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Major African Insurer Refuses to Cover ‘Risky’ Crypto Mining Equipment

By CCN Markets: One of Africa’s largest insurer, Old Mutual, announced that it will no longer cover crypto mining equipment due to lack of regulation, wrote IOL on June 12. After researching the industry, the Pan-Africanist financial group discovered a number of reasons that prompted it to make the decision that will not sit well with crypto miners. According to a local report, Old Mutual is convinced that the cryptocurrency industry is associated with cybercrime while the equipment used for crypto mining is highly modified and operates on a 24/7…

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Bitcoin Mining Bitcoin Politics Craig Wright Crypto Dave Kleiman 

$10.8 Billion Bitcoin Tussle Heats Up as Florida Court Summons Craig Wright

By CCN Markets: Craig Wright is to appear in a Florida court next week to contest allegations that he stole 1.1 million Bitcoin from his old friend, Dave Kleiman. Wright had initially appealed to postpone proceedings or be allowed to attend via video conference call. Those appeals were denied by District Judge Beth Bloom, who deemed the plaintiff’s claims substantial enough that he show up in person to defend against them. Wright summoned to florida court on june 18th According to a court docket filed June 10th by the US…

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CCN is Shutting Down after Google’s June 2019 Core Update

Dear readers, Let’s get straight to it. Google’s June 2019 Core Update rolled out on June 3th 2019 and CCN’s traffic from Google searches dropped more than 71% on mobile overnight. Our traffic has experienced a massive impact by Google’s June 2019 Core Update. Image from Sistrix.com.   CCN’s visibility index on Sistrix.com shows how our site was affected by Google’s Core Update. As data from SEO analyzer Sistrix shows, our visibility on Google dropped from 1.2 to less than 0.6. You might say we ought not to face any…

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bitcoin Bitcoin Mining Crypto new york 

Crypto Winter Freezes New York Bitcoin Mining Industry

A unique characteristic of many upstate New York cities is their low energy rates. Hydroelectric dams along the St. Lawrence river give residents electricity so cheap that many even heat their homes with it. The region made perfect sense for crypto miners during the “gold rush” days of 2017 and early 2018, and the increased demand from the Bitcoin mining industry created the problem of increased electricity demand driving up the costs. Mining Premiums & Government Action + Crypto Winter = Toxic Environment for Bitcoin Miners Some municipalities like Lake…

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bitcoin Bitcoin Mining bitmain Crypto 

Bitcoin Mining Giant Bitmain Launches New Chip, Hints at New Miners

Bitmain has announced the BM1397, a new, more efficient cryptocurrency mining chip. The chip sports a 28% power efficiency improvement over its predecessor. The news brought with a mention of upcoming S17 and T17 models, about which very little other information is available. According to a press release, the chip uses just 30 joules per terrahash. This means that as much as 33 terrahash can be powered by just 1 kilowatt of power. If an existing mining outfit were to simply replace its existing hashpower with the newer models (once…

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