Blockchain – The AltcoinBeacon

Stronghold banks $105Mn to use waste coal to power Bitcoin mining

Stronghold banks $105Mn to use waste coal to power Bitcoin mining

Stronghold Digital Mining, a digital asset miner focused on using sustainable energy, has announced a $105 million funding, advancing its aim for use clean energy to power cryptocurrency mining.

According to sources, the funds were raised through two private offerings of equity securities, with investors receiving registration rights that need a future public listing. MG Capital, certain family offices, and Greg Beard, the former senior partner at Apollo Global Management, were among the key investors.

Stronghold aims at converting waste coal, a byproduct of coal mining, into electricity that is used to mine bitcoin and other cryptocurr

Cryptocurrency retirement platform Bitcoin IRA launches a mobile app

Cryptocurrency retirement platform Bitcoin IRA launches a mobile app

The app is expected to offer a simple & secure method to invest in crypto assets using retirement accounts

Bitcoin IRA, the worlds first, largest, and most secured cryptocurrency retiring platform, has officially unveiled a mobile app, allowing users to easily buy, sell, and transfer crypto holdings within their self-directed retirement accounts.

Investors who are interested in the new software can download it on iOS and Android devices. With this app, traders can securely plan and monitor their accounts on the go, at any time from any location.

The main purpose of Bitcoin IRA is

China to slash Bitcoin mining capacity by 90% following local bans

China to slash Bitcoin mining capacity by 90% following local bans

After local authorities instructed a halt on Bitcoin mining amidst an intensified nationwide clampdown on the cryptocurrency, various Bitcoin mines in one of China's main cryptocurrency mining bases - Southwest China's Sichuan Province China, were closed recently.

Reports state that around 90% of China’s Bitcoin mining capacity can be shut down at least in the short term, as regulators are willing to take equally tough measures in important mining hubs like China's north and southwest regions.

On Friday, a joint notice by the Sichuan Provincial Development & Reform Commission and the Sichuan Energy Bureau, ordered

The World Bank reject’s El Salvador’s request for Bitcoin help

The World Bank reject’s El Salvador’s request for Bitcoin help

The World Bank has reportedly declined El Salvadors request for assistance with the adoption of bitcoin as a legal currency, saying that it could not support El Salvador's Bitcoin deployment owing to transparency concerns and the environmental impact of the Bitcoin mining process.

Earlier in June, the Central American country announced its intentions to become the world’s first country to legally embrace the crypto currency, wherein it intends to adopt Bitcoin as a legal currency in addition to its existing legal tender, the US dollar.

Its Congress voted in favor of a proposal made by President Nayib Bukele's to adopt Bitc

BlokForge buys Cryptouniverse to set foot in Europe crypto mining sector

BlokForge buys Cryptouniverse to set foot in Europe crypto mining sector

BlokForge- a US-based cryptocurrency mining equipment and accessories entity has reportedly announced the purchase of Cryptouniverse- a leading online mining distributor for Europe to help expand Bitcoin mining on a global scale.

This news favors the adoption of digital coins as China has announced that it will be preventing crypto mining within China. At present, the nation is responsible for over 65% of bitcoin mining globally.

Notably, the purchase will broaden BlokForge’s hold in the crypto mining sector. With complete control over Cryptouniverse’s platform, BlokForge is expected to monitor distribution across the Europe

Square injects $5Mn in Blockstream’s solar-led Bitcoin mining unit

Square injects $5Mn in Blockstream’s solar-led Bitcoin mining unit

The company is also seeking to develop an open hardware wallet for Bitcoin for its clients

San Francisco-based financial services firm- Square which is head by Twitter CEO- Jack Dorsey has reportedly invested USD 5 million in blockchain technology company- Blockstream Mining- to develop an open-sources, solar-backed Bitcoin mining unit.  

The announcement follows as the environmental impact of mining for one of the largest cryptocurrency (Bitcoin) has come under scrutiny, a development that has threatened certain institutional investors and contributed to the recent fall in bitcoin prices.  

Ontario’s Southdown Dental to accept crypto payment for services

Ontario’s Southdown Dental to accept crypto payment for services

Patients can now pay using digital currency for services ranging from basic checkup to children’s braces

Ontario-based dental clinic- Southdown Dental has reportedly included a new mode of payment option under which patients will be able to pay using cryptocurrency for any dental procedures, from regular checkups to children’s braces.

For the record, the clinic has added the crypto payment option to meet growing adoption of digital payments across various sectors. Cryptocurrency provides users autonomy, offers easy and quick payments, and reduces the cost of transactions.

VeriBlock to use Proof-of-Proof® security to secure Dogecoin using BTC

VeriBlock to use Proof-of-Proof® security to secure Dogecoin using BTC

VeriBlock - a not-for-profit foundation that focuses on the development of Proof-of-Proof® security technology has announced a new measure to secure Dogecoin, crypto created by two software engineers Billy Markus and Jackson Palmer, through Bitcoin.  

At present, developers at VeriBlock are working on combining Proof-of-Proof into the codebase of Dogecoin along with planning to present an open-source beta to the Dogecoin community for testing and feedback.   

In addition to the above, the team is planning to carry out a 51% attack on the PoP-led variant of Dogecoin to demonstrate how technology protects blockchains fr

Huobi suspends crypto miner hosting in China, halts services in few regions

Huobi suspends crypto miner hosting in China, halts services in few regions

Huobi- a Seychelles-based cryptocurrency exchange platform has announced the suspension of some of its products and services in certain nations and has also halted its miner hosting services in China owing to the recent crackdown on cryptocurrency in the nation.

Reportedly, news of the exchange’s pullback which comprises of the suspension of certain future contract trading, exchange-traded products, leveraged investment products, and miner hosting services across China, is one of the primary factors behind the recent fall in the crypto market.

Citing sources, the value of bitcoin fell to as low as USD 32,727.31 while Ether was dow