The information technology manager for the department overlooking the functioning of the citrus industry in Florida, Matthew M., was arrested for using state-owned computing hardware to mine cryptocurrencies, according to a statement released by the Florida Department of Law Enforcement (FDLE).
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MAXUSDT (TRX) perfected cloud mining platform and present risk-free and seamless cryptocurrency mining
The blockchain and cryptocurrency markets have seen tremendous growth over the last decade, with a total market cap of around $1000 billion today, though the value fluctuates due to the volatile nature of the market. This may appear to be a large enough number, but experts believe there is still a lot of untapped potential here. MAXUSDT(TRX) intends to investigate this by allowing crypto enthusiasts and investors to easily mine tokens from the comfort of their couch without spending a large sum on a high-end computer or having to set up a rig assembly with loud devices. MAXUSDT(TRX) has already put everything in place to accomplish this. They have a flawless assembly of even the most intricate mining equipment required for cryptocurrency mining, and you can use it to begin your much-anticipated mining quest right away!
MAXUSDT(TRX) is a forerunner of the ideal platform that has begun a mining campaign. It offers a 1000TRX sign-up bonus to all users. The cloud mining platform also has a referral program in which crypto miners can earn up to 80TRX commission by referring friends and family. Cloud mining does not require the same setup as traditional cryptocurrency mining.
All you need to do is create an account on MAXUSDT(TRX) and activate it. Mining allows you to begin earning a consistent daily profit on the platform. Users will have to rent electricity from MAXUSDT(TRX) in order to mine cryptocurrency with their apparatus. To ensure maximum participation and allow the blockchain industry to reach the masses, the process is kept as simple as possible.
MAXUSDT(TRX), a new initiative founded in 2020 and based in Seattle, Washington, USA, aims to make cloud mining more accessible to users. Following seven years of mining experience for private clients, MAXUSDT(TRX) was one of the first companies in the world to develop cloud hosting mining rigs. To meet a wide range of customer demands, the Cloud mining service platform plans to improve and innovate its services. Its motivation is to provide the best service possible to its customers. Furthermore, it uses artificial intelligence to generate automatic profit, allowing users’ digital assets to be effectively utilized and providing long-term stable income.
MAXUSDT(TRX) also provides referral rewards to users who invite others to join the platform. All rewards will be in TRX (Tronix), the Tron blockchain’s native crypto token. Additional benefits will be available if the person you invited deposits funds into their accounts. Users can earn up to 80 TRX simply by inviting new users, as well as up to 18% trading rebate and up to 13% deposit rebate.
The VIP level of users is available on MAXUSDT(TRX) official website. It calculates the basic account profit. Client income percentages will rise as their VIP status rises. The daily revenue percentages range from 4.0 to 12.0%, while the daily withdrawal percentages range from 2.6 to 8.0%.
It is important to note that TRON(TRX) or cryptocurrency mining can take months or even years to become profitable. It is also recommended that you have advanced technical knowledge. While cloud mining or even TRON(TRX) mining may not be for everyone, it is promising and can be extremely rewarding over time.
So, if you haven’t already registered on MAXUSDT(TRX), do so now! It is a one-of-a-kind platform that will provide all users with seamless cryptocurrency mining. It’s also much more energy-efficient, using more than half green energy. Given the environmental concerns about blockchain technology’s high energy consumption, MAXUSDT(TRX) is the first step toward revolutionizing things.
BitNile Holdings Issues June Bitcoin Production and Mining Operation Report
LAS VEGAS--(BUSINESS WIRE)--BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company (“BitNile” or the “Company”) today published an unaudited update on Bitcoin production and miner deliveries. The number of miners and production capacity metrics set forth within this press release represent the S19j Pro Antminers at the Michigan Data Center. BitNile’s Bitcoin mining production is currently operating at an estimated annualized run rate of 698 Bitcoin based on current market conditions, including a mining difficulty of 29.57 trillion.
BitNile has 9,645 S19j Pro Antminers in its possession and once installed will generate a combined processing power of approximately 965.5 petahashes per second, the computational power that is being used to mine Bitcoin. During the month of June 2022, BitNile self-mined 46.4 Bitcoin. To date, BitNile has mined a total of 256.5 Bitcoin. As of June 30, 2022, BitNile held 140.8 Bitcoin and currently has no plans to sell.
Milton “Todd” Ault, III, the Company’s Executive Chairman, stated, “As we ramp up the number of miners, we are both upgrading our Michigan Data Center’s power capacity and continuing to evaluate the best opportunities beyond the Michigan Data Center for additional capacity. We will provide a detailed update on mining operations and expansion plans in our quarterly earnings update call in August.”
As previously disclosed, BitNile has entered into purchase agreements with Bitmain Technologies Limited (“Bitmain”) for a total of 20,600 Bitcoin miners, including 4,600 environmentally friendly S19 XP Antminers that feature a processing power of 140 terahashes per second (“TH/s”) and 16,000 S19j Pro Antminers that feature a processing power of 100 TH/s.
BitNile began receiving 300 S19j Pro Antminers per month in November 2021 in accordance with the purchase agreements it has executed with Bitmain. Beginning in March 2022, this schedule increased to 2,300 miners per month. Once all 20,600 miners are fully deployed and operational, BitNile is expected to achieve mining production capacity of approximately 2.24 exahashes per second.
The Company notes that all estimates and other projections are subject to the actual delivery and installation of Bitcoin miners, the volatility in Bitcoin market price, the fluctuation in the mining difficulty level, and other factors that may impact the results of production or operations.
For more information on BitNile and its subsidiaries, BitNile recommends that stockholders, investors, and any other interested parties read BitNile’s public filings and press releases available under the Investor Relations section at www.BitNile.com or available at www.sec.gov.
About BitNile Holdings, Inc.
BitNile Holdings, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, BitNile owns and operates a data center at which it mines Bitcoin and provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, automotive, telecommunications, medical/biopharma, and textiles. In addition, BitNile extends credit to select entrepreneurial businesses through a licensed lending subsidiary. BitNile’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.BitNile.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.BitNile.com.
Bitcoin.com Announces Mining Partnership With Bit Mining
Bitcoin.com and Bit Mining are excited to announce a business partnership focusing on BCH and BTC mining.A New BeginningThis joint endeavor is between Bitcoin.com, a company dedicated to spreading BCH and BTC adoption, and Bit Mining, a blockchain ecosystem builder with large mining farms spread across the globe. As an official Bitcoin.com partner, Bit Mining will redirect its own hashpower to Bitcoin.com’s mining pool to help spread the adoption of cyptocurrencies.“Mining,” is the task of processing huge amounts of transaction data to update and secure the public ledger, known as the blockchain. The only physical aspect of this process are the mining farms that are equipped with specialized mining hardware.About Bit Mining Co., LtdBit Mining Co., Ltd is a subsidiary of Bit Mining Group. It was incorporated to offer rental services for mining rigs in Japan. Japan has many strict legal requirements to incorporate a company, so cross-industry customers can be confident our services meet international standards. Customers who use our services also enjoy excellent tax benefits, this is especially true for middle and small-sized enterprises.About Bitcoin.comBitcoin.com is the premier source for everything Bitcoin related. Bitcoin.com can help the public buy bitcoin or choose a bitcoin wallet. Visitors can also read the latest news or engage with the community on the Bitcoin Forum. Bitcoin.com also has a mining pool, game portal site, and many other services. 
Crypto Mining: How It Works and Benefits the Society!
The topic of crypto mining has been the cause of much debate concerning all the electric woes it poses along with the unnecessary energy consumption adversities it brings forth.
In fact, recent studies disclosed several crypto mining subject glimpses - The studies stated that crypto mining collectively consumes twice the amount of energy as compared to mineral mining that relatively consumes less energy to generate exact similar market value. However, this reason is not enough to brush off crypto mining's power as its advantages offer ample reasons that could prove to be profitable for the people and the society in the long haul.
So first let's have a look at what crypto mining is, how it works and its notable advantages.
Revelations of Crypto Mining
Cryptocurrencies are decentralized and as a reason have no third-party organizations or government bodies to regulate the various Cryptocurrency Exchanges that take place in a day.
All cryptocurrency transactions are stored separately in blocks that later on are linked to each other to form what we all know as the Blockchain. If the transaction needs to be validated and then authorized, then the first step is to solve some short albeit intricate mathematical equations - The procedure to solve these complex mathematical equations or knotty algorithms is known as Mining.
Every crypto miner unravels these difficult algorithms believing that they will be granted with a cryptocurrency in the end. So what are the advantages of doing this? Let's see.
Benefits of Mining a Cryptocurrency
- Build a full-fledged career
The main objective of crypto mining is that it uncovers the way to gain cryptocurrencies. And if someone engages in crypto mining then what can be deduced is that when approached properly, crypto mining could turn out to be profitable.
Crypto miners who have aced the know-how of crypto mining can even pursue and build a full-fledged career out of it.
- Excellent medium to win coins
Although acquiring traditional currencies is made easy by central banks, cryptocurrencies entirely hold a different story. Crypto miners have to mine cryptocurrencies and hence gain coins that will be issued relying on the encoded rate.
The best advantage of this process is that miners cannot defy the system and generate cryptocurrencies on a whim. Creating cryptocurrencies in this way would require computing power unlike that of crypto mining where miners are the legitimate owners.
- Economical
As compared to actually splurging on cryptocurrencies, in the long run mining emerges as a more economical option. Albeit mining does require some overhead costs such as electricity bills and the pricey mining equipment, the ensuing costs do not come with a heavy price tag. In general, if mining is scaled in the right manner, it is undoubtedly more cost-effective than buying cryptocurrencies as mining also cancels out the underlying chance of a price drop unlike that of buying a crypto coin.
- Advanced security
The popularity of cryptocurrencies is reaching new heights ever since the crypto boom of 2017 and as a reason more enthusiasts seek this encrypted currency on any Cryptocurrency Exchange Platform.
This has led to enhanced security measures to be undertaken by authorities owing to the heavy user base dealing in cryptocurrencies. Every crypto user has to first store a cryptocurrency in a crypto wallet and ensure that they opt for a trustable VPN that will safeguard them from third parties. As crypto mining is extremely advanced, employing the hash power to the Blockchain will protect the exchanges from malicious attacks. Basically, what crypto mining does is that it makes Blockchain stable and reliable.
- Propelled social engineering
Crypto mining enhances data study mechanisms to propel social engineering to positively sanction the various transactions that take place between multiple sectors such as IT, Manufacturing and Healthcare.
The Final Verdict
Anyone who points a finger at crypto mining and determines that it is slowly having major repercussions on our planet should be given a lesson on all the benefits it imposes on the contrary. Research indicates that over 70% Bitcoin miners are involved in powering renewable energy for all mining operations and that is major.
If anything, from all the terminologies that cryptocurrency has to its name such as fast, secure and reliable - From the looks of it, the time is not far when crypto mining will add environment-friendly to the list.
Author Bio:
Poul Thyregod is the CEO & Board member of Evonax, the online Cryptocurrency Exchange platform. He is responsible for strategy, administration, and marketing. Poul is one happy early e-commerce adopter and has comprehensive experience with optimizing online business through his background as founder and investor in several online companies in Scandinavia.
Ethereum mining – A guide for beginners in cryptocurrency – Part II
The crypto industry is vast, diverse and new and there are plenty of things that you can do, depending on your imagination, skills and amount of effort you are willing to put into it. Together with the development of this industry, new jobs have appeared and those who spent enough time to understand how things work have gotten rich in the past few years. There is a need for experts in the crypto field when it comes to marketing, PR, developers, advisors, and so on. However, I will focus on the most popular ways to make profit in the crypto industry, and I will start with the most popular one: mining.
What is cryptocurrency mining and how does it work?
Cryptocurrency mining, or cryptomining, is a process in which transactions for various forms of cryptocurrency are verified and added to the blockchain digital ledger. Also known as cryptocoin mining, altcoin mining or Bitcoin mining (from the first coin, and the most popular one to this day, Bitcoin), cryptocurrency mining has become popular in the past years, but its difficulty increased, miners ending up buying power stations to make a big profit.
Because crypto industry is a decentralized market, all transactions are made through a cryptocurrency miner, that is responsible for ensuring the authenticity of information and updates the blockchain with the transaction. Another thing about crypto mining is that it involves competing with other cryptominers to solve complicated mathematical problems with cryptographic hash functions that are associated with a block containing the transaction data. The first crypto miner that cracks the code is rewarded by being able to authorize the transaction with small amounts of the cryptocurrency they choose to mine.
If you want to mine, you need advanced hardware and video cards, usually, this being the reason why video gamers complain that the video cards price has tripled in the past months. However, if you do not own professional hardware, there is always the option of cloud mining.
Not all cryptocurrencies can be mined. Some cryptocurrencies are not coins, but tokens with the sole function to power an ecosystem or a project, and thus, they cannot be mined. Bitcoin, Ethereum and Monero are the most popular options for cryptocurrency miners.
Ethereum mining
After you have purchased the hardware you need for your Ethereum mining rig, you need to configure the software side as well. One of the best options for mining software is Claymore. You can also find more about this on a dedicated thread on BitcoinTalk and download the latest version. After downloading the latest version of Claymore, you will have to unzip this file somewhere accessible on your PC. I choose a dedicated folder for this. Once again, in order to mine, you need high-end graphic cards, like the RX 470, 480 or 580 with at least 2 GB RAM, as well as the top-of-the-line cards from nVidia.
Before you can set up Claymore, you need to choose an Ethereum mining pool. Of course, you can choose to solo mine, but it is complicated and not recommended. After trying multiple mining pools, the one that I recommend from my experience is Ethermine. On their website, they write that Ethermine is the high performance Ethereum Mining Pool with instant payouts as soon as you reach your configured payment threshold. It is easy to use after you have correctly configured it.
Before you set-up Claymore, you need to make an Ethereum wallet, and you can easily do that by going on MyEtherWallet (MEW). It’s free, but you have to enter a strong password, note it on a piece of paper, print your Private Key and save your Keystone. Put the private key and password somewhere safe and save your wallet address. You will need to return to the folder that you extracted earlier, and search for start.bat, right click on it and choose “edit”. You will now edit a batch file, which is basically a script that Windows can run. You are telling command prompt to use a program, and the parameters that program can use. On Ethermine, you can find the details you need to insert there: the miner, the pool, the port and insert your MEW. You can also insert options for dual mine, because Ethereum uses the actual memory chips of the graphic cards and other coins use the core, the actual processing power of the cards, so you can run both of them in the same time. You can basically delete everything in your batch file, and replace them with the template provided from Ethermine:
EthDcrMiner64.exe -epool eu1.ethermine.org:4444 -ewal <Your_Ethereum_Address>.<RigName> -epsw xSelect a server that is physically near to you to reduce ping. You can change it later by simply replacing that part of the URL in the start.bat file. Replace <your_Ethereum_Address> with your actual Ethereum address (the one starting with 0x…). Replace <RigName> with any nickname you want to give your rig, and leave a period in between Ethereum address and the rig name. After you are done changing the details, save the changes and unless you want to dual-mine a different coin, which brings a bit more work to setup Claymore to do it, you are done seting a basic Ethereum pool mining.
After you feel comfortable with Claymore, you can read the "Readme!!!" text file, where you can find parameters to customize how your mining rig mines. To start mining, all you have to do is run your batch file, load up your Ethereum address at the website of the pool of your choice and watch as you slowly start to earn Ethereum. If you have problems with its configuration, there are crypto communities dedicated to mining all over Telegram, you could find one from your country, join it and ask for guidance.
We have decided to make a series of articles about Cryptocurrency and Blockchain for beginners. Stay tuned for more!
YOU MIGHT ALSO WANT TO READ: A guide for beginners in cryptocurrency - Part I
Cloud Mining, an alternative and easier way to classical mining
Hello, everyone! In today’s blog, I will take a deeper look into Cloud Mining, and I will explain what it is and, more importantly, what can you do with it.
As you may already know, virtual money can be made by miners, with the use of various graphic cards, processed by machines specialized in mining. There is various ways to quantify virtual money, and one of the most common ways is by classical mining, when you put your PC to work. However, if you do not have a big budget to purchase the best hardware for this, or the space to deposit it, there is another way that is great especially for starters who do not have knowledge about mining, called Cloud Mining.
For many people, mining is used as a passive income, because it does not cause much stress and time, but the downside is that a big investment is needed to get good equipment, that can make real profit over time. Because of this, many people started turning their attention towards cloud mining.
How does Cloud Mining work?
Cloud Mining works like this: you pay a certain company to mine for you and make virtual money for you, in exchange of a commission taken by the company. The positive thing about this is that you don’t have the initial costs of purchasing expensive equipment and you do not have to work about buying machines, or paying for electricity, or having an insupportable noise where you live (if that is where you put the mining rig). Everything you need to do is register and buy or rent the power and hashes for mining.
There are negative aspects that you need to pay attention to. Sadly, there are many fraudsters and scammers on the internet, especially when it comes to crypto, and you need to be cautious at all times. A good idea would be to check the website on WhoIs.com before investing your money. Don’t jump on anything just because of good advertising, and always do your own research first.
Fortunately, there are companies that have a long-standing experience with renting mining power, for example, Hashflare, a company that will celebrate 3 years of existence this spring, and that has a great action for both new and existing users.
Before going on, I want to point out that anyone who decides to use this platform must first investigate it and be sure they understand basic concepts of cryptovalue and how this technology works. We can not respond to possible errors or loss of user data that may occur from the user itself or any possible technology or platform failure, and financial volatility of the crypto market as well. None of the technologies or products that we mention are our product. These have been objectively rated as currently one of the best solutions on the market.
What I found out to be a relevant example is Hashflare, a mining service in the cluster, available to everyone at extremely low input costs. This means that anyone can try this service, with a small amount of money, before deciding to scale their investment and become a bit more serious of a crypto miner. The mining equipment is stored in high-tech plants designed solely for mining crypto. The hardware is kept at an ideal temperature to get the best performance. This company also gives you the choice to choose between one of the offered mining groups.
How to start Cloud Mining
In the following, I will explain how you can start Cloud Mining on Hashflare, mining Bitcoin, Ethereum, ZCash or Dash.
The first step is to make an account on their official site: HashFlare.Io and after that, you will be able to access your dashboard. This is where you will be doing all your actions within the platform. In a future update, they are planning to introduce instant messages and announcements from the company as well.
The second thing you need to do is go to your e-mail and confirm your account. After that, you can add your Bitcoin address (or ETH, ZCash or Dash wallet), to make it easier for you to receive payments. To do this, you need to go to “Settings”, and enter your BTC address. At this point, you can also fill out your bank information, which you will need if you want to pay from your bank card. Afterwards, I highly recommend you to activate the 2 way authentication to increase your account security.
For the next step, an algorithm is required. Bitcoin uses SHA256, and we will choose it in this guide. Litecoin uses Scrypt, Ethereum uses Ethash, Dash uses X11 and ZCash uses Equihash. Just select the one that you want to use, and choose how much hash power you want to rent. Hashflare allows new users to try this service with a minimum 0.80$ roster, so you can try it out before you decide to invest larger amounts.
After you have chosen the amount of hash's you want to rent, press "Proceed" and then click on "select payment method". The next step is to choose the most appropriate payment method (credit card, Bitcoin, Payoneer, etc). After you have selected the payment method, you must accept the Terms & Conditions and click Confirm. After you make the payment, that should be it, congratulations you've become a miner!
My advice to you is to play with small amounts, until you understand how the platform works. Once you know how to do it, move on to bigger investments. Another thing that I noticed is that this system offers you a referral bonus, meaning that once you sign up, you can refer your friends with your referral link and get 10% of what they buy. For example, if your friend buys $100 hash’s, you get an extra $10 for free. You get nothing from your friend, and you get paid.
Cloud mining service won approval for Bitcoin mining
Cloud mining service Coinmint has won approval to take over an abandoned smelter for Bitcoin mining operations on Tuesday, Jan. 30.
“It would be good for Massena. I think they are highly technical jobs. We're definitely going to look forward to something like that,” said Steven O'Shaughnessy, Massena town supervisor.
The company, a subsidiary of cryptocurrency miner Coinmint. plans to invest $165 million and employ 150 people. Workers would oversee computer servers doing lighting fast calculations 24-7 to mine for Bitcoin. One big attraction is low-cost power.
“That's been one of our main marketing points is that we have cheap reliable power,” said O'Shaughnessy.
Hydro Quebec in Canada is worried about the increasing demand of power necessary for mining
Mining is becomming a serious business, and Hydro Quebec in Canada is worried that it won't be able to keep up with the increasing demand of power necessary to satisfy cryptocurrency miners' demand.
“We won’t be able to power all the projects that we’re receiving. This is evolving very rapidly, so we have to be prudent.”, explains spokesman Marc-Antoine Pouliot.
He continued to say that the company is “receiving dozens of demands each day.” Hydro Quebec isn’t necessarily turning down any entrepreneurs just yet, but a surge in demand is prompting executives to “clearly define their strategy” and reexamine how they’re planning to do business.
Miners from China could face strict controls in terms of energy use
Because of low power costs, China has been the cryptocurrency mining heaven, but things are changing lately. Authorities banned cryptocurrency exchange last year, but they've recently noted activity in alternative venues. The government plans to block domestic access to homegrown and offshore platforms that enable centralized trading. Up until last year, China was the most active market for bitcoin trading on exchanges, with some of the biggest bitcoin miners. A ban on ICOs and cryptocurrency exchanges last year has made for harsh environment for virtual currency in the country. Nevertheless mining operations continue, but if these regulations are enforced, operators could face strict controls in terms of energy use.
A small Washington town is a Bitcoin Mining Epicenter
A small town in Washington, only three hours away from Seattle, will become the home to bitcoin miners. Welcome to Wenatchee, a rural area, which is the house of a dozen of the largest bitcoin miners.
"We’ve come from just a few people out there who have been knocking on the door to all of a sudden to people who are banging on the door pretty loudly."
Bitcoing mining is energy-consuming, but the miners from Wenatchee are lucky to live in an area where power is extremely cheam for the town - only 2 to 3 cents per kilowatt hour.
Cryptocurrency Mining Hardware Guide – Ethereum + Siacoin
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How to get started in Crypto Mining
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