New Gen Bitcoin Mining Machines ‘To Serve For 3-4 years’ + More News

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Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

Mining news

  • Hardware maker Bitmain says that newer mining rigs could be used for longer than previous devices due to a forthcoming market turnaround. Per media outlet 8btc, Bitmain chief Jihan Wu stated that bitcoin was about to enter “a slow-coming and long” bull market phase, meaning that “next-generation mining machines could serve for a longer time” of around three to four years. Wu opined that machines that are rolled out at the beginning of a bull market showed more longevity than those released “on the crest” of a bull market.
  • Listed cryptocurrency mining company Riot Blockchain stated that the COVID-19 pandemic could seriously disrupt their Bitcoin (BTC) mining operations. In the general risks section of their annual 10-K report with the U.S. Securities and Exchange Commission (SEC), the company listed a number of potential risks. Among these, they stated that workers are being quarantined / self-isolated, the company’s supply chain is obstructed under border restrictions and factory closures, and Riot Blockchain is considered a “nonessential business,” meaning that the access to its rigs and offices may be cut off.

Security news

  • Security experts say they have discovered a “network of BTC-to-QR-code generators” that has enabled malicious players to steal “more than USD 45,000 from users in the past four weeks.” Per ZDNet, at least nine active websites claim to allow bitcoin holders to turn longer wallet addresses into QR codes, but in fact “instead of converting an inputted bitcoin address into its QR code equivalent” such websites “always generated the same QR code – for a scammer’s wallet.”

Exchanges news

  • The Tokyo District Court issued an order to extend the submission deadline for the Mt. Gox rehabilitation plan to July 1,…

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