London Institute Uses 64 Monitors to Demonstrate How Bitcoin Works Bitcoin MiningNews Bitcoin Mining Developer Spondoolies Shuts Down Samburaj Das Advertisement: Bitcoin mining equipment developer Spondoolies-Tech has ceased operations this month, CEO Guy Corem revealed.Israeli bitcoin mining equipment developer Spondoolies-Tech, a prominent bitcoin hardware manufacturer in recent years has, in a surprising announcement, revealed that it has shut down operations this month.A social media post by Spondoolies-tech CEO Guy Corem read: As of May 4, 2016, Spondoolies-tech has ceased operations.It has been a great privilege to serve the Bitcoin mining community and especially our customers.We deeply appreciate the support and faith that you have placed in us and wish you success in your future endeavors.The manufacturer’s mining equipment was widely seen as industry standard, setting the benchmark for efficient, noteworthy mining rigs.CCN has reviewed several of their mining rigs in the past.

The closure comes as a surprise, not long after a recent investment which saw bitcoin mining firm BTCS (formerly Bitcoin Shop) increase its stake in the Israeli mining equipment developer to 9.6% from 6.6% with $750,000.litecoin exchange reviewsThe former e-commerce retailer had originally invested $1.5 million in Spondoolies-Tech in May 2015.bitcoin hourly rateSubsequently, the Israeli firm also saw its endeavor to merge with BTCS gain approval from the country’s Office of the Chief Scientist (OCS), in February this year.yahoo bitcoin botnetNotably, Spondoolies-Tech had even announced a revenue of $28 million in May 2015, for the previous year in 2014.bitcoin nas?l uye olunur

The drastic departure marks a remarkable turn of events for the mining hardware company which was seen among the most promising startups in the bitcoin industry.litecoin price and difficultyDissolved at Court After Lack of Payroll According to a report from Finance Magnates , seven employees from Spondoolies requested an Israeli court to dissolve the company after being notified that the company could no longer afford to retain them, whilst denying their last salary settlement.bitcoin gadget windows xpSpondoolies suffered from a lack of creditors, despite the recent investment by BTCS which wasn’t enough.bitcoin 200 gh/sThe employees also sought the court to appoint a temporary liquidator in the hopes of finding a new investor or, alternatively, an acquisition of the firm or parts of it.bitcoin price forecast 2018

The reason cited in the report for the change of fortunes for the bitcoin mining hardware firm is competition with China-based bitcoin hardware developers, ultimately proving to be a curtain call for Spondoolies-Tech.bitcoin illegal in malaysiaFeatured image from Shutterstock.Bitmaintech Israel, Bitmain’s first R&D center outside of China, has launched to the public ConnectBTC, a new Bitcoin mining pool.The latest product of Bitmaintech Israel’s lab, ConnectBTC aims to become “the new home for miners.” ConnectBTC operates under a robust infrastructure and employs the latest cutting-edge technologies to allow members to maximize their profit and minimize the work required, the company claims.The pool charges 0% on pay per share (PPS) and subsidizes members with an additional 6% for a total of 106% of the block reward.The pool provides detailed real-time information and analytics to miners and gives mining operators a better understanding of their performances, without the need to develop custom internal monitoring tools.“Our role as pools is to provide miners with liquidity and stability,” Gadi Glikberg, manager at ConnectBTC, said.

“We provide miners with real time data in an easy to use UI, while keeping payment plans simple and stable.”“In recent years, pools have come up with imaginative new payout methods that confuse customers and displace risks back to the miners.High subsidies on regular PPS plans allow miners to benefit from the increase in transaction fees while avoiding any risks.”Founded in 2013, Bitmain Technologies develops and sells the world’s leading bitcoin miners using Bitmain’s ASIC chip technology.In May of 2016, the company released the Antminer S9, the world’s first consumer-grade bitcoin miner based on a 16nm process ASIC chip and the most power-efficient bitcoin miner.Bitmain is one of most recognizable companies in the cryptocurrency space and the proud parent of several brands, among them Antminer, Antpool, one of the world’s leading mining pools that mines about 15% of all blocks, and Hashnest, another cloud mining platform launched in 2014 in collaboration with Umisoo.Bitmain is headquartered in Beijing and has offices in Amsterdam, Hong Kong, Tel Aviv, Qingdao, Chengdu and Shenzhen.Pooled mining is a mining approach where multiple generating clients contribute to the generation of a block, and then split the block reward according to the contributed processing power.

The practice emerged when the difficulty for mining increased to the point where it could take years for smaller miners to generate a block.Join our Telegram Channel!Get Bitcoin News stories in Telegram × Dismiss* FM HomeCryptoCurrencyNewsBitcoin Mining Giant Bitmain Launches a Pool Developed in Israel Bitcoin Mining Giant Bitmain Launches a Pool Developed in Israel Bitmain, the world’s largest bitcoin mining hardware producer headquartered in Beijing, has announced the launch of ConnectBTC – its newest mining pool.The pool is developed and operated by Bitmaintech Israel, Bitmain’s first R&D center outside of China.The developers explain that ConnectBTC’s pool provides highly detailed real-time information and analytics to miners, and gives mining operators a better understanding of their performance, without having to develop custom internal monitoring tools.It was fully developed by Bitmaintech in Israel, independently of any other pool.“Our role as pools is to provide miners with liquidity and stability.

We provide miners with real time data in an easy to use UI, while keeping payment plans simple and stable.In recent years, pools have come up with imaginative new payout methods that confuse customers and displace risks back to the miners” noted ConnectBTC’s Manager, Gadi Glikberg.“High subsidies on regular PPS plans allow miners to benefit from the increase in transaction fees while avoiding any risks” he added.Miners who wish to join the new pool can just register and start mining immediately, there’s no configuration or setup required.ConnectBTC automatically sets up workers, saving mining operators from having to maintain two sets of configurations both locally and at the pool.Bitmaintech Israel specializes in innovating for pooled mining services, and delivering advanced capabilities to bitcoin mining operations of all sizes.xDon't stay behind!Sign up for our newsletter and get all the hottest news in your inbox daily.* First Name Last Name Email address* I would also like to receive business enhancing offers and promotionsComments Report News First NameLast NameEmail message*Comments Found a mistake?