Tag: Crypto Mining

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Bitcoin News Cryptocurrency News

VBit Technologies Evolves From Solely Mining To Broader Crypto Services

VBit Mining

VBit Technologies, one of only a few US-based hosting hardware mining companies, unveiled its new branding that will be more in line with their ongoing business diversification set to roll out in 2021.

After three years of serving as the ultimate symbol of VBit Technologies’ mission, their first logo is being retired. A new group of VBit logos is being introduced- one variation for each of their services within the crypto industry.

“VBit is a brand that moves with the times, and we have evolved dramatically over the few years from a company that was known primarily for selling mining equipment to a name that is connected with broader services within the crypto value chain,” Danh Vo, CEO and founder, said.

They further stated that their mission is to accelerate the financial technology revolution by advocating the incredible potential of blockchain technology to a bigger audience and developing cutting-edge products and services, and they wanted their logos to reflect exactly that. VBit Technologies will remain the leading brand – gathering all VBit specific service brands under its umbrella. 

Mr. Vo shared more details: “Crypto as an industry has now come of age, and is now firmly in the mainstream -it is here to stay and so is VBit Technologies. Our infinity-inspired logo is implicating our stability and futuristic aspirations.”

VBit Mining brand will represent the company’s mining hardware distribution branch – a trusted retailer of the Antminer ASIC miners, the most popular Bitcoin mining hardware globally. VBit Data Centerslogo will be hanging in the rafters of their US and Canada data center facilities, which are servicing thousands of people worldwide, and are on their way to becoming one of the largest bitcoin mining operations in the world.

They hinted that other brands would be presented later this year, as the company plans to develop additional service branches as their “…Ultimate goal is enabling acceptance of crypto-based tools and operations in the everyday lives of people across the globe, and the new logo design marks the start of the new era for VBit.”

VBit Technologies
VBit Technologies
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Blockchain News Cryptocurrency News

OKEx Releases Two New Decentralized Apps

OKEx

OKEx, a world-leading cryptocurrency spot and derivatives exchange, is delighted to announce that the team behind the open-source blockchain OKExChain has launched two decentralized applications, OKEx Swap and OKEx Farm, on the protocol. Both these new features, along with the opening of the OKT/USDT Farm Pool commenced today at 10:00 am UTC. 

OKT withdrawals also opened at the same time, giving OKT holders the ability to stake OKT along with USDT in Swap to earn OKT-USDT LP tokens. These can then be used to stake in the OKT-USDT Farm Pool for additional earnings, such as mining new OKT.

The OKEx Swap and Farm initiatives have been enabled by the initial stability testing of the OKExChain mainnet that generated tens of thousands of OKT block rewards (according to OKExChain’s block reward rules). These tokens have not yet been allocated, meaning that OKT holders can unlock significant rewards by mining OKT on-chain.

The size of the reward will be voted on by the OKT/USDT whitelist pool on Jan. 26 at 10:00 am UTC. If the vote is approved, a snapshot will be taken according to the blocks that voted in favor, and the accumulated OKT will be distributed according to the proportion of OKT-USDT LP tokens that they had staked in the OKExChain Farm pool when the proposal was approved.

The amount of OKT that users can mine is equal to the number of tokens staked divided by the total number of tokens in the Farm Pool, multiplied by the cumulative amount of OKT. After the cumulative OKT allocation is complete, users can continue to mine through the OKT-USDT Farm Pool. Staking starts as soon as the Farm function is launched. 

“The phased launch of OKExChain is moving along at a very encouraging pace. Already after completion of the initial stage, we have seen its native token, OKT, commanding an all-time high of $86.54 in its first days of trading on the OKEx platform. We’re thrilled that the team behind OKExChain has been able to provide OKT holders with even more benefits through the Swap and Farm initiatives and to see OKExChain expanding its utility,” commented OKEx CEO Jay Hao.

In addition to staking and mining rewards via OKEx Swap and Farm, OKT provides users with further immediate utility and benefits, including voting rights and transaction-fee payments for decentralized exchanges and other DeFi applications built on the network. OKT is currently available to trade on the OKEx platform with zero fees on all trading pairs for the first 30 days.

For further information on OKEx Swap and OKEx Farm DApps, please visit the OKEx Support Center here.

OKEx is a world-leading cryptocurrency spot and derivatives exchange, OKEx offers the most diverse marketplace where global crypto investors, miners and institutional traders come to manage crypto assets, enhance investment opportunities and hedge risks. OKEx provides spot and derivatives trading — including futures, perpetual swap and options — of major cryptocurrencies, offering investors flexibility in formulating their strategies to maximize gains and mitigate risks.

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Cryptocurrency News

Ecochain Expanding Its Crypto Mining To The Southeast

EcoChain

EcoChain, Inc., headquartered in Albany, New York, a wholly owned subsidiary of Mechanical Technology, Incorporated, a publicly traded company (OTC Pink: MKTY) announced yesterday an agreement to acquire land to build a green cryptocurrency mining center.

Today’s announcement of an agreement to acquire land is an important step in the Company’s plan to build an ultra low-cost green data center that will fulfill the Company’s goal of becoming an ultra capital efficient crypto mining operator.

The Company anticipates that the site, which is located in the Southeast United States, represents a critical step in its strategic roadmap to grow its EcoChain business.  The Company has set an objective to complete construction of a 25MW mining center that will be operational in the fourth quarter of 2021.

They expect this site will be the template for future greenfield and brownfield site builds, with a keen focus on operating and capital efficiency.

In cooperation with their technical partners at Soluna, MTI continues to build a robust pipeline of green powered ultra low-cost locations. Their pipeline incorporates a blend of greenfield, brownfield and ready to operate projects.

“We are excited to be executing on our plan to build out at least 50MW by years end,” commented Michael Toporek, CEO. Added Toporek: “We very specifically have set a target to have under our control and ramp up operations of 50MW of green powered ultra low-cost data center capacity by the end of the year.” Concluded Toporek: “It was important for us to begin executing on our 2021 objectives early. Our team continues to work to meet or beat its targets.”

About EcoChain, Inc.

EcoChain is engaged in developing and operating ultra low-cost green data centers focused on cryptocurrency mining.