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Chinese cryptocurrency mining giant Bitmain confirmed it would roll out a firmware update for so-called ‘Overt AsicBoost’ to all its Antminer models in a blog post Monday, Oct. 22. Bitmain, which holds a monopoly on Bitcoin mining through its subsidiary mining pools BTC.com and Antpool, said the release would begin with its most recent Antminer S9 product, extending to older versions next week. Overt AsicBoost refers to a method of increasing mining “effectiveness” for Antminers, Bitmain says, in a way that does not produce “any negative impact on the Bitcoin protocol.” “Initially, we decided against activating this mathematical function in mining hardware produced by us, largely because of the legal uncertainty surrounding the use of AsicBoost,” the post reads: “As an organization, we didn’t want to violate patent laws or act in any way that was untoward.” Bitmain garnered a slew of criticism beginning in 2017 over AsicBoost, with Bitcoin Core developers in particular v...

An effort to keep the $200 billion siacoin blockchain free from corporate interests is devolving into chaos amid accusations against the companies at the center of the effort. At issue is the conduct of the protocol’s coders, and the motivations behind their push to alter the rules of the blockchain they maintain. With a proposal, introduced last week, developers including siacoin creator David Vorick have floated changes that would keep some mining equipment operators from earning value by securing the distributed storage protocol. Simply put, the code would fork siacoin so that products offered by Bitmain, the China-based firm on the verge of an initial public offering , and its competitor Innosilicon, would be disabled. But while such efforts have been met with enthusiasm on other blockchains, satisfying concerns about how such changes could impact the balance of power on their networks, there’s just one problem – in the case of siacoin, the equipment that would still work is ...

Mining In recent news pertaining to cryptocurrency mining, Nvidia has witnessed a drop in its share price after announcing an unexpectedly modest earnings outlook – partly driven by reduced demand for mining hardware. Also, the World Digital Mining Summit has been scheduled for late September in Tbilisi, Georgia, and reports continue to surface detailing opportunistic students using college electricity to mine crypto. Also Read:  Chinese Courts Face Hundreds of Crypto Cases, Struggle with Rulings Nvidia Shares Drop After Reduced Crypto Sales Fuel Declining Profits in Q2 The price of Nvidia stock fell by 6 percent on Thursday following the announcement of lower-than-expected revenue guidance . Despite the bearish response, the company reported better-than-expected earnings. As of this writing, Nvidia’s shares are valued at $247.25 USD each. Nvidia announced revenue projections of $3.25 billion for Q3 of 2019 – roughly 2.7% less than analyst estimates of 3.34 billion for ...

Graphics chip manufacturing giant Nvidia saw huge growth in late 2017 and throughout most of 2018 as demand for its high-end Graphics Processing Units (GPUs), used for cryptocurrency mining, skyrocketed. The recent bear market has caused demand for GPUs to dwindle, leaving Nvidia to readjust its strategy. Nvidia In Its Heyday It seems Nvidia is throwing in the towel on the development and production of its cryptocurrency mining focused graphics cards and chips. Nvidia has seen some explosive growth over the last few years and is currently seeing a 68% increase in value in the past year alone (indicated below in yellow), although this week the stock price has slipped almost eight percent (indicated below in red). Nvidia’s biggest rival, Advanced Micro Devices (AMD), also saw record highs recently, gaining more than 100% in just the past quarter. Nvidia was especially successful riding the waves of the huge cryptocurrency boom of November and December, gaining an impressive 42% f...

U.S. -based graphics processing unit (GPU) manufacturer Nvidia stocks fell after announcing its third-quarter estimates, MarketWatch reported August 16. The firm’s revenue was affected by a decrease in crypto mining as digital currency markets slumped earlier this year. Nvidia shares declined more than five percent in the extended session. The closing price in the regular session was $257.44, down 0.6 percent. Nvidia forecasted its third quarter revenue between $3.19 billion and $3.32 billion, lower than the figure predicted by analysts of $3.34 billion. The company reported that crypto mining sales were significantly lower than expected in Q2, adding that it does not expect to make significant blockchain -related sales for the rest of the year. Colette Kress, chief financial officer at Nvidia, said: “Our revenue outlook had anticipated cryptocurrency-specific products declining to approximately $100 million, while actual crypto-specific product revenue was $18 million. Whereas...

Iceland -based hashpower hosting service Genesis Mining is compelling some of its customers to upgrade their Bitcoin (BTC) mining contracts following this year’s significant cryptocurrency price decline, according to an August 17 statement . In 60 days, the company will terminate services for open-ended contracts that mine less than the daily maintenance fee. Genesis claims that the downward trend of BTC around January and heavy decline in crypto mining in April and May resulted in a reduction of mining outputs. If customers wish to continue using Genesis’ services, they have to upgrade their existing BTC mining contracts to premium five-year contracts. Genesis notes in the announcement: “…as a hashpower hosting service, we can only influence one out of the three main factors that determine mining rewards, and that is the infrastructure… The market price of Bitcoin and the mining difficulty are factors we cannot control.” Genesis Mining was started in 2014, with locations in...

New academic research  released by RWTH Aachen University has discovered that cryptocurrency miner  CoinHive   is very profitable. In fact, it’s generating over $250,000 worth of Monero profit every month by hi-jacking internet users’ CPUs. One of the users could have easily been you.  As reported by The Next Web , the research itself provides a broad overview of browser-mining activity across the Web. It reveals that Monero accounts for 75 percent of all browser-based cryptocurrency mining. The organization CoinHive is behind most of it. Thus, it is no wonder that security and investigation reporter Brain Krebs warns readers by  claiming : Multiple security firms recently identified cryptocurrency mining service Coinhive as the top malicious threat to Web users. What is CoinHive? CoinHive offers an in-browser, JavaScript-based miner for the Monero Blockchain. People can embed the mining script into a website. Then, when a user visi...