Category: crypto mining


Persian Gulf Island to Become Crypto Exchange Hub, Iran Minister Proposes


Persian Gulf Island to Become Crypto Exchange Hub, Iran Minister ProposesIran’s information technology minister has pitched the idea of transforming the Persian Gulf island of Kish into an international center for cryptocurrency exchanges. Iranian authorities plan to create a financial free zone in the territory which has already attracted cryptocurrency miners. Iran ICT Minister Says Gulf Island of Kish Has What It Takes to Be […]


Abkhazia Shuts Down 8 Crypto Farms Amid Ongoing Crackdown on Mining


Abkhazia Shuts Down 8 Crypto Farms Amid Ongoing Crackdown on MiningAuthorities in Abkhazia, the partially recognized South Caucasus republic, have discovered and closed down eight crypto mining farms in just two weeks. Since the beginning of June, law enforcement agents have disconnected more than 300 mining devices from the grid and fined an operator. Over 300 Mining Rigs Cut Off From Electricity Supply in Abkhazia […]




Bitcoin Mining Firm Hut 8 Approved to List on Nasdaq


Bitcoin Mining Firm Hut 8 Approved to List on NasdaqMajor North American bitcoin mining firm Hut 8 Mining has been approved for listing on Nasdaq under the ticker symbol HUT. The company is also listed on the Toronto Stock Exchange (TSX). Hut 8 Mining Corp. announced Thursday that its common shares have been approved to list on the Nasdaq Global Select Market (Nasdaq) under […]


Iran Seizes 3,000 Crypto Mining Devices in a Week


Iran Seizes 3,000 Crypto Mining Devices in a WeekAuthorities in Iran have confiscated 3,000 units of mining hardware in just one week as part of a push to curb illegal crypto mining amid power shortages and blackouts. In a single year, Iranian law enforcement has shut down over 180 crypto farms in Tehran Province alone. Over 500 Crypto Mining Rigs Confiscated in Tehran […]


Alternative Mining Algorithms Reap Higher Profits Than Bitcoin Mining in 2021


Alternative Mining Algorithms Reap Higher Profits Than Bitcoin Mining in 2021Cryptocurrencies have jumped quite a bit in value over the course of the year and miners who verify transactions and earn digital assets have seen significant profits. While bitcoin miners have been seeing daily profits rise, a great number of other mineable digital currencies are pulling in much larger yields. Blake256R14 and Ethash Machines Pull […]



Home Crypto Mining Spikes in Brazil Amid Record High Unemployment


Home Crypto Mining Spikes in Brazil Amid Record High UnemploymentWith rising unemployment rates and rampant economic uncertainty, in the wake of the Covid crisis, a growing number of Brazilians are finding an alternative income source in cryptocurrency mining. GPU rigs have been spotted even in favelas as a relatively small investment can return more than the average salary in Brazil. Pandemic and Uncertainty Turn […]


Kyrgyzstan Seizes 2,000 Cryptocurrency Mining Devices


Kyrgyzstan Seizes 2,000 Cryptocurrency Mining DevicesLaw enforcement authorities in Kyrgyzstan have confiscated thousands of crypto mining machines as part of a new offensive against illegal cryptocurrency mining in the country. Investigators have also identified industrial enterprises that have been supplying the bitcoin farms with electricity. Security Service Conducts Operation Against Illegal Mining in Kyrgyzstan The State Committee for National Security […]


Nvidia Makes $155 Million From Crypto Mining Chips in Fiscal Q1


Nvidia Makes $155 Million From Crypto Mining Chips in Fiscal Q1Graphics cards manufacturer Nvidia has earned $155 million in revenue from chips designed for cryptocurrency mining during the first fiscal quarter. The company admitted that crypto miners have also pushed sales up in the gaming products segment which remains its main market. Leading GPU Maker Reports Record High Video Card Sales Supported by Crypto Miners […]


Cryptocurrency Mining Banned in Iran as Blackouts and Power Shortages Intensify


Cryptocurrency Mining Banned in Iran as Blackouts and Power Shortages IntensifyIranian President Hassan Rouhani has announced that cryptocurrency mining is banned in Iran, effective immediately. The ban, which will last until Sept. 22, is imposed as many cities in the country are facing major power blackouts. Iran has banned cryptocurrency mining effective immediately, President Hassan Rouhani said on Wednesday in a televised speech at a […]


Executives from China’s Largest Bitcoin Mining Firms Speak About Regulatory Crackdown


During the course of the week, the cryptocurrency community has been focused on China and the country’s Financial Stability Board detailing that it aims to crack down on the bitcoin mining sector. Following the statements from Chinese officials and a few crypto businesses abandoning services in the region, executives from some of China’s largest bitcoin […]



Chinese Firm Bit Mining Invests $9M to Build 100 Megawatt Bitcoin Farm in Kazakhstan


Chinese Company Bit Mining to Build $9 Million Bitcoin Farm in KazakhstanShenzhen-based Bit Mining is planning to construct and operate a 100 MW crypto-mining data center in Kazakhstan. The project will be implemented in partnership with two local companies that will also provide the enterprise with an array of services. The total amount of the investment will exceed $9 million. Kazakhstan to Host New 100 MW […]


Chinese Internet Cafe Owners Deal With the Pandemic Crisis by Using Their Facilities to Mine Cryptocurrencies


Chinese Internet Cafe Owners Are Dealing With the Pandemic Crisis by Using Their Facilities to Mine CryptocurrenciesThe Coronavirus pandemic has driven people to take advantage of new business lines to deal with the economic crisis, and cryptocurrency is once again a headliner. Internet cafe owners in China are using their facilities to set up crypto mining farms after temporarily shutting down in 2020. Owners Are Earning Around $6,200 Monthly According to […]


Urban Tea Now Accepts Cryptocurrencies Including Dogecoin


Chinese Company Urban Tea Now Accepts Cryptocurrencies Including DogecoinA specialty tea products retailer based in China’s Hunan province, Urban Tea, has introduced crypto payments in its stores and restaurants on two continents. Starting from this week, customers will be able to buy its beverages and meals using various cryptocurrencies. Chinese Tea Stores and Restaurants to Accept Crypto The publicly traded tea company runs […]


South Korea to Impose a 20% Tax on Crypto Mining Activities


South Korea to Impose a 20% Tax on Crypto Mining ActivitiesThe cryptocurrency industry in South Korea keeps facing regulatory challenges, and it seems that dust is far from settling. Now, crypto miners will be required to pay taxes, following the same path as digital assets traders. Ruling to Take Place Starting 2022 According to a report published by Donga, miners should be accountable for paying […]


Climate Change Targets Bitcoin Mining: NY Lawmaker Proposes 3-Year Moratorium on Mining Operations in the State


Climate Change Targets Bitcoin Mining: NY Lawmaker Proposes 3-Year Moratorium on Mining Operations in the StateU.S. bureaucrats, particularly Democrats, are concerned about climate change and have introduced lots of legislation in order to address these concerns. Now a lawmaker from New York wants to establish a moratorium for bitcoin mining facilities located in the state, which means cryptocurrency miners in New York would have to halt operations. Senator Kevin Parker […]


Beijing Is Collecting Data From Local Datacenters Involved in Cryptocurrency Mining Activities


Beijing's Government Is Collecting Data From Local Datacenters Involved in Cryptocurrency Mining ActivitiesAuthorities in Beijing have been conducting checks on cryptocurrency mining datacenters to assess and understand its energy consumption and thus the impact on the electric infrastructure. Although it was reported as a rumor by international media outlets, Chinese state media confirmed it. Authorities Sent an ‘Emergency Note’ to Three Biggest Telecom Operators As first reported […]


Bitcoin mining in China set for ‘stricter supervision’ due to carbon concerns


China is reportedly paying more attention to the crypto mining sector, amid concerns of its growing carbon footprint.

China’s crypto mining operations may be set for stricter supervision in the future, with the Government reportedly concerned about the energy consumption of Bitcoin mining in particular.

Beijing sent an “emergency notice” to conduct checks on data centres involved in Bitcoin and other cryptocurrency mining operations on April 27, which was reportedly met with some panic in China.

However Chinese columnist Colin Wu or Wu Blockchain on Twitter, was quick to downplay fears of how this could impact Chinese Bitcoin miners in the short term, noting that:

“This caused some panic in China. However, the Chinese government said it was only conducting an investigation. Data centers are difficult to use for Bitcoin mining, and are mainly used for ETH Filecoin.”

According to Chinese state media PengPai (accessed via translation), the “emergency notice” was routine work for the Beijing Municipal Bureau of Economy and Information Technology, as it seeks to account for a clearer picture of the energy consumption from the mining operations of Beijing-based data centers.

It has yet to be revealed if the checks will be carried out on a national scale, or what the future ramifications could be. However, according to PengPai, Yu Jianing, the rotating chairman of the Blockchain Committee of the China Communications Industry Association, it's a sign of things to come. He believes that “under the background of carbon neutrality, the future blockchain mining will indeed have stricter supervision.”

This notion holds up when looking at Inner Mongolia for reference — which will no longer be a mining hub. Crypto miners have been given until the end of April to shut down operations after China recently banned crypto mining in the area in order to meet its new carbon-reduction goals.

China’s 14th “five year plan” outlines a set of targets which include an 18% reduction target for “CO2 intensity” and 13.5% reduction target for “energy intensity” from 2021 to 2025.

Beijing is not known as a crypto mining hub as its electricity prices are higher than other regions, which may mean other hubs such as Xinjiang and Sichuan are targeted in the future.

Data from the Cambridge Bitcoin Energy Consumption Index or CBECI, estimates Xinjiang accounted for 35% of China’s Bitcoin hashing power in April, and accounted for roughly 23% of the world’s hash rate.

More stringent mining conditions could have global effects, with some believing Bitcoin's sharp crash to $50,000 earlier this month was in part a result of Xinjiang's drop in hashrate due to power outages  around April 17.

Popular crypto Analyst Willy Woo speculated a “whale with closer knowledge to happenings in China,” sold off before mining pools were temporarily shut down, citing a transfer of 9000 Bitcoins to Binance on April 16.


Intel Partners With Microsoft to Combat Cryptojacking Attacks by Deploying a Threat Detection Tool


Intel Partners With Microsoft to Combat Cryptojacking Attacks by Deploying a Threat Detection ToolAlthough recent studies have been showing a slowdown in cryptojacking activities, especially the ones related to mining privacy coins, Intel remains on the hunt to crackdown on such activities. The tech giant has partnered with Microsoft to deploy a campaign that strengthens cryptojacking detection with new technologies. Tool Could Trigger Multiple Detectors to Halt Any […]


Expert Believes Nuclear-Powered Crypto Mining Could Help Ukraine to Solve Energy Spending Problems


Expert Believes Nuclear-Powered Crypto Mining Could Help Ukraine to Solve Energy Spending ProblemsBitcoin mining could be a proper asset to solve one of the significant issues in the Ukrainian energy sector: spending. A financial expert praised the recent push given by Ukraine’s government to nuclear-powered crypto mining across the nation. Crypto Mining Can ‘Smooth out’ Fluctuations in Consumption, Says Expert During an interview with Inshe, Alexei Mushak, […]



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