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Miners Have Moved 30% of Their Equipment Out of Kazakhstan, Industry Organization Claims
24.2.2022
Authorized crypto mining businesses have already taken a third of their coin minting hardware out of Kazakhstan, according to the country’s mining association. The news comes amid electricity shortages and upcoming tax hikes that are turning miners away from the Central Asian nation. Bitcoin...
Canaan Expands Mining Operations in Kazakhstan Amid Power Deficit, Protests
6.1.2022
Hardware manufacturer Canaan is expanding its crypto mining operations in Kazakhstan. The company is now cooperating with a number of mining firms there and has already deployed over 10,000 pieces of hardware despite the country’s challenges with electricity supply. Increased energy prices...
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...
Foundry Launches Bitcoin Mining Machine Marketplace, US Pool Becomes the World’s Largest Miner
9.12.2021
The firm Foundry Digital announced on Wednesday that the business has launched a bitcoin mining rig marketplace called Foundryx. According to Foundry, the company has access to more than 40,000 mining machines that are ready for resale. In addition to the marketplace launch, the company’s...
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...
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...
Abkhazia Seizes 6,000 Mining Devices but Fails to Disrupt Crypto Mining
26.9.2021
Authorities in Abkhazia have confiscated thousands of mining machines, closing down all large crypto farms, yet they have admittedly failed to put an end to illegal mining operations. The breakaway republic of Georgia has been struggling with power shortages blamed on underground miners. 30,000...
Iran Shuts Down More Illegal Crypto Farms, Bringing Total to Over 5,300
11.9.2021
Authorities in Iran are continuing their crackdown on unauthorized cryptocurrency mining as electricity demand remains high. The country’s power utility company has so far closed down more than 5,300 illegal mining facilities, seizing an enormous amount of coin-minting machines. Power...
Demand for Crypto Mining Rigs in Vietnam Rises With Bitcoin Prices, Report Reveals
7.9.2021
Higher cryptocurrency prices recently have restored interest in digital coin minting in Vietnam. Crypto mining is once again seen as an investment opportunity with other options being limited by the ongoing coronavirus pandemic that has been affecting the Asian country. Vietnam’s Sales...
Singapore Myanmar Investco Purchases 800 Mining Rigs, Firm Plans to Offer Mining Services
26.8.2021
On August 24, the investment and management company, Singapore Myanmar Investco Limited (SMI), revealed the company is entering the bitcoin mining industry as it has ordered 800 mining rigs to be delivered to Southeast Asia. The move follows a number of firms pivoting toward digital currency...
Bit Mining to Deploy Another 2,500 Bitcoin Miners in Kazakhstan
29.7.2021
Bit Mining is going to expand its operations in Central Asia with the purchase of 2,500 crypto mining machines slated for deployment in Kazakhstan. The new devices are expected to increase the Chinese company’s total hashrate capacity by an estimated 165 petahashes per second. Bit Mining Buys...
Malaysia Flattens Seized Bitcoin Mining Rigs With Steamroller — Over 1,000 Machines Demolished
19.7.2021
Over 1,000 bitcoin mining machines have been totally destroyed in Malaysia after they were seized for illegally mining the cryptocurrency using stolen electricity. The mining machines, worth about $1.26 million, were steamrolled in the Malaysian city of Miri and eight people have been arrested...
Iran Seizes 7,000 Bitcoin Mining Machines
22.6.2021
Iranian police have reportedly seized 7,000 bitcoin mining machines operating illegally in the country. The machines were found in an abandoned factory west of the capital. 7,000 cryptocurrency mining machines have been seized by Iranian authorities, state news agency IRNA reported Tuesday, noting...
Bit Mining Moving 3,000 Bitcoin Mining Machines to Kazakhstan Following China Crackdown
22.6.2021
Shenzhen-based Bit Mining has started shipping bitcoin mining machines to Kazakhstan as the Chinese government cracks down on bitcoin mining operations in the country. Bit Mining Ltd., a mining company based in Shenzhen, announced Monday that “it had successfully delivered its first batch...
Bitmain Reveals New Scrypt Miner — Model Mines DOGE and LTC Four-Times Faster Than Today’s Top Machine
20.6.2021
Regional reports from an exposition in Chengdu indicate Bitmain has unveiled a new scrypt ASIC rig for dogecoin, litecoin, digibyte, and verge mining. The Chinese reporter who disclosed the information says the new Bitmain model has a hashrate of around 9,500 megahash per second (MH/s) and overseas...
Kyrgyzstan Seizes 2,000 Cryptocurrency Mining Devices
28.5.2021
Law enforcement authorities in Kyrgyzstan have confiscated thousands of crypto mining machines as part of a new offensive against illegal cryptocurrency mining in the country. Investigators have also identified industrial enterprises that have been supplying the bitcoin farms with electricity....
Amid Stern Warnings from China Crypto Firms Huobi and Okex Halt a Few Services
24.5.2021
On Friday, the cryptocurrency community discussed a report stemming from China’s 51st meeting of the Central Financial and Economic Affairs Commission that reiterated warnings about bitcoin mining. The following Sunday, reports disclosed the cryptocurrency operation Huobi has suspended...