In spring of 2014, Stefan joined the Genesis Mining team with one goal in mind: building with us the world’s leading cryptocurrency hashpower provider. Today, after more than 4 years of dedication, passion and success, we honour his resignation and thank him for everything he helped us to achieve.
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As many of you are aware, there was a fork in the Monero code, referred to as V0.12.0 “Lithium Luna” on April 6th. As thus, the original CryptoNight algorithm (now referred to as CryptoNightV0) was altered to, among other things, neutralize all ASIC hardware mining the original Monero blockchain. The new mining algorithm is now referred to as “CryptoNightV1”.
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This is a big time of year for the Genesis Mining family, it’s our birthday! Four years ago this company was founded with the believe that Bitcoin, Cryptocurrencies and Blockchain technology would change the world as we know it.
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As I previously discussed in my March 14 note, as the leading cloud services provider for the mining and blockchain industry, we believe we have a responsibility to push our industry and community forward.
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To the entire crypto community and most importantly, our customers: On Sunday evening, we received a Cease and Desist letter from the South Carolina Securities Commission. This letter requires us to immediately stop selling to customers in South Carolina because of the belief that the service we sell, computer hash power (mining), is considered a security. According to the South Carolina Securities Commission, without registering or operating under exemption, the offering of our service would be a violation of the South Carolina securities laws.
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