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Daily Raids on Crypto Farms as Abkhazia Intensifies Mining Crackdown
12.2.2023
Authorities in Abkhazia are stepping up efforts to clamp down on cryptocurrency mining amid electricity shortages in the winter months. The government of the breakaway Georgian region announced it’s also taking measures to prevent imports of mining equipment. Abkhazia Creates Headquarters to Combat...
Blockstream Secures $125 Million in Funding for Bitcoin Mining Operations
25.1.2023
Digital asset infrastructure firm Blockstream has secured $125 million in funding aimed at expanding its bitcoin mining facilities.
Blockstream has received the funding in convertible note and secured loan financing, the company announced in a Tuesday press release, adding that it plans to...
Blockstream raises $125M to finance expanded Bitcoin mining operations
24.1.2023
Bitcoin miners came under significant pressure during the bear market; however, Blockstream said institutional hosting customers were more “resilient.”
Challenging Year for Bitcoin Miners as Fewer BTC Mining Rigs Are Profitable at Current Prices
31.12.2022
Bitcoin miners have had a challenging year as the network’s mining difficulty reached an all-time high and the spot market price of bitcoin dropped below the cost of production. Currently, with electricity costs at $0.07 per kilowatt-hour (kWh), only 18 application-specific integrated...
2 Bitcoin Mining Pools Command More Than 53% of BTC’s Total Hashrate
29.12.2022
Bitcoin’s hashrate has jumped from the low 170 exahash per second (EH/s) recorded this week, to above the 300 exahash range after a number of bitcoin mining operations from Texas temporarily went offline on Dec. 25, 2022. Furthermore, three-day hashrate distribution statistics recorded...
British Columbia Imposes 18-Month Moratorium on New Crypto Mining Operations
22.12.2022
This is the third Canadian province to limit the industry's growth as it looks to preserve capacity for communities
Core Scientific Files for Bankruptcy Protection, Firm Plans to Continue Mining Bitcoin to Pay Down Debt
21.12.2022
On Dec. 21, 2022, one of the largest bitcoin mining operations in the industry, Core Scientific, filed for Chapter 11 bankruptcy protection in the Southern District of Texas. According to the filing, Core Scientific has roughly 1,000 to 5,000 creditors and its estimated assets are worth between...
Massachusetts Senator Forwards Bill Aimed at Forcing Crypto Miners to Report Greenhouse Gas Emissions
9.12.2022
On Dec. 8, 2022, three Democratic politicians from Massachusetts, Oregon, and California revealed legislation aimed at combatting “energy-intensive” cryptocurrency mining operations. The bill introduced by senator Ed Markey (D-MA) alleges that crypto mining “strains...
Applied Direct Response — ERCOT Study Shows Bitcoin Mining Is Beneficial to the Texas Grid
3.12.2022
On Nov. 29, 2022, The Electric Reliability Council of Texas (ERCOT) published a report on seasonal assessment and resource adequacy for the ERCOT region. ERCOT’s study indicates that bitcoin mining operations are flexible operations that can be beneficial to the Texas grid during the upcoming...
Cryptocurrency Law Approved in Brazil — Green Mining Tax Exemptions and Asset Segregation Issues Left Out
1.12.2022
A cryptocurrency law, which had been in discussion for several months, has been approved by the Chamber of Deputies in Brazil after having shed some of the changes presented by the Senate. The proposal left out two planned tax exemptions for green mining operations and the issue of segregating...
Manitoba Halts New Crypto Mining Projects Due to Expected High Energy Demand
1.12.2022
Authorities in Manitoba are temporarily suspending the connection of new crypto mining facilities to the power grid. The Canadian province, which relies heavily on hydroelectric generation and attracts miners with low electricity rates, fears it may face overwhelming energy demand. Manitoba...
New York Governor Signs Law Partially Banning Bitcoin Mining on Fossil Fuels
23.11.2022
A moratorium on some crypto mining operations relying on carbon-based energy has been signed into law in New York. Businesses engaged in proof-of-work mining in the state will not be able to expand or renew their permits for the next two years as a result of the ban, which is likely to have...
Paraguay Warns About Growth of Illegal Bitcoin Mining Operations and Effect on Power Stability of the Country
31.10.2022
The growth of illegal bitcoin mining operations could affect the stability of the power system in Paraguay, according to statements from the National Power Administration. The boom the country is experiencing is taking its toll on the power system, with many miners plugging in illegally...
Bitcoin’s Hashrate Remains Stronger Than Ever in the Face of Crypto Winter Prices and Sky High Difficulty
22.10.2022
Despite the fact that bitcoin miners are getting bare minimums in profits per petahash per second (PH/s), and the myriad of headlines showing specific mining operations folding from the crypto winter, the network’s total hashrate continues to chug along at close to 300 exahash per second...
Bitcoin Miner Pow.re Begins Mining Facility Construction in Paraguay, Acquires 3,600 Microbt ASICs
14.10.2022
According to the crypto mining operation Pow.re Holdings Limited, the firm announced that it has begun construction of two new mining facilities in Asunción, Paraguay. The new data centers will manage 12 megawatts (MW) of hydroelectric power, and the firm has also acquired 3,600 Microbt Whatsminer...
US Lawmakers Send Inquiry to ERCOT CEO Over Texas Crypto Mining and Its Effects on the So-Called Climate Crisis
13.10.2022
A number of Democratic U.S. policymakers have written a letter to the CEO of the Electric Reliability Council of Texas (ERCOT) in order to inquire about the cryptocurrency mining operations in the state. The letter that stems from senator Elizabeth Warren’s office says that the lawmakers...
Bitcoin Miner Greenidge Seeks to Raise $22.8 Million in Class A Common Stock Proposal
7.10.2022
The bitcoin mining operation Greenidge Generation is seeking to raise roughly $22.8 million, according to a U.S.Securities and Exchange Commission (SEC) filing published Wednesday. According to the prospectus disclosing information, the New York-based Greenidge conducted a sales agreement with...
Federal Energy Agencies’ Unwillingness to Act on White House’s Crypto Mining Recommendations Miffs US Lawmaker
5.10.2022
Jared Huffman, a United States lawmaker who advocates for increased scrutiny of crypto-mining entities, has reportedly chastised U.S. energy agencies that he accuses of failing to act on the White House’s call on them to do “reliability assessments of current and projected...
Argentine Oil Subsidiary YPF Luz Powering Bitcoin Mining Activities With Residual Gas
4.10.2022
YPF Luz, a subsidiary of the Argentine state oil company YPF, is currently piloting a project to power bitcoin mining operations with residual gas. The initiative, which is currently being tested in Vaca Muerta, one of the biggest oil fields in the country, seeks to take advantage of this byproduct...
Bitcoin Mining Industry Reveals Mergers, Hashrate Increases, and New Facilities Amid Market Downturn
29.9.2022
While bitcoin is down more than 72% from the crypto asset’s all-time high, bitcoin mining operations are expanding at a rapid pace during the downturn. On Tuesday, the bitcoin miner Cleanspark said its hashrate has surpassed 4 exahash per second (EH/s), and the Texas mining company Rhodium...