The most interesting cryptocurrency mining news that has been published recently

The most interesting cryptocurrency mining news that has been published recently

While the cryptocurrency mining sector keeps on developing it can sometimes be hard to keep track of all the news that is published concerning the crypto mining world. In this blog article we picked the most interesting and important news that has been published recently and summarized it so that you are up to date with the most important mining news. 

World’s largest mining farm

According to a press release that was published on the 18th of November, the German mining firm Northern Bitcoin has entered into a merger agreement with the United States-based mining firm Whinstone. Together they will build the world’s biggest mining farm in Texas. 

Together the firms will build a mining farm that has capacity of one gigawatt on a 100 acres piece of land in Texas. The construction of the farm will happen in several stages, with the first stage being finished in Q1 2020. After finishing the first stage the mining farm will have a capacity of 300 megawatts. 

When the final construction stage is finished, which the firms expect to happen in Q4 2020, the farm will have a capacity of 1 gigawatt. This will make it the largest data center of North America. Not all of the capacity will be used for cryptocurrency mining, however. The data center will also be used for video rendering and Artificial Intelligence (AI) purposes. 

China will not ban bitcoin (BTC) mining

China is known for being an unfriendly location for cryptocurrencies such as bitcoin (BTC). The world’s biggest cryptocurrency, Initial Coin Offerings (ICO) and cryptocurrency exchanges are all banned in the eastern country. For a while, rumours suggested that the government also wants to ban cryptocurrency mining.

The National Development and Reform Commission, a commission that advises the Chinese government, put mining on a list marking it as “bad for the environment and/or a waste of resources.” In the final version of the document cryptocurrency mining is no longer included. As nearly 70% of all bitcoin mining is commenced in China, this news is bullish as the security of the network will not be in danger due to 70% of bitcoin miners suddenly dropping out. 

Litecoin’s oldest mining pool celebrates birthday

We end this blog article with LitecoinPool.org. On the 5th of November 2011 it officially launched operations meaning the LTC pool blew out 8 birthday candles! The founder of the pool, Pooler, added a message to the website stating the following:

Today we are celebrating LitecoinPool.org’s eighth birthday! As some of you may remember, the pool was officially launched on November 5, 2011, just three weeks after the Litecoin network went live (by the way: Happy 8th birthday, Litecoin!). Over this past year, our miners have computed the astronomical number of one sextillion (1021) hashes. To all those who enjoy (or have enjoyed) mining with us, we’d like to say a big thank you! Here’s to the next year and the future of Litecoin!