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Latam Insights: El Salvador to Receive $1.61 Billion for Economic Overhaul Plan; Venezuelan Government Blocks Binance
18.8.2024
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the past week. In this issue: El Salvador attracts $1.61 billion in investments for its economic overhaul plan, the Venezuelan government blocks Binance using a state-owned ISP, and...
Paraguayan Justice System Achieves Conviction for Power Theft Crime Linked to Cryptocurrency Mining
16.8.2024
The Paraguayan justice system has reached a milestone by achieving its second conviction related to a power theft crime linked to cryptocurrency mining. Carlos Raul Rojas, the owner of a dwelling where over 1,000 cryptocurrency miners operated, was sentenced to 18 months in prison for causing over...
Bitfarms stock rises 22% after Q2 loss came out better than expectations
9.8.2024
Bitfarms stock had a strong trading session on Aug. 8 amid lower-than-expected losses in its latest quarterly earnings report
Bitfarms stock rises 22% after Q2 loss came out better than expectations
9.8.2024
Bitfarms stock had a strong trading session on Aug. 8 amid lower-than-expected losses in its latest quarterly earnings report
Russia legalizes Bitcoin and cryptocurrency mining
8.8.2024
Russia explores other forms of international trade settlement following US sanctions blocking it from the SWIFT interbank messaging system
Russia legalizes Bitcoin and cryptocurrency mining
8.8.2024
Russia explores other forms of international trade settlement following US sanctions blocking it from the SWIFT interbank messaging system
Paraguay’s Power Chief: No Cryptocurrency Mining Company Has Left Yet
5.8.2024
Felix Sosa, president of the National Power Administration of Paraguay (ANDE), has disregarded reports indicating that a mass exodus of cryptocurrency mining companies could be brewing. Sosa stated that no cryptocurrency company had left the country yet and that there were over 400 MW in projects...
Russia Advances Cryptocurrency Mining Bill
27.7.2024
Russia’s State Duma has advanced a bill to regulate cryptocurrency mining, aiming to curb illegal activities and promote investment and employment. Proposed by the chairman of the Duma Committee on Financial Markets and supported by key deputies, the bill mandates strict guidelines...
Potential Ban on Cryptocurrency Mining in Certain Regions Disrupts Regulatory Efforts in Russia
19.7.2024
The potential for a ban on cryptocurrency mining in regions classified as ‘energy deficient’ has hindered the ability to reach a consensus on the approval of cryptocurrency mining regulations in Russia. The proposed bill, which is expected to pass in August, would give authorities the power...
Paraguayan Senate Passes Law Imposing up to 10 Years of Jail Time on Crypto Miners for Electricity Theft
12.7.2024
The Paraguayan senate has passed a series of reforms that changed penalties for energy and cryptocurrency mining-related energy theft. Now, individuals and companies found to be stealing energy for cryptocurrency mining activities will face jail time for up to 10 years, while energy theft for other...
Core Scientific Partners With Block to Receive 15 EH/s in New Bitcoin Mining ASICs
12.7.2024
Core Scientific, a large U.S.-based bitcoin mining and hosting provider, and Block, a leading financial services firm, have partnered in a project to integrate the first 3nm bitcoin mining chips produced by the latter. Core Scientific will receive 15 exahash per second (EH/s) of Block’s...
Clandestine Bitcoin Mining Survives Government Ban in Venezuela, Albeit at Small Scale
10.7.2024
According to local reports, clandestine bitcoin mining is thriving again in Venezuela, albeit at a small scale after the government ordered to disconnect all Bitcoin mining operations from the power grid. Local ASIC stores are still selling miners for small operations, that survive by hiding their...
Riot Platforms Proposes Comprehensive Plan to Improve Bitfarms
9.7.2024
Riot Platforms Inc. (Nasdaq: RIOT) has proposed a comprehensive plan to improve Bitfarms Ltd. (Nasdaq: BITF) and has launched a website to detail this strategy. As part of its efforts to acquire Bitfarms, Riot has called for a special shareholders’ meeting to nominate three new directors:...
Rising Power Fees Begin to Drive Bitcoin Mining Companies From Paraguay to Argentina
8.7.2024
The recent increase in power fees enacted by the National Power Administration of Paraguay (ANDE) has bitcoin mining companies seeking alternatives in neighboring countries, such as Argentina and Brazil. A joint venture between Argentine and Brazilian companies recently announced an 8 MW initiative...
Corruption in Paraguay: Senator States Illegal Bitcoin Mining Farms Pay up to $500,000 to Operate Underground
6.7.2024
Salyn Buzarquis, a Paraguayan senator, blasted the National Power Administration of Paraguay (ANDE), stating that high-ranking officials charged illegal bitcoin mining farms for operating underground. Buzarquis stated these unnamed officials collected up to $500,000 in bribes monthly and called...
Marathon Digital Reports Increase in Hashrate, Holds 18,536 BTC
3.7.2024
Marathon Digital Holdings, Inc. released its unaudited bitcoin production and miner installation updates for June 2024. The company’s operational hashrate increased slightly, and its bitcoin holdings reached 18,536 BTC. Marathon Digital Reports June 2024 Bitcoin Production In June 2024...
Hong Kong Professor: China’s Crypto Mining Ban Shifts Businesses to US
3.7.2024
Professor Wang Yang, vice president for institutional advancement and chair professor at the Department of Mathematics at the Hong Kong University of Science and Technology (HKUST), criticized China’s cryptocurrency mining ban during a panel discussion in Hong Kong last week. He called the decision...
Paraguay Raises Bitcoin Mining Power Fees by 14%, Companies Mull Stopping Operations
2.7.2024
The National Power Administration of Paraguay (ANDE) has surprised cryptocurrency mining operators by raising power fees by 14%, affecting the profitability of these activities. The rise have already caused the exit of a company that planned to invest over $400 million in the country due to...
Russia’s Cryptocurrency Mining Bill Faces Delays
2.7.2024
The Russian State Duma is considering a bill related to cryptocurrency mining and sales, but the legislation is not expected to be approved by fall. The bill aims to legalize crypto mining and allow the sale of mined digital currency. Currently, cryptocurrency cannot be used for settlements...
Marathon Digital Expands Mining Operations to Include Kaspa
27.6.2024
Marathon Digital Holdings Inc. has diversified its mining activities by adding kaspa (KAS), a proof-of-work digital asset, to its portfolio. The initiative has already yielded significant results, with the company mining 93 million KAS, valued at approximately $15 million as of June 25, 2024....