist has been arrested in Amsterdam, according to reports. Sindri Thor Stefansson, originally arrested in February, is one of 11 men wanted in connection with the theft of 600 computers in late-December and early-January which were… […]

Georgia Second Most Active in Crypto Mining

With a population of fewer than 4 million people, Georgia’s position as second in the world for cryptocurrency mining is an intriguing one. Mining farms US technology company Bitfury accounts for significant portion of the mining activity in Georgia. The company runs a vast data center filled with mining software on the outskirts of the capital Tbilisi, […]

“Big Bitcoin Heist” Fugitive Flees Iceland, Pens Letter Saying He Wants to Go Home

The man who escaped custody in Iceland and got on a passenger plane that was carrying the country’s prime minister says he ‘will be back soon.’ Sindri Thor Stefansson was being detained for his suspected role as the mastermind behind the February theft of 600 cryptocurrency mining rigs, being one of the 11 people arrested… […]

Consolidation in Cryptocurrency Mining Industry to Pressure the Price of Bitcoin

Bitcoin mining is increasingly becoming an activity for big business as the complex calculations needed to generate the virtual currency require industrial-scale capabilities. As the mining industry matures, the expected consolidation is likely to oust ‘regular folks’ that use their personal computers. Large Cryptocurrency Miners Are Taking Over the Game Bill Tai, the chairman of… […]

Recent Drupal Exploit Is Being Used to Illegally Mine Cryptocurrencies

Cybercriminals often target known and unknown exploits found in operating systems and web architectures. Evidently, someone took advantage of a recent Drupal exploit to mine cryptocurrencies in an illegal manner. Although the exploit was patched in late March, there are still some concerns over how exactly this exploit was leveraged. A Drupal Exploit Enabled Crypto Mining As is […]

Samsung Implents Blockchain and Produces Bitcoin Miners, Focuses on Crypto

Blockchain technology is making inroads in many different industries. Samsung, a global technology leader, is now keeping a close eye on this technology. The company plans to incorporate distributed ledgers to manage its global supply network. Samsung also shows a keen interest in manufacturing cryptocurrency mining equipment. The Impact of Blockchain Technology Cryptocurrencies have introduced… […]

Kodi Removes Add-Ons Illegally Mining Cryptocurrencies

Even though public interest in cryptocurrency is growing, it is not always for the right reasons. Criminals have taken a strong liking to crypto, especially when it comes to mining them with other people’s computer resources. It seems there has been a growing number of cryptocurrency mining-oriented Kodi add-ons. As such, the developers are cracking down […]

Bitcoin Farms Choose Quebec for its Clean Energy

Quebec, a predominantly French-speaking province in eastern Canada, is home to one of the largest bitcoin farms in North America owned by Bitfarms. The cryptocurrency rush is taking over, but environmentalists are increasingly concerned about the implications of bitcoin mining as the energy consumption skyrockets. Hydro-Québec Provides Clean Energy for Cryptocurrency Mining The cryptocurrency boom began… […]

HyperBlock Acquires Cryptocurrency Mining Firm CryptoGlobal for C$106 Million

Canadian technology firm HyperBlock announced the acquisition of all issued and outstanding shares of cryptocurrency mining company CryptoGlobal in a CAD$106 million deal, subject to regulatory approval. HyperBlock to Merge with CryptoGlobal in C$106 Million Deal The merger is due to take place in May 2018 under the name HyperBlock Technologies Corp. and will give absolute… […]

Cryptocurrency Mining Extensions Banned From Chrome Web Store

Google have decided to take action against the recent rise in cases of cryptojacking. They announced today that they will no longer allow Chrome extensions that mine cryptocurrency. Blanket Ban on Crypto Mining Extensions The web giant stated that new submissions of extensions for their Chrome browser that contain scripts used to mine cryptocurrency would… […]

Venezuela Wants to Boost Cryptocurrency Mining Activity

Venezuela is a very peculiar country for many reasons. Ever since the Petro was issued, people have been wondering how it would affect actual cryptocurrencies in the country. It now seems the government has launched a crypto mining program meant to attract up to 1 million people. It’s a rather intriguing development, especially because this has seemingly nothing to […]

New York Now Wants to Tax Bitcoin Mining, Following Controversial BitLicense

New York state is famously tough on cryptocurrency trading but has recently struck some big deals with Bitcoin mining companies. Now the authority that controls electricity say prices for such activities is going to cost more. Mining Operation a Boon to Small Town It was only last month that Coinmint had made a $165 million […]