Bitcoin Mining - What you need to know

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Bitcoin mining is a peer-to-peer process of adding data into Bitcoin’s public ledger in order to verify and secure a contract. Groups of recorded transactions are gathered in blocks and then added into the Bitcoin blockchain. Bitcoin mining requires a lot of resources to protect the network from the possibility of altering past transaction data by making all attempts in changing blocks inefficient for the intruder. Bitcoin mining is rewarded by the network through transaction fees and subsidies of new coins to encourage miners to spend their resources on mining new Bitcoin blocks. As Bitcoin mining is increasingly difficult, it has become impossible to attempt mining as an individual. As a result, most Bitcoin mining is being done by mining pools, which include several participants sharing their reward. Bitcoin mining is controversial, as it is a great tool for securing transactions but complicating the scaling of the network.

Source: COINTELEGRAPH

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​​Bitcoin Group introduced a new generation of hardware for bitcoin-mining under the control of the integrated Bitfury Clarke ASIC.

The basis for Bitfury Clarke ASIC was served by five successful generations of Bitfury mining chips. According to the developers, the new chip has the highest performance characteristics among the IS for bitcoin-mining.

🗣CEO Valery Vavilov:During the development process, we took into account all factors - from the chip structure to its performance, optimal power distribution, cooling systems and data processing speed. Customers will receive economic benefits regardless of the size of the ASIC.

14nm Bitfury Clarke ASIC is fully optimized for Bitcoin Mining on SHA256. The hashing capacity is up to 120 GH per second with energy costs of only 55 mJ / GH. The minimum required mains voltage is 0.3 V.

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Bitmain presented a high performance mining chip BM1391 at the World Digital Mining Summit in Tbilisi, Georgia.

BM1391 will be implemented in the next generation of models of ASIC-miners line Antminer.

Cihan Wu said the chips will be available for purchase in the nearest future.

It is known that the energy efficiency of the chip is 42 J / TH.

Watch the full summit

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Bitcoin is very dependent on this mining process. Because with mining carried out by Bitcoin (miner) miners this will validate every transaction, build and store the new block into the blockchain. To save new blocks into this Blockchain, the miners must reach consensus.

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Chechnya will create a Eurasian crypto mining pool, the press secretary of the head of the Chechen Republic has reportedly confirmed. The project aims to combine the resources of crypto miners from the Eurasian Economic Union countries. The pool will be the first step in the implementation of the ‘Crypto Chechnya’ program, which is aimed at developing the region’s economy with the use of blockchain technologies.

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Ebang’s New E-11 Miner Claims Speeds of Up to 44TH/s
Ebang Announces 44 Terahash E-11 Miners With 10nm ChipsBitcoin miners will have a lot of mining rigs to choose from, as it seems a wide variety of new machines will be entering the market shortly. This week the firm Ebang Communication has announced it will soon be launching three new ASIC mining devices for SHA-256 compatible coins. The firm’s next generation Ebit E-11 series models will utilize 10nm semiconductor technology with efficiencies up to 44J/TH. According to Ebang’s website, the E-11 series miners sales will be “forthcoming.”

The three models were highlighted on the company’s advertisement display published on the Chinese forum and messaging service Wechat. According to the ad, the new Ebit miners will be the E11 (30TH/s), E11+ (37TH/s), and the more powerful E11++ (44TH/s).

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This week the firm Squire Mining, a company that plans to offer next-generation 10nm ASIC chips, has revealed it is working with Samsung Electronics as its foundry partner. With help from Samsung’s foundry, Squire, and a company called Gaonchips, plan to complete its ASIC chip FPGA prototype by September 30, 2018.

Squire Mining Announces New ASICs Will Use Samsung Semiconductors
Squire Mining Discloses Next-Generation ASIC Chips Will Be Made by SamsungOn Tuesday the company Squire Mining Ltd., (CSE: SQR), has announced the business partnered with two leading firms from Southeast Asia, Gaonchips and Samsung Electronics. According to the Canada-based Squire, the collaboration will focus on producing next-generation 10nm ASIC chips for bitcoin mining. Gaonchips will be used for Squire’s semiconductor design house and Samsung will manufacture the ASIC chips in Korea.

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McAfee Report: Cryptocurrency Mining Malware to only Grow in Magnitude
The crypto community is well aware of cryptojacking - a crypto-malware attack that uses the hosts’ computer power to mine cryptocurrencies without their knowledge. In what comes as unfortunate news for the budding community, the problem is only going to get worse.

 - Read More: https://btcmanager.com/mcafee-report-cryptocurrency-mining-malware-grow-magnitude/

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Montana’s second most populous county, Missoula County, has rejected the proposal for a moratorium on cryptocurrency operations. The proposal was first presented at a public hearing in June but was postponed for three months. I think it must be known by all of community of miners and we can read more about it on here: https://news.bitcoin.com/crypto-mining-moratorium-rejected-county-montana/

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Cryptocurrency exchange Coinsquare has reached a partnership agreement with a major Canadian bank and they’ve covered the announcement in The Daily. Also in Canada, a large bitcoin farm may be cut off from the grid by a mayor concerned about electricity consumption, and elections in Québec are likely to change the game for mining companies. In China, a bitcoin billionaire turns back on the industry; the government crackdown may have played a role.
Read more on here:  https://news.bitcoin.com/the-daily-coinsquare-secures-banking-partnership-quebec-elections-bring-hope-to-miners/ i think it is good information for the miners.