mining

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Bitcoin’s Hashrate Skyrockets, Block Intervals Suggest a ‘Notable’ Difficulty Increase Is in the Cards

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While bitcoin prices hover just below the $22K mark, the leading crypto asset has still shed more than 9% against the U.S. dollar during the last two weeks. Despite the lower prices, Bitcoin’s hashrate has jumped significantly in recent times and block intervals have sped up a great deal. The trend suggests that when the … Read more

Ethereum Classic’s Hashrate Taps Another All-Time High Following Ethereum’s Hardened Merge Timeline

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On Thursday, following the official proof-of-stake (PoS) transition announcement from the Ethereum Foundation, Ethereum Classic’s hashrate tapped another all-time high at block height 15,806,925. The latest jump to 38.64 terahash marks the network’s second record high in five days, as Ethereum Classic captured 38.37 terahash per second (TH/s) on August 20, 2022. Ethereum Classic Hashrate … Read more

Sanctions, Disagreements Hamper Regulation of Crypto Mining in Russia, Experts Say

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The changing geopolitical and economic environment, as well as persisting differences between responsible government institutions, are hindering the advance of legislation tailored to regulate cryptocurrency mining in Russia. According to a report quoting industry watchers, these factors are halting the advance of the necessary legislation. Two Draft Laws on Mining Await Approval by the Russian … Read more

Crypto Miners in Russia’s Irkutsk Region Fined Almost $1.7 Million This Year

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Authorities in the energy-rich Russian region of Irkutsk have imposed hefty fines on crypto miners this year for illegal use of electricity to produce digital currencies. Power utilities have also filed hundreds of lawsuits, a report reveals, quoting prosecutors. Irkutsk Crypto Miners Pay 100 Million Rubles in Fines in 2022 Cryptocurrency mining has become a … Read more

9,404 Crypto Mining Devices Seized by Iranian Authorities Since March

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Iranian authorities have seized nearly 10,000 illegal cryptocurrency mining devices since March. According to reports, many of the seized crypto mining rigs were operating in public locations that receive free or heavily-subsidized electricity, such as schools and mosques. Iran Confiscates Nearly 10K Crypto Mining Devices Kambiz Nazerian, head of Tehran Electricity Distribution Company, said Monday … 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

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