Search Results for: cryptocurrency mining

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…

Bitcoin Difficulty Reaches New All-Time High After Fourth Consecutive Increase

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On April 6, 2023, Bitcoin’s difficulty rose 2.23% higher at block height 784,224, touching another all-time high. It’s the fourth consecutive difficulty increase on the Bitcoin network since Feb. 24, and the protocol’s current difficulty is 47.89 trillion, which is only…

Tax Benefits for Bitcoin Businesses in Belarus Extended Until 2025

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Tax exemptions for companies and individuals legally working with cryptocurrencies in Belarus will remain in place until Jan. 1, 2025. A new presidential decree extends the tax cuts introduced in 2018 when the executive power in Minsk legalized crypto activities such…

Bitgo Launches Storage and Tracking Solution for Bitcoin-Based Ordinal Inscriptions

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On Thursday, digital asset custody provider, Bitgo, announced the launch of its storage and tracking solution for Bitcoin-based Ordinal inscriptions. Moreover, users can use Bitgo’s Ordinal inscription storage system to inscribe their own inscriptions onto the Bitcoin blockchain. Bitgo’s New Solution…

Bitcoin Hashrate Reaches 400 Exahash per Second, Researcher Says Network Could Reach Zettahash Era by 2025

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Despite Bitcoin’s difficulty reaching an all-time high at 46.84 trillion, participants in bitcoin mining have kept the hashrate running stronger than ever before. According to statistics, on March 23, 2023, the hashrate reached a high of 400 exahash per second (EH/s)….

US Lawmaker Introduces Bill to Affirm Blockchain Developers and Non-Custodial Services Are Not Money Transmitters

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A U.S. lawmaker has introduced the Blockchain Regulatory Certainty Act to ensure that developers and non-custodial service providers in the crypto space are not considered money transmitters and are not subject to the same level of regulation as custodial cryptocurrency exchanges….

SEC in a Pickle: Crypto’s Tricky Trio Stirs Up Trouble in 2023

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2023 is shaping up to be a painful year for the U.S. Securities and Exchange Commission (SEC) as it finds itself entangled in battles with the ever-evolving and innovative cryptocurrency industry. From Ripple to Coinbase and Tron, the SEC faces fierce…

Bitcoin Network Preps for Another Difficulty Spike as Hashrate Remains Strong and Miners Profit Amid Price Surge

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Following the last two difficulty increases on the Bitcoin network, another rise in difficulty is expected to take place on March 24, 2023. Statistics show that Bitcoin’s hashrate has remained high despite the last two adjustments, and block times have been…

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…

FBI Says Crypto Investment Fraud Rose 183% to $2.57 Billion in 2022

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The Federal Bureau of Investigation (FBI) says cryptocurrency investment fraud rose 183% from $907 million in 2021 to $2.57 billion in 2022, based on data from its Internet Crime Complaint Center (IC3). The FBI also warned the public of “a spike…