Category: Mining

Montana County to Hold Public Hearings on Zoning Rules for Crypto Miners Amid Growing Complaints

Montana County to Hold Public Hearings on Zoning Rules for Crypto Miners Amid Growing Complaints

Another U.S. county is facing troubles related to crypto mining activities within its territory. This time, the second-largest county in Montana is the protagonist of the story, who will look forward to revisiting local zoning for mining operators. Authorities to Decide on Making Current Rules Permanent According to KPAX, Missoula County authorities seek to hold […]

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Hive Blockchain Buys 6,400 Bitcoin Miners From Canaan, Capacity Reaches 1,229 PH/s

Hive Blockchain Buys 6,400 Bitcoin Miners From Canaan, Capacity Reaches 1,229 PH/s

Canadian bitcoin miner Hive Blockchain has bought 6,400 next generation mining machines from Canaan. The Avalonminer 1246 miners will add a combined 576 petahash per second (PH/s) to Hive’s existing hash power. ● With the addition of the new machines, Hive’s total hash rate will increase to an estimated 1,229 PH/s, well beyond the company’s […]

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Bitcoin miners have made more than $700 million in revenue thus far in January

Bitcoin miners have made more than $700 million in revenue thus far in January

Bitcoin mining revenue for January has already surpassed December’s total, reaching the highest level seen since January 2018. According to data collected by The Block, bitcoin miners have generated $728.71 million as of January 20. By comparison, bitcoin miners brought in roughly $692 million in December, as previously reported.  Underpinning these revenue figures is the […]

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Bitcoin Energy Consumption Is Far More Efficient and Greener Than Today’s Banking System

Bitcoin Energy Consumption Is Far More Efficient and Greener Than Today’s Banking System

While bitcoin and a variety of digital currencies have swelled in value, a number of critics have spread fear, uncertainty, and doubt (FUD) in regard to the energy consumption proof-of-work (PoW) cryptocurrencies leverage to produce new units of currency. Just recently the software engineer Stephen Diehl expressed his dissatisfaction over the environmental cost of bitcoin. […]

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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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45,000 Bitcoin Mining Rigs Confiscated by Iranian Authorities Amid Blackout Controversy

Iranian authorities have confiscated 45,000 bitcoin mining rigs that used subsidized electricity to mine the cryptocurrency. This is yet another considerable seizure in the Middle East country, which has experienced frequent blackouts that the government blamed on BTC mining. 45,000 BTC Mining Machines Confiscated In Iran Local media outlets reported that the police had seized […]

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A Russian Operation Is Mining Bitcoin in the Arctic Circle for Cheap Electricity

A Russian Operation Is Mining Bitcoin in the Arctic Circle for Cheap Electricity

A Russian company is leveraging the Siberian city of Norilsk located above the Arctic Circle in order to mine bitcoins. Bitcluster, the owner of the crypto mining operation, plans to expand the firm’s activities after launching the facility in late 2020. According to the company’s website, the datacenter is getting electricity rates as low as […]

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Michael Novogratz’s Galaxy Digital to Jump Into BTC Mining

Mike Novogratz’s Galaxy is planning a significant leap into the Bitcoin mining sector. Galaxy Digital Mining will be the designated new fraction of the investment company. The upcoming project will reportedly focus on establishing a new business body aimed at providing financial services for miners. Delivering Financial Services to Miners According to an official press release, […]

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Galaxy Digital is launching a new bitcoin mining business unit

Galaxy Digital is launching a new bitcoin mining business unit

Crypto investment company Galaxy Digital announced Friday that it is launching a new suite of financial services and tools for the bitcoin mining sector. What’s more, the Toronto-listed firm is also mining bitcoin for itself via a third-party, U.S.-based data center, which is hosting hardware owned by Galaxy. Galaxy’s new business unit, dubbed Galaxy Digital […]

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