Russia Expands Its Crypto Mining Capacity, Report Reveals

Russia Expands Its Crypto Mining Capacity, Report RevealsThe total capacity of crypto mining facilities in Russia has been increasing in the past year, despite the market downturn and sanctions, according to a survey of leading operators. Depressed prices of mining equipment and stronger interest from domestic customers have been identified as major factors for the trend. Miners Prepare for Growth as Total […]

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Crypto Miners in Kazakhstan Start Paying Higher Electricity Fees

Crypto Miners in Kazakhstan Start Paying Higher Electricity FeesSince the beginning of 2023, cryptocurrency miners operating in Kazakhstan are obliged to pay new fees for the power they need to mint digital coins. A surcharge introduced in 2021 now depends on the price of electricity consumed by bitcoin farms and can be much higher than the original levy. New Year Brings Higher Costs […]

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New York Mayor Supportive of Mining Restrictions but Maintains Crypto Hub Objective

New York Mayor Supportive of Mining Restrictions but Maintains Crypto Hub ObjectiveMayor of New York City Eric Adams took a supportive, if somewhat veiled, stance on the partial crypto mining ban imposed in the state. A law signed by fellow Democrat and New York Governor Kathy Hochul temporarily limits the minting of digital currencies using fossil fuels. New York Mayor and Bitcoin Supporter Eric Adams to […]

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Kazakhstan Auditors Go After Crypto Miners Accused of Exploiting Tax Benefits

Kazakhstan Auditors Go After Crypto Miners Accused of Exploiting Tax BenefitsAuthorities in Kazakhstan have found several businesses minting digital currencies that took advantage of tax cuts they were allegedly not supposed to benefit from. Auditors said the crypto firms registered as “innovative companies,” to receive millions of dollars in tax preferences. 5 Mining Entities in Kazakhstan Get $18 Million in Tax Exemptions Auditors in Kazakhstan […]

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Kazakhstan Mulls Nuclear Power to Deal With Electricity Shortages Blamed on Crypto Miners

Kazakhstan Mulls Nuclear Power to Deal With Electricity Shortages Blamed on Crypto MinersThe government in Kazakhstan is considering building a nuclear power plant to overcome an electricity deficit allegedly caused by the booming crypto mining industry. Problems with power supply are driving away miners that saw the Central Asian country as a new home when China recently cracked down on the industry. NPP Project Revived Amid Short […]

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Bitcoin Mining Company Griid Plans for Public Listing on NYSE via SPAC Deal

Bitcoin Mining Company Griid Plans for Public-Listing on NYSE via SPAC DealAfter the vertically integrated bitcoin self-mining company Griid revealed it secured a $525 million credit facility from Blockchain.com, the company revealed it plans to go public via a special purpose acquisition company (SPAC) deal. Griid will be listed on the New York Stock Exchange (NYSE) after merging with the company Adit Edtech. Griid to Go […]

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Bitcoin ASIC Miner Manufacturing Domination: Bitmain and Microbt Battle for Top Positions

On June 16, 2020, Bitmex researchers published a report that noted bitcoin mining rig manufacturers have consolidated a great deal and in the future, Bitmex researchers predict that “only 2 to 3 players will survive into the longer term.” There’s still a number of SHA256 mining rig manufacturers today, and regional reports claim that the […]

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Russia Reports 15% Increase in Number of Crypto Mining Companies

Russia Reports 15% Increase in Number of Crypto Mining CompaniesThe 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 […]

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Bitmain Opens Repair Center in Russia

Bitmain Opens Repair Center in RussiaLeading manufacturer of crypto mining equipment Bitmain has opened a service center in Russia. Miners in the country will be able to repair their ASIC rigs locally, saving both time and money. Previously, they had to send faulty equipment back to China, dealing with customs formalities and paying costly shipping.   Also read: Ant Creek: […]

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Ukrainian Law May Separate Mining from Cryptocurrencies

Ukrainian Law May Separate Mining from CryptocurrenciesUkrainian legislators should separate the regulation of crypto mining from the legal status of cryptocurrencies. The new approach was proposed by the chairman of an important parliamentary committee who criticized law enforcement agencies for cracking down on crypto miners. Police confiscated mining equipment in a series of raids this week. Authorities claim that coins have […]

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