China Fines Bitmain $3.6 Million for Tax Violations, Report

China Fines Bitmain $3.6 Million for Tax Violations, ReportChinese authorities have fined leading crypto mining hardware manufacturer Bitmain for tax-related violations, local media reported. The penalty comes amid increasing tax checks in the digital asset sector, according to information from the crypto community. Bitmain Fined for Failing to Pay Income Tax on Behalf of Employees One of the world’s largest producers of devices […]

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Iran Returns Seized Crypto Mining Equipment to Miners

Iran Returns Seized Crypto Mining Equipment to MinersA government body responsible for state property in Iran has released some of the hardware seized from illegal crypto mining farms. Its top executive explained the agency was obliged to do that by courts in the Islamic Republic, where unlicensed miners have been blamed for power shortages. Authorities in Iran Give Confiscated Mining Rigs Back […]

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Demand for Cryptocurrency Miners Rises in Russia Amid Low Prices of Hardware

Demand for Cryptocurrency Miners Rises in Russia Amid Low Prices of HardwareRussia’s market for specialized crypto mining equipment has been seeing high demand over the past couple of months, with buyers attracted by the low price tags. Russian experts also predict an increase in the supply of used coin minting hardware as large foreign companies leave the industry. Russian Demand for Powerful ASIC Miners Skyrockets in […]

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Russian Arrested for Defrauding Buyers of Mining Hardware Worth Over $300,000

Russian Arrested for Defrauding Buyers of Mining Hardware Worth Over $300,000Police in the southern Russian city of Astrakhan have detained a man accused of defrauding people who wanted to purchase crypto miners. Law enforcement officials say the suspect made millions of rubles through fictitious sales of mining devices to Russian citizens and foreigners. Investigators Claim Russian Made Money Selling Nonexistent Crypto Mining Rigs A resident […]

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Russian Caught Mining Crypto in Covid-19 Clinic

Russian Caught Mining Crypto in Covid-19 ClinicAn IT specialist working for a medical institution in Russia’s Altai Republic has been detained for illegally mining cryptocurrency at the premises of a Covid-19 hospital. The man minted digital currencies using stolen electricity for almost a year before law enforcement busted his crypto farm. Altai Resident Apprehended for Running Underground Crypto Mining Operation An […]

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Masked Men Rob Large Crypto Mining Farm Near Moscow

Masked Men Rob Large Crypto Mining Farm Near MoscowArmed robbers have plundered a large crypto mining facility not far from the Russian capital, local media reported. The unidentified perpetrators stole dozens of video cards in the latest incident involving theft of coin minting hardware, which has been on the rise in Russia. Unknown Attackers Steal Mining Equipment From Crypto Farm in Russia A […]

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Report: Compass to Sell $30 Million in Crypto Mining Equipment Located in Russia

Report: Compass to Sell $30 Million in Crypto Mining Equipment Located in RussiaThe U.S.-based company Compass Mining plans to sell $30 million worth of bitcoin mining equipment that’s currently located in Siberia. The decision to sell the mining rigs follows the U.S. government sanctioning the bitcoin mining operation Bitriver and ten subsidiaries. Compass is hoping to offload 12 megawatts of capacity, according to a company executive. Compass […]

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Miners Have Moved 30% of Their Equipment Out of Kazakhstan, Industry Organization Claims

Miners Have Moved 30% of Their Equipment Out of Kazakhstan, Industry Organization ClaimsAuthorized 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 Miners Start Pulling Machines Out of Kazakhstan Companies, legally operating mining […]

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Canaan Expands Mining Operations in Kazakhstan Amid Power Deficit, Protests

Canaan Expands Mining Operations in Kazakhstan Amid Power Deficit, ProtestsHardware 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 have also provoked protests that could potentially affect the industry. Canaan Secures Mining […]

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