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Report: South African Startup Momint Seeks to Boost Electricity Generation Using Blockchain-Based Solution
21.2.2023
Using a solution that is based on blockchain technology, the South African startup Momint has said the recently launched Suncash initiative aims to ease the country’s power generation challenges. For about $9, investors can reportedly buy non-fungible tokens (NFTs) linked to solar cells which...
At Least 1,000 Lawsuits Filed Against Crypto Miners in Russia’s Irkutsk Region
14.2.2023
Authorities in the Russian region of Irkutsk have so far filed 1,000 lawsuits against what they call “gray” miners, or people minting coins in their homes. In over half of these cases, courts have ordered the defendants to compensate the operators of the distribution networks. Hundreds of Crypto...
Daily Raids on Crypto Farms as Abkhazia Intensifies Mining Crackdown
12.2.2023
Authorities in Abkhazia are stepping up efforts to clamp down on cryptocurrency mining amid electricity shortages in the winter months. The government of the breakaway Georgian region announced it’s also taking measures to prevent imports of mining equipment. Abkhazia Creates Headquarters to Combat...
Kazakhstan Law Limiting Crypto Miners’ Consumption of Electricity Enters Into Force
11.2.2023
A new law expanding the regulatory framework for cryptocurrency miners while restricting their access to low-cost electricity has entered into force in Kazakhstan. The legislation introduces a licensing regime for mining with two different categories of licenses that companies will have to renew...
Abkhazia Police Seize 396 Crypto Mining Rigs in 48 Hours as Electricity Woes Continue
9.2.2023
Police in Abkhazia have confiscated 396 crypto mining rigs in the space of just 48 hours – as the de facto state continues its battle against illegal miners. The government has blamed illegal miners for crippling power shortages and rolling blackouts that have left thousands without electricity....
Electricity- and Network-free Digital Yuan Payments Taking off in China – Report
8.2.2023
Electricity-free digital yuan payment adoption is reportedly on the rise in China – where smartphone users can spend their coins without a network connection.
Earlier this year, the central People’s Bank of China (PBoC)’s updated the official digital yuan app. The update allows users to...
South African Retailer Pick n Pay Now Accepting Payments via BTC at All Its Stores
3.2.2023
Pick n Pay, one of South Africa’s leading retailers, reportedly now accepts bitcoin as payment at all its stores across the country. Using the bitcoin lightning network, Pick n Pay’s customers can now buy items such as groceries, airtime and electricity tokens. Using BTC for Everyday...
Ban on Crypto Mining in Residential Areas Proposed in Russia
28.1.2023
Advisors to the Kremlin have suggested that home crypto mining should be banned in Russia, or in some of its regions. The stated motive for the proposal is to prevent fires in residential buildings. Amateur miners have been blamed for high loads on the grid causing breakdowns and blackouts. Energy...
Crypto Miners in Kazakhstan Start Paying Higher Electricity Fees
7.1.2023
Since the beginning of 2023, cryptocurrency miners operating in Kazakhstan are obliged to pay new fees for the power they need to mint digital coins. A surcharge introduced in 2021 now depends on the price of electricity consumed by bitcoin farms and can be much higher than the original levy....
Amid High Energy Demand From Miners, Russia Mulls Building New Power Plants in Siberia
1.1.2023
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...
Challenging Year for Bitcoin Miners as Fewer BTC Mining Rigs Are Profitable at Current Prices
31.12.2022
Bitcoin miners have had a challenging year as the network’s mining difficulty reached an all-time high and the spot market price of bitcoin dropped below the cost of production. Currently, with electricity costs at $0.07 per kilowatt-hour (kWh), only 18 application-specific integrated...
Russia Cracking Down on Crypto Miners Minting in Residential Areas
14.12.2022
Russian authorities are now prosecuting miners extracting cryptocurrency using subsidized electricity for the population, according to a top official from the energy ministry. Power utilities are detecting their increased consumption and trying to make them pay at commercial rates. Amateur Crypto...
Crypto Miners in Kazakhstan to Buy Only Surplus Power, Under Digital Assets Bill
8.12.2022
Companies extracting cryptocurrencies in Kazakhstan will be allowed to purchase only excess electricity on a government-controlled market. The decision comes with new legislation approved by lawmakers which regulates the activities of the industry and the taxation of its profits. Law to Regulate...
Russia Expects Sizable Increase in Crypto Miners’ Share of Power Usage
8.12.2022
The crypto mining industry may see a two-fold increase in its share of Russia’s power consumption in 2022, according to a high-ranking official from the Ministry of Energy. The department supports a bill designed to regulate the sector which is likely to be adopted this year. Russian Energy...
Bitcoin Miners Offered Way to Cut Texas Electricity Usage to Help the Grid
6.12.2022
The voluntary program to lower power consumption during high demand period, might go live around Jan. 1, 2023
Kentucky to scrutinize contracts offering cheaper electricity to miners
6.12.2022
An Earthjustice lawyer said the hearings and discovery process would give Kentuckians a good idea what they would be paying for by subsidizing the facilities
Kentucky Investigating 2 Proposed Contracts That Would Give Discounted Electricity to Crypto Miners
5.12.2022
Kentucky’s Public Service Commission is concerned the rates could result in higher electric bills for state residents
Manitoba Halts New Crypto Mining Projects Due to Expected High Energy Demand
1.12.2022
Authorities in Manitoba are temporarily suspending the connection of new crypto mining facilities to the power grid. The Canadian province, which relies heavily on hydroelectric generation and attracts miners with low electricity rates, fears it may face overwhelming energy demand. Manitoba...
Data Shows There’s No Profits Left for Bitcoin Miners That Can’t Obtain Cheap Electricity, Run Efficient Mining Rigs
30.11.2022
During the last few weeks bitcoin’s cost of production has been higher than the leading crypto asset’s spot market value and in turn, this has put massive pressure on bitcoin miners. On Nov. 30, 2022, statistics show if miners paying for electricity pay roughly $0.12 per kilowatt hour (kWh), only...
New York Governor Signs Law Partially Banning Bitcoin Mining on Fossil Fuels
23.11.2022
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 years as a result of the ban, which is likely to have...