Category: crypto mining

Iran Seizes 45,000 Bitcoin Miners for Illegally Using Subsidized Government Electricity: Report

Iran Seizes 45,000 Bitcoin Miners for Illegally Using Subsidized Government Electricity: Report

Police in Iran have reportedly seized 45,000 bitcoin mining rigs for illegally using subsidized electricity from the state-owned power utility Tavanir, the local Tasmin News Agency reported this week. According to Mohammad Hassan Motavalizadeh, head of Tavanir, the efficient application-specific integrated circuit (ASIC) bitcoin miners had been consuming 95 megawatts (MW) per hour of electricity […]

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Nvidia could make crypto mining GPUs again if there’s demand, says CFO

Nvidia could make crypto mining GPUs again if there’s demand, says CFO

Chipmaker Nvidia could restart manufacturing dedicated crypto mining GPUs (graphics processing units) if there is demand, according to its CFO Colette Kress.  Speaking at a conference last week, Kress said, “if crypto demand begins or if we see a meaningful amount, we can also use that opportunity to restart the CMP product line to address ongoing […]

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Crypto Mining Hardware Manufacturer Whatsminer Plans to Launch Public Offering in the US

Crypto Mining Hardware Manufacturer Whatsminer Plans to Launch Public Offering in the US

One of the world’s biggest bitcoin mining machine manufacturers is preparing to go public in the United States. China-based Whatsminer is reportedly looking to obtain additional funds to buy Samsung chips with the initial public offering (IPO). Whatsminer’s Revenue Could Hit $1 to $2 Billion in 2021 According to Chinese media outlets and Asian journalist […]

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Publicly-Listed Lottery Company to Buy $14.4M Worth of Bitcoin Mining Machines

Publicly-Listed Lottery Company to Buy $14.4M Worth of Bitcoin Mining Machines

A U.S. listed Chinese sports lottery firm announced that it has entered into a purchase agreement to acquire bitcoin (BTC) mining machines. The deal involves the issuing of $14.4 million worth of 500.com Class A ordinary shares. Models Include S17, T17, M20s and S9 According to the announcement, 500.com Ltd reached an initial agreement to […]

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Central Washington Raises Concerns Over Possible Bitcoin Mining Boom

Central Washington Raises Concerns Over Possible Bitcoin Mining Boom

A region in the Pacific Northwest of the United States is on high alert because of concerns about a possible invasion of bitcoin (BTC) miners. The state has previously experienced an influx of Chinese bitcoin miners, due to decreasing electricity prices. Bitcoin Bull-Run Could Revive Interest in Mining, Officials Warn Per the Seattle Times, bitcoin’s […]

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Iran Shuts Down 1,620 Cryptocurrency Mining Farms

Iran Shuts Down 1,620 Cryptocurrency Mining Farms

Since Iran began recognizing cryptocurrency mining as an industry, it has reportedly shut down 1,620 unauthorized crypto mining farms. Crypto miners initially welcomed the recognition but later said that the electricity tariffs were too high. 1,620 Crypto Mining Farms Shut Down in Iran Iranian authorities have reportedly closed down 1,620 illegal cryptocurrency mining farms since […]

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Record-Low Electricity Prices in Sweden Make It ‘a Lucrative Place’ to Mine Bitcoin, Says Report

Record-Low Electricity Prices in Sweden Make It ‘a Lucrative Place’ to Mine Bitcoin, Says Report

Bitcoin miners are finding the Nordic lands a profitable opportunity to boost their revenues due to a plunge in electricity prices at the cheapest levels than any other well-known places for crypto mining. Bitcoin Miners Could Find ‘Lucrative’ Opportunities in Norway and Sweden According to a Bloomberg report, the Nordic region, specifically Norway and Sweden, […]

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Bitcoin Miners Earn Over $1 Million per Hour — Revenue Increases 185% Since the 2020 Halving

Bitcoin Miners Earn Over $1 Million per Hour — Revenue Increases 185% Since the 2020 Halving

Bitcoin miners have been yielding a very profitable year in monthly revenues, as the latest onchain data shows significant figures at its highest levels since 2019. Hourly Bitcoin Mining Revenues Hits 2019 Highs According to Glassnode, BTC miners are currently earning $1 million per hour, meaning an increase of 185% since the halving happened in […]

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Central Bank of Iran Official Says Cryptocurrencies Have ‘Made No Contribution to Bypassing Sanctions’

Central Bank of Iran Official Says Cryptocurrencies Have ‘Made No Contribution to Bypassing Sanctions’

An official with the Central Bank of Iran (CBI) has claimed that cryptocurrencies have played no significant role in Iran’s sanction hit economy. According to Mohammadreza Mani Yekta, the deputy head of CBI’s office for payment systems, “studies” have shown that digital currencies have “made no contribution to bypassing the sanctions.” The unenthusiastic assessment of […]

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Organizations File Lawsuit Against New York Town to Prevent Bitcoin Mining Facility Expansion

Organizations File Lawsuit Against New York Town to Prevent Bitcoin Mining Facility Expansion

Organizations led by an environmental organization filed a lawsuit against the U.S. town Torrey in New York for giving the green light to expand a bitcoin mining facility at the Greenidge Generation power plant. Environmental Organization Leads Lawsuit Against New York Town for Approving Plan to Expand BTC Mining Facility Per court documents, the Sierra […]

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