The Abu Dhabi Agriculture and Food Safety Authority of UAE issued a new advisory on Thursday prohibiting the use of farms for cryptocurrency mining. Farmers caught engaging in such activities face fines of up to 10,000 UAE dirhams (approximately $2,722). The Abu Dhabi Agriculture and Food Safety Authority advisory explicitly stated that farms cannot be…
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Russian authorities have reportedly proposed to impose hefty fines on suspected crypto miners operating from residential properties. Authorities may also consider including amendments to the Code of Administrative Offenses which imposes liability on those misusing electricity. Proposed Measures Aimed at Curbing Rising Power Outage Cases Authorities in Russia have signaled their intention to pursue private…
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Russian energy firms are preparing to “hunt down” private crypto miners and crack down on people mining cryptoassets at home, a report claimed on May 12. The media outlet Izvestia said the Russian Government Expert Council was preparing to send fresh mining-related proposals to the Cabinet. Lawmakers want to bundle the proposed measures in a…
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Kenyan President William Ruto announced a major policy shift in the country’s approach to cryptocurrency on May 3, revealing that his government has appointed U.S.-based Bitcoin mining company Marathon Digital as its consultant. The move signals a departure from the Central Bank of Kenya (CBK) and other government entities’ previously defiant stance on cryptocurrencies. Marathon…
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Riot Platforms Inc., an integrated bitcoin mining company, reported revenues exceeding $79.3 million in the first quarter of 2024. The revenue increase was slight, rising from $73.2 million to $79.3 million. Remarkably, this was achieved even as Riot Platforms experienced a 36% decrease in the number of bitcoins mined, down to 1,364. Modest Growth Noted…
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The Chinese Embassy in Angola has reminded its nationals on Angola’s recent prohibition of all crypto mining activities. The authority issued firm warning, emphasizing severe penalties to those who violate the law. The Angolan parliament passed a bill early this year on the “Prohibition of Cryptocurrency and Other Virtual Asset Mining,” which became effective on…
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The Chinese Embassy in Angola has cautioned its citizens residing in the African nation to refrain from mining cryptocurrencies, as this activity is now considered a criminal offense. The embassy has also urged its citizens to be vigilant of virtual currency schemes that exploit users’ aspirations for rapid wealth and assured returns. Violators of Angola’s…
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The price of Bitcoin fell drastically towards the $60,000 mark in the days leading up to the just concluded halving. On-chain data has shed light on what could very well be the reason for this price dip in the middle of all the excitement around the halving. Particularly, data has revealed that some miners have…
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A comprehensive X thread by Bitcoin developer and observer 0xB10C has uncovered that several prominent bitcoin mining pools are using identical block templates and transaction prioritization methods, mirroring those of Antpool. This revelation follows earlier findings that highlighted a notable concentration of custodianship among the same pools. Analysis Reveals Shared Mining Practices Among Top Bitcoin…
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The Arkansas State House recently passed two bills to potentially restrict cryptocurrency mining activities within the state. However, six other proposals failed to garner enough votes for advancement. While these bills have not yet become law, they signify the initiation of discussions that may lead to further legislative action. Arkansas Senate Addresses Concerns Over Cryptocurrency…
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