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Crypto Miners Blamed for Power Supply Deficit in Kazakhstan, Government Mulls Restrictions
3.10.2021
Kazakhstan is facing electricity shortages and cryptocurrency mining has been singled out as the main culprit. Amid an ongoing crackdown in China, the Central Asian nation has become a magnet for crypto miners who are taking advantage of its low electricity rates. Republic of Kazakhstan Sees...
Tehran Stock Exchange Head Resigns Over Mining Rigs Found at Organization’s Office
1.10.2021
The director of Tehran’s Stock Exchange has resigned from his post following the discovery of cryptocurrency mining rigs in his organization’s basement. The scandal has erupted as licensed crypto miners in Iran are reportedly resuming operations amid fears of new restrictions in...
China’s Hebei Province Begins Crackdown on Crypto Mining and Trading, Reports Reveal
16.9.2021
Authorities in the Chinese province of Hebei have reportedly launched a campaign against cryptocurrency mining and trading. According to a quoted announcement by the region’s cyberspace administration, a number of government agencies are working together to prevent the use of...
Iranian Ministry of Industries Denies Power Shortages Are Caused by Illegal Crypto Miners
2.9.2021
Iran’s Ministry of Industries, Mining and Trade has rejected claims blaming illegal cryptocurrency miners for the continuing electricity shortages in the country. The department believes the state-run utility company, Tavanir, has overestimated their role in the power deficit. Illegal Miners...
Lukashenko Urges Belarusians to Mine Cryptocurrency Rather Than Pick Strawberries Abroad
29.8.2021
President Alexander Lukashenko has advised workers to stay in their home country instead of emigrating to fill low-paid farming jobs in Poland and Germany. The Belarusian leader pointed to an alternative source of income, noting there’s enough electricity in Belarus to power cryptocurrency...
GOP lawmakers want Bitcoin miners to be exempted from proposed crypto taxes
3.8.2021
Republican members of Congress want assurances that Bitcoin miners and crypto software developers will not be subject to the newly proposed tax rules
IT Specialist Caught Mining Cryptocurrency at Police Headquarters in Poland
1.8.2021
Polish police have uncovered a secret crypto mining operation at their headquarters in Warsaw, local media reported. An IT specialist accused of minting digital coins on police computers has been dismissed and the case has been handed over to the Prosecutor’s Office. Polish Police Force Fires...
Iran Raises Alarm Over Potential Influx of Miners From China
28.7.2021
With the government in Beijing cracking down on their operations, Chinese miners have been on the lookout for other jurisdictions. Providing low-cost energy, Iran has emerged as a prospective destination. However, the country’s state-owned power utility has expressed concerns over a possible...
Russian Crypto Industry Scrambles to Attract Miners as Kazakhstan Overtakes Russia in Mining Volume
19.7.2021
An industry association representing the Russian crypto sector has launched a project to entice bitcoin miners. Despite its abundant sources of cheap energy, Russia is now lagging behind Kazakhstan, another Eurasian Economic Union member, in terms of cryptocurrency production. Russian Project Aims...
China’s Anhui Province to Shut Down Crypto Farms as Grid Operator Issues Closure Notice, Reports
14.7.2021
Anhui has reportedly become China’s latest region planning to end cryptocurrency mining. The province is going to shut down all mining facilities due to power supply shortages, according to local media. Another source revealed that the state-run network operator has issued a closure notice...
93K Users Scammed Into Buying Fake Cryptocurrency Mining Apps
9.7.2021
Thousands of users were scammed into buying fake Android cryptocurrency mining apps, according to a California-based security firm. These apps are advertised as a way of earning money via mining cryptocurrencies, but in actuality they don’t perform any function. Instead, they charge the user...
‘We Want You,’ Pro-Bitcoin Senator Cynthia Lummis Invites Crypto Miners to Wyoming
4.7.2021
U.S. lawmaker and bitcoin advocate Cynthia Lummis has indicated that cryptocurrency miners are welcome in Wyoming. In a recent interview, the senator defended bitcoin’s carbon footprint and later invited miners to her home state on social media. Crypto Mining Adapted to Non-Carbon Emitting...
Shanghai Man: Fight crypto like COVID-19 urges Global Times, hydro power plants popular ...
2.7.2021
The country celebrates 100 years of Communist Party rule, pressure may be released as the economy goes back to status quo, Beijing subway now trialing e-CNY
Kazakhstan Introduces Surcharge for Electricity Used by Crypto Miners
1.7.2021
Cryptocurrency miners in Kazakhstan will pay more than other consumers for the electricity they use to mint digital coins. The country’s president has signed a law that imposes an additional fee for the power utilized by the energy intensive industry. Coin Miners in Kazakhstan to Pay Extra...
Hydropower Stations Up for Sale Amid China’s Crackdown on Crypto Mining
30.6.2021
Small hydropower plants have been put up for sale in China as demand for their cheap energy decreases following the government’s crackdown on crypto miners. Just as with mining rigs, their prices have been going down, leaving owners with limited options to recoup their investments. Ads...
Iran Counts 30 Crypto Mining Farms Licensed to Mint Digital Currencies
27.6.2021
Iranian authorities have so far authorized 30 facilities for cryptocurrency mining. The crypto mining farms are spread across several regions, including Tehran Province. The government has put out the data amid a crackdown on illegal miners in the country. A Third of Authorized Mining Farms...
Persian Gulf Island to Become Crypto Exchange Hub, Iran Minister Proposes
17.6.2021
Iran’s information technology minister has pitched the idea of transforming the Persian Gulf island of Kish into an international center for cryptocurrency exchanges. Iranian authorities plan to create a financial free zone in the territory which has already attracted cryptocurrency miners....
Bitcoin Mining Firm Hut 8 Approved to List on Nasdaq
11.6.2021
Major North American bitcoin mining firm Hut 8 Mining has been approved for listing on Nasdaq under the ticker symbol HUT. The company is also listed on the Toronto Stock Exchange (TSX). Hut 8 Mining Corp. announced Thursday that its common shares have been approved to list on the Nasdaq Global...
Iran Seizes 3,000 Crypto Mining Devices in a Week
10.6.2021
Authorities in Iran have confiscated 3,000 units of mining hardware in just one week as part of a push to curb illegal crypto mining amid power shortages and blackouts. In a single year, Iranian law enforcement has shut down over 180 crypto farms in Tehran Province alone. Over 500 Crypto Mining...
Nvidia Makes $155 Million From Crypto Mining Chips in Fiscal Q1
27.5.2021
Graphics cards manufacturer Nvidia has earned $155 million in revenue from chips designed for cryptocurrency mining during the first fiscal quarter. The company admitted that crypto miners have also pushed sales up in the gaming products segment which remains its main market. Leading GPU Maker...