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“# ‘Mecca of mining’: Brazil considers zero tax on green bitcoin mining ” A new proposal in the Brazilian Congress calls for a tax exemption on both the importation of crypto mining rigs and on any mining conducted using renewable energy sources. A Dec. 4 report from Brazilian media outlet Seudinheiro explains that a series…
“# Ripple chair’s pay-off plan to convince BTC miners to adopt Proof of Stake ” Executive Chairman and Co-founder of Ripple Chris Larsen has unveiled his plan for Bitcoin miners to move away from Proof of Work (PoW), saying they should view it as “a net positive for their longevity.” He argues it could provide…
“# Bitcoin hash rate returns to all-time high levels ” The global hash rate of the Bitcoin network tanked to as low as 84 exahashes per second (EH/s) at the start of June following the Chinese government’s crackdown on the crypto mining sector. According to Blockchain.com, the global hash rate has increased by 108% since June, with…
“# Iceland cuts power to new Bitcoin miners ” National Iceland electrical company Landsvirkjun has cut the amount of power it will provide for some industries, including aluminium smelters and Bitcoin miners. A representative from the island’s power utility reported it has been forced to reduce energy allocations to southwestern Bitcoin miners and various industrial…
“# Australian government gives nod to 6 world leading crypto reforms ” The Australian government is seriously consider the rollout of central bank digital currency (CBDC) and has backed numerous forward-looking regulatory crypto-proposals as part of a new “payments and crypto reform plan.” Treasurer Josh Frydenberg says the reforms “will firmly place Australia among a…
“# $3.3B Bitcoin mining company Griid to list on NYSE via SPAC deal ” In a filing with the United States Securities and Exchange Commission on Tuesday, special purpose acquisition company, or SPAC, Adit EdTech Acquisition Corp, announced it would merge with Cincinnati-based Bitcoin (BTC) miner Griid at a $3.3 billion enterprise valuation. SPACs are…
“# Hackers can use compromised Google Cloud accounts to install mining software in under 30 seconds: report ” In a report aimed at assessing threats to Cloud users, Google’s Cybersecurity Action Team said that some attackers are exploiting “poorly configured” accounts to mine cryptocurrency. On Wednesday, the Google team said out of 50 analyzed incidents…
“# Celsius expands funding round to $750M, tips $7B to $10B valuation in 2022 ” Crypto lending firm Celsius Network has expanded its $400 million Series B round from October to $750 million as a result of oversubscription in the firm’s capital raise. The company is now valued at $3.5 billion following the raise and…
“# Texan Bitcoin mining power demands could jump 5 times by 2023 ” As the state of Texas faces a rapid influx of Bitcoin mining operations, its electrical infrastructure will have to support the industry’s expected 5,000 megawatts (MW) of additional power demands by 2023. The Bitcoin mining industry in Texas currently consumes around 500…
“# This Singapore tech company says its recycling 90% of waste heat from Bitcoin mining ” It takes a lot of energy for miners to verify transactions and mint new blocks on the Bitcoin (BTC) blockchain. According to Statistica, one Bitcoin transaction consumes as much electricity as over 1 million VISA transactions. Moreover, the cryptocurrency’s…