coin minting – DIGIT INFO

Bill Aims to Limit Crypto Mining in Kazakhstan Only to Registered Companies

DIGIT — Sat, 01 Oct 2022 20:30:48 +0000

New legislation proposed in the parliament of Kazakhstan will allow only authorized miners to mint digital currency, if adopted. The draft has been designed to comprehensively regulate the industry and reduce what its sponsors label as uncontrolled consumption of electricity in the sector. Lawmakers in Kazakhstan Submit Crypto Mining Law, Seek to Curb ‘Gray’ Mining […]

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Hardware Worth $1.9 Million Stolen in Russia’s Crypto Mining Capital

DIGIT — Sat, 25 Jun 2022 21:30:44 +0000

Russian law enforcement is looking into the alleged theft of mining hardware valued at around $1.9 million. The powerful computing equipment disappeared from a crypto mining hotel in Irkutsk, the owners of which have been accused of large scale fraud. 100 Russians Lose Mining Machines Worth 100 Million Rubles Police in the Russian Irkutsk Oblast […]

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Kazakhstan Mulls Nuclear Power to Deal With Electricity Shortages Blamed on Crypto Miners

DIGIT — Fri, 31 Dec 2021 09:30:27 +0000

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 on the industry. NPP Project Revived Amid Short […]

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Iran Orders Crypto Miners to Halt Operations to Prevent Winter Blackouts

DIGIT — Sun, 26 Dec 2021 22:30:49 +0000

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 in Iran to Shut Down During Winter Expecting energy needs across […]

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Russia, Ukraine Shut Down Several Cryptocurrency Farms

DIGIT — Sun, 05 Dec 2021 05:30:00 +0000

Authorities in Russia and Ukraine have closed down a number of illegal crypto mining facilities allegedly powered by stolen electricity. The underground farms have been discovered around the capital cities, Kyiv and Moscow, as well as in the Russian republic of Dagestan. Russia Busts Illegal Mining Farms in Moscow Region and Dagestan Russian law enforcement […]

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Amid Risk of Power Deficit, Ukraine Shuts Down Another Crypto Farm

DIGIT — Wed, 03 Nov 2021 13:30:31 +0000

With а growing threat of electricity shortages in the winter months, Ukraine has busted another large coin minting facility illegally drawing power from the grid. The country’s security agency announced it’s stepping up efforts to ensure the nation’s energy system is well-protected from such consumers. Large-Scale Illegal Mining Operation Uncovered in Central Ukraine The Security […]

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Russian Oil Companies Propose to Mine Cryptocurrencies at Their Wells

DIGIT — Fri, 22 Oct 2021 06:30:28 +0000

Companies involved in oil production in Russia have come up with a project to organize the mining of cryptocurrencies right next to the oil fields they are exploiting. Data centers devoted to coin minting can be powered by the excess gas released during oil extraction which would otherwise be wasted. Ministries and Central Bank Review […]

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Abkhazia Seizes 6,000 Mining Devices but Fails to Disrupt Crypto Mining

DIGIT — Sun, 26 Sep 2021 06:30:12 +0000

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 Rigs Remain in the Hands of Miners, Government Says In recent […]

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