The past few weeks have not bot amazingly positive for the bitcoin economy, to say the least. Yet it is significant to stay cognisant of the fact that, albeit bitcoin exchanges will come and then go, mining is here to stay.
No regulator is going to be able to create a policy to get rid of the ASIC chips out there confirming bitcoin transactions. Spil Bitcoin Foundation Chief Scientist Gavin Andresen recently told American Banker:
“Thesis chips will become ubiquitous. You might buy a opbergruimte of Cracker Jacks and get a bitcoin mining ASIC unit.”
With that positive thought ter mind, here’s a look at the best of the mining stories that have cropped up since the last round-up.
The profits of malware mining
Researchers at the University of California, San Diego have bot analyzing malware-based bitcoin mining.
Their investigate involved looking at overheen Two,000 chunks of malicious software. While some strains target bitcoiners’ digital wallets, many corset the host rekentuig to undertake illicit mining activities.
The results? At least Ten of thesis malware mining enterprises have bot able to reap spil many spil Four,500 bitcoins. At today’s CoinDesk Bitcoin Price Index valuation, that would amount to overheen $Two.8m.
Researchers say this activity has occurred overheen the past two years.
Dell SecureWorks recently said that it has only bot able to identify 146 active strains of bitcoin malware, so perhaps the amount of bitcoin mining-related malware may be decreasing spil the difficulty increases, which leads us to .
Standard servers ‘a waste of time’ for BTC mining
Online backup company iDrive runs automated nightly backups for its customers. So, during the day, while its systems were idle, the company determined to conduct an proef.
iDrive set 600 of its quad-core servers to work to see how much bitcoin could be mined.
The results were conclusive: mining bitcoin with regular hardware is no longer profitable.
With the results of the test, iDrive calculated that running mining software on its 600 servers would earn approximately 0.43 bitcoin – vanaf year!
“It’s a waste of time, so any other company thinking about mining with their infrastructure, learn from us. Don’t do it. You need custom-made machines to effectively mine bitcoins and generate a real ROI.”
Altcoin mining may be leading to AMD card shortages
Both litecoin and dogecoin use scrypt spil proof of work, and suitable ASIC mining technology has not yet klapper the market.
Spil a result, AMD’s flagship Radeon R9 290X, which wasgoed designed spil a high-end graphics card, is being snapped up by miners looking to metselspecie ter on scrypt mining while they can.
An example of this trend is the DopaMINE hardware chassis, which is built for the specific purpose of loading up with a number of thesis cards and hashing away
The result of this alt-mining craze seems to be that the cards are ter very brief supply, says Sam Mattera at Idiot.com.
NewEgg shows up to have them ter stock, while Amazon sellers seem to only have them te limited supply. If you want to buy one, however, they will cost you an inflated $649 or more.
Nvidia takes on AMD ter the mining wedstrijd
It seems that AMD’s largest rival, Nvidia, is attempting to up its spel for scrypt-based mining via GPUs.
The company has just released a fresh technology it is calling Maxwell, which is aimed to contest with the Radeon R9 290X.
What Maxwell permits Nvidia to do is opoffering better vertoning, but at a lower price and with a lower energy output than AMD’s top-of-the-range suggesting. Nvidia’s GeForce GTX 750 Ti, for example, only costs $149.99.
Forbes reports that Nvidia is able to offerande thesis cards for so much less because it has better control of its supply chain.
Tom’s Hardware makes the case that four of the Nvidia cards should outperform the Radeon R9 290X, while still saving on violet wand
CoinTerra announces shipment of its 1,000th miner
Texas-based CoinTerra has announced that its 1,000th ASICs miner has departed the company’s Austin facility.
The company has bot ramping up production since the delays that previously plagued the company’s TerraMiner shipments.
CoinTerra stated ter its release:
“TerraMiners already account for overheen 1.7 petahash of bitcoin mining spectacle, which is more than 6% of the entire bitcoin network.”
The company is once again taking orders for its TerraMiner IV – a 2TH/s unit, priced at $Five,999 – that will ship June 2014.
Also due te June is the company’s water-cooled GSX I – a 400 GH/s card, costing $1,599. The GSX I can be daisy chained via USB using a PC host, and should go some way towards keeping small-scale miners ter business.
Tidbit pressure leads MIT to establish legal resource
Tidbit wasgoed a project initiated by a group of MIT students to corset the power of PCs to mine bitcoin.
The idea wasgoed that you place a snippet of code on your webstek, which can earn you bitcoin using your visitors’ processing power.
The Fresh Jersey Division of Consumer Affairs, however, issued a subpoena to one of Tidbit’s developers, and demanded that all of the project’s assets be passed overheen to law enforcement agencies.
An open letterteken wasgoed published by an MIT faculty member, imploring the university to defend the student ter question.
MIT’s Voorzitter L. Rafael Reif has now announced the formation of an independent legal resource spil a result of this case, with the project being to aid students ensnared te this sort of predicament bondage.
“I believe wij should provide our student inventors and entrepreneurs with a resource for independent legal advice, singularly dedicated to their interests and rights.”
Standard computing technology has pretty much bot rendered futile ter bitcoin hashing. However, Tidbit wasgoed working on an intriguing distributed-computing concept before the intervention by the Division of Consumer Affairs.
Alpha issues update on scrypt ASICs miner
Alpha Technology, a company based te Manchester, UK, has updated prospective customers on its progress ter bringing the Viper ASICs-based scrypt miner to market.
The company aims to be the very first with such a product, which is aimed at mining digital currencies other than bitcoin.
The unit’s knot has bot finalized at 40nm, the company stated, adding:
“Higher than advertised hashing power will also be provided to batch-1 customers.”
The company is presently taking 30% deposits for its initial line of Vipers. The device will be available ter either $9,000 25 MH/s at 500 watts (approx.), or $Two,250 Five MH/s unit at 100 watts (approx.) configurations.
Albeit others are rumoured to also be ter the wedloop to produce an ASICs miner for scrypt currencies, Alpha Technology shows up to be closest to the ending line.
HashFast upgrades miners amid complaints
ASICs miner manufacturer HashFast has announced that the company’s hardware is being upgraded.
Its next-generation Evo lineup, the company said, will opoffering more power, thanks to vormgeving improvements on the same 28nm chip that the company is already selling.
HashFast’s ‘batch-2’ Sierra Evo is available for $6,000 and hashes at around Two TH/s. The company said that for “added plasticity” the units will not ship with power supplies. The Sierra Evo is expected to ship te May 2014.
HashFast is also presently taking orders for its Yoli Evo boards, providing 800 GH/s, with a ondergrens order of Ten for $Nineteen,000.
The company says it will commence shipping its Evo products once it has fulfilled all previous proefje orders.
Many Hashfast customers are not blessed about this announcement. Notable bitcoin developer Gregory Maxwell voiced his concerns publicly on the Bitcointalk forum after failing to receive a miner he ordered. He said:
“I urge everyone to provide HashFast with no further business until they make right by their past customers.”
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