Search Results for: Energy

Large Immersion Cooled Crypto Mining Farms to Extract Bitcoin in Middle East Desert

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A project to build two large-scale facilities for cryptocurrency mining is underway in the United Arab Emirates (UAE). The high-tech data centers will rely on a full immersion solution to cool the power-hungry miners as the desert climate renders air-cooled mining…

Iran Shuts Down Over 8,000 Illegal Crypto Mining Farms in 3 Years

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Authorities in Iran have closed down more than 8,000 underground facilities for cryptocurrency mining in the past three years, local media reported. Despite the government’s crackdown, illegal crypto mining continues to account for a serious amount of energy consumption, official figures…

Ex-Coinbase Exec Balaji Srinivasan Closes Out $1 Million Bitcoin Bet

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Former Chief Technology Officer at Coinbase, Balaji Srinivasan, closed out early a bet that the price of bitcoin would hit $1 million by mid-June amid hyperinflation of the U.S. dollar. Srinivasan paid a total of $1.5 million, more than the initially…

Japan’s Inflation Surges to 3.5% as New BOJ Governor Takes the Helm

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This week, the Statistics Bureau of Japan unveiled the latest core consumer price index (CPI) report for the country, revealing a surge to 3.5%. This figure comes as a surprise to analysts who had predicted a more modest 2.9% for the…

Russia to Increase Reliance on National Currencies in Energy Trade, Vows to Move Away From the US Dollar

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Russia will increase its reliance on national currencies to settle payments for its energy resources, moving away from the US dollar, according to Russian Deputy Prime Minister Alexander Novak. Novak noted there is a great interest in acquiring Russian energy resources,…

SAI․TECH’s SAITIME 2023 Will Unveil Revolutionary Products for Mining and Computing Industry

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PRESS RELEASE. SINGAPORE – SAI.TECH Global Corporation, a clean-tech company specializing in Bitcoin mining, heating, and power industry, hosted its virtual corporate annual conference, SAITIME 2023 on April 20th at 08:30 EST. The virtual conference was hosted by founder & CEO…

Chip Giant Intel Abandons Bitcoin ASIC Production

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After announcing the production of bitcoin application-specific integrated circuits (ASICs), Intel, the world’s largest semiconductor chip manufacturer by revenue, appears to be abandoning its blockchain chip production. On Tuesday, a spokesperson for the chip manufacturer explained that Intel has “end-of-lifed the…

Police in Kosovo Seize Crypto Mining Rigs From Serbs

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Kosovo police have seized dozens of crypto mining devices from residents of a majority Serb region in the north of the country. Authorities in Pristina and Belgrade exchanged accusations over the move, which has the potential to raise tensions in the…

IMF Blog: Interest Rates to Fall to Pre-Pandemic Levels Once Inflation Is Tamed

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When inflation in advanced economies is tamed, real interest rates are likely to drop to pre-pandemic levels, the latest International Monetary Fund (IMF) blog post has said. According to the authors of the blog post, the transition to a “cleaner economy…

Cleanspark Purchases 45,000 Bitcoin Mining Devices, Adding 6.3 EH/s to Current Fleet

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On Tuesday, the bitcoin mining company Cleanspark announced that it had purchased 45,000 Antminer S19 XP bitcoin mining devices for a total price of $144.9 million. Cleanspark stated that the new fleet would add 6.3 exahash per second (EH/s) of computational…