Asset managers are warning industry giants like Tesla and PayPal that investing in energy-intensive assets like Bitcoin could diminish their popularity among investors. Allocating capital to Bitcoin risks a backlash from environmentally conscious investors, according to author and co-anchor of CNBC’s Squawk Box, Andrew Ross Sorkin. In a piece for the International New York Times,…
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An unknown client in Russia has stacked 20,000 Bitcoin miners at one of BitRiver’s locations in Siberia. Russia has reportedly imported thousands of cryptocurrency mining devices amid a massive surge in the crypto market. A senior executive at BitRiver, the largest crypto mining colocation services provider in Russia, claimed that a local client received over…
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Bitcoin energy consumption has been at its highest historical levels since late 2020, according to Digiconomist’s Bitcoin Energy Consumption Index. The recent surge of Bitcoin (BTC) price has driven notable growth in the amount of electricity consumed by Bitcoin miners, spurring another wave of argument in the community over the ecology of the seminal cryptocurrency.…
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Do the benefits brought by Bitcoin and the improvement in our standard of living justify this additional use of energy? Bitcoin arouses passion, curiosity and has received more and more media attention, especially after having climbed the ranks of the best financial asset of the decade. However, whenever its price goes up, many doubts and…
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The German state-funded energy project uses DLT to enable transparent market transactions. A blockchain-based energy trading platform backed by German tech giant Siemens is being publicly demonstrated in a Bavarian municipality today. The so-called “Pebbles” project — short for “peer-to-peer energy trading based on blockchains” — is holding a virtual demo of its blockchain-based marketplace…
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Despite unclear crypto regulations in the country, Russia may become the leader in sustainable crypto mining. Last month, Chinese President Xi Jinping, declared that China has plans to become carbon neutral by 2060, calling for a “green revolution.” If the plan is properly implemented, it could help China to finally shed its biggest-polluter status and…
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That may not necessarily be a good thing for the struggling state. The de facto state of Abkhazia threw the towel on its fight against crypto mining, with the president recently announcing measures to lift the nation’s current ban. According to Finanz.ru, Aslan Bzhania stated on Thursday that his government plans to introduce “the most…
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Layer1’s plan to sell excess power back to Texans has resulted in 700% profits Texas crypto miner operator Layer1 Technologies has been able to sell back its power supply for 8X the price. According to a Sept. 1 Bloomberg report, Layer1 reported nearly 700% profits from selling excess electricity from its ‘Bitcoin Batteries’ – large-scale…
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Two Bulgarian nationals have been charged with the theft of nearly $1.5M in electricity used to illegally operate crypto mining farms. Bulgarian authorities have arrested two men for illegally siphoning off more than $1.5 million in electricity to operate two crypto mining farms. According to an Aug. 14 report from Bulgaria Today, two men have…
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Coincheck’s CEO expressed optimism toward the company’s upcoming shareholder meeting app, GMO Coin announced negative leverage trading fees and more headlined news from Japan this past week. This week’s headlines from Japan included Coincheck readying its digital shareholder meeting solution, GMO Coin announcing negative leverage trading fees, Decurret testing transactions with a power company, Japanese…
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