latest bitcoin news, page-33

Not sure if this is news as such, but there's mining company KnC Data Center which is currently mining around $466,000 USD worth a day, and make up around 10-15% of the ENTIRE combined mining power on the network. The issue with this is they are doing it for pure fiat currency - that is, as soon as they mine the coins they are dumping/selling them on the exchanges - the demand will be outstripping supply which will drive the BTC price down in the near term.

Couple of pictures of their mining rig/data center..

http://iforce.co.nz/i/ca3coxx1.hm5.jpg

http://iforce.co.nz/i/p1pmo4qk.k1k.jpg

I really hope DigitalBTC aren't planning on just dealing with Bitcoin as opposed to other coins as I can't see how they are going to turn much of a profit on BTC..