Bitfarms, one of the largest publicly traded Bitcoin mining operations in the world, has planned to purchase 48,000 new miners over the next two years. It has been reported that the Canadian mining company has sourced the equipment from Chinese supplier MicroBT in a bid to increase its hashing capacity by another 5 EH (exahashes). However, Bitfarms was founded in 2017 and currently has a capacity of 1 EH. It has targeted a 200% increase by the end of 2021. The report said tha

Proof of Work (PoW) and Proof of Stake (PoS) are the models that are called ‘consensus mechanisms’, which are a current requirement to confirm transactions that take place on a blockchain, without the need for a third party. There are currently discussions about Ethereum switching from Proof of Work to Proof of Stake. This change could affect the overall market related to crypto mining. This is an important risk factor that people, as an investor, should know. So, before we d

Iran’s Ministry of Industry, Mine and Trade permitted a license for iMiner, a cryptocurrency mining company, to operate in the country, as with 6,000 rigs, iMiner’s setup would purportedly make it one of the largest crypto miners in Iran. On April 29, it has been reported in an article that the company has invested nearly $7.3 million into a Bitcoin (BTC) mining farm in the Semnan Province of Iran, where it will mine the digital currency with 6,000 rigs capable of 96,000 tera