Energy Used In Cryptocurrency Mining

The government of Venezuela has joined forces with the national electrical system to identify and disconnect crypto mining farms from the power grid in the course of the coming few days. The Venezuelan Ministry of Electrical Energy (MPPPE) has already kick started a power supply control plan to bust crypto mining clusters.

The US government has proposed to raise the taxes on the electricity requirement for miners. The tax imposed on the electricity usage by crypto mining firms could now go as high as 30 percent of total cost of the electricity that was used to facilitate the mining process in the US.

Australia’s Arkon Energy has managed to raise $28 million (roughly Rs. 228 crore) to expand its eco-friendly BTC mining operations. The company extracts renewable power trapped in electricity markets to sustainably lower its costs.

Bitcoin mining has hit a new record in the aftermath of the Ethereum Merge, the technical upgrade that replaced as many as one million powerful computers with Ether holders to validate transaction data encrypted by the network and reduce its carbon footprint by 99 percent. Meanwhile, mining difficulty, a measure of Bitcoin miners’ computing power...

Bitcoin has made slim gains in the use of green energy, or sustainable energy this year, according to research by Cambridge University. Fossil fuels made up some 62 percent of Bitcoin's energy mix in January 2022, the latest data available, versus 65 percent a year earlier, as per the Cambridge Bitcoin Electricity Consumption Index (CBECI). The stu...

Uzbekistan will reportedly allow companies to mine cryptocurrencies using solar energy and will exempt all crypto operations by domestic and foreign companies from income tax.

Kazakhstan is ramping up efforts to bust illegal crypto mining hubs in the country, that is currently facing electricity woes. The authorities have registered 25 criminal cases and seized over 67,000 pieces of equipment worth about KZT 100 billion (roughly Rs. 1,478 crore) as part of these raids.

Bitcoin prices have surged as investors again appear to view the volatile cryptocurrency as a safe haven for their money and Russians and Ukrainians seek alternatives to their country's financial institutions.

The ministry of energy in Kazakhstan identified 13 illegal crypto mining centres and busted their operations. The development comes after the government of Kazakhstan instructed all crypto mining centres to identify themselves with relevant paperwork before March 19. Crypto mining is overloading the power grids in the central Asian country.

MintGreen has developed a technology that recovers over 96 percent of the electricity used for powering Bitcoin mining – as a heat source. The heat energy generated with this tech will be distributed to over 50,000 residents of North Vancouver.

El Salvador President Nayib Bukele has tweeted that his country has mined Bitcoin, the world's largest cryptocurrency, using energy from a volcano. He shared an image of the mining in progress, which showed 0.00599179 Bitcoin, worth about $284 (roughly Rs. 21,098) at the current trading rate.

Ether can outperform Bitcoin after its upgrade scheduled to go live on Wednesday, August 4, says Pantera Capital CEO Dan Morehead. EIP 1559 significantly changes how transactions are processed on the Ethereum blockchain as well as reduces supply of the ether token.

Tesla will most likely restart accepting Bitcoin as payments once it conducts due diligence on the amount of renewable energy used to mine the currency, CEO Elon Musk said at a conference.

A family of farmers in the UK has come up with an innovative yet simple solution to address concerns about the high power consumption of cryptocurrency mining. They use machines that turn cow muck into renewable energy for the process.

Chia, considered to be a 'green' alternative to Bitcoin, and whose mining requires more storage space than processing power, is now said to be causing a shortage of hard drives in Asia.

The government of Venezuela has joined forces with the national electrical system to identify and disconnect crypto mining farms from the power grid in the course of the coming few days. The Venezuelan Ministry of Electrical Energy (MPPPE) has already kick started a power supply control plan to bust crypto mining clusters.

The US government has proposed to raise the taxes on the electricity requirement for miners. The tax imposed on the electricity usage by crypto mining firms could now go as high as 30 percent of total cost of the electricity that was used to facilitate the mining process in the US.

Australia’s Arkon Energy has managed to raise $28 million (roughly Rs. 228 crore) to expand its eco-friendly BTC mining operations. The company extracts renewable power trapped in electricity markets to sustainably lower its costs.

Bitcoin mining has hit a new record in the aftermath of the Ethereum Merge, the technical upgrade that replaced as many as one million powerful computers with Ether holders to validate transaction data encrypted by the network and reduce its carbon footprint by 99 percent. Meanwhile, mining difficulty, a measure of Bitcoin miners’ computing power...

Bitcoin has made slim gains in the use of green energy, or sustainable energy this year, according to research by Cambridge University. Fossil fuels made up some 62 percent of Bitcoin's energy mix in January 2022, the latest data available, versus 65 percent a year earlier, as per the Cambridge Bitcoin Electricity Consumption Index (CBECI). The stu...

Uzbekistan will reportedly allow companies to mine cryptocurrencies using solar energy and will exempt all crypto operations by domestic and foreign companies from income tax.

Kazakhstan is ramping up efforts to bust illegal crypto mining hubs in the country, that is currently facing electricity woes. The authorities have registered 25 criminal cases and seized over 67,000 pieces of equipment worth about KZT 100 billion (roughly Rs. 1,478 crore) as part of these raids.

Bitcoin prices have surged as investors again appear to view the volatile cryptocurrency as a safe haven for their money and Russians and Ukrainians seek alternatives to their country's financial institutions.

The ministry of energy in Kazakhstan identified 13 illegal crypto mining centres and busted their operations. The development comes after the government of Kazakhstan instructed all crypto mining centres to identify themselves with relevant paperwork before March 19. Crypto mining is overloading the power grids in the central Asian country.

MintGreen has developed a technology that recovers over 96 percent of the electricity used for powering Bitcoin mining – as a heat source. The heat energy generated with this tech will be distributed to over 50,000 residents of North Vancouver.

El Salvador President Nayib Bukele has tweeted that his country has mined Bitcoin, the world's largest cryptocurrency, using energy from a volcano. He shared an image of the mining in progress, which showed 0.00599179 Bitcoin, worth about $284 (roughly Rs. 21,098) at the current trading rate.

Ether can outperform Bitcoin after its upgrade scheduled to go live on Wednesday, August 4, says Pantera Capital CEO Dan Morehead. EIP 1559 significantly changes how transactions are processed on the Ethereum blockchain as well as reduces supply of the ether token.

Tesla will most likely restart accepting Bitcoin as payments once it conducts due diligence on the amount of renewable energy used to mine the currency, CEO Elon Musk said at a conference.

A family of farmers in the UK has come up with an innovative yet simple solution to address concerns about the high power consumption of cryptocurrency mining. They use machines that turn cow muck into renewable energy for the process.

Chia, considered to be a 'green' alternative to Bitcoin, and whose mining requires more storage space than processing power, is now said to be causing a shortage of hard drives in Asia.