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Kazakhstan Mulls Nuclear Power to Deal With Electricity Shortages Blamed on Crypto Miners
31.12.2021
The government in Kazakhstan is considering building a nuclear power plant to overcome an electricity deficit allegedly caused by the booming crypto mining industry. Problems with power supply are driving away miners that saw the Central Asian country as a new home when China recently cracked down...
Iran Allows Renewable Power Plants to Supply Crypto Miners With Electricity
30.12.2021
Authorities in Iran have decided to permit power generation plants using renewable sources to sell electricity to licensed cryptocurrency miners. The move comes after the government asked mining companies to suspend activities in order to avoid winter blackouts. Crypto Miners in Iran to Mint...
Power Deficit Forces Crypto Miners to Leave Kazakhstan
29.12.2021
Electricity shortages have been dogging Kazakhstan’s booming crypto mining industry this year. A media report reveals that some miners, including some of those that moved in amid China’s crackdown on the sector, are now looking to relocate to destinations with a more stable energy...
Iran Orders Crypto Miners to Halt Operations to Prevent Winter Blackouts
26.12.2021
Authorities in Iran have again told licensed miners to suspend their activities in the face of electricity shortages during the cold winter months. Following a period of similar restrictions this past summer, authorized companies were allowed to resume mining in September. Crypto Mining Farms...
Russian Government Allows Regions to Raise Electricity Rates for Crypto Miners
25.12.2021
The federal government in Moscow has permitted regions to determine local electricity tariffs for the population, a measure that will affect crypto mining at homes. Subsidized household electricity in Russia is often used to mint digital currencies in basements and garages. Regions in Russia...
Demand for Mining Hardware Spikes in Russia, Prices Rise
19.12.2021
The market for crypto mining equipment in Russia has seen strong interest from buyers of both new and used devices, retail data indicates. This year, demand for application-specific integrated circuit (ASIC) machines has multiplied exponentially while video cards have been in short supply leading...
Illegal Crypto Miners Threatened With Jail Time in Russia
17.12.2021
Cryptocurrency miners that are illegally connecting their equipment to the power grid should go to prison, says a Russian lawmaker who recently announced that his nationalist party is working on draft legislation to regulate the crypto activity. The industry cannot rely on support from the state...
Court Decision Voids Crypto Mining Contracts in China, Shuts Down Bitcoin Farms
16.12.2021
A court in Beijing has ruled that three investment agreements for bitcoin mining operations in Sichuan are “invalid.” A compensation claim has been rejected in the case, viewed as an indication that the Chinese judiciary would not provide protection for crypto-related interests....
Power Utility Sues Russians Mining Cryptocurrency at Their Homes, Raises Electricity Rates
12.12.2021
A Russian power utility has found a way to increase electricity prices for consumers mining cryptocurrency using household electricity. The regional distribution company has taken dozens of amateur miners to court and has already won some of the cases. Power Utility Goes After Crypto Miners Using...
Iceland Refuses to Power New Bitcoin Farms Amid Electricity Shortages
9.12.2021
Cryptocurrency mining is among several energy-intensive industries hurt by a power deficit in Iceland. The country’s main utility is now rejecting requests to connect new coin minting facilities to the grid, after cutting supply to aluminum smelters and fish factories. Iceland Turns Away...
China’s Hainan Province Ramps Up Crackdown on Crypto Mining Operations
5.12.2021
The province of Hainan in South China has taken steps aimed at curbing crypto mining activities. Besides blacklisting the industry, local authorities are also introducing higher electricity rates for the mining enterprises that continue to operate in the region. Hainan to Ensure Crypto Miners...
More Regulations Proposed to ‘Streamline’ Mining Sector in Kazakhstan
28.11.2021
Authorities need to expand the regulatory framework for cryptocurrency miners, a member of the parliament in Kazakhstan has suggested. The additional rules should streamline their activities and help correct the forming public opinion that they are responsible for the country’s electricity...
Russia Gets Bulk of Chinese Mining Machines Amid Miners’ Exodus, Report Reveals
25.11.2021
China’s crackdown on its crypto mining sector, launched earlier this year, caused a massive migration of mining enterprises to friendlier jurisdictions. Miners have been moving enormous amount of coin minting hardware to new bases around the world, with Russia reportedly taking the largest...
Norway Mulls Backing Sweden’s Call for Euro Ban on Crypto Mining
19.11.2021
The government in Norway is considering ways to limit the environmental impact of cryptocurrency mining and may support Swedish proposals to that end, including a European ban on proof-of-work mining. The European Commission has revealed it is already working to promote a transition to “more...
Kyrgyzstan Shuts Down Cryptocurrency Farm With 2,500 Mining Rigs
17.11.2021
Authorities in Kyrgyzstan have uncovered and shut down a large crypto mining farm in the north of the country. Law enforcement officials claim the illegal coin minting facility has inflicted “colossal damage” to the nation’s power grid and that they are still trying to estimate...
Russian Nationalists Prepare Bill to Regulate Cryptocurrency Mining
13.11.2021
Lawmakers from the Liberal Democratic Party of Russia are gearing up to introduce a draft law designed to regulate crypto mining. The nationalists say the legislation will benefit both Russian citizens and the state, as well as those who want to get involved in the business legally. Nationalists...
Iran Continues Crackdown on Illegal Crypto Mining, Seizes Hundreds of Mining Rigs
10.11.2021
Authorities in Iran persist with their efforts to curb unauthorized cryptocurrency mining. The state-run power distribution company has recently identified over a dozen underground crypto farms in Tehran and other regions, unplugging hundreds of mining units illegally connected to the grid. Power...
Russian Officials Back Idea of Recognizing Crypto Miners as Entrepreneurs
10.11.2021
Cryptocurrency mining should be recognized as an entrepreneurial activity under Russian law and taxed accordingly, representatives of key ministries in Moscow and the parliament have indicated. Officials believe the regulatory move would benefit both the state and the crypto industry. Russian...
Swedish Regulators Call for EU Ban on Crypto Mining, Power Company Defends Industry
10.11.2021
Alarmed by the rising energy needs of cryptocurrency mining, Sweden’s financial and environmental regulators have recently proposed an EU-wide ban on proof-of-work coin minting. The Swedish officials believe this would encourage a move towards a more energy-efficient extraction of bitcoin...
Kazakhstan President Demands ‘Urgent’ Regulation of Crypto Mining Amid Power Shortages
4.11.2021
Facing an electricity deficit largely blamed on cryptocurrency miners, Kazakhstan is trying to avoid an energy crisis this winter. The president of the country has insisted on the need to maintain power supply for the industry and population, calling for urgent legal regulation of the expanding...