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Latam Insights: Bitcoin Hurts El Salvador Credit Opportunities, Paraguay Supports Selling Power to Crypto Miners
15.4.2024
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Bitcoin hinders El Salvador’s credit talks with the IMF, the Paraguayan Senate issues a statement supporting bitcoin miners, and Venezuela unveils...
British Columbia Province to Regulate Electricity Supply for Crypto Miners
12.4.2024
Canadian province of British Columbia is seeking to regulate cryptocurrency mining electricity use, due to its “unchecked growth.”
The post British Columbia Province to Regulate Electricity Supply for Crypto Miners appeared first on Cryptonews
Crypto Miners Run Down Bitcoin Inventory to 3-Year Low in a Strategic Pre-Halving Move
10.4.2024
Bitcoin miners have been running down inventory in a rising market, moving away from the accumulation strategy seen ahead of prior halving in May 2020
Crypto Caverns’ Industry-First Hashrate Guarantee Program Promotes Transparency in Crypto Mining
19.3.2024
In the world of crypto mining hosting, concerns about companies prioritizing their own interests over their clients’ needs are not uncommon. Many of these companies seem to drag their feet when it comes to repairing client hardware, resulting in significant losses for their customers. Rufus...
Biden’s Budget Proposal for 2025 Rekindles Discussion of 30% Electricity Tax for Crypto Miners
12.3.2024
President Joe Biden has reignited the debate surrounding the imposition of a 30% tax on electricity used by cryptocurrency miners in a budget proposal for 2025.
The post Biden’s Budget Proposal for 2025 Rekindles Discussion of 30% Electricity Tax for Crypto Miners appeared first on Cryptonews
Crypto Miners Still Selling Their Bitcoin as Reward Halving Looms, Blockchain Data Show
29.2.2024
The number of bitcoin held in wallets tied to miners has dropped to the lowest since mid-2021
Texas Electric Utility Courts Unnamed Crypto Miners With Five-Year Deals
18.2.2024
In a recent report, the community-driven, nonprofit electric provider in Texas, Denton Municipal Electric (DME), is attracting interest from several crypto mining companies seeking to establish operations. These companies are eyeing a five-year agreement for powering their mining activities....
Bitcoin ETFs Pose Long-Term Threat to Public Crypto Miners: Galaxy
15.2.2024
Spot Bitcoin ETFs present long-term competition for publicly traded cryptocurrency miners, according to a Galaxy Research report published Wednesday. Galaxy analysts said that before these ETFs were approved, public mining stocks were one of the few ways investors could gain exposure to Bitcoin...
U.S. Drilling Down on Crypto Miners' Energy Use Draws Ire From Community
1.2.2024
The Energy Information Administration (EIA) is starting a survey to track the electricity consumption of crypto miners in the U.S
US Gets Serious About Tracking Crypto Mining Electricity Usage
1.2.2024
A US government agency responsible for managing energy-related data is going after crypto-mining companies over their power consumption. The Energy Information Administration (EIA) said on Wednesday that it will collect electricity consumption data from identified US-based crypto mining companies...
Russian Crypto Miners Blamed for Siberia Power Outages
26.1.2024
Russian power providers say crypto miners are to blame for “mass” electricity outages during recent cold snaps. Per Interfax, Rosseti Siberia, the local branch of the state-run power provider Rosseti, “recorded an increase in the volume of illegal mining at the end of 2023 in a number of regions...
Russian Crypto Miners Fume at Moscow’s Plans to Raise Their Electricity Tariffs
25.1.2024
Russia’s biggest crypto mining industry association has hit out at Moscow’s plans to increase electricity tariffs for miners. The Ministry of Energy wants miners to fork out between two and five times more than they currently pay. As mining is not yet classified as a state-recognized form...
Blackout Fears as Russia’s Dagestan Energy Provider Begs Crypto Miners to Turn off Rigs
18.1.2024
Source: Tatyana Olina/Adobe The state-run power provider in the Russian republic of Dagestan has asked crypto miners to turn off their rigs this winter to avoid power outages and blackouts. In a Telegram post politely addressed to operators of “mining farms,” Dagenergo asked miners...
Leading Crypto Miners Riot, TeraWulf, CleanSpark Brace for 2024 Bitcoin Halving
16.1.2024
Leading cryptocurrency miners are bracing themselves for the challenges ahead as the mining industry prepares for a major transformation with the 2024 Bitcoin (BTC) halving event. Asset manager CoinShares analysis suggests that Riot (NASDAQ: RIOT), TeraWulf (NASDAQ: WULF), and CleanSpark...
Crypto Miners’ Bitcoin Reserves Hit Lowest Level Since May Amidst Increased Selling Pressure
30.12.2023
Source: AdobeStock / Photocreo Bednarek Bitcoin miner reserves have reached their lowest point since May, signaling increased selling pressure as the largest cryptocurrency records a December gain of more than 13%. Data from CryptoQuant indicates that Bitcoin miners’ reserves have been...
Kyrgyzstan Raises $1m from Crypto Mining Taxes in 2023
29.12.2023
Source: chekart/Adobe Kyrgyzstan is quietly becoming a force in crypto mining, with its government set to raise over $1 million this year from taxing the industry. According to the media outlet 24KG, the nation’s finance ministry reported that it had raised $900,000 worth of tax revenue from crypto...
Government of Russia Eyes Commodity-Like Crypto Exports
16.12.2023
The government of Russia might allow crypto miners to sell their cryptocurrency like other exports such as gas. Ivan Chebeskov, deputy minister of finance, specified that this option was part of a bill to legalize cryptocurrency mining introduced in 2022, that could allow miners to proceed with...
Crypto Advocates Mention Bitcoin Mining as a “Critical Tool” for Clean Energy and Balancing Grid
28.11.2023
Source: AdobeStock / Photocreo Bednarek A number of crypto advocates have emphasized the significance of Bitcoin (BTC) mining as a “critical tool” for clean energy usage and grid balancing. In a recently published working paper titled “Leveraging Bitcoin Miners as Flexible Load...
Digital Asset Miner Hut 8 Reports 44% Increase in Carbon Credits Amid Sector’s Energy Consumption – Mining Making a Comeback?
21.11.2023
Source: AdobeStock / Photocreo Bednarek Cryptocurrency miner, Hut 8 partnered with Sparta Group’s ERS International to establish neutral carbon emissions in 2025 and has recorded massive wins this year. The Canadian-based crypto miner joined the carbon credit program with a vision toward 2025...
Russian Trade Ministry ‘Develops Tool That Lets Crypto Miners Evade Sanctions’
15.11.2023
Source: Oksana/Adobe Russia’s trade ministry says it has developed a tool that can help crypto miners evade Western sanctions. In a DumaTV post on the RuTube video-sharing platform, lawmakers explained that the Ministry of Industry and Trade had “developed a tool for conducting industrial mining...