Web browser crypto mining news

A once-dormant power plant is humming with activity outside Pittsburgh as thousands of miners work 24 hours a day. The first to solve the equation is rewarded with the digital financial token known as bitcoin. But the large amount of power needed to run these computers has re-ignited a debate in Pennsylvania and around the country about the potential climate consequences of cryptocurrency. Bitcoin is a type of digital money not regulated by any company or government.

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Content:

• How to check if the computer is mining cryptocurrencies?
• Will The Texas Electric Grid Be Able To Handle State’s Bitcoin Mining Rush?
• Cryptocurrency Mining Websites Attract 500 Million Monthly Visitors, According to Report
• Sites Are Using Your Browser to Mine Crypto. It Could Be a Good Thing
• Opera Blocks In-Browser CryptoCurrency Mining in New Mobile Browser Versions
• ‘Green Bitcoin Mining’: The Big Profits In Clean Crypto
• Cryptocurrency mining makes use of former paper mill
• Browser Cryptocurrency Mining
• Not just the phone browser, your TV and smart fridge might be mining bitcoin for criminals too

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How to check if the computer is mining cryptocurrencies?

Off a rural two-lane road in Rockdale, Texas, sits the largest cryptocurrency mining operation in North America. The acre Whinstone facility is made up of rows of buildings the length of nearly three football fields.

Inside are more than , computer servers mining for Bitcoin. Harris began building the massive facility miles south of Dallas less than two years ago and is currently building four new buildings that will more than double its mining capacity. Whinstone is just one of several companies that have recently built large cryptocurrency mining facilities in rural Texas — leading some to dub the Lone Star State as the new Bitcoin mining capitol of the world.

The way mining works is whenever someone buys or sells a Bitcoin, a new unique digital coin needs to be made. The computer that does it first produces the new Bitcoin and then is rewarded with Bitcoins for themselves. While Harris noted the local workforce and state tax incentives among his reasons for choosing to build his facility in Texas, he said the key to any large cryptocurrency mining operation is having enough electricity for all the high-powered computers.

When in full operation, the Whinstone facility uses the same amount of electricity as , homes. The electricity it takes to produce a single Bitcoin is equivalent to amount used to power an average Texas home for 62 days.

Magnuson, the author of Blockchain Democracy and a cryptocurrency legal expert, said Bitcoin miners are always looking for cheap electricity. Which is why when China recently cracked down on all cryptocurrency activity, many Bitcoin miners rushed to Texas. Less than a mile down the street from Whinstone facility outside Rockdale is another new Bitcoin mining facility, Bitdeer. Other mining operations have also recently relocated to Texas or are making plans to build facilities often outside rural communities in central and west Texas.

This month the Texas Blockchain Council, an associated with more than 70 cryptocurrency industry members, hosted the largest ever state-wide blockchain summit in Austin.

However, while many are pushing Texas to be a leader in the industry, Magnuson said he believes Texas is not ready for this rapid growth. Now adding onto the grid are several new Bitcoin mining facilities — some highest energy consumption companies in the world. But instead of slowing down the rush, this past session, Texas lawmakers passed several bills enticing more cryptocurrency miners to come to the state.

By using power when no one else needs it, then powering down when electricity demand is high, lawmakers said large cryptocurrency mining facilities can provide stability to the grid. In many cases, Bitcoin miners can make money when turning their power off by selling their electricity back to the grid when demand is high. Profitability is very important, but it also parallels with being a good corporate citizen. While Whinstone promises to power down when needed, there are no guarantees that every Bitcoin miner in the state will do the same.

The state senator said one of the bills she authored created a working group to studying ways to best regulate the cryptocurrency industry. But while the nature of government is to move slow, the nature of technology moves fast and Bitcoin mining in Texas is in a rush. DFW Weather. Gorgeous, Warmer Weekend Ahead There are big changes next week as the temps are set to take a big dip.

Whinstone facility CBS More from Brian New.

Will The Texas Electric Grid Be Able To Handle State’s Bitcoin Mining Rush?

When Denis Rusinovich set up cryptocurrency mining company Maveric Group in Kazakhstan in , he thought he had hit the jackpot. Next door to China and Russia, the country had everything a Bitcoin miner could ask for: a cold climate, legions of old warehouses and factories where the mining rigs could be installed, and—especially—dirt cheap energy to power the electricity-guzzling process through which cryptocurrency is minted. Less than a year later, the initial buzz is history: Miners are now being confronted with frozen machines, popular unrest, and Russian troops roaming across the country. And leaving is not an option.

Cryptocurrency Mining Websites Attract 500 Million Monthly Visitors, According to Report

China's ban on cryptocurrency mining has forced bitcoin entrepreneurs to flee overseas. Many are heading to Texas, which is quickly becoming the next global cryptocurrency capital. When China announced a crackdown on bitcoin mining and trading in May, Kevin Pan, CEO of Chinese cryptocurrency mining company Poolin, got on a flight the next day to leave the country. Headquartered in Hong Kong, Poolin is the second largest bitcoin mining network in the world, with most of its operations in mainland China. Now China's "bitcoin refugees" are urgently scrambling to find a new home, whether in neighbouring Kazakhstan, Russia or North America, because for bitcoin miners, time is literally money. In what some call the "Great Mining Migration," the Poolin executives are among the many bitcoin miners who have recently landed in a place reputed as part of America's wild wild west: Austin, Texas. Bitcoins are a digital currency with no physical form - they exist and are exchanged only online.

Sites Are Using Your Browser to Mine Crypto. It Could Be a Good Thing

It could be mining bitcoin for criminals. In virtual currency mining, computers are used to make the complex calculations that verify a running ledger of all the transactions in virtual currencies around the world. Crypto-jacking is not done only by installing malicious software. It can also be done through a web browser.

Opera Blocks In-Browser CryptoCurrency Mining in New Mobile Browser Versions

Downpours transform the mottled landscape into lush emerald, while azaleas bloom and migrating cranes and storks begin the long journey back north. The rainfall also brings trucks stacked with computers to hydropower dams, where entrepreneurs can tap cheap electricity for mining bitcoin—the arcane process that accumulates the cryptocurrency using huge amounts of computing power to solve equations. Cryptocurrency mining requires huge amounts of computing power, making energy consumption a major overhead for the industry. Local governments will often offer power for pennies—or even free—to attract jobs and get a painless boost to their gross domestic product figures. While individual miners and traders may be able to slip through the cracks, larger commercial miners will likely be considering alternative mining hubs with less rigorous regulatory regimes, analysts say. Last week, a number of companies involved in cryptocurrency mining began halting operations in China.

‘Green Bitcoin Mining’: The Big Profits In Clean Crypto

Beware of websites with cryptominer embedded as it could impact your computer speed while you lend your CPU resources to help mine cryptocurrency. You may have noticed that certain websites put significant load on your CPU and slow it down. Aside from the possibility that you may not have the best hardware, the slowdown could be due to a JavaScript miner embedded in the website. Instead of getting bombarded with annoying ads, you may now be getting an ad-free experience while unknowingly lending your computing resources to help mine cryptocurrency—in this case Monero, a privacy-focused alternative to the ever-popular Bitcoin. Today, any webmaster can sign up for new services such as Coinhive or JSEcoin and start profiting from your visits. For the past several days, Avast has detected Coinhive miner. As one of the top 10 detections, it should come as no surprise that many well-known and legit websites use this type of monetization.

Cryptocurrency mining makes use of former paper mill

Cloud-native visibility, detection, and response for the hybrid enterprise. Find white papers, reports, datasheets, and more by exploring our full resource archive. Cryptomining malware, or 'cryptojacking,' is a malware attack that co-opts the target's computing resources in order to mine cryptocurrencies like bitcoin. This malware uses a systems CPU and sometimes GPU to perform complex mathematical calculations that result in long alphanumeric strings called hashes.

Browser Cryptocurrency Mining

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There are many websites that use the hardware on your phones and computers to mine cryptocurrency, which in turn could be very harmful for your devices. The worst part here is that there's no easy way to find out which website is harmful and which one is not, since many of them don't inform you that they use your device to mine cryptocurrency. Instead, all it requires is a few lines of code in Javascript that runs in the background while you browse the Web and then you could witness slow speeds on your system, reduced battery life and a significant damage to the overall life of the components. Don't worry though, we have got you covered.

Not just the phone browser, your TV and smart fridge might be mining bitcoin for criminals too

Tehran, Iran — Iran has banned all cryptocurrency mining for the next four months as widespread power outages stir public dissatisfaction across the country. President Hassan Rouhani said on Wednesday that all crypto mining operations in Iran — including legal ones — must shut down until the end of the sixth Iranian calendar month on September The practice can be highly lucrative. But in Iran and other countries, the impact on power grids and the carbon footprint of Bitcoin mining, in particular, has elicited a strong backlash. The reason he gave for the U-turn was climate concerns. Rouhani said legal crypto mining operations in Iran consume about MW of electricity, which is very insignificant.

Bitcoin mining likely uses more energy than it takes to keep New Zealand's lights on. Keep up to date with the latest coronavirus news via our live blog. Follow our live blog. The recent upsurge in the price of Bitcoin seems to have finally awakened the world to the massively destructive environmental consequences of this bubble.