Mining Company Ebang’s Stock Listed on Nasdaq Down 11%, Firm Plans to Launch Offshore Exchange

The bitcoin ASIC mining rig manufacturer, Ebang International Holdings, was recently listed on Nasdaq last Friday on June 26. Ebang is now the second mining rig manufacturer to have a U.S. initial public offering (IPO) by selling company shares. Since the initial sale on opening day, Ebang’s Nasdaq-listed “EBON” is down 11.5%. So far, the Nasdaq shares dubbed “EBON” haven’t changed too much in price and since the IPO launch. This week Ebang also revealed it is launching an offshore crypto exchange later this year. The firm Ebang International Holdings…

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Bitcoin’s 5% Drop in Value Puts Pressure on BTC Mining Operations and Older ASIC Rigs

During the last seven days, the price of bitcoin has dropped 4.8% from a high of $9,700 on June 24, to a low of $8,965 on June 27. Since then the price has increased and the price per bitcoin is back above the $9k zone but much lower than before. The lower price has affected the profits of miners hashing away to find blocks on the network. Ever since they lost 50% of the block reward on May 11, gathering profits have been tough on miners with bitcoin prices at…

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Bitcoin Miner Hut 8 to Add 275 PH/s of Mining Capacity With $8.3M Capital Raise

Hut 8 Mining Corp. has raised $8.3 million from the sale of 6% of its shares to investors. The Canadian bitcoin miner originally intended to raise $7.5 million from the sale, but it was oversubscribed. Totonto Stock Exchange-listed Hut 8 issued about 5.8 million “units” at a price of $1.45 each. Each unit is comprised of one common share. From this, investors have the option to buy another share for $1.80 between now and December 2021. The Alberta-based miner said funds from the offering will be used to upgrade its…

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Bitcoin Mining Chip Manufacturer Ebang to List on Nasdaq This Week

On Friday, June 26, the China-based Zhejiang Ebang Communication, often referred to as Ebang, will be listed on Nasdaq, according to various reports. Ebang’s initial public offering (IPO) will be the second U.S.-based IPO for an ASIC mining manufacturer joining the company Canaan. The Ebang IPO prospectus was also updated on June 17, raising the fundraising goal to $106 million after the company previously filed for $100 million. A myriad of regional reports indicates that the Chinese company, Ebang will be listed on the American stock exchange Nasdaq located in…

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Bitcoin Mining Heats Up: High Difficulty Adjustment, Pool Consolidation, Less Concentration in China

It’s been approximately 37 days since the notorious Bitcoin reward halving that took place on Monday, May 11, 2020. On June 16, the Bitcoin network saw a large upwards difficulty adjustment making it much harder to mine bitcoins and slowing down the issuance rate because block generation has slowed down. Furthermore, a recent research report predicts the SHA256 ASIC mining industry will grow more consolidated in the future. Bitcoin Network Difficulty Jumps to 15.7 Trillion One of the most lucrative but also one of the most competitive operations in the…

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Satoshi Nakamoto Candidate Paul Le Roux to Start Bitcoin Mining Business After Prison Time

A possible Satoshi Nakamoto, the mysterious creator of Bitcoin, has been sentenced to 25 years in prison. Criminal mastermind Paul Le Roux told the judge that upon his release he plans to “start a business selling and hosting bitcoin miners,” claiming that his ASIC chip design will “have an order of magnitude faster at bitcoin mining than any current design.” Satoshi Candidate to Start Bitcoin Business Paul Le Roux, a criminal mastermind whose biography made him a possible candidate for Satoshi Nakamoto, the pseudonym of the Bitcoin creator, has been…

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Ether Mining Pool Decides to Pocket One of the $2.6M Fee Transactions

Ether (ETH) mining pool Etherchain decided to distribute the $2.6 million in fees it received as part of the abnormal string of transactions seen last week. According to a tweet published on June 15, the pool will distribute the windfall to all miners who participated in that block, according to a snapshot taken at the time of the transaction. Justifying the decision, the company said that “given the amount involved we believe four days is sufficient time for the sender to get in touch with us.” The company further revealed…

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Bitmain’s Cofounder Accused of Hindering Next-Gen Bitcoin Mining Rig Shipments

On June 11, 2020, regional reports disclosed that the cofounder of Bitmain, Micree Zhan, is still battling with Jihan Wu in an ongoing feud. The quarrel is allegedly causing shipment problems for customers, as reports note that Zhan is prohibiting deliveries stemming from the company’s Shenzhen factory. Bitmain Cofounder Micree Zhan Accused of Causing Mining Rig Shipment Delays Stemming from the Firm’s Shenzhen Factory An account from the financial columnist, Vincent He, explains that the two cofounders of Bitmain continue to feud over the company’s operations. The report from China…

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A Number of Small Bitcoin Mining Farms Are Quitting as Older Mining Rigs Become Worthless

Bitcoin mining has changed a great deal since the block reward halving on May 11, 2020, and the overall SHA256 hashrate has been between 100-120 exahash per second (EH/s) during the last 48 hours. Reports from China show that a number of small mining operations are struggling and older bitcoin mining machines are becoming useless. After the bitcoin (BTC) reward halving, mining competition grew extremely fierce and it is much harder for smaller operations to compete than ever before. On Wednesday, the overall Bitcoin (BTC) network hashrate is between 100-120…

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Bitcoin Hashrate Bounces Back- 2x the Mining Pools, Farm Diversification, 100 Exahash

Around 18 days ago, the Bitcoin protocol experienced it’s third block reward halving and the network saw a 33% hashrate loss. Since then, however, bitcoin miners have increased in both number and hashpower, as the network has seen a 15-20 exahash per second (EH/s) increase. Moreover, on May 22, there were 17 mining pools hashing away at the Bitcoin network and now there are 32 pools. Bitcoin Hashrate Rebounds Mining bitcoin is a competitive industry. The mining competition grows stronger each and every year. After the Bitcoin (BTC) network’s third…

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