Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Paraguayan lawmakers introduce a bill to ban cryptocurrency mining, Brazil to change crypto taxation framework, and a poll finds that Latam believes CBDCs might help combat corruption in the region. Paraguayan Lawmakers Introduce…
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Bitcoin miner Bitdeer is reportedly in discussions with private credit firms to secure $100 million in funding to expand its mining capacity. It is believed that the cryptocurrency miner has engaged a financial adviser to assist with the negotiations. Negotiations Between Bitdeer and Lenders Continue The cryptocurrency mining firm Bitdeer Technologies Group is reportedly seeking…
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The Russian crypto mining hotspot of Irkutsk appears to be cracking down on illegal and quasi-legal miners. Per a Telegram post from the Irkutsk Prosecution Service, an unnamed crypto miner, aged 35, will “stand trial for stealing electricity” in the town of Cheremkhovo. Irkutsk: Russian Crypto Mining Hotspot Hopes to Avoid Power Drain The move…
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Crypto mining firm Core Scientific has announced a decline in year-on-year revenues in its Q4 2023 results, accompanied by a substantial reduction in net losses. According to Core Scientific’s earnings release on March 12, the company’s total revenue for 2023 amounted to $502.4 million, marking a decrease of $137.9 million compared to the $640 million achieved…
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U.S. President Joe Biden released his 2025 budget proposal on Monday featuring a number of provisions aimed at altering the cryptocurrency industry, including a wash sale rule for digital assets and an excise tax for crypto mining operations. Biden’s Crypto Mining Tax and Crackdown on Wash Sales If approved, Biden’s $7.3 trillion budget proposal would…
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In a landmark ruling, the Texas Blockchain Council (TBC) and Riot Platforms Inc. have triumphed in their lawsuit against the Biden administration, successfully halting the data collection efforts on bitcoin mining operations. TBC and Riot Platforms Win Case Against Bitcoin Mining Data Survey The United States District Court for the Western District of Texas has…
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Following legal action initiated by Riot Platforms and the Texas Blockchain Council against the U.S. Department of Energy (DOE), the department’s statistical branch, the Energy Information Administration (EIA), has put a temporary hold on its bitcoin mining survey and quarantined the data gathered to date. DOE Puts Bitcoin Mining Inquiry on Hold Amid Legal Challenges…
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The publicly listed mining firm Riot Platforms and the Texas Blockchain Council have initiated legal proceedings against the U.S. Department of Energy (DOE) and other federal entities, aiming to obstruct what they deem an unauthorized data collection effort targeting the bitcoin mining industry. The legal battle underscores the escalating tension between bitcoin mining operations and…
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Bitcoin (BTC) mining firm Riot Platforms achieved impressive results in 2023, with total revenues reaching an all-time high of $281 million. In a Thursday press release, the company’s CEO Jason Les expressed satisfaction with Riot’s performance last year, highlighting several significant achievements. The company said it produced 6,626 Bitcoins during the year, a 19% increase…
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Bitcoin, the enigmatic cryptocurrency known for its volatile price swings and digital gold status, is making a surprising play for a new title: sustainability champion. A recent analysis by Bitcoin environmental impact expert Daniel Batten reveals a remarkable surge in renewable energy use for mining, reaching a staggering 55%. This marks a significant shift from…
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