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Mining worldwide: Where should crypto miners go in a changing landscape?
19.2.2022
Which nations are the new harbors of miners, and where can Ether and Bitcoin be successfully — and profitably — mined in 2022?
Georgia lawmakers consider giving crypto miners tax exemptions in new bill
18.2.2022
The state is expected to have 56,000 Bitmain miners operating by October as part of an agreement with Bitmain, ISW Holdings, and Bit5iv
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...
Crypto miners exempt from IRS reporting rules, US Treasury affirms
14.2.2022
The U.S. Treasury affirmed that crypto miners and wallet operators are exempt from the IRS reporting rules, preparing appropriate regulations
Students Mining Crypto in Dorms May Face Criminal Prosecution in Russia, Lawyer Says
11.2.2022
University students in Russia minting digital currencies in their dormitories risk penalties and even criminal charges, according to a legal expert quoted by local media. The warning comes as Russian authorities are trying to curb crypto mining with cheap energy in residential areas. Mining...
Kazakhstan President Orders Government to Find All Miners and Raise Tax by April
10.2.2022
President of Kazakhstan Kassym-Jomart Tokayev has instructed authorities to identify all crypto mining enterprises and increase the electricity surcharge they are required to pay. The state is not against legal mining activities, but crypto farms should be licensed and taxed, Tokayev insisted....
Kazakhstan Mulls Fivefold Increase of Electricity Tax on Crypto Mining
9.2.2022
Authorities in Kazakhstan are discussing new regulations for the country’s crypto space that may lead to a serious increase in the tax burden on the mining business. Among the proposed changes is a fivefold hike of the fee miners pay per each kilowatt-hour of utilized electricity. Mining...
New Taxes Await for Kazakhstan’s Beleaguered Bitcoin and Crypto Miners
8.2.2022
The government of Kazakhstan has unveiled a package of measures aimed at further taxing the nation’s Bitcoin (BTC) and crypto mining sector. The measures will involve tax hikes on electricity, a crackdown on unregistered miners, a tax on mining hardware, and the introduction of VAT charges...
Kazakhstan proposes power price hikes and taxes targeting crypto miners
8.2.2022
The central Asian country’s government has proposed three price increases to electricity and taxes specifically targeting crypto miners
Electricity Consumption Spikes in Irkutsk as More Russians Start Mining Cryptocurrency
7.2.2022
Electricity suppliers in the Russian region of Irkutsk have registered a surge in power consumption in residential areas which they are blaming on cryptocurrency mining. Planes with mining equipment from restricted China continue to land in the region, and cases of hardware theft have also...
Russians Mining Crypto to Pay at Least 15% Tax, Companies – No Less Than 6%, Lawmaker Says
6.2.2022
Private individuals mining cryptocurrency may expect a higher tax burden than businesses involved in the industry, a high-ranking member of the Russian parliament has indicated. While the extraction of digital currencies is yet to be regulated in Russia, authorities lean towards recognizing it...
Russian Association of Power Suppliers Proposes Measures to Prevent Home Mining
5.2.2022
The industry organization of Russian energy suppliers has come up with ideas on how to combat cryptocurrency mining in homes, basements and garages. The association believes the phenomenon is the main issue with mining in Russia as authorities prepare to legalize it. Suppliers Move Against Mining...
Demand for Mining Equipment Drops in Russia Amid Fears of Possible Ban, Report
4.2.2022
Platforms listing ads for mining hardware have been registering declining demand since Bank of Russia’s call for a ban on the minting of digital currencies among other crypto activities. While mining may eventually be legalized, miners can expect to pay higher electricity bills. Supply...
Kazakhstan Extends Power Cuts for Cryptocurrency Miners
3.2.2022
Crypto farms in Kazakhstan will remain unplugged until Feb. 7, as the local utility has extended power cuts for miners. The company points to ongoing difficulties with electricity supply as the main reason for the measure, which was supposed to expire at the end of January. Mining Facilities...
Report: Nvidia’s Lite Hash Rate Tech to Stop Crypto Miners ‘Was Pointless’
29.1.2022
In mid-May 2021, the American multinational technology company Nvidia Corporation revealed that it added a hashrate limiter to curb the use of cryptocurrency mining with its graphics processing units (GPUs). However, crypto miners now say the move was pointless, and the mining organization Nicehash...
Utility Seeks $800,000 From Russians Mining Crypto With Cheap Power
27.1.2022
The main utility company in Irkutsk is looking to collect almost $800,000 from owners of crypto farms that have allegedly caused a spike in electricity consumption in the Russian region. The supplier accuses the miners of burning cheap household electricity in what is, in fact, a business activity....
Kazakhstan Shuts Down Crypto Mining Farms Till February
26.1.2022
Data centers minting cryptocurrencies in Kazakhstan were cut off from the nation’s power grid this week and will remain unplugged for the rest of January. The measure comes as the country faces electricity shortages blamed on crypto mining and blackouts in the cold winter months. Crypto...
Fitch Ratings warns of risks crypto miners pose to US power supply
24.1.2022
“Crypto mining operations are price-sensitive entities that may be quickly scaled back or shut down if mining becomes uneconomical," said the agency
Decommissioned Power Plant in Armenia to Host Crypto Mining Farms
23.1.2022
Armenia is going to invite cryptocurrency miners to install their coin minting hardware in an old thermal power plant. The TPP will be decommissioned and the government intends to rent it out to industrial companies including mining enterprises. Miners Welcome to Set Up Data Centers at Old TPP...
Bitcoin & Crypto Miners Must Take Note as Davos Chiefs Say ‘Nobody Can Hide’ from ESG Standards
20.1.2022
Senior figures at the World Economic Forum (WEF) in Davos have agreed that Environmental, Social and Governance (ESG) standards are coming – and will soon apply to all industries. And furthermore, they suggested, even those who do not want a part of the ESG drive will eventually be left with...