Sweden’s tax agency identified irregularities in 18 locally operating companies, finding that they hid their involvement in crypto mining, it said Wednesday. The investigation, which spanned from 2020 to 2023 and focused on data center operations, revealed that they deliberately exploited tax incentives for which they were ineligible. Patrik Lillqvist, head of the agency’s intelligence…
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According to the application-specific integrated circuit (ASIC) mining rig manufacturer Bitmain, the firm is gearing up to introduce its latest Scrypt miner. The L9, which boasts a hashrate of up to 16,200 megahash per second (MH/s) and energy efficiency of 0.21 joules per megahash (J/M) mines litecoin, dogecoin, and digibyte. Bitmain Set to Launch L9…
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United States prosecutors have charged Charles O. Parks III with wire fraud and money laundering after he allegedly ran a “large-scale illegal ‘cryptojacking’ operation,” defrauding two cloud computing providers out of $3.5 million to mine $970,000 in cryptocurrencies such as ether, litecoin, and monero without authorization. Parks, who was arrested in Nebraska and faces up…
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The Australian Securities Regulator has launched civil proceedings against three cryptocurrency firms. These firms are accused of convincing investors to purchase investment packages using self-regulated superannuation funds. The regulator stated that appointing a receiver is the best way to protect investors’ assets, which are at risk of being depleted. Protecting Investors’ Assets The Australian Securities…
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The Australian Securities and Investments Commission (ASIC) has received a nod from a Federal Court to appoint receivers for digital assets held by a group of collapsed crypto mining companies and their sole owners. ASIC Takes Action Against Collapsed Crypto Mining Companies ASIC launched civil proceedings against three crypto-mining firms, collectively known as NGS Companies.…
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Onchain data indicates that a single custodian now manages the coinbase addresses for at least nine prominent mining pools, which collectively account for 47% of Bitcoin’s total hashrate. The analysis shows that substantial miners’ rewards from pools like F2pool, Antpool, Binance Pool, and Braiins are being funneled to this particular custodian. Onchain Data Reveals Single…
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Canadian province of British Columbia is seeking to regulate electricity use by crypto miners, due to their “unchecked growth.” Josie Osborne, Minister of Energy, Mines and Low Carbon Innovation, said Thursday that the province is working to address high energy consumption by crypto miners in the region. This creates very few jobs or economic opportunities,…
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Russian police have seized over 3,200 crypto mining rigs in raids on four large “illegal” data centers in Siberia. Per the Novosibirsk branch of the Russian power provider Rosseti (via RBC Crypto), police officers have charged the mining center operators with criminal charges. Illegal Crypto Mining ‘Network’ Shut Down in Novosibirsk Rosseti said the centers…
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On April 10, the bitcoin mining rig producer Auradine revealed it had secured an $80 million investment in a Series B funding round. Additionally, the company highlighted that it has also achieved $80 million in bookings. Auradine Raises $80 Million, Doubling Down on Teraflux Mining Rig Expansion The California-headquartered bitcoin mining equipment manufacturer Auradine, known…
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The Russian government’s crypto working group chairman believes Bitcoin (BTC) mining regulation is now a priority for Moscow. After years of infighting and neglect, Russian government bodies, ministries, and the Central Bank finally appear close to regulating the crypto sector. Per the Russian-language media outlet Happy Coin News, the working group’s chair, lawmaker Andreу Lugovoy…
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