Genesis Mining, responding to falling bitcoin mining rewards for its customers, is offering a discount to help customers withstand the current downturn, the company announced in a blog. The company has recognized customers were not receiving expected rewards and is offering a chance to upgrade their mining contracts to Radiant contract terms with a premium discount. The declining price of bitcoin...
The hashrate of the Bitcoin network, which represents the amount of computing power securing the blockchain, has continued to increase despite the 70 percent decline of BTC since January of this year. David Sapper, chief operating officer at Australia-based cryptocurrency exchange Blockbid, said in an interview with Bloomberg that the continuous rise in the hashrate of Bitcoin demonstrates the...
Genesis Mining, a provider of managed cloud mining, announced that it is resuming operations in the United States after South Carolina regulators withdrew a cease and desist order against the firm. Contracts serving U.S. residents have been disabled for five months up until now. SC Regulators Revoke Cease & Desist Order The cease and desist originated from the South Carolina Securities...
Genesis Mining's bitcoin advocacy campaign has posted billboards outside of Warren Buffet’s office to remind him that he was wrong about Google and Amazon and warn him he may be wrong about bitcoin, too. The billboards went up shortly after Buffet dissed bitcoin during a Berkshire Hathaway annual shareholders’ meeting. Some new billboards outside of Warren Buffetts office! :) #GenesisMining...
One of Donald Trump’s many campaign promises if he is elected President of the United States is a tall wall along the Mexico-U.S. border. Mexico is footing the bill, if it were up to the Donald. Refuse and Trump will put the brakes on the $24 billion remittance flow from U.S. to Mexico, his plan shows. The legality and feasibility of such measures aside, the plan is simple enough, with one...
Genesis Mining, which provides computer equipment to create bitcoins in the cloud, has launched the world's first fund that invests in hardware used to create the digital currency, according to Reuters. The company said it registered the fund, called the Logos Fund, with the Securities and Exchange Commission and will invest $ 1 million in it. The fund will issue "pooled investment fund...
The biggest topic in Bitcoin over the last month has been what to do with the size of blocks within the block chain. Mike Hearn and Gavin Andresen have been vocal and influential proponents of a size from 1 MB o 20 MB blocks to ease the growth of Bitcoin as a global currency. At this current 1 MB rate, they say the network will enter a logjam situation within the next year, and this is the...
Marco Streng, the CEO of cloud mining operator Genesis Mining, has reaffirmed his company's long-term commitment to the industry in an interview with CryptoCoinsNews. Striking a positive note on the future of an industry which has been in turmoil over recent months, Streng claims that his company is currently in a “favourable position”. They could keep operating even if the price of btc were to...