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The software used to mine bitcoins just got its first update since late 2012. A group of companies, including payments giant Block (formerly Square), are trying to help the open-source protocol become an industry standard.
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Bitcoin, the largest cryptocurrency in the world, is finding it tough to retain miners despite the recent price increase. For many operators, Bitcoin mining was a phenomenally profitable endeavor, with gross margins reaching as high as 90 percent at times.
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Despite recent market turmoil, Bitfarms has decided to sell 3,000 bitcoins for $62 million instead of hodling them, a decision that has slashed miners' profit margins.
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According to a high-ranking Russian senator, only a small percentage of cryptocurrency transactions are for unlawful purposes, and the usage of digital money in illegal operations is mostly a fallacy. Russia can become a worldwide leader in crypto mining, according to Andrey Lugovoy, one of the parliamentarians working on new crypto rules.
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The difficulty of Bitcoin mining is increasing, while the network's hash rate has not.
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According to analysts, sanctions are likely to push Moscow to develop alternatives to the US-led financial system.
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In 2021, the United States controlled the mining industry.
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An “incredibly rare” purple-pink Russian diamond was auctioned this week for more than $26 million, a record for a gem of its kind.
Sotheby’s said it sold the massive 14.8-carat
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Rio Tinto said its CEO and two other top executives would step down over the mining giant’s destruction a pair of ancient caves in Australia. Chief executive Jean-Sébastien Jacques will leave by March 31 of next year in response to the May blast at Juukan Gorge, a historic site that humans had occupied for 46,000 …
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Rio Tinto said Monday it will cut the short-term bonuses of some senior executives but stopped short of leadership overhaul following review of the company’s destruction of two ancient caves in Australia. Chief Executive Jean-Sébastien Jacques and two other leaders will take financial penalties after the world’s biggest iron ore miner legally destroyed two historically …