Search Results for: bitcoin mining sector

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…

Terawulf Energizes 50 MW at Nuclear-Powered Bitcoin Mining Facility Nautilus

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Bitcoin mining company Terawulf has announced the full deployment of its 50-megawatt (MW) stake in the nuclear-powered Nautilus Cryptomine facility. The behind-the-meter bitcoin mining facility is powered by 100% nuclear power and benefits from a fixed power cost of $0.02 per…

Russian Crypto Industry Queries Government About Proposed Criminal Liability for Miners

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The organization representing Russia’s crypto sector has asked the government in Moscow to clarify a proposal to introduce criminal liability for “gray” miners. The draft legislation seeks to punish those who fail to report their income to the state and share…

Investment Fund Focused on Crypto Mining to Be Created in Russia

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The establishment of Russia’s first mutual investment fund dedicated to financing cryptocurrency mining operations is underway. According to a report by the Russian press, it will be available to qualified investors and will finance the acquisition of coin minting equipment. Russian…

US Senator Focused on Crypto Money Laundering Crackdown — Urges Congress, Regulators to Take Action

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U.S. Senator Elizabeth Warren has called on Congress to ensure regulators, such as the Securities and Exchange Commission (SEC), have the tools to regulate the crypto industry effectively and crack down on crypto money laundering activities. “The current legal structure essentially…

GAIMIN Delivers a Decentralized Approach to the Increasing Requirement for More Data Processing Power

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The world-wide demand for data processing is increasing year-on-year, with data processing applications requiring ever increasing performance from data processing devices and services. Industries, such as Artificial Intelligence (AI), video rendering, powering blockchain computations, scientific simulations and research, financial modeling and…

Amid High Energy Demand From Miners, Russia Mulls Building New Power Plants in Siberia

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Growing electricity consumption in the crypto mining sector may require the construction of new power generation facilities in Siberia, the energy minister of Russia has acknowledged. Demand continues to increase in residential areas as well, after regional authorities abandoned a proposal…

While Miners Deal With Low BTC Prices, Bitcoin’s Mining Difficulty Target Expected to Increase 3% Higher

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Bitcoin’s mining difficulty target is expected to increase on Dec. 19, 2022, after printing the largest reduction recorded in 2022 on Dec. 5, at block height 766,080. During the last 2,016 blocks, Bitcoin’s hashrate has been around 254.3 exahash per second…

Bitcoin’s Total Hashrate Slides Lower in December as BTC Miners Struggle for Profits

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While bitcoin prices have been lower than the estimated cost of bitcoin production, the network’s hashrate has dropped a great deal since mid-November. Presently, the total hashrate dedicated to the Bitcoin network is coasting along at 236 exahash per second (EH/s)…

New York Governor Signs Law Partially Banning Bitcoin Mining on Fossil Fuels

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A moratorium on some crypto mining operations relying on carbon-based energy has been signed into law in New York. Businesses engaged in proof-of-work mining in the state will not be able to expand or renew their permits for the next two…