Energy

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Crypto Mining Could Bring Russia $1B in Taxes, Report Suggests

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Using its excess energy generating capacity to mine cryptocurrencies, Russia can increase its budget receipts by more than $1 billion dollars in annual tax revenue. The estimate comes from a report that also calls for the establishment of a Russian crypto valley.   Also read: Defying Crypto Winter, Swiss Crypto Valley Grows to 750 Companies … Read more

Abkhazia Temporarily Shuts Down 15 Mining Farms

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Authorities in Abkhazia have cut off 15 mining facilities from the territory’s electrical grid. The short-term measure is meant to alleviate power shortages during the cold winter months. The operators of the farms have fully cooperated with the local electric utility. Also read: Two Mining Companies Among Georgia’s Major Electricity Consumers 8,950 kWt of Mining … Read more

Two Mining Companies Among Georgia’s Major Electricity Consumers

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Two companies mining cryptocurrencies have topped a list of the largest consumers of electricity in Georgia. In this crypto-friendly nation, however, that’s not necessarily a sin or a disadvantage. Energy-intensive enterprises in the Caucasian country purchase the power they need at wholesale prices. Also read: Huobi and Major Russian Bank to Provide Legal Help to … Read more