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Malaysia Logs 300 Percent Rise in Electricity Theft Linked to Illegal Crypto Mining: Report
Illegal crypto mining operations in Malaysia rose to 2,397 in 2024 from the 610 cases reported in 2018. Law enforcement authorities there have reportedly initiated efforts to identify and bust locations they suspect are origins of unauthorised mining operations.
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Russia is Using Bitcoin in Foreign Trade, Finance Minister Says
This year, Russia permitted the use of cryptocurrencies in foreign trade and has taken steps to make it legal to mine cryptocurrencies, including bitcoin. Russia is one of the global leaders in bitcoin mining.
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Russia Approves Tax Bill on Cryptocurrency Transactions Amid BTC Boom: Details
Recently, the Federation Council, the Upper House of the Russian Parliament, approved a new bill that outlines the taxation framework for cryptocurrencies. This bill classifies virtual digital currencies as property.
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IMF Says Crypto Industry's Carbon Footprint Rising; Officials Mull Tax Surge to Curb Emissions
IMF officials have raised concerns about the crypto sector's carbon emissions and are considering whether a tax increase on crypto mining could help reduce its carbon footprint. In a blog post, the officials suggested that an 85 percent tax hike on power usage by crypto miners could potentially cut the sector's annual emissions by an estimated 100 ...
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Jack Dorsey-Backed Bitcoin Miner ‘Ocean’ Moves Headquarters to El Salvador
Ocean, a Bitcoin mining pool backed by Jack Dorsey, has established its global headquarters in El Salvador. In the coming months, Ocean plans to bring awareness and training programmes around Bitcoin to the Salvadoran citizens.
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Jack Dorsey’s Block Platform Creates Chip for Bitcoin Mining, Plans to Create Full BTC Mining System
Jack Dorsey, through his payments firm Block, has announced that the creation of its Bitcoin mining chip has been completed. Following months of research and development, Block has managed to create a 3nm Bitcoin mining chip.
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Bitcoin ‘Halving’ Software Update Cuts Supply of New Tokens in Threat to Miners
Bitcoin halving, the software update that is designed to cut the amount of Bitcoin released from the network to compensate companies known as miners for validating transactions, has been completed. Most of the impact from the halving is expected to be on Bitcoin mining companies rather than the actual price of the cryptocurrency.
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Bitcoin Halving 2024: Analysts Predict Drop in Bitcoin Dominance, Altcoins Engagement Could Spike
Bitcoin is gearing to undergo a halving event in the next few days. This process slashes the BTC rewards that miners earn to validate transactions on the blockchain by half – reducing their incentive to mine newer blocks rapidly. This slows down the addition of new tokens in circulation.
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Crypto Mining Operations Face Crackdown in Norway With New Regulations for Data Centres
Norway is tightening its noose around crypto mining operations in the country. Over the last year, Norway emerged as one of Europe’s largest locations hosting crypto miners. The main incentive for miners to flock to Norway was the provision of affordable electricity.
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Bitcoin Miners Begin Token Offloading Hoping to Retain Profits Before Upcoming Halving
Bitcoin miners are sprinting to sell portions of their BTC tokens to bag profits from BTC’s current raised prices ahead of the upcoming halving event. After halving, the block reward obtained by miners will be reduced in half, reducing their incentives for mining Bitcoin blocks and slowing down the addition of new tokens.
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ED Files Charges Against Chinese-Origin Directors, Others in Crypto Mining App Case
A charge-sheet has been filed under the anti-money laundering law against 299 entities, including 10 persons of Chinese origin, in an investigation linked to alleged duping of investors in the name of mining cryptocurrencies such as Bitcoins, the Enforcement Directorate said on Wednesday.
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Next Bitcoin Halving Scheduled for April 2024, Here’s Why It’s Important
The process of Bitcoin halving roughly happens every three to four years – that's how long it takes for 210,000 blocks to be mined on the Bitcoin blockchain. With the next halving just around two months away, market analysts predict the spike in price of Bitcoin, subsequently leading to the rate hikes for several other cryptocurrencies.
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A Single Bitcoin Transaction Consumes Enough Clean Water To Fill A Swimming Pool: Study
A single Bitcoin transaction could use the same amount of clean water needed to fill a garden swimming pool, according to a new study on the world's most popular cryptocurrency.
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Bitcoin Value Could Reach $50,000 Mark This Year, $120,000 by End of 2024, Says Standard Chartered
The value of top cryptocurrency bitcoin could reach $50,000 this year and $120,000 by the end of 2024 Standard Chartered said on Monday, predicting the recent jump in its price could encourage bitcoin "miners" to hoard more of the supply.
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US Scraps Excise Tax Proposal on Bitcoin Mining After Biden Refuses to Slash Crypto Taxes
Earlier this month, the US’ Council of Economic Advisors (CEA) floated a proposal to have Bitcoin miners pay a tax equal to 30 percent of the total energy cost that they consumed in the crypto mining process. The proposal has been scrapped by the US. The decision to pull the plug on this proposal could be part of a bunch of tax-related rebates in...
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Malaysia Logs 300 Percent Rise in Electricity Theft Linked to Illegal Crypto Mining: Report
Illegal crypto mining operations in Malaysia rose to 2,397 in 2024 from the 610 cases reported in 2018. Law enforcement authorities there have reportedly initiated efforts to identify and bust locations they suspect are origins of unauthorised mining operations.
-
Russia is Using Bitcoin in Foreign Trade, Finance Minister Says
This year, Russia permitted the use of cryptocurrencies in foreign trade and has taken steps to make it legal to mine cryptocurrencies, including bitcoin. Russia is one of the global leaders in bitcoin mining.
-
Russia Approves Tax Bill on Cryptocurrency Transactions Amid BTC Boom: Details
Recently, the Federation Council, the Upper House of the Russian Parliament, approved a new bill that outlines the taxation framework for cryptocurrencies. This bill classifies virtual digital currencies as property.
-
IMF Says Crypto Industry's Carbon Footprint Rising; Officials Mull Tax Surge to Curb Emissions
IMF officials have raised concerns about the crypto sector's carbon emissions and are considering whether a tax increase on crypto mining could help reduce its carbon footprint. In a blog post, the officials suggested that an 85 percent tax hike on power usage by crypto miners could potentially cut the sector's annual emissions by an estimated 100 ...
-
Jack Dorsey-Backed Bitcoin Miner ‘Ocean’ Moves Headquarters to El Salvador
Ocean, a Bitcoin mining pool backed by Jack Dorsey, has established its global headquarters in El Salvador. In the coming months, Ocean plans to bring awareness and training programmes around Bitcoin to the Salvadoran citizens.
-
Jack Dorsey’s Block Platform Creates Chip for Bitcoin Mining, Plans to Create Full BTC Mining System
Jack Dorsey, through his payments firm Block, has announced that the creation of its Bitcoin mining chip has been completed. Following months of research and development, Block has managed to create a 3nm Bitcoin mining chip.
-
Bitcoin ‘Halving’ Software Update Cuts Supply of New Tokens in Threat to Miners
Bitcoin halving, the software update that is designed to cut the amount of Bitcoin released from the network to compensate companies known as miners for validating transactions, has been completed. Most of the impact from the halving is expected to be on Bitcoin mining companies rather than the actual price of the cryptocurrency.
-
Bitcoin Halving 2024: Analysts Predict Drop in Bitcoin Dominance, Altcoins Engagement Could Spike
Bitcoin is gearing to undergo a halving event in the next few days. This process slashes the BTC rewards that miners earn to validate transactions on the blockchain by half – reducing their incentive to mine newer blocks rapidly. This slows down the addition of new tokens in circulation.
-
Crypto Mining Operations Face Crackdown in Norway With New Regulations for Data Centres
Norway is tightening its noose around crypto mining operations in the country. Over the last year, Norway emerged as one of Europe’s largest locations hosting crypto miners. The main incentive for miners to flock to Norway was the provision of affordable electricity.
-
Bitcoin Miners Begin Token Offloading Hoping to Retain Profits Before Upcoming Halving
Bitcoin miners are sprinting to sell portions of their BTC tokens to bag profits from BTC’s current raised prices ahead of the upcoming halving event. After halving, the block reward obtained by miners will be reduced in half, reducing their incentives for mining Bitcoin blocks and slowing down the addition of new tokens.
-
ED Files Charges Against Chinese-Origin Directors, Others in Crypto Mining App Case
A charge-sheet has been filed under the anti-money laundering law against 299 entities, including 10 persons of Chinese origin, in an investigation linked to alleged duping of investors in the name of mining cryptocurrencies such as Bitcoins, the Enforcement Directorate said on Wednesday.
-
Next Bitcoin Halving Scheduled for April 2024, Here’s Why It’s Important
The process of Bitcoin halving roughly happens every three to four years – that's how long it takes for 210,000 blocks to be mined on the Bitcoin blockchain. With the next halving just around two months away, market analysts predict the spike in price of Bitcoin, subsequently leading to the rate hikes for several other cryptocurrencies.
-
A Single Bitcoin Transaction Consumes Enough Clean Water To Fill A Swimming Pool: Study
A single Bitcoin transaction could use the same amount of clean water needed to fill a garden swimming pool, according to a new study on the world's most popular cryptocurrency.
-
Bitcoin Value Could Reach $50,000 Mark This Year, $120,000 by End of 2024, Says Standard Chartered
The value of top cryptocurrency bitcoin could reach $50,000 this year and $120,000 by the end of 2024 Standard Chartered said on Monday, predicting the recent jump in its price could encourage bitcoin "miners" to hoard more of the supply.
-
US Scraps Excise Tax Proposal on Bitcoin Mining After Biden Refuses to Slash Crypto Taxes
Earlier this month, the US’ Council of Economic Advisors (CEA) floated a proposal to have Bitcoin miners pay a tax equal to 30 percent of the total energy cost that they consumed in the crypto mining process. The proposal has been scrapped by the US. The decision to pull the plug on this proposal could be part of a bunch of tax-related rebates in...
