Search Results for: energy ministry

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

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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…

Saudi Arabia and OPEC Reveal Surprise Oil Production Cut; White House Insists Cuts Aren’t Advisable Right Now

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El domingo, Saudi Arabia and several major oil producers announced their plan to cut oil production by 1.15 million barrels per day, starting in May and continuing until the end of 2023. According to the Saudi Energy Ministry, the move was…

Iran Returns Seized Crypto Mining Equipment to Miners

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A government body responsible for state property in Iran has released some of the hardware seized from illegal crypto mining farms. Its top executive explained the agency was obliged to do that by courts in the Islamic Republic, where unlicensed miners…

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…

Korean VC Firm Daesung Private Equity Announces $83 Million Metaverse Fund

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Daesung Private Equity, a Korean venture capital firm, has announced the launch of a metaverse fund of 110 billion won ($83.5 millón). The fund, which will have the participation of the Korean state represented by Korea Venture Investment Corporation’s Korea Fund…

Natural Gas Price Hike Hits Crypto Miners in Iran

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Companies using natural gas as a power source to mint digital currency in Iran will have to deal with a sharp increase in the price of the fuel. The new rates set by the state-run supplier are almost double the previous…

La policía en Kazajstán arresta a una pandilla que obliga a los especialistas en TI a administrar criptogranjas

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Law enforcement in Kazakhstan detained members of a crime group suspected of forcing IT experts into operating underground facilities for cryptocurrency mining with threats and blackmail. The racketeers allegedly made up to half a million U.S. dollars a month from their…

Iran Amends Regulations to Ease Crypto Miners’ Access to Renewable Energy

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Authorities in Iran have revised some rules for the crypto mining industry in order to facilitate its access to green power. Licensed miners will now be able to purchase electricity produced from renewable sources from across the country at lower rates….

Iran to Shut Down Crypto Mining Farms Amid Record High Power Demand

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Authorities in Iran plan to unplug licensed crypto mining facilities as electricity consumption in the country is reaching record highs. The mining farms will be cut off from the grid on Wednesday, the Islamic Republic’s Ministry of Energy announced. Legal Crypto…

Encuestas de exploración de reclamos de Uganda descubiertas 31 Millones de toneladas métricas de oro

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While gold is often considered a scarce asset, Uganda explained on Wednesday that recently conducted exploration surveys indicate that there’s roughly 31 million metric tons of gold ore waiting to be mined in the region. Es más, a spokesperson from Uganda’s Ministry…