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Authorities in the Russian region of Irkutsk have so far filed 1,000 lawsuits against what they call “gray” miners, or people minting coins in their homes. In over half of these cases, courts have ordered the defendants to compensate the operators of the distribution networks. Hundreds of Crypto Miners Sued in Irkutsk for Extracting Digital […]Powered by WPeMatico
Bitcoin miners as energy buyers utilize renewable energy sources and excess electricity offered by utility companies to fuel their mining operations.
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The Bitcoin network has a 31:1 positive to negative ratio according to climate tech VC Daniel Batten.
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During the last month, Russia’s ruble has dropped 16.48% against the U.S. dollar as energy and commodity prices have slowed over the last few weeks. Russia’s central bank revealed two weeks ago that it is further distancing itself from U.S. dollar dependence by purchasing the Chinese yuan on foreign exchange markets. Roughly around the same […]Powered by WPeMatico
Bitcoin miners appeared to be the model consumers for the ancillary services in the state.
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Growing electricity consumption in the crypto mining sector may require the construction of new power generation facilities in Siberia, the energy minister of Russia has acknowledged. Demand continues to increase in residential areas as well, after regional authorities abandoned a proposal to introduce higher tariffs for Russians minting digital coins at their homes. Authorities in […]Powered by WPeMatico
2022 was tough on crypto prices, but ETH, LDO, MATIC, DAI and ATOM all made a positive impact on the industry.
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Russian authorities are now prosecuting miners extracting cryptocurrency using subsidized electricity for the population, according to a top official from the energy ministry. Power utilities are detecting their increased consumption and trying to make them pay at commercial rates. Amateur Crypto Miners in Russia Under Pressure Despite Lack of Regulation for Home Mining Electricity distribution […]Powered by WPeMatico
Climate change initiatives led by politicians and sponsored by some of the biggest polluters demand a change in initiatives — Decentralized tech could play a key role.
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On Dec. 8, 2022, three Democratic politicians from Massachusetts, Oregon, and California revealed legislation aimed at combatting “energy-intensive” cryptocurrency mining operations. The bill introduced by senator Ed Markey (D-MA) alleges that crypto mining “strains the grid” and the industry “undermines U.S. climate goals.” 3 U.S. Bureaucrats Believe Crypto Miners Need to Report Carbon Emissions and […]Powered by WPeMatico