mining farms – DIGIT INFO

Russian Republic Dagestan Battles Underground Crypto Mining Amid Power Outages

DIGIT — Thu, 26 Sep 2024 08:30:05 +0000

Dagestan, a republic in Russia, is stepping up efforts to tackle illegal cryptocurrency mining due to its impact on the power grid and public safety. Underground mining operations have caused recent infrastructure damage, including a substation fire. Officials call for stricter measures to address these issues as miners bypass regulations. Dagestan Cracks Down on Illegal […]

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Several Crypto Mining Operations Busted in Russia

DIGIT — Sun, 19 Mar 2023 08:30:22 +0000

Authorities and power utilities in various Russian regions have shut down illegal crypto mining farms, seizing hardware and taking operators to court. The action against the coin minting facilities comes amid discussions on a proposal to introduce criminal liability for miners breaking the upcoming legislation for the industry. ‘Underground’ Crypto Mining Farms Shut Down Across […]

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Daily Raids on Crypto Farms as Abkhazia Intensifies Mining Crackdown

DIGIT — Sun, 12 Feb 2023 07:00:03 +0000

Authorities in Abkhazia are stepping up efforts to clamp down on cryptocurrency mining amid electricity shortages in the winter months. The government of the breakaway Georgian region announced it’s also taking measures to prevent imports of mining equipment. Abkhazia Creates Headquarters to Combat Illegal Crypto Mining Operations Police in Abkhazia are conducting daily raids to […]

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Russia Expands Its Crypto Mining Capacity, Report Reveals

DIGIT — Sat, 04 Feb 2023 23:00:20 +0000

The 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

DIGIT — Sat, 07 Jan 2023 11:30:06 +0000

Since 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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Iran Returns Seized Crypto Mining Equipment to Miners

DIGIT — Tue, 03 Jan 2023 22:30:20 +0000

A government body responsible for state property in Iran has released some of the hardware seized from illegal crypto mining farms. Its top executive explained the agency was obliged to do that by courts in the Islamic Republic, where unlicensed miners have been blamed for power shortages. Authorities in Iran Give Confiscated Mining Rigs Back […]

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Crypto Miners in Kazakhstan to Buy Only Surplus Power, Under Digital Assets Bill

DIGIT — Thu, 08 Dec 2022 07:00:20 +0000

Companies extracting cryptocurrencies in Kazakhstan will be allowed to purchase only excess electricity on a government-controlled market. The decision comes with new legislation approved by lawmakers which regulates the activities of the industry and the taxation of its profits. Law to Regulate Crypto Mining in Kazakhstan, Change Licensing Rules The lower house of Kazakhstan’s parliament, […]

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Natural Gas Price Hike Hits Crypto Miners in Iran

DIGIT — Thu, 03 Nov 2022 08:30:25 +0000

Companies using natural gas as a power source to mint digital currency in Iran will have to deal with a sharp increase in the price of the fuel. The new rates set by the state-run supplier are almost double the previous and have been imposed retroactively, local media reported. Iran Raises Tariffs for Mining Farms […]

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Norway Prepares to Reverse Electricity Tax Cut for Cryptocurrency Miners

DIGIT — Sat, 08 Oct 2022 06:30:11 +0000

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, […]

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Russia Said to Allow Crypto Mining in Regions With Hydroelectric and Nuclear Power

DIGIT — Thu, 29 Sep 2022 11:30:32 +0000

Cryptocurrency mining should be allowed in areas with excess energy and prohibited in those that experience deficits, according to Russian officials preparing to legalize it. An expert from the crypto industry has recently marked the regions where Moscow is likely to authorize mining and the ones where it will probably ban the extraction of digital […]

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