• Argo Blockchain’s in-person hiring fair in Dickens, Texas, was postponed last week due to new variant Covid concerns and the possibility of border closures. Fortunately for modern technology, pre-scheduled interviews were held online and by phone. Any interested parties may still apply online at argohiring.com or by dropping off a resume to Judge Kevin Brendle’s office at 201 US-82, Dickens, TX, by December 10.
• Texas Senator Ted Cruz believes that Bitcoin miners may help stabilize Texas power grid. Currently, the Energy Reliability Council of Texas (ERCOT) struggles to maintain a balance between the energy produced and the energy consumed in Texas. Cruz suggests the infrastructure of the Texas energy grid can be stabilized by inviting Bitcoin miners to set up shop in Texas. Miners would consume energy during non-peak usage windows to relieve any stress on the system thus providing equilibrium to the power supply.
• Overall cryptocurrency market value has steadily trended downward since Thanksgiving. Unlike long-term crypto account holders, aka ‘HODLers,’ who are taking advantage of the lower cost of crypto by buying more, some firms and individuals are choosing to liquidate their crypto assets. In reviewing the long term ups and downs of the market since inception, the current price of one bitcoin is still substantially worth more than just one year ago today and is four times the value from just 2 years ago. These insights make the currency still a desirable investment for many.
• Russian law enforcement has shut down two illegal mining facilities under their jurisdiction. The facilities were discovered stealing electricity after an internal audit revealed the unauthorized connection. The mining operation was using an equivalent of $7,000 per day in power consumption. Criminal proceedings will start soon to hold those responsible for the theft accountable.
• Bitmart, a cryptocurrency exchange, was hacked this week, resulting in losses of approximately $196 million. The online company’s security was breached by an unknown hacker simply referred to as the “Bitmart Hacker.” The hacker used ingenious methods of transferring coins between accounts and swapping the currency for other tokens, making tracking the attack almost impossible. New security measures will be reviewed to prevent future infringements.
• Twitter CEO Jack Dorsey, resigned his post recently to new CEO Parag Agarwal. Earlier this year Dorsey was quoted as saying “If I were not at… Twitter, I’d be working on Bitcoin.” Many Twitter users believe that Dorsey is embarking on a “passion” mission to cement Bitcoin technology making using the currency easier for everyday use.
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