There are many interesting crypto mining news highlights in 2019 so far. Despite the bear market, much has been happening. These developments range from mining difficulty to market developments. In this post we’ll explore some of the most exciting developments.
Crypto Mining News: Mozilla to Add Cryptomining Blocker to Firefox
Mozilla is an open-source software foundation that manages a suite of open source products. Crypto mining on a person’s PC without their knowing has seen a surge in recent years. This practice is known as cryptojacking. Typically, a bad actor hijacks someone’s browser or computer to mine cryptocurrencies. This takes a toll on the person’s computer, as it uses their resources to mine. These practices essentially steal computer resources for profit. Mozilla has recognized the need to curb this behaviour. Through a string of recent bug updates, Mozilla have hinted their intention to take action against these actors. This includes blocking crypto miners from their platform. Users will have the choice to enable blocking cryptominers. Eventually, it’s expected that this feature will be a standard feature. This development shows a clear stand against illegitimate crypto mining activity. This adds legitimacy to proper crypto miners, who mine using their own equipment and power.
Security research conducted in 2019 showed that 37 percent of organizations globally were impacted by cryptominers in 2018. According to a security vendor Check Point, only one in five IT security professionals were aware of this malware. This indicates that a large amount of illegal mining occurred without the knowledge of security professionals. According to research, 20% of companies continue to be hit every week. Despite this huge problem, many professionals do not perceive illegitimate mining as a threat. Usual threats such as DDoS, data breaches, ransomware and phishing are perceived as the biggest threats. Illegal crypto mining has been revealed as a less well perceived threat. Mozilla’s first approach into preventing miners infecting users of its browser represents a step to prevent illegitimate mining.
Crypto Mining News: Bitcoin Mining Difficulty Increases 4.25% in February
Crypto mining difficulty has increased on all but one occasion in 2019. In February, the most recent boost in difficulty has been 4.25%. This is a stark reversal from the consistent drops in mining difficulty in late 2018. The 4.25% increase is the third strongest of the year so far. This shows that Bitcoin is still actively mined across the world. Most likely, the miners powering the network are those that can afford to. This means an abundant supply of cheap power and large scale operations. One such example of a Bitcoin mine will be in Paraguay. Despite the bear market, Bitcoin mining has no signs of slowing down.
Crypto Mining News: Crypto Hardware Giant NVIDIA Reports Decreasing Q4 Revenue
The crypto bear market has been worrying for hardware giant NVIDIA. As seen previously, they are being sued for allegedly misleading investors. Following from this, NVIDIA have forecaseted lower revenues than expected for 2019. NVIDIA specializes in hardware for the gaming and cryptocurrency industries. These are GPUs that provide high quality gaming performance and crypto mining. As demand in crypto mining tools decreased, so did the company’s share price. This share price was hit massively in the tail end of 2018. The closing up of crypto related mines across the world has badly hit company finances. Due to a number of market conditions, the forecast is low for revenue in Q4 2019.
This drop in revenue has been reported from other hardware manufacturers in 2019 also. One such company is chip manufacturer Taiwan Semiconductor Manufacturing (TSMC). The company’s Q4 results, published in January, revealed a large drop in crpyo mining related revenue. According to the CEO and Vice Chairman, the drop was almost “double digit”. The company is responsible for manufacturing Application-Specific Integrated Circuit (ASIC) chips. One of the main suppliers that the company sells to is Chinese crypto mining firm Bitmain. Unfortunately for both companies, mining has become steadily less profitable during the bear market. Bitmain in particular was required to close operations in Israel in 2018 due to cutbacks. It also reportedly paused mining in Texas. The CEO and Vice Chairman announced that the chip producing company (TMSC) would, “become conservative in forecasting this volatile business.” There are many similarities between both TMSC and NVIDIA. Both companies produce hardware essential for mining, and both are conservatively forecasting their revenues for 2019.
In conclusion, there have been many interesting developments in crypto mining in 2019. Many of the hardware giants are still experiencing the negative effects of the crypto bear market. Despite this, there are still many companies and groups mining across the world. This is reflected by the increase in Bitcoin mining difficulty in 2019 so far. There are always opportunities for newer miners to mine smaller alt coins as well. For all your crypto mining needs, be sure to get your crypto mining hardware here.