Weekly Roundup: Bitcoin Miners Make Over $1.5 Billion in March

Jack Dorsey’s NFT tweet will help the poor in East Africa through an upcoming bitcoin donation. To learn more about this developing story and other news, keep reading.

Jack Dorsey’s NFT Tweet to Help the Poor in East Africa

As the non-fungible token (NFT) craze continues, Jack Dorsey is auctioning his first tweet on Twitter as an NFT. Dorsey posted this tweet on May 6, 2006. The auction is taking place on Valuables and will end on March 21, 2021.

Dorsey has tweeted he will convert the proceeds of this auction to bitcoin and donate them to GiveDirectly. This is a non-profit organization that seeks to end extreme poverty in East Africa. Donations sent to GiveDirectly benefit people in Kenya, Rwanda, and Uganda.

Currently, the highest bidder of this NFT tweet was a Twitter user with the handle @sinaEstavi. He outbid Tron CEO Justin Sun, who had bid $1 million. Estavi bid $2.5 million.

Valuables wrote: “The tweet itself will continue to live on Twitter. What you are purchasing is a digital certificate of the tweet, unique because it has been signed and verified by the creator. Owning any digital content can be a financial investment, hold sentimental value, and create a relationship between collector and creator. Like an autograph on a baseball card, the NFT itself is the creator’s autograph on the content, making it scarce, unique, and valuable.”

Uncertain Regulatory Environment Pushes Crypto Firms Out of South Africa

The uncertain regulatory environment is pushing crypto firms out of South Africa. According to an article on Business Tech, the MTI scam gave regulators in South Africa a jolt and some firms will not wait to see how the matter pans out from a regulatory standpoint.

These crypto firms are planning on moving to Singapore and the UK. That is because Singapore is redrawing legislation to attract crypto firms while the UK is getting requests to embrace cryptocurrencies.

Revix, a crypto investment platform that allows customers to invest in a bundle of cryptocurrencies, is moving its headquarters from Cape Town to the UK. The company is also considering setting up in Germany to scale its operations.

Luno is another crypto company with headquarters in the UK despite being owned by South Africans. The exchange also operates in Singapore.

South African regulators “have been incredibly slow in terms of regulation in the industry and that leads to businesses looking internationally. In an unregulated environment, a customer arrives at our platform with skepticism, and rightfully so,” said Revix CEO Sean Sanders in an interview.

According to Sanders, the uncertainty regarding potential regulation is also making it difficult for crypto firms to market their services on social media platforms thereby limiting growth.

Binance CEO CZ Among the Top Blockchain Billionaires in 2021

Binance CEO, Changpeng Zhao (CZ), is among the top blockchain billionaires in 2021 according to the latest Hurun global list. CZ and 16 other billionaires have cumulative wealth of US$ 77 billion. These billionaires have generated their wealth from running crypto exchanges, investing in cryptocurrencies, and mining crypto.

After facing a price correction in 2018, crypto billionaires are enjoying a boost in their wealth thanks to the recent bull run.

The top five billionaires are Brian Armstrong of Coinbase, Sam Bankman-Fried of FTX, Changpeng Zhao, Chris Larsen, and Jed McCaleb of Ripple. Their net worth is $11.5 billion, $10 billion, $8 billion, $5.1 billion, and $3.2 billion, in that order.

Argo, DMG unveil plans for clean energy-backed bitcoin mining pool

A pair of publicly traded bitcoin mining corporations introduced plans final week to create what they name the first-ever mining pool powered solely by clear vitality sources.

The partnership between the UK-based cryptocurrency mining agency Argo Blockchain and Canada-based DMG Blockchain Options will outcome within the launch Terra Pool.

Terra Pool’s hash price will initially come from Argo’s and DMG’s mining sources. Argo stated in an announcement that the 2 corporations’ mining energy is “principally generated by hydroelectric sources.”

“Terra Pool represents the primary ever alternative for the creation of ‘inexperienced bitcoin’. The initiative goals to expedite the shift from standard energy to scrub vitality and scale back the impression of Bitcoin mining on the setting. The mining pool will present a platform for cryptocurrency miners to provide Bitcoin and different cryptocurrencies in a sustainable approach,” the agency stated in an announcement.

“Addressing local weather change is a precedence for Argo and partnering with DMG to create the primary ‘inexperienced’ Bitcoin mining pool is a crucial step in direction of defending our planet now and for generations to return,” Argo Blockchain CEO Peter Wall was quoted as saying.

The information comes greater than a month after Argo bought 320 acres of land in West Texas to open a 200-megawatt mining facility and practically three months after the agency sought to extend its mining capability by 75%.

This guy modded his Nintendo Game Boy and is mining Bitcoin on it

I nonetheless bear in mind proudly owning a Nintendo Sport Boy however I by no means thought I would be writing an article explaining how somebody has modded their Sport Boy and is now crypto mining Bitcoin from it. Sure, you learn that proper — this man has modded his Sport Boy and is mining Bitcoin on it for actual — test it out:

You may’t simply flip the Nintendo Sport Boy on and begin mining Bitcoin, as there is no such thing as a web connection — so first, you may want the Raspberry Pi Pico which acts as a hyperlink cable to USB adapter. That is plugged right into a PC which supplies the Nintendo Sport Boy an web connection which is required for cryptocurrency mining, or else you would not have the ability to mine Bitcoin out of your Sport Boy, after all!

There are just a few extra steps required earlier than you will get Bitcoin mining in your Sport Boy, however when it does Nintendo’s moveable sport console is able to pumping out 0.8 hashes per second, which when in comparison with a current-gen ASIC miner which pumps out round 100 terahashes per second… the GameBoy is 125 trillion — or 125,000,000,000,000x slower than the current-gen ASIC miner.

This implies it might take a single Nintendo Sport Boy just a few quadrillion years to mine a single Bitcoin… completely not value it, however it’s a nerd-out fest to see Bitcoin being mined on a freaking Nintendo Sport Boy.