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Regulator Reiterates Call for EU Ban on Proof-of-Work Mining
20.1.2022
The EU should prohibit proof-of-work crypto mining, an executive at the European securities watchdog has insisted. Coins relying on the energy-intensive method of minting pose a risk to efforts aimed at meeting climate change goals such as those set in the Paris Agreement, the regulator says....
Georgia Goes After Crypto Miners Using Subsidized Electricity in Historic Town
13.1.2022
A record high consumption of electricity blamed on illegal crypto farms in northwestern Georgia has caught the attention of authorities in the capital Tbilisi. The central government and the local utility are taking on the issue of dealing with power shortages in the mountainous region of Svaneti....
Kazakhstan Is Stabilizing, Government Claims as Crypto Miners Look to Future in Country
10.1.2022
The situation across Kazakhstan, hit by anti-government protests in the first week of the year, is normalizing, central authorities claim. The country’s massive crypto mining industry, which faced an internet blackout during civil unrest on top of power shortages, now hopes that the country...
Kazakhstan Shuts Down Banks, Internet Amid Unrest That Threatens Bitcoin Mining, Hashrate
6.1.2022
Measures imposed by authorities to quell mass protests in mining hotspot Kazakhstan are affecting cryptocurrency markets and the Bitcoin network hashrate. To deal with the civil unrest caused by rising fuel prices and a worsening economy, the government restricted access to the internet and closed...
Canaan Expands Mining Operations in Kazakhstan Amid Power Deficit, Protests
6.1.2022
Hardware manufacturer Canaan is expanding its crypto mining operations in Kazakhstan. The company is now cooperating with a number of mining firms there and has already deployed over 10,000 pieces of hardware despite the country’s challenges with electricity supply. Increased energy prices...
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...
Kazakhstan Mulls Nuclear Power to Deal With Electricity Shortages Blamed on Crypto Miners
31.12.2021
The government in Kazakhstan is considering building a nuclear power plant to overcome an electricity deficit allegedly caused by the booming crypto mining industry. Problems with power supply are driving away miners that saw the Central Asian country as a new home when China recently cracked down...
Iran Allows Renewable Power Plants to Supply Crypto Miners With Electricity
30.12.2021
Authorities in Iran have decided to permit power generation plants using renewable sources to sell electricity to licensed cryptocurrency miners. The move comes after the government asked mining companies to suspend activities in order to avoid winter blackouts. Crypto Miners in Iran to Mint...
Power Deficit Forces Crypto Miners to Leave Kazakhstan
29.12.2021
Electricity shortages have been dogging Kazakhstan’s booming crypto mining industry this year. A media report reveals that some miners, including some of those that moved in amid China’s crackdown on the sector, are now looking to relocate to destinations with a more stable energy...
Iran Orders Crypto Miners to Halt Operations to Prevent Winter Blackouts
26.12.2021
Authorities in Iran have again told licensed miners to suspend their activities in the face of electricity shortages during the cold winter months. Following a period of similar restrictions this past summer, authorized companies were allowed to resume mining in September. Crypto Mining Farms...
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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Demand for Mining Hardware Spikes in Russia, Prices Rise
19.12.2021
The market for crypto mining equipment in Russia has seen strong interest from buyers of both new and used devices, retail data indicates. This year, demand for application-specific integrated circuit (ASIC) machines has multiplied exponentially while video cards have been in short supply leading...
Illegal Crypto Miners Threatened With Jail Time in Russia
17.12.2021
Cryptocurrency miners that are illegally connecting their equipment to the power grid should go to prison, says a Russian lawmaker who recently announced that his nationalist party is working on draft legislation to regulate the crypto activity. The industry cannot rely on support from the state...
Russian Crypto Miners Tell Lawmakers: ‘Hurry up and Legalize Our Industry’
16.12.2021
Russian crypto miners say they want their industry to be legalized – and hope that official status could help them avoid spats with power providers.
Lenta reported that the situation for miners in the Irkutsk Oblast in Siberia has deteriorated of late....
Read More: Russian Crypto Miners Tell...
Court Decision Voids Crypto Mining Contracts in China, Shuts Down Bitcoin Farms
16.12.2021
A court in Beijing has ruled that three investment agreements for bitcoin mining operations in Sichuan are “invalid.” A compensation claim has been rejected in the case, viewed as an indication that the Chinese judiciary would not provide protection for crypto-related interests....
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...
Iceland Refuses to Power New Bitcoin Farms Amid Electricity Shortages
9.12.2021
Cryptocurrency mining is among several energy-intensive industries hurt by a power deficit in Iceland. The country’s main utility is now rejecting requests to connect new coin minting facilities to the grid, after cutting supply to aluminum smelters and fish factories. Iceland Turns Away...
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...
Elizabeth Warren Queries Bitcoin Mining Operation, US Senator Says Crypto Miners Raise Environmental Concerns
4.12.2021
Senator Elizabeth Warren has written a letter to the CEO of the New York bitcoin mining firm Greenidge Generation, Jeff Kirt, asking for details on the company’s emissions. Warren’s letter insists “Greenidge and other [bitcoin mining] plants raise concerns about their impacts...