..

Cryptocurrency Company Closes Montana Data Center Operation

Written by:
Associated Press
Published on:
May/19/2020

MISSOULA, Mont. (AP) — A digital currency company announced the closure of its Montana data center and the initiation of bankruptcy proceedings. 

Toronto-based HyperBlock Inc. announced that its 20-megawatt data center has closed and the company's cryptocurrency mining operations have ceased, The Missoulian reported Monday. 

Cryptocurrency is a digital currency that can be traded online anonymously, and the value of a unit such as Bitcoin can increase or decrease as investors buy in or cash out. 

HyperBlock leased a warehouse in Bonner, 7 miles (11 kilometers) east of Missoula. 

The company announced to shareholders May 13 that the Bitcoin algorithm had halved, significantly reducing its compensation. Algorithm halving occurs about every four years to limit the amount in circulation, HyperBlock said. 

HyperBlock also said its electricity provider, Energy Keepers Inc., indicated it would terminate their long-term contract effective May 14. 

A spokesperson at HyperBlock headquarters in Canada and a manager of the Montana facility could not immediately be reached for comment. 

Steve Nelson, a co-owner of the Bonner property, declined to comment. 

Business/Financial News

“Peculiar” BTC Price Action Sparks Volume Surge

“Peculiar” BTC Price Action Sparks Volume Surge

The price of Bitcoin shot above the $10,000 mark for the first time since February.

Dow Futures Jump as Investors Focus on Economy, Not Civil Unrest

Dow Futures Jump as Investors Focus on Economy, Not Civil Unrest

U.S. stock futures were higher in early trading on Tuesday as investors looked past civil unrest throughout the United States.  The focus is more on businesses reopening following months of closure due to a global pandemic.

Bitcoin Shoots Over $10K

Bitcoin Shoots Over $10K

The price of Bitcoin has hit an important milestone June 1, 2020, crossing above the $10,000 mark.

New Bitcoin Bug Could Wreak Havoc YouTube Censorship Blockchain Alternative Lbry.tv

New Bitcoin Bug Could Wreak Havoc, YouTube Censorship Blockchain Alternative Lbry.tv

Bitcoin's timelocked transactions used to discourage miners were found to be bugged.

Stock Futures Slip: Bookmaker Offers Over, Under on 25300

Stock Futures Slip: Bookmaker Offers Over, Under on 25300

U.S. stock futures fell on Sunday night amidst civil unrest across the United States.

Syndicate