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Mining Bitcoin on Household Electricity Most Profitable in Asia, Study Finds
21.8.2023
Despite significant variations in electricity rates and regulations, the Asian region as a whole has the lowest average cost of bitcoin mining for solo miners, new research shows. At the same time, the surge of energy prices due to Covid, heatwaves, and the war in Ukraine render bitcoin mining...
Crypto Mining Crackdown in Malaysia: Sarawak Police and Energy Plant Dismantle Illegal Mining Operation
31.7.2023
A covert cryptocurrency mining operation, suspected of electricity theft, was uncovered in a Marina Square shophouse in Miri, Malaysia. Representatives from the Sarawak police and Sarawak Energy plant revealed that the successful operation was made possible by a tip-off from the public....
Bitcoin Mining in 2023: 18 Profitable ASIC Devices and the Dominance of Three Major Manufacturers Revealed
16.5.2023
According to statistics from mid-May 2023, 18 different application-specific integrated circuit (ASIC) bitcoin mining devices are profitable using today’s bitcoin exchange rates. Additionally, the top bitcoin mining machines today are made by three prominent ASIC manufacturers,...
Terawulf Energizes First Nuclear-Powered Bitcoin Mining Facility in the US, Plans to Expand Operations
6.3.2023
Terawulf, a bitcoin mining operation, has announced that it has energized the first nuclear-powered bitcoin mining facility in the United States at the company’s Nautilus Facility in Pennsylvania. According to the company, approximately 1 exahash per second (EH/s) or close to 8,000...
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...
Russia’s Anti-Monopoly Agency Proposes Higher Electricity Rates for Home Crypto Miners
7.5.2022
The anti-monopoly service of Russia has suggested that Russians minting digital currencies at their homes should pay more for the spent electrical energy. The proposal comes after the submission of a bill tailored to regulate cryptocurrency mining to the Russian parliament. Russian Miners Using...
Chinese Provinces Tighten Crypto Crackdown – Despite Setting New Electricity Rates for Miners
25.2.2022
A number of Chinese provinces have increased the rate at which crypto miners must pay for electricity – despite the fact that mining has been outlawed in the nation....
Read More: Chinese Provinces Tighten Crypto Crackdown – Despite Setting New Electricity Rates for Miners
Russia’s Economy Ministry Calls for Introducing ‘Acceptable’ Electricity Rates for Miners
17.2.2022
The Ministry of Economic Development of Russia has suggested that crypto mining should be allowed in energy-rich regions and miners provided with access to inexpensive electricity. The department has joined calls to legalize the industry and utilize Russia’s strengths as a mining...
Power Outages in Russia’s Irkutsk Region Blamed on Home Miners
2.1.2022
Russians mining cryptocurrency in their homes have been blamed for the problems with the electricity supply in Irkutsk. Power outages have become a frequent occurrence in the region which maintains the lowest electricity rates in Russia. Subsidized household energy has turned mining into a source...
Russian Government Allows Regions to Raise Electricity Rates for Crypto Miners
25.12.2021
The federal government in Moscow has permitted regions to determine local electricity tariffs for the population, a measure that will affect crypto mining at homes. Subsidized household electricity in Russia is often used to mint digital currencies in basements and garages. Regions in Russia...
Russian Provinces Free to Make Crypto Miners Pay Higher Electricity Rates, Says Gov’t
24.12.2021
Crypto miners in Russia could be set to pay higher electricity fees in 2022, but the development could allow miners to ply their trade without further scrutiny from energy providers – who may even assist them in setting up their operations in ways that place less strain on local grids....
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Power Utility Sues Russians Mining Cryptocurrency at Their Homes, Raises Electricity Rates
12.12.2021
A Russian power utility has found a way to increase electricity prices for consumers mining cryptocurrency using household electricity. The regional distribution company has taken dozens of amateur miners to court and has already won some of the cases. Power Utility Goes After Crypto Miners Using...
China’s Hainan Province Ramps Up Crackdown on Crypto Mining Operations
5.12.2021
The province of Hainan in South China has taken steps aimed at curbing crypto mining activities. Besides blacklisting the industry, local authorities are also introducing higher electricity rates for the mining enterprises that continue to operate in the region. Hainan to Ensure Crypto Miners...
Norway Mulls Backing Sweden’s Call for Euro Ban on Crypto Mining
19.11.2021
The government in Norway is considering ways to limit the environmental impact of cryptocurrency mining and may support Swedish proposals to that end, including a European ban on proof-of-work mining. The European Commission has revealed it is already working to promote a transition to “more...
China Targets Crypto Mining at State-Owned Enterprises, Threatens Punitive Measures
17.11.2021
Authorities in China are continuing to crack down on activities linked to cryptocurrencies which they consider illegal. The country’s top economic planning body has clearly indicated it intends to go after large-scale cryptocurrency mining taking place at government-operated industrial...
Kazakhstan Expects $1.5 Billion From Crypto Mining in 5 Years, Estimates Suggest
29.10.2021
Crypto miners now bring more than $230 million into the economy of Kazakhstan each year and estimates show the figure could increase significantly in the future. The industry’s leading organization has projected that the government can collect more than $300 million in taxes over the next...
Taxes, Higher Electricity Rates Coming for Russian Bitcoin Miners - Lawmaker
20.10.2021
The parliamentarian charged with creating Russia’s crypto regulation has hinted that crypto mining tax could be coming – while the days of rock-bottom energy prices for miners across the whole CIS region appear to be coming to an end.
Per Finworld, Anatoly Aksakov, the head of the State Duma’s...
Russia, Belarus Move to Introduce Special Electricity Tariffs for Crypto Miners
18.10.2021
Authorities in Belarus and the Russian Federation are taking steps to separate cryptocurrency miners from other groups of power users and deny them access to subsidized energy. This could lead to the adoption of differentiated electricity rates for businesses involved in digital coin minting...
Kyrgyzstan Raises Electricity Rates for Cryptocurrency Miners
3.10.2021
The government of Kyrgyzstan has recently revised its electricity tariffs for various groups of consumers. Authorities in Bishkek have raised the rates at which crypto mining businesses buy power citing the energy-intensive nature of the coin minting process. Crypto Miners in Kyrgyzstan to Pay More...
Crypto Miners Blamed for Power Supply Deficit in Kazakhstan, Government Mulls Restrictions
3.10.2021
Kazakhstan is facing electricity shortages and cryptocurrency mining has been singled out as the main culprit. Amid an ongoing crackdown in China, the Central Asian nation has become a magnet for crypto miners who are taking advantage of its low electricity rates. Republic of Kazakhstan Sees...