Category: Mining

75% of Marathon’s Mining Operation Is Still Out of Commission

75% of Marathon’s Mining Operation Is Still Out of Commission

It has been two weeks since a devastating storm hit the town of Hardin, Montana. Bitcoin mining firm Marathon Digital Holdings revealed that they have yet to recover from the storm. According to Marathon’s statement on its website, the power generating facility responsible for supplying the company’s local mining operations was damaged by the storm.  […]

Continue Reading

Mining Ban Sparks Negative Reactions From Iran’s Crypto Community

Mining Ban Sparks Negative Reactions From Iran’s Crypto Community

The recently reintroduced seasonal ban on cryptocurrency mining has provoked backlash from the local crypto community. This week, the country’s power distribution company ordered miners to suspend activities citing electricity shortages during the hot summer months. Restrictions on Crypto Mining Are Ousting Iran From Global Coin Minting Industry, Critics Say After last year crypto miners […]

Continue Reading

Hardware Worth $1.9 Million Stolen in Russia’s Crypto Mining Capital

Hardware Worth $1.9 Million Stolen in Russia’s Crypto Mining Capital

Russian law enforcement is looking into the alleged theft of mining hardware valued at around $1.9 million. The powerful computing equipment disappeared from a crypto mining hotel in Irkutsk, the owners of which have been accused of large scale fraud. 100 Russians Lose Mining Machines Worth 100 Million Rubles Police in the Russian Irkutsk Oblast […]

Continue Reading

Following BTC’s Price Drop, Bitcoin Miners Benefit From a 2.35% Difficulty Reduction

Following BTC’s Price Drop, Bitcoin Miners Benefit From a 2.35% Difficulty Reduction

During the past week, Bitcoin’s hashrate has dropped a few percentages after reaching 288 exahash per second (EH/s) on June 8, 2022. Bitcoin miners, however, got a break on Wednesday, June 22, as the mining difficulty dropped by 2.35% making it easier for miners to find blocks. The 2.35% drop brings the difficulty down to […]

Continue Reading

Iran to Shut Down Crypto Mining Farms Amid Record High Power Demand

Iran to Shut Down Crypto Mining Farms Amid Record High Power Demand

Authorities in Iran plan to unplug licensed crypto mining facilities as electricity consumption in the country is reaching record highs. The mining farms will be cut off from the grid on Wednesday, the Islamic Republic’s Ministry of Energy announced. Legal Crypto Miners in Iran to Halt Operations Again Due to Electricity Shortages Authorized crypto mining […]

Continue Reading

Bitcoin’s Sinking Price Pushes Hashrate Below 200 Exahash, Mining Difficulty Expected to Slide 2.8% Lower

Bitcoin’s Sinking Price Pushes Hashrate Below 200 Exahash, Mining Difficulty Expected to Slide 2.8% Lower

While bitcoin’s price dropped below the $20K region, the network’s hashrate slipped under the 200 exahash per second (EH/s) region to 167 EH/s on June 18. At the time of writing, the hashrate is coasting along at 184 EH/s after a slight rebound following the drop. With the price per bitcoin lower this week and […]

Continue Reading

Kazakhstan Allows Registered Crypto Exchanges to Open Accounts at Local Banks

Kazakhstan Allows Registered Crypto Exchanges to Open Accounts at Local Banks

Government officials in Kazakhstan have approved regulations that will govern interactions between authorized coin trading platforms and traditional financial institutions. The new rules will allow registered cryptocurrency exchanges to have bank accounts in the country. Pilot Project to Develop Kazakhstan Into Regional Crypto Hub Regulations allowing crypto exchanges registered at the Astana International Financial Center […]

Continue Reading

Bitcoin’s Hashrate Hits an All-Time High Nearing 300 Exahash per Second

Bitcoin’s Hashrate Hits an All-Time High Nearing 300 Exahash per Second

While Bitcoin’s mining difficulty was expected to decrease two days ago on June 8, instead the difficulty increased by 1.29% on Wednesday. On the same day, at block height 739,928, Bitcoin’s hashrate tapped an all-time high (ATH) reaching 292.02 exahash per second (EH/s). Bitcoin’s Blockchain Secured by Close to Three Hundred Quintillion Hashes per Second […]

Continue Reading

Bitfarms Worried About The Fall In Bitcoin Prices Amidst Its Investment Plan in Latam

Bitfarms Worried About The Fall In Bitcoin Prices Amidst Its Investment Plan in Latam

Bitfarms, a global bitcoin mining company, has told that the price of bitcoin, above all other elements, is one of the most important factors for the future of the industry. Damián Polla, Bitfarm’s Latam General Manager, stated that countries like Argentina, where Bitfarms is currency building a bitcoin mega-mining center, were a very good destiny […]

Continue Reading

New York Bill That Aims to Establish a Bitcoin Mining Moratorium Awaits Governor Hochul’s Signature

New York Bill That Aims to Establish a Bitcoin Mining Moratorium Awaits Governor Hochul’s Signature

The state of New York passed a bill that puts a moratorium on specific types of cryptocurrency mining operations that leverage carbon-based energy sources. The policy will place a two-year ban on proof-of-work (PoW) mining if the assembly bill is approved by New York governor Kathy Hochul. New York PoW Mining Moratorium Legislation to Be […]

Continue Reading