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The city of Salamanca in the U.S. state of New York is reportedly establishing a moratorium on cryptocurrency mining operations in the city. This will stop crypto miners from “using up all the residents’ power and effectively make all of them get a price increase on their utility bills,” a member of the city’s council … Read more
The Russian crypto sector is expanding. The number of businesses operating mining facilities has increased this year, more Russians own cryptocurrency. Data confirming these trends has been presented by the country’s crypto and blockchain association, which also warned that delayed embrace of digital financial technology costs Russia a trillion rubles each year. Also read: Swissquote … Read more
In recent regulatory news, Dutch police have reported an increase in electricity fraud associated with crypto mining, a Michigan Republican member of the House Financial Services Committee has urged Congress to make the development of clear guidelines overseeing the cryptocurrency industry a top priority, and digital currency advocacy group, Chamber of Digital Commerce, has published … Read more
DMG Blockchain has started installing an 85 megawatt substation for a flagship crypto mining facility in Canada Go to Source Powered by WPeMatico
Cryptocurrency mining has always attracted controversy. This is primarily because so many people only see the negative side in terms of electricity usage. China is slowly ending all ‘unofficial’ domestic Bitcoin mining operations, and the territory of Xinjiang Uyghur is the latest to be affected. Removing Illegal Bitcoin Mining Firms From China It is evident … Read more
The state of New York doesn’t have the best of reputations when it comes to cryptocurrency. Its BitLicense requirement has made operating a crypto business very expensive and difficult. In an effort to turn things around, state regulators are now aiming to attract Bitcoin and altcoin miners. New York and Bitcoin Mining On paper, there … Read more
New York is seeking to foster growth in its cryptocurrency mining sector, with the New York State Public Service Commission (PSC) approving new electricity rates for Massena Electric Department. The new provisions will facilitate “high-density load customers, as such cryptocurrency companies” accessing “individual services agreement tariff[s],” including “protect[ion] […] from increased supply costs.” Also Read: Cash … Read more
A mainstream media assertion made recently implies that cryptocurrency is quite costly in terms of energy consumption. “Bitcoin has been alarming people for years,” the report notes, pointing to the amount of electricity used for its mining – almost as much as a small nation needs. But is that really so? Also read: Japanese Internet … Read more
Trading isn’t the only way to acquire crypto. Daily SPA, a Japanese media outlet, has reported on a Japanese man using his company dormitory’s free electricity to mine cryptocurrencies without asking permission. Also read: Japan Gives Jail Sentence to Crypto Miner in a Remote Mining Case An Extraordinary Income “Virtual currencies are processed cryptographically,” Sora-san, a Japanese … Read more
Semantics aside, the world of blockchain technology represents a new paradigm in the way businesses interact and operate. When its true potential is realized, the integration of blockchain throughout global industries may manifest as a transformative wave that beckons the next era of technology and business. While one certainly wouldn’t expect retail giant Walmart to … Read more
