Electricity

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Bitcoin Energy Consumption Is Far More Efficient and Greener Than Today’s Banking System

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While bitcoin and a variety of digital currencies have swelled in value, a number of critics have spread fear, uncertainty, and doubt (FUD) in regard to the energy consumption proof-of-work (PoW) cryptocurrencies leverage to produce new units of currency. Just recently the software engineer Stephen Diehl expressed his dissatisfaction over the environmental cost of bitcoin. … Read more

Chinese Miners Migrate to Nordic Regions, Mining Exec Says Hashrate Migration One of the ‘Biggest Developments’

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China has the largest concentration of bitcoin miners worldwide with estimates noting the country captures anywhere between 50-65% of the global hashrate. Xinjiang, the autonomous region of the People’s Republic of China, ostensibly accommodates 35% of the hashrate. This week a regional report from China and statements from the head of operations at Genesis Mining, … Read more

China’s Coal Standoff Causes Power Shortages, Chinese Bitcoin Miners ‘Heavily Affected’

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Regional reports from China detail that bitcoin miners located in certain areas in South China are running short on electricity. The country has been having massive issues with coal prices soaring across the mainland, as the Chinese government hasn’t been allowing coal carriers into ports. Because of the sweeping electrical shortages, mining activities have been … Read more

Bulgarian Electricity Company Unveils Details of Historic Power Theft Linked to Illegal Bitcoin Mining

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One of the largest exporters of electricity in Europe has revealed details of the most significant theft they have had in history, linked to a massive illegal bitcoin mining farm in a small Bulgarian village. Bulgarian Electricity Company Uncovers Massive Electricity Theft Linked to Illegal Bitcoin Mining According to Vesti, CEZ Group and police in … Read more

Venezuelan State Electricity Company Reportedly Cuts Power To Crypto Miners

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Reports say the Venezuelan state electricity company Corpoelec is disconnecting bitcoin mining farms in Carabobo state on orders from authorities. The power disconnections come amid reports that government and Corpoelec officials are planning to meet mining farm operators. According to one report that quotes an anonymous source, the objective of this meeting is to discuss … Read more