Mining Caused T-Mobile LTE Interference in Brooklyn

Issues was caused by running bitcoin miner Antminer s5
16 February 2018   339

The use of mining equipment led to interruptions in the work of mobile operator T-Mobile in the most populated area of ​​New York - Brooklyn. This conclusion, after conducting their own investigation, came to the Federal Commission for Regulation of Communications (FCC) and reported by Bloomberg.

After the complaints received by the department in November 2017, the commission's staff recorded a 700 MHz radio wave emitted by the T-Mobile LTE network from a house in the Sheepshead Bay area, 11229.

Further, they found out that interference with the mobile operator's operation was caused by the active bitcoin miner Antminer s5, and its owner, Victor Rosario, was ordered to disconnect the device and not cause interference in the future.

In addition, within 20 days, he must inform the Office about the purchase, modification and use of the device. Otherwise, he faces a fine, involvement in criminal liability and withdrawal of equipment.

Largest mining farm to be built in the UK

The well-known UK tech company Bladetec is building the first large Bitcoin mining farm in Europe
20 March 2018   173

Bladetec had already got an experience in IT support for NATO and the Ministry of Defence of the UK in the past. Today its idea is funded by investors in a limited company which is protected by UK law.

The facility - Third Bladetec Bitcoin Mining Company (TBBMC), situated on the Southeast of the country, is going to cover 3,500 square feet in three different places: in London, Suffolk and Surrey.

Today the company is raising £10 million from investors for building and operating the farm for up 2 years. The farm will become global and significant, also it is supposed to be introduced in the world`s top 25 and produce considerable return for shareholders (as a result of its dominant position).

The minimum investment to TBBMC project set by the company is £ 5,000 from each applicant. The project allows the capital growth up to even 45 % within a period of 2-3 years. The returns for the shareholders at that stage would be based on the Bitcoins sales`proceeds and the ASIC machines. If the price of Bitcoin does drop by 40 %, an investor may lose 22 % of his capital.

The company declared that it is going to mine 1,280 bitcoins within a period of two years. Nowadays it's difficult to predict how much those Bitcoins may be worth in two years. According to current prices, they will be valued at £ 7,8 million. But the situation may probably change before 2021. As for the raised funds, they would mostly be spent on the energy costs, despite the low energy bills' agreement between Bladetec company and the intended wind farm.

Bitcoin mining is more popular in the countries where the weather is cold (such as Iceland and China). The government of Iceland can implement a tax on mining because of the energy consumption. Chinese authorities insists on the ending of the cryptocurrency trading and mining in the country.