utility – DIGIT INFO

Runes and BRC-20s are just a stepping stone for Bitcoin DeFi

DIGIT — Mon, 06 May 2024 14:45:59 +0000

Bitcoin is becoming a yield-generating asset, thanks to new token standards like Runes, which may only be a stepping stone for Bitcoin DeFi.

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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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Sony and Astar Network Launch Web3 Incubation Program for NFT and DAO-Focused Projects

DIGIT — Sun, 19 Feb 2023 05:30:23 +0000

On Feb. 17, 2023, Tokyo-based Sony Network Communications announced that it is co-hosting a Web3 incubation program with the multichain smart contract platform Astar Network. The program has started accepting applications, and Sony and Astar will jointly mentor Web3 projects “focused on the utility” of non-fungible tokens (NFTs) and decentralized autonomous organizations (DAOs). Sony and […]

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At Least 1,000 Lawsuits Filed Against Crypto Miners in Russia’s Irkutsk Region

DIGIT — Tue, 14 Feb 2023 05:45:02 +0000

Authorities in the Russian region of Irkutsk have so far filed 1,000 lawsuits against what they call “gray” miners, or people minting coins in their homes. In over half of these cases, courts have ordered the defendants to compensate the operators of the distribution networks. Hundreds of Crypto Miners Sued in Irkutsk for Extracting Digital […]

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Bankrupt Celsius Aims to Raise $14.4 Million From Bitcoin Mining Rig Credits and Coupons

DIGIT — Sat, 11 Feb 2023 11:30:45 +0000

Defunct cryptocurrency lender Celsius aims to secure more than $14 million from credits and coupons backed by Bitmain, according to an interim CEO Christopher Ferraro in a bankruptcy court filing dated Feb. 9, 2023. Ferraro stated in the filing that the “coupons currently provide no utility to the debtors’ mining business.” Celsius Interim CEO Outlines […]

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Iranian Power Utility Tavanir Vows Severe Measures Against Unlicensed Crypto Miners

DIGIT — Sat, 09 Jul 2022 14:30:11 +0000

Iran’s state-owned power distribution company, Tavanir, has threatened harsher measures to discourage unauthorized crypto mining. These include much higher fines for those minting digital currencies with subsidized electricity and penalties for government officials involved in mining. Tavanir Raises Fines for Illegal Cryptocurrency Mining The Iran Power Generation, Transmission and Distribution Company (Tavanir) has adopted new, […]

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Malaysia Detains Over 600 People for Stealing Electricity to Mine Cryptocurrency

DIGIT — Wed, 30 Mar 2022 18:00:48 +0000

In the past two years, law enforcement authorities in Malaysia have arrested hundreds of individuals for theft of electricity allegedly used to mint digital currencies. The country’s police force has also confiscated equipment worth millions of dollars. Malaysia Police Announce Results From Crackdown on Illegal Mining Since 2020, Malaysian authorities have detained a total of […]

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How do you assess the value of an NFT?

DIGIT — Sat, 12 Mar 2022 12:03:00 +0000

To assess the value of an NFT, consider looking at various factors like ownership, utility, rarity and social proof.

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Kazakhstan Extends Power Cuts for Cryptocurrency Miners

DIGIT — Thu, 03 Feb 2022 21:00:08 +0000

Crypto farms in Kazakhstan will remain unplugged until Feb. 7, as the local utility has extended power cuts for miners. The company points to ongoing difficulties with electricity supply as the main reason for the measure, which was supposed to expire at the end of January. Mining Facilities in Kazakhstan Still Shut Down Data centers […]

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Utility Seeks $800,000 From Russians Mining Crypto With Cheap Power

DIGIT — Thu, 27 Jan 2022 07:00:10 +0000

The main utility company in Irkutsk is looking to collect almost $800,000 from owners of crypto farms that have allegedly caused a spike in electricity consumption in the Russian region. The supplier accuses the miners of burning cheap household electricity in what is, in fact, a business activity. Power Utility Takes Crypto Miners to Court […]

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