Authorities in the Russian region of Irkutsk have so far filed 1,000 lawsuits against what they call “gray” miners, or people minting coins in their homes. In over half of these cases, courts have ordered the defendants to compensate the operators of the distribution networks. Hundreds of Crypto Miners Sued in Irkutsk for Extracting Digital…
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Core Scientific, Riot, and CleanSpark led the way in increasing Bitcoin production in January helped by better weather conditions and stable electricity prices. The first production update of 2023 from publicly listed Bitcoin (BTC) mining companies shows a steady increase in hash rate and a surge in BTC production compared to the previous month, according…
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Bitcoin’s difficulty decreased 0.49% on Feb. 12, 2023, following a sustained all-time high of 39.35 trillion over the previous two weeks (2,016 blocks). The decrease in difficulty offers a brief respite for bitcoin miners, after the network recorded a 14.94% increase in the last month. Bitcoin Difficulty Drops 0.49% Lower; Top Five Mining Pools Continue…
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Authorities in Abkhazia are stepping up efforts to clamp down on cryptocurrency mining amid electricity shortages in the winter months. The government of the breakaway Georgian region announced it’s also taking measures to prevent imports of mining equipment. Abkhazia Creates Headquarters to Combat Illegal Crypto Mining Operations Police in Abkhazia are conducting daily raids to…
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Bitcoin miners as energy buyers utilize renewable energy sources and excess electricity offered by utility companies to fuel their mining operations. Does the energy system benefit from Bitcoin mining? Bitcoin mining can spur demand for electricity, which can help advance the development of renewable energy sources, but it also uses a lot of energy and…
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A new crypto mining facility is being built in the Russian Republic of Buryatia with support from a government-affiliated company. Construction of the infrastructure for the large-scale project is already underway, carried out by a subsidiary of Russia’s largest mining operator, Bitriver. Bitriver Building Large Data Center for Cryptocurrency Mining in Buryatia, Siberia A 100-megawatt…
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A new law signed by Kazakh President Kassym-Jomart Tokayev on Feb. 6 reinstated the nation’s stand against the unlawful mining operations and issuance of crypto assets. Kazakhstan, one of the biggest Bitcoin (BTC) mining hubs in the world, announced plans to introduce new crypto regulations aimed at reducing tax fraud and unlawful business operations. A…
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A new law expanding the regulatory framework for cryptocurrency miners while restricting their access to low-cost electricity has entered into force in Kazakhstan. The legislation introduces a licensing regime for mining with two different categories of licenses that companies will have to renew periodically. President Tokayev Sings Law Regulating Crypto Assets Mining and Exchange in…
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The mining firm is not fearful of the bear market and plans to “pick off infrastructure and assets at good deals” this year. Bitcoin (BTC) mining firm CleanSpark is planning to continue its strategy of scooping up distressed mining company assets this year. The Bitcoin miner released its fiscal Q1 earnings presentation on Feb. 9,…
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