Bitcoin Miners Halt Operations as Rainstorm Triggers Mudslides in China

news A prolonged rainstorm in China’s Sichuan province has caused land- and mudslides, forcing some local hydropower plants and bitcoin miners to halt operations. Heavy rain has been drenching Sichuan’s mountainous Aba prefecture since Monday, with landslides now affecting 17 counties in the area, according to local government social media posts on Tuesday. Among them, the Wenchuan county…

Blockstream Launches Bitcoin Mining Farm With Fidelity as Early Customer

news Blockstream has launched a colocation mining service and already counts the Fidelity Center for Applied Technology and LinkedIn founder Reid Hoffman as customers. On Thursday, the bitcoin and blockchain technology firm announced a new mining wing, Blockstream Mining, along with a BetterHash-based mining pool, Blockstream Pool. Led by cryptographer Dr. Adam Back, Blockstream is best…

Iranian Authorities Shut Down Two Crypto Mining Farms Amid Power Spike

news Authorities in Iran have seized roughly 1,000 bitcoin mining machines from two abandoned factories, according to RadioFreeEurope. Following the June 27 action, a spokesman for the Energy Ministry said cryptocurrency mining operations were destabilizing the power grid and affecting electrical access for households and businesses. He warned that the government will continue to pursue…

Japan: SBI Group Sets Up Spin-Off to Manufacture Crypto Mining Chips

Japanese financial giant SBI Group has created a dedicated subsidiary that will manufacture cryptocurrency mining chips, the company confirmed in a notice on March 22.SBI, which has launched spin-offs covering various aspects of the cryptocurrency industry, now says it wishes to expand its influence in the mining sector through the creation of SBI Mining Chip…