Search Results for: Riot Blockchain

“Hive Blockchain shifts its focus to artificial intelligence as Hive Digital Technologies, while remaining committed to Bitcoin and crypto mining. The company envisions AI and blockchain jointly promoting the development of Web3, potentially enhancing user privacy and data ownership.”

“Hive Blockchain, now known as Hive Digital Technologies, is refocusing towards AI, cloud computing revenues, and GPU mining. They plan to use Nvidia GPUs for cloud services, demonstrating a shift from traditional blockchain technology while not completely discarding it.”

Blockchain-based gaming is booming, with Last Remains, a triple-A Web3 multiplayer battle royale zombie game, raising $4.75 million from major crypto investors. A partnership with Cointelegraph Accelerator highlights its focus on high-quality gameplay and the expertise of its developers from top gaming companies.

“Digital asset miners are venturing into artificial intelligence, aiming to boost earnings and decrease dependency on conventional cryptocurrency operations. Notably, Bitcoin and Ethereum miners are driving this switch, while some miners continue mining other Proof-of-Work assets. Mining companies are rebranding to echo this trend, finding high-performance computing services for AI firms potentially more profitable than Bitcoin mining.”

“Bitcoin and Ether miners are branching into new business areas including high performance computing services for the artificial intelligence industry, seeking to diversify revenue and reduce crypto reliance. This follows the Ethereum blockchain Merge, leaving a surplus of GPUs on the secondary market, used for gaming, rendering services and mining other cryptocurrencies.”

Bitcoin miners Hut 8 Mining and U.S. Bitcoin Corp plan to merge, creating a $990 million North American crypto mining giant, Hut 8 Corp. The merger aims to expand revenue, adopt a diversified business model, and capitalize on their financial position.

“Cryptocurrency mining involves solving complex mathematical problems known as hashing. Currently, Texas leads in Bitcoin’s hash rate in the U.S. with 28.5%. Interestingly, the state’s regulatory framework and favorable energy prices make it ideal for crypto miners. Despite burgeoning operations, energy consumption, power curtailment, and regulatory policies shape the future of cryptocurrencies.”

“The state of Texas is now claiming a staggering 28.50% of the U.S. crypto-mining hashrate, up from 8.43% at the end of 2021. This rise, attributed to favorable conditions including negative pricing, comes at the expense of states like Georgia, previously a blockchain leader. Meanwhile, Texas’ mining growth draws in leading crypto entities keen on expansion.”

The objective of Krafton’s Web3 journey with blockchain project Settlus is to offer content creators a transparent payment platform. A potential metaverse project, Migaloo, allows creators to monetize their digital content through non-fungible tokens (NFTs). However, developers must strike a balance between engaging gameplay in the Web3 space and monetization to build a larger user base.

The Bitcoin community is revisiting BIP-300, a Bitcoin Improvement Proposal, that suggests using sidechains to allow BTC to move onto separate blockchains within the Bitcoin network. While some praise the proposal’s potential benefits, like choosing blockchain security models, others express concerns about inadvertently encouraging scams and drawing unwanted regulatory attention. This underscores a bigger question about the future of Bitcoin.

“Texas, a significant bitcoin mining hub, is experimenting with integrating mining into power grids. However, this move has been criticized for potentially prioritizing an environmentally harmful industry over local communities. On the other hand, supporters highlight the potential grid benefits and job opportunities, but concerns about sustainability and water usage persist.”

“In their strategy to attract Bitcoin miners, Texas utilizes a unique “duck curve” model illustrating energy supply and demand fluctuations. Texas’s adaptive system allows the price of energy to “float” throughout the day, creating a favourable environment for Bitcoin miners with an abundance of cheap renewable energy. However, regulatory and environmental concerns pose a challenge.”

Bitcoin miner Marathon Digital Holdings experienced a 77% spike in their Bitcoin mining production in May, attributed to its proprietary software, an increased hash rate, rising transaction fees, and the growing popularity of Ordinals protocol. However, maintaining a balanced perspective and managing expectations is advised.

A recent paper suggests that Bitcoin mining loads can help mitigate power shortages in Texas if managed correctly. The state faces concerns about the grid’s ability to handle mining activities. Financial incentives and location strategies can enhance grid-supporting capabilities and alleviate reliability concerns, while legislation and collaboration are needed for sustainable solutions.

Chia Network launched the Chia Open Digital Economy (CODE) framework, aiming to empower an open metaverse of games and applications with interoperable assets. Chia announced a proof-of-concept trading card game, ChiaTCG, embracing Chia NFTs and turning them into playable cards, showcasing the potential of NFTs within gaming.