The recent drop in values has created anxiety among many players in the crypto space, perhaps none more so than miners, many of whom have begun to experience losses for the first time. Mining is the underlying foundation for proof-of-work (PoW) cryptos, as it ensures decentralization and maintains consensus. Thus, the lack of profitability over…
On the 26th of June Crypto Briefing, Bitcoininst, CryptoVest, Smartereum, LiveBitcoinNews and CryptoCoinNews all reported on the Bitmain-owned pools Antpool & BTC.com reaching close to 51% of Bitcoin's total hashpower together. What they failed to consider is the fact that the company does not own the majority of the miners participating in the pools, but rather just supports them with infrastructure…
In 2013 the first Application Specific Integrated Circuits (ASICs) entered the marketplace for Bitcoin mining. These chips, which are vastly more powerful than the GPUs used up to that point, quickly transformed Bitcoin mining from an obscure activity by crypto advocates into a major corporate enterprise. In addition to selling the ASIC miners, manufacturers quickly…