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Thailand Authorities Seize Over $5M Worth of Crypto Mining Devices in Electricity Theft Investigation
29.4.2024
Thai authorities recently cracked down on a crypto mining operation suspected of stealing electricity. The raid in Samut Sakhon and Ratchaburi netted over 650 mining devices valued at more than $5m.
The post Thailand Authorities Seize Over $5M Worth of Crypto Mining Devices in Electricity Theft...
Malaysian State Records Largest Number of Power Theft Cases Linked to Crypto Mining
23.4.2024
Sarawak state of Malaysia's Miri region has accounted for more than half of power theft cases linked to crypto mining since 2018.
The post Malaysian State Records Largest Number of Power Theft Cases Linked to Crypto Mining appeared first on Cryptonews
Kenyan Volcano Turns on Lights in Rural Homes with Jack Dorsey’s Bitcoin Mining Support
21.4.2024
In a remote region of Kenya, a group of Bitcoin miners has found an innovative way to power their operations and bring electricity to rural homes.
The post Kenyan Volcano Turns on Lights in Rural Homes with Jack Dorsey’s Bitcoin Mining Support appeared first on Cryptonews
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
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
Why Finland Could be Europe’s Next Crypto Mining Giant
22.2.2024
Finland is emerging fast as an attractive place for crypto mining due to its relatively cool climate, which helps with cooling mining rigs, and its abundant renewable energy sources.
The post Why Finland Could be Europe’s Next Crypto Mining Giant appeared first on Cryptonews
New Crypto Mining Sensation BlockDAG Coin Expected to Surge 100x to $0.05, Beats Bitcoin and Litecoin Returns
14.2.2024
Crypto mining has quickly gone from an obscure industry to an industry so big that Bitcoin (BTC) mining alone consumes over 0.6% of the United States’s electricity, not to mention other minable coins such as Litecoin (LTC). Similarly to investing in energy stocks, mining crypto pits the allure...
Cheap Energy Cost Fuels Chinese Bitcoin Miners Migration to Ethiopia
12.2.2024
Ethiopia has become a lucrative destination for Bitcoin miners with lower energy costs and friendly government policies driving the move. According to Bloomberg, Bitcoin miners from China and other countries are setting up shop in the East African country followed by energy deals with electricity...
EIA Launches ‘Emergency Survey’ on Crypto Mining’s Power Use Amid Concerns of Alleged ‘Public Harm’
1.2.2024
The U.S. Energy Information Administration (EIA) has gained clearance from the Office of Management and Budget (OMB) to conduct an urgent survey regarding electricity usage by cryptocurrency mining firms across the U.S. The EIA submitted this request on the grounds that “public harm...
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...
AI and Crypto Mining to More Than Double Energy Use by 2026, Report Says
26.1.2024
Source: Adobe / Timon The International Energy Agency (IEA) anticipates substantial increases in energy consumption from crypto mining and artificial intelligence (AI) in the coming years, with projections suggesting a more than 30% surge by 2026. The IEA’s Electricity 2024 report outlines...
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...
Subzero Temperatures in Texas Impact Bitcoin Hashrate Amidst Energy Strains
18.1.2024
As Texas grapples with unexpected subzero temperatures, the state’s bitcoin mining operations have shut down due to high energy demand. This has freed up much needed electricity capacity in the state, while also leading to a sharp drop in the global Bitcoin hashrate. Bitcoin Mining in Texas...
Indonesian Authorities Crack Down on Bitcoin Miners Stealing Electricity From National Grid
29.12.2023
The thieves allegedly tapped into utility poles of a state-owned energy firm to power mining operations
eTukTuk Boosts Drivers’ Income by Up to 400% – What’s in it for Investors?
23.12.2023
Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content. eTukTuk is a holistic EV (electric vehicles) ecosystem designed specifically for developing economies. In addition to three-wheeler taxis that run on electricity, it consists of a blockchain...
US Ambassador to Argentina Hails Bitcoin Miner’s ‘Genius’ Flared Gas Power Generation Plans
18.12.2023
The U.S. Ambassador to Argentina, Marc R. Stanley, has lauded Unblock Computing’s bitcoin mining initiative for its innovative use of flared gas in generating electricity. Ambassador Stanley commended the plan for its dual benefits: aiding Argentina in achieving its climate objectives...
Minnesota Power Co-op Accuses Couple of Major Electricity Theft for Bitcoin Farm Operation
5.12.2023
In a case that intertwines crypto mining and utility theft, a Minnesota power company, North Star Electric Cooperative, has accused a former couple, Ryan Jaenicke and Tina Fehlhaber, of stealing vast amounts of electricity. The alleged scheme, detailed in a 19-page civil suit filed in Roseau County...
Report: Bitcoin Miners’ Revenue Down by More Than 30% in the Last 6 Months
2.12.2023
In the past six months, Bitcoin miners’ revenue has dropped by more than 30%, with November revenues approximately $270 million lower than October revenues. The drop in Bitcoin miners’ revenue is attributed to Bitcoin price volatility, increased competition, and higher electricity...
Study Reveals Bitcoin Mining as a Catalyst for Renewable Energy Growth and Flexible Load Systems
28.11.2023
A recently published working paper, collaboratively authored by industry experts, examines the critical influence of bitcoin mining in promoting worldwide clean energy efforts and stabilizing electricity grids. This paper probes into the utility of mining as a flexible and versatile instrument...