Struggling online lottery firm announces move into block reward mining
Shenzhen-based and Nasdaq-listed firm 500.com has entered a definitive purchase agreement with an undisclosed party to buy ASIC mining machines.
Shenzhen-based and Nasdaq-listed firm 500.com has entered a definitive purchase agreement with an undisclosed party to buy ASIC mining machines.
Mining difficulty is a relative measure of the competitiveness for discovering blocks on the BTC network, rising and falling based on the amount of computing power consumed by the network.
The company plans to use the proceeds from this recent capital raise to pay for the ASIC miners it ordered from Bitmain Technologies Inc.
The hardware manufacturer designed the Avalon Immersion Cooling Miner A1066I to be noiseless and eco-friendly.
To enable the transition to block reward mining, the NASDAQ listed company signed a binding investment term sheet with several former board directors of ASIC hardware manufacturer Canaan.
The Nasdaq-listed company has completed internal testing of its digital currency exchange and will soon begin public testing leading up to an official launch.
By leveraging its newly assembled hashing power, the company expects to benefit from the economies of scale in purchasing equipment and managing energy cost to achieve higher returns.
Bitmain co-founders Jihan Wu and Micree Zhan reportedly reached a settlement that ends their messy long-running feud around who will control the blockchain giant.
Even during the global economic downturn, esports' popularity surged to new highs, intensified by the restrictions imposed by the pandemic.
U.S.-based Riot Blockchain recently announced it would soon test a new 8-megawatt immersion cooling technology at their Texas facility.
Core Scientific is planning to increase current capacity by threefold by purchasing over 58,000 ASIC hardware miners from Bitmain.
A vendor has taken Hyperblock to court, alleging the owner concocted a scheme to keep them from paying the debt for electricity it consumed.