Lower Power Costs Becoming Essential Component for Profitability of Digital Mining Operations 21255

The rise in popularity of digital mining and the underlying blockchain technology presents both challenges and opportunities to the energy sector. Cryptocurrency mining is a difficult and costly activity. Miners must pay to build ever increasing bigger rigs capable of vast amounts of processing power, and then the rigs themselves must be powered with large quantities of electricity.

Companies with the access to electricity resources have a huge ‘leg-up” on their competition… so the race to acquire sources of inexpensive electricity can be a life-or-death situation for the mining facility. Many installations actually decide where to build their facilities based largely on the local availability of energy production facilities. As a result, the largest mining operations are springing up in parts of the world with cheap electricity, like China. In 2018, the state of Washington, by some estimates, hosted 15%- 30% of all Bitcoin mining operations globally due to availability of less expensive power sources. The cost matters! Profitability in a large part, relies upon how much their electricity costs… and IF they can even get all that they need.

An article in The Economist said: “BITCOIN has been alarming people for years because of the amount of electricity needed to mint new virtual coinage. Alex de Vries, a bitcoin specialist at PwC, (estimated) that (in 2018) the… global power consumption for the servers that run bitcoin’s software is a minimum of 2.55 gigawatts (GW), which amounts to energy consumption of 22 terawatt-hours (TWh) per year—almost the same as Ireland. Google, by comparison, used 5.7 TWh worldwide in 2015. What’s more, bitcoin “miners” consume about five times more power than they did last year, and orders of magnitude more than just a few years ago—and there are no signs of a slowdown.

An article in VOX added: “As the value of the digital currency has climbed, so has the amount of energy needed to keep this online economy running, which… exceeds the energy use of (over) 159 individual countries…”. All indicators seem to project that it will continue to grow in the years to come.

“We are very pleased to be working with an experienced, professional group such as Block One Technologies,” said Stephen Jenkins, President & CEO of Link. “This partnership allows Block One to access our existing power assets in order to conduct its digital mining operations more cost effectively, while also allowing us to expand our current business operations. While this is the first formal agreement between Block One and Link, the companies intend to pursue future agreements that will play an important role in Link’s growth strategy.”

Bijan Alizadeh, Founder & Chairman of Block One, commented: “By working with Link, Block One can take advantage of the competitive energy prices Link offers, while continuing to expand our digital currency mining operations. We have deep expertise in the digital mining space and partnering with Link on power supply makes a lot of sense for us and our clients.”

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MEG Announces Purchase Agreement for 2,000 Units of D1, BYD’s Custom Electric Ride-hailing Vehicle 6831

Ideanomics (NASDAQ: IDEX) (“Ideanomics” or the “Company”) announces that its Mobile Energy Global (“MEG”) and its contracting entity Qingdao Chengyang Medici have signed an agreement with Meihao Chuxing, a joint venture between BYD and Didi, to purchase an initial 2,000 units of model BYD D1. The ride-hailing vehicles are intended for deployment in multiple cities within China, with deliveries expected to begin in H1 2021.

“The D1 is a very thoughtfully designed ride-hailing EV and is a culmination of the latest design and technology to bring drivers and their customers an enjoyable travel experience. We are very pleased to work with Meihao Chuxing and BYD to promote the sales of the D1,” said Alf Poor, Ideanomics CEO. “Supported by a viable government subsidy program, the proliferation of EVs in China is a testament to the value that public and private partnerships can bring to large scale global challenges. We look forward to developing these types of partnerships and the rollout of more innovative vehicles like the D1 to our taxi and ride-hailing customers.”

Meihao Chuxing (Hangzhou) Automobile Technology Co., Ltd. was established in 2019, though a 65/35 joint venture between BYD and Didi with BYD having controlling interest. Launched in November 2020, model BYD D1 was jointly developed by BYD and Didi as the world’s first custom-built, all electric car for ride-hailing. The vehicles feature L2 Assisted Driving system, are linked with a fleet management system that helps large fleet operators track and optimize operational status, real-time energy management, as well as a myriad of other safety and comfort features. BYD D1 is equipped with its latest Blade Battery (LFP chemistry) with a range of 418 km (260 miles) and can reach top speeds of 130 km/h (81 mph). Didi Chuxing is deploying and promoting the ride-hailing service in a number of Chinese cities. Passengers can order the customized ride-sharing service via the Didi app.

Future FinTech Enters Into Indonesia Market, and Signs Share Exchange Agreement to Acquire Asiasens Investment Holding Pte. Ltd. 9033

Future FinTech Group Inc. (NASDAQ: FTFT) (“Future FinTech”, “FTFT” or “the Company”), a leading blockchain based e-commerce company and a service provider for financial technology, announced today that it has entered into an Share Exchange Agreement (the “Agreement”) with Asen Maneuvre Group Limited, a limited company organized under the laws of British Virgin Islands (the “Seller”) to acquire 70.59% of the equity interest of Asiasens Investment Holding Pte. Ltd., a company incorporated under the laws of Singapore (“Asiasens”).

Asiasens owns 85% equity interest of PT. Sens Tekonlogi Indonesia, an Indonesian company (“STI”) which holds a Financial Service Authority (Otoritas Jasa Keuangan “OJK”) license in Indonesia, and it also controls PT Permata Techno Indonesia, an Indonesian company (“PTI”) through variable interest entity (“VIE”) structure but will change it to 100% equity ownership of PTI before the closing of this transaction. PTI engages e-commerce business in Indonesia.

Pursuant to the Agreement, the Company, through its wholly owned subsidiary Future FinTech (Hong Kong) Limited is acquiring 70.59% of the equity interest of Asiasens by using 2,160,000 shares of common stock of the Company ( the “Company Shares”). The Company Shares will be issued according to the achievement of certain Earnings Before Interest and Taxes (“EBIT”) goals by Asiasens in 2021 and 2022.

More complete information of the terms of the Agreement is set forth in the Form 8-K and its exhibit filed with the Securities and Exchange Commission on December 18, 2020.

Mr. Shanchun Huang, Chief Executive Officer of the Company, commented: “Asiasens team has extensive experience in financial technology and business development in Indonesia and we are excited to be able to enter into consumer financial and e-commerce business in Indonesia through this acquisition. Asisens has established close cooperative relationships with major e-commerce companies in Indonesia. With a population of 260 million in Indonesia, we believe the acquisition of Asiasens is a key step for our business development in Indonesia and Southeast Asia markets.”

Mr. Xujun Ji, Chairman of Asiasens, said: “Relying on mobile Internet, big data and intelligent cloud computing, Asiasens has forged its core competitiveness in terms of customer acquisition, operation, and funding channels, making its products and services have a good user experience and very high user stickiness. The share exchange agreement with FTFT will definitely bring Asiasens to a higher level in terms of business and philosophy. I believe that the challenger banking and payment fields which FTFT is developing will form a cooperation advantage with our consumer finance business. We will continue to enrich product features to bring users better and more comprehensive financial services experience.”

How One Crypto Player’s Winnings have Reached $275k at CryptoSlots in Two Years 13355

CryptoSlots

Ever wonder if players really do get lucky from crypto casinos? Maybe not all, but we found one CryptoSlots casino player whose winnings have added up to a substantial $275k in wins in just two years of playing ($276,200 to be exact). David C is from California, and wisely started investing in Bitcoin in 2016 – in 2018 he decided to play at Bitcoin casinos with some of his savings, and the rest is history. Read our interview with him below.

Bonus code COINAD100 is valid for 100% match on deposits $25 – $500 until Dec 31st, 2020.

Do you have a strategy?
I only put in what I got out of crypto investing, I don’t play for hours on end – you have to be smart. I won a few thousand on the Jackpot game early on, got a huge win on Olympus High Limit version at one point. With bigger wins I like that I always set the money aside. Quit when you’re ahead.

But a lot of it as learning how the games work. I count the medium wins rather than hold out for bigger ones. And, at CryptoSlots, save up Jackpot Tokens and then play Jackpot Trigger for longer all in one go.

Have you always played online? 
I’ve played slots online a lot before – only been to two actual casinos in my life to be honest with you. You have more control over what you’re doing when you’re online.

What do you like about playing with Bitcoin?
When playing at btc casinos, I don’t have to get my bank involved or wait for payments to come through – I know exactly where my money is at all times.

Last but not least, what do you spend your winnings on?
Well some of it goes back into playing, some I keep in crypto, some I spend. Last year we did a trip around Asia. We went jungle trekking in Malaysia, I got my diving certificate in Indonesia, stayed a few days in Singapore. It was out of this world, such a vacation. We were planning on heading to Norway this winter to see the Northern Lights but, unfortunately, that will have to wait thanks to this coronavirus.

When asked about his favorites among Cryptoslots’ Provably Fair casino games, David said he largely alternates between the slots to diversify his crypto bets. So we took a look at his top ten games over the last six months and analyzed his payback ratio on each:

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Interestingly, the High Limit games seem at a glance to be most volatile – offering the lowest payback ratio (Vegas Vibes High Limit at 72.5%) and the highest (Blazing Wilds High Limit at 179.1%). His standard video slot play produced more reliable wins but less chance of huge paybacks (e.g. Coin Rush at 105.8% and Vegas Twin at 99%).

Of course, it all depends on how much is bet and for how long the game is played. David bet the least on both Jacks or Better and Pyramid Plunder High Limit – maybe his inclinations warned him that luck was lurking elsewhere, maybe he quit too soon and longer gameplay would have increased his payback ratio! A significant win can make the world of difference.

We always ask our players if they believe in luck, and just like David, most of them tell us it depends on the day. For now, it seems his strategies are literally paying off.

If you’re fan of bitcoin casino games, check out Cryptoslots and take advantage of the 100% match using bonus code OURBTCNOV now.

CoinAd.media has Launched Marketplace for Ad Crypto Services 13205

CoinAd.media has launched a crypto service Marketplace that provides solutions for any advertising and marketing tasks; focused on the cryptocurrency and blockchain market niches. Typical challenges and problems shall be eliminated instantly by connecting publishers and advertisers in the industry on a common platform designed to meet their needs.

Being in the market for three years we at CoinAd.media have studied requirements of the advertisers well enough, that is why we have collected in our Marketplace the most popular and requested crypto services.

For example, right now you can buy the News Distribution to Crypto Websites service with one click and select the site where you want to publish your PR story, news, article, press release or review. Immediately after payment, your PR story gets to the publisher, who will instantly publish it on its website.

The Marketplace offers you many discount packages for banner advertising at CoinAD.media. These discount packages will save your money in the present challenging time for business.

CoinAD.media – Crypto Advertising Network. Trusted by more than 170+ crypto related websites. Audience 100% Crypto! Create your ads using our advertising platform and generate top quality leads to your websites from our enormous publisher network.

Various options of Banner Discount Packages + News Distribution to Crypto Websites are also available in the marketplace which provides the opportunity to buy banners and publications on the web sites at a good and attractive price.

The marketplace of CoinAD.media accepts payments in EUR, USD, USDT, BTC, ETH, XRP, LTC as well as any Bank or Credit Cards. In cooperation with CoinPayments we provide immediate prompt receipt of payments in cryptocurrencies with one click within a couple of minutes.

Save your money with the CoinAd.media Marketplace, get convenient and good advertising service with one click in your browser or mobile phone. We’ll take care of the rest.

Bit Digital Bitcoin Mining Company Releases the First Half 2020 Financial Results Announcing Over $10 Million Worth of Bitcoins Earned 15883

Bit Digital, Inc. (Nasdaq: BTBT), the Nasdaq listed Bitcoin mining company headquartered in New York, released the first half 2020 financial results report at 9:00 EST on October 19, 2020. The report showed the Company has earned 949.51 bitcoins since its principal business shifted to bitcoin mining in February 2020.

Highlights from the first half 2020 financial results include as follows:

1) Bit Digital (NASDAQ: BTBT) has reached 1250 PH/s of bitcoin hash rate capacity and ranked one of the largest Nasdaq listed bitcoin mining company in terms of the computer power.

2) Bit Digital launched its bitcoin mining operation in February 2020. As of the date of the report, 22,869 miners have generated an aggregate of 949.51 bitcoins, approximately $10.08 million.

3) Bit Digital’s bitcoin mining business rapidly expanded. As of June 30, 2020, the bitcoin mining business has generated over $690,000 in revenue.

4) Bit Digital disposed of its peer-to-peer lending business and car rental operations in PRC.

The full first half 2020 financial results report is available on https://bit-digital.com/financial-information and showed that after the shift of the main business of Bit Digital’s (NASDAQ: BTBT) to bitcoin mining, the Company swiftly accumulated computing power while rapidly expanded operations and miners. Erke Huang, the Chief Financial Officer of the Company, said, “The bitcoin mining industry is becoming a sought for alternative asset allocation, and we’re looking forward to making bitcoin mining business more accessible to the public and investors.”

PayPal Launches New Service Enabling Users to Buy, Hold and Sell Cryptocurrency 17960

The migration toward digital payments and digital representations of value continues to accelerate, driven by the COVID-19 pandemic and the increased interest in digital currencies from central banks and consumers. PayPal Holdings, Inc. (NASDAQ: PYPL) today announced the launch of a new service enabling its customers to buy, hold and sell cryptocurrency directly from their PayPal account, and signaled its plans to significantly increase cryptocurrency’s utility by making it available as a funding source for purchases at its 26 million merchants worldwide.

Mainstream adoption of cryptocurrencies has traditionally been hindered by their limited utility as an instrument of exchange due to volatility, cost and speed to transact. However, the promise of advanced technological platforms offers the possibility of mainstreaming digital currencies. According to a survey by the Bank for International Settlements, one in 10 central banks – representing approximately one-fifth of the world’s population – expect to issue their own digital currencies within the next three years.

“The shift to digital forms of currencies is inevitable, bringing with it clear advantages in terms of financial inclusion and access; efficiency, speed and resilience of the payments system; and the ability for governments to disburse funds to citizens quickly,” said Dan Schulman, president and CEO, PayPal. “Our global reach, digital payments expertise, two-sided network, and rigorous security and compliance controls provide us with the opportunity, and the responsibility, to help facilitate the understanding, redemption and interoperability of these new instruments of exchange. We are eager to work with central banks and regulators around the world to offer our support, and to meaningfully contribute to shaping the role that digital currencies will play in the future of global finance and commerce.”

Building Understanding and Adoption of Cryptocurrency

To increase consumer understanding and adoption of cryptocurrency, the company is introducing the ability to buy, hold and sell select cryptocurrencies, initially featuring Bitcoin, Ethereum, Bitcoin Cash and Litecoin, directly within the PayPal digital wallet. The service will be available to PayPal accountholders in the U.S. in the coming weeks. The company plans to expand the features to Venmo and select international markets in the first half of 2021. The service is enabled in the U.S. through a partnership with Paxos Trust Company, a regulated provider of cryptocurrency products and services.

PayPal has also been granted a first-of-its-kind conditional Bitlicense by the New York State Department of Financial Services (NYDFS).

“NYDFS’ approval today follows our June 2020 announcement for a new framework for a conditional Bitlicense to encourage, promote, and assist interested institutions to have a well-regulated way to access the New York virtual currency marketplace in a way that is both timely and protective of New York consumers, through partnerships with New York authorized virtual currency firms,” said Linda A. Lacewell, superintendent, NYDFS. “NYDFS will continue to encourage and support financial service providers to operate, grow, remain and expand in New York and work with innovators to enable them to germinate and test their ideas, for a dynamic and forward looking financial services sector, especially as we work to build New York back better in the midst of this pandemic.”

As part of this offering, PayPal will provide accountholders with educational content to help them understand the cryptocurrency ecosystem, the risks and opportunities related to investing in cryptocurrency, and information on blockchain technology. There are no service fees when buying or selling cryptocurrency through December 31, 2020, and there are no fees for holding cryptocurrency in a PayPal account.