On August 31, 2022, Ethereum Classic’s hashrate reached another all-time high (ATH) this year at block height 15,850,811. Ethereum Classic’s global hashpower surpassed the 40 terahash per second (TH/s) region on Wednesday. Despite the fact that the network’s hashrate has risen a great deal, Ethereum’s hashrate remains relatively unchanged with just over 1,000 TH/s dedicated…
Read more
On Wednesday, Bitcoin’s mining difficulty jumped 9.26% higher, recording the second highest difficulty rise in 2022. The latest rise is Bitcoin’s third difficulty increase since August 4, 2022, and it’s now 11.63% harder to find bitcoin block reward. Bitcoin Difficulty Jumps 9.26% — Metric Prints the Second Largest Rise This Year Bitcoin (BTC) has experienced…
Read more
Farms mining cryptocurrency at oil wells in Russia account for 85 megawatts (MW) of energy capacity, experts have estimated. Investors are considering projects for another 200 MW despite constraints stemming from Western sanctions, a report reveals. Annual Income From Crypto Mining With Associated Gas in Russia to Exceed One Billion Rubles Data centers mining cryptocurrencies…
Read more
While bitcoin prices hover just below the $22K mark, the leading crypto asset has still shed more than 9% against the U.S. dollar during the last two weeks. Despite the lower prices, Bitcoin’s hashrate has jumped significantly in recent times and block intervals have sped up a great deal. The trend suggests that when the…
Read more
Authorities in the energy-rich Russian region of Irkutsk have imposed hefty fines on crypto miners this year for illegal use of electricity to produce digital currencies. Power utilities have also filed hundreds of lawsuits, a report reveals, quoting prosecutors. Irkutsk Crypto Miners Pay 100 Million Rubles in Fines in 2022 Cryptocurrency mining has become a…
Read more
An IT specialist working for a medical institution in Russia’s Altai Republic has been detained for illegally mining cryptocurrency at the premises of a Covid-19 hospital. The man minted digital currencies using stolen electricity for almost a year before law enforcement busted his crypto farm.
Altai Resident Apprehended for Running Underground Crypto Mining Operation
…
Read more
Power needs of cryptocurrency miners in Russia have grown significantly since 2017, with consumption of electrical energy seeing a 20-fold increase over the five-year period. In 2021, the minting of the coin with the largest market cap, bitcoin, required 1.25 gigawatts in the country. Experts say, however, that Russia has the spare capacities to satisfy…
Read more
In just over a month’s time, The Merge is likely to be implemented on the Ethereum blockchain and the network’s proof-of-work (PoW) miners will be forced to mine another coin. So far, it seems ethereum miners are sticking with the PoW Ethereum chain until the very end as profits have increased. While Ethereum will change…
Read more
Law enforcement in Kazakhstan detained members of a crime group suspected of forcing IT experts into operating underground facilities for cryptocurrency mining with threats and blackmail. The racketeers allegedly made up to half a million U.S. dollars a month from their business. Kazakhstan Busts Illegal Crypto Mining Organization, Detains Dozens Authorities in Kazakhstan have arrested…
Read more
The government of Kosovo has adopted measures tailored to maintain energy supply in the coming months, including a ban on cryptocurrency mining. The move comes amid a sharp increase in import prices and the restrictions can be extended for up to six months. Authorities in Kosovo Reinstate Ban on Cryptocurrency Mining The executive power in…
Read more
