At $400 Million a Year, Researcher Argues Bitcoin Mining is Worth the Cost
The University College London’s blockchain research center has found that bitcoin's current proof-of-work (PoW) mining costs are necessary to maintain the network's trustless and decentralized nature. In a recent research note, Tomaso Aste, a professor of complexity sciences and director of the UCL's Centre for Blockchain Technologies, offers a rough measure for calculating the "equilibrium fair cost" of bitcoin’s PoW system, suggesting that this fair cost per block is roughly $10,000 – less than the current amount earned by discovering a block today. The findings are notable....
Related News
A National Science Foundation (NSF) researcher has been barred from working with the US government following the discovery that he used federally funded supercomputers to mine bitcoin without authorization. The administrative action was revealed as part of the latest NSF Office of Inspector General (OIG) report issued to Congress and recently posted online. The unnamed researcher is alleged to have used more than $150,000 in NSF-supported computer activity to generate an estimated $8,000 to $10,000 in BTC. The researcher asserted that he was simply conducting tests on the supercomputers,....
Researcher Vivek Raman said that after the Merge, ETH inflation will be lower, security will be better and ETH will position itself as a digital bond. As Ethereum shifts into proof-of-stake (PoS), a decentralized finance (DeFi) researcher has argued that the platform can overtake Bitcoin's (BTC) throne as the top dog in crypto. In a Twitter thread, researcher Vivek Raman highlighted that the upcoming Ethereum Merge could create a better economic structure for the smart contract platform. According to Raman, the shift into PoS lowers Ether (ETH) inflation, gives better security and....
Russian law enforcement is looking into the alleged theft of mining hardware valued at around $1.9 million. The powerful computing equipment disappeared from a crypto mining hotel in Irkutsk, the owners of which have been accused of large scale fraud. 100 Russians Lose Mining Machines Worth 100 Million Rubles Police in the Russian Irkutsk Oblast have launched an investigation of the operators of a mining hosting facility suspected of defrauding clients and stealing their expensive coin minting hardware, Tass news agency reported, quoting the region’s Main Directorate of the Interior....
France faces a familiar problem: it often makes more electricity than it can sell. According to energy researcher Raphaël Bloch, the country wasted about € 80 million worth of power in 2024. Now, a group of lawmakers wants to put that extra juice to work. They’ve filed Amendment No. 547 with the National Assembly to fold Bitcoin […]
A U.S. firm expects to double its Bitcoin hashing power after the purchase of 4,800 new S19J mining rigs from Bitmain. Pennsylvania software firm Integrated Ventures has announced the purchase of 4,800 Bitcoin (BTC) mining rigs from Chinese manufacturer Bitmain. The deal is worth just over $34 million and will see 400 of Bitmain’s Antminer model S19J’s delivered to Integrated Ventures each month for the next year.Integrated Ventures partnered with Wattum Management — a mining solutions provider — to carry out the deal, with Wattum expected to help host and manage INTV’s mining operations.....