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“# Illegal crypto mining not the cause of power shortages in Iran, ministry says ” Iran’s Ministry of Industry, Mine and Trade reportedly dismissed claims by leading power company Tavanir that blamed illegal cryptocurrency miners for the ongoing power shortages in the country. According to a report by the Financial Tribune, Alireza Hadi, the ministry’s…
“# China mining shock may not be over yet, experts suggest ” Earlier this year, the Chinese government took the momentous step to ban any crypto mining operations based within its borders, causing a massive exodus of hashing power — 168 exa hashes per second (EH/s) to nearly 86 EH/s as of June 23, representing…
“# Belarus president Lukashenko calls on state to mine cryptocurrency ” Belarusian President Alexander Lukashenko has called on the government to mine cryptocurrency use spare power infrastructure. Lukashenko spoke at the opening of the Petrikovsky mining and processing plant on Aug. 27, urging workers to move into crypto mining in Belarus instead of pursuing low-paying…
“# Russian man gets three-year sentence for stealing a friend’s mining rig ” Authorities from Russia’s Zavolzhsky district have found a 34-year-old local man guilty of stealing cryptocurrency mining equipment worth more than 1.6 million rubles (nearly $22,000). According to the report shared by the Prosecutor’s Office of the Yaroslavl Region, the state prosecutor confirmed…
“# How does the infrastructure bill affect the mining industry in the US? ” On August 10, the United States Senate voted to pass a $1 trillion bill to revitalize America’s infrastructure. From the standpoint of the crypto community, miners in particular, the Senate’s foray into crypto legislation has been a disaster. Unless the language…
“# Amid Taliban takeover, aspiring crypto miner flees Afghanistan ” An Afghan refugee who had planned to start a crypto mining business has been arrested in Turkey after illegally crossing the border. According to a Reuters report, Muhammad Ali’s goal was to mine Bitcoin (BTC) or Ether (ETH) in Afghanistan before the recent Taliban takeover,…
“# KuCoin encourages greener crypto mining with proof-of-work pool ” Singapore-based crypto exchange KuCoin is launching a mining pool aimed at providing revenue to proof-of-work miners after integrating their rigs. In a Wednesday announcement, the exchange said its KuCoin Pool product would allow miners around the world to contribute to the Bitcoin (BTC) and Bitcoin…
“# Riot Blockchain reports 1,540% increase in quarterly revenue from Bitcoin mining ” Major publicly-listed Bitcoin mining firm, Riot Blockchain, has reported record revenues for Q2 2021. In its Aug. 23 quarterly financial report, the U.S.-based firm reported $31.5 million in mining-related revenues for the three-month period — up roughly 1,540% from its Q2 2020…
“# Iran to lift Bitcoin mining ban in September ” Iran will once again allow Bitcoin and crypto miners to operate in the country from the last week of September. According to a report by Iran’s Financial Tribune, Tavanir, the country’s power generation organization, made the decision known earlier in August. As previously reported by Cointelegraph,…
“# Crypto mining needs to be redefined before simply casting it away ” Blockchain mining networks are often victims of their success. The two contemporary realities that demarcate the mining landscape and cause blockchains to fall short of what they promise are 1) the ongoing technological arms race driven by inherent competitive greed; and 2)…