Bitcoin has become a $2 trillion asset in the 17 years since Satoshi Nakamoto published the white paper, but it faces its first red October since 2018. Update Oct. 31, 6:31 p.m. UTC: This article has been updated to include comments from Narek Gevorgyan, the founder and CEO of CoinStats. Bitcoin’s foundational document turned 17, marking the journey of the world’s first decentralized digital currency from a niche financial experiment to a $2 trillion global asset held by governments and institutions. Bitcoin creator Satoshi Nakamoto first shared the Bitcoin white paper 17 years ago today, on Oct. 31, 2008, in response to the global financial crisis. Read more
Canaan will supply 4.5 megawatts of water-cooled Bitcoin mining ASICs to a Japanese engineering firm for real-time grid balancing and energy optimization. Mining hardware producer Canaan won a contract to supply 4.5 megawatts (MW) of Bitcoin mining application-specific integrated circuits (ASICs) for a project designed to help stabilize Japan’s electric grid. According to a Thursday announcement, the company will supply an electrical engineering solutions provider Bitcoin mining ASICs with a capacity of 4.5 MW. The project will deploy Canaan’s new Avalon A1566HA-488T water-cooled mining ASICs for “real-time grid balancing and energy-efficiency optimization,” Canaan said. The mining operation will run continuously and utilize controlled overclocking and underclocking, adjusting power consumption to stabilize the regional grid load. Canaan’s proprietary control systems will dynamically adjust frequency, voltage and hashrate to match power supply and demand. Read more