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2020 Monsoon Season and Dam Stress Threatens Chinese Bitcoin Miners
24.7.2020
Digital currency proponents have been discussing the 2020 monsoon season in East Asia and how there’s a possibility it could wreak havoc on large bitcoin mining operations located in China. Recent estimates note that China has 50% of the world’s bitcoin mining capacity but if mining...
Chinese Government Crackdowns and Cheap Hydropower- Miners Migrate from North to South China
4.6.2020
China-based bitcoin miners have started to migrate southbound from North China, according to local reports. The operators are having difficulties and are transitioning mining facilities for cheap hydro-powered electricity. Testimonials also show that 64 mining operations in the prefecture in Yunnan...
Malaysian Electric Utility Raids 33 Illicit Bitcoin Mining Facilities
7.8.2019
Major Malaysian electric utility Tenaga Nasional Bhd has fallen victim to an illegal cryptocurrency mining operation, which resulted in a $760,736 loss
Bitcoin Mining Helps Oil Companies Reduce Carbon Footprint
19.7.2019
Natural gas acquired as a byproduct of oil extraction has become synonymous with wasted energy. In certain areas, drilling companies are unable to find a profitable market for the excess fuel. It’s often vented into the atmosphere. Startups are now offering on-site systems that utilize...
Iranian Energy Grid Blames 7% Consumption Increase on Bitcoin Miners
25.6.2019
Mostafa Rajabi Mashhad, the spokesperson for Tavanir, an Iranian state-operated grid entity, has explained that electrical consumption has spiked by 7% in comparison to the previous year. Rajabi blames illegal cryptocurrency mining operations for the country’s increased electrical consumption...
Traders Are Now Banned From Using Localbitcoins Exchange in Iran
24.5.2019
Traders from Iran have been banned from using the peer-to-peer trading platform Localbitcoins.com within the country. The Iranian section of the website displays a short message that states that the exchange is “currently not available.” The news follows significant Iranian rial trade...