Record hash rates may see Big Oil become a major BTC mining player
Big Oil’s influence over the Bitcoin network is growing stronger due to surging hash rates and distressed mining companies. Go to Source Powered by WPeMatico
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The Merge brings down Ethereum’s network power consumption by over 99.9%
Before the Merge upgrade, in 2022, the energy consumption of Ethereum ranged between 46.31 terawatt hour (TWh) per year to 93.98 TWh per year. Go to Source Powered by WPeMatico
Moldova Bans Cryptocurrency Mining Amid Energy Crisis Caused by War in Ukraine
The government of Moldova has decided to suspend crypto mining activities in the country as it’s facing a major energy crisis. The move is part of emergency measures to reduce power consumption with energy supplies dwindling due to the escalating conflict in neighboring Ukraine. Authorities in Moldova Prohibit Bitcoin Minting and Mining Hardware Imports to … Read more
Bitcoin miners rethink business strategies to survive long-term
A look at why some Bitcoin miners continue to thrive in the bear market while others need to rethink their strategies in order to continue operations. Go to Source Powered by WPeMatico
What does the global energy crisis mean for crypto markets?
While miners stand to be significantly affected by the current power crisis, there is still some hope that the prevailing macro conditions could work in favor of the crypto industry. Go to Source Powered by WPeMatico
Celsius Network defaults on payments to Core Scientific, causing financial unrest
Core Scientific claims to be losing approximately $53,000 per day to cover the increased electricity tariffs that Celsius refuses to pay. Go to Source Powered by WPeMatico
EU to Target Crypto Miners’ Power Usage as Union Relies Less on Russian Energy
Authorities in Brussels are taking steps to reduce power consumption, including in cryptocurrency mining, as the EU faces limited energy supplies from Russia, the reliance on which it has been trying to lower. New energy efficiency labeling is to address the growing electricity usage in the crypto sector. EU to Develop Energy Efficiency Label for … Read more
Norway Prepares to Reverse Electricity Tax Cut for Cryptocurrency Miners
The Norwegian government is reviewing a proposal to abolish the policy of preferential tax treatment for data centers mining cryptocurrency with cheaper electricity. The executive power in Oslo says conditions have changed and the country needs the energy currently used by miners. Mining Firms Likely to Lose Tax Incentive as Norway Seeks to Save Power, … Read more
Bill Aims to Limit Crypto Mining in Kazakhstan Only to Registered Companies
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 … Read more
Russia to Supply Electricity to Kazakhstan’s Cryptocurrency Miners
Russia is preparing to provide Kazakhstan with additional energy needed to operate crypto mining farms in the Central Asian nation. New arrangements will allow Kazakhstan’s miners to buy electricity directly from the Russian power generation and distribution giant Inter RAO. Miners in Kazakhstan to Source Energy From the Russian Federation Crypto mining enterprises operating in … Read more
