Energy

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Vietnam Crypto Miners Complain About Losses From Ethereum’s Merge

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Miners in Vietnam have expressed grievances over the loss of business following Ethereum’s transition to a consensus mechanism that does not require the energy-intensive computing they were providing. Many are in trouble, local media reported, quoting entrepreneurs and mining enthusiasts. Cryptocurrency Miners Hit by The Merge, Vietnam Report Reveals Vietnam’s crypto miners have suffered heavy … Read more

Solar-Powered Crypto Farm in Australia to Prove Bitcoin Mining Can Be Green

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A crypto mining data center in the state of South Australia will be running mainly on solar-generated electricity, a media report reveals. The coin minting facility has been set up in a region known for its energy-hungry iron ore extraction and steel production. Bitcoin Farm to Mine Cryptocurrency on Solar and Excess Energy in South … Read more

Canaan exec says opportunity outweighs crisis as Bitcoin miners struggle with shrinking profits

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This bear market is proving to be especially tough for Bitcoin miners, but Canaan senior vice president Edward Lu says the industry is “evolving toward a positive long term.” Go to Source Powered by WPeMatico

Electricity Consumption of Russian Crypto Miners Spikes 20 Times in 5 Years, Research Finds

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Power needs of cryptocurrency miners in Russia have grown significantly since 2017, with consumption of electrical energy seeing a 20-fold increase over the five-year period. In 2021, the minting of the coin with the largest market cap, bitcoin, required 1.25 gigawatts in the country. Experts say, however, that Russia has the spare capacities to satisfy … Read more

Bitcoin Mining Operations Continue to Expand Amid the Crypto Winter, While Converting ‘Wasted Gas to Energy at Scale’

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The bitcoin mining industry continues to expand as companies are obtaining more megawatts of capacity, building new facilities, and acquiring thousands of application-specific integrated circuit (ASIC) mining rigs. On Friday, the firm Validus Power revealed it has acquired two natural gas power stations in Ontario, Canada, that will become crypto mining facilities. On the same … Read more