A state-owned electric utility provider in the Canadian province of British Columbia is set to halt all new electricity-connection requests from cryptocurrency miners for a period of 18 months. The B...
Tag: Miners
Canada’s western province, BC, will block new cryptocurrency miners
British Columbia, Canada, will deny electricity to new crypto mining firms, according to a press release published by the provincial government on Dec. 21. BC Hydro, a government-owned company, and th...
One of the Largest Bitcoin Miners Goes Bankrupt
This article originally appeared in First Mover, CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day. Core Scientific, one of...
One of the Biggest Bitcoin (BTC) Miners in the Industry Files for Bankruptcy: Report
A prominent Bitcoin (BTC) and crypto mining firm is reportedly filing for Chapter 11 bankruptcy as the bear market takes its toll on the industry. According to a new report by CNBC, Core Scientific, o...
Are Fears of Bitcoin Miners’ Selling Pressure Overblown? This Expert Thinks So ⋆ ZyCrypto
Advertisement     Crypto’s stretched-out bear market cycle has been attributed to many factors, key among them unfavourable monetary policies by the US Fed, the Russo-...
Bitcoin Miners In Asia Are Facing Difficulty Due To High Energy Costs
In the past 24 hours, the Bitcoin mining profitability rate was at 0.0575 USD/Day for 1 THah/s. Kazakhstan tightens regulations for crypto miners. There has been a steady decline in Bitcoin mining rev...
Kazakhstan Tightens Regulation for Miners, Looks to Develop Broader Crypto Industry
It didn’t take long before Kazakhstan’s electrical grid, much of it a legacy of Soviet times, started crumbling under the new load. On top of the miners’ demand, technical failures in interconnection ...
Most miners tracked Bitcoin lower
Most bitcoin mining stocks tracked by The Block fell on Monday, in line with the coin’s price. Bitcoin prices were around $16,600 by market close, according to data from TradingView. ...
Miners sent 57K Bitcoin to exchanges in 2022; selling pressure decreasing
This year hasn’t been kind to Bitcoin miners as the invasion of Ukraine in February 2022 triggered a global energy crisis, pushing mining costs through the roof. In addition, the collapse of Luna in J...
While Miners Deal With Low BTC Prices, Bitcoin’s Mining Difficulty Target Expected to Increase 3% Higher – Mining Bitcoin News
Bitcoin’s mining difficulty target is expected to increase on Dec. 19, 2022, after printing the largest reduction recorded in 2022 on Dec. 5, at block height 766,080. During the last 2,016 blocks, Bit...
BTC can remain sturdy in the final days of 2022 despite this let down from miners
BTC miners have been experiencing an uptrend in hashrate and difficulty with the revenue not corresponding BTC price will not be impacted by miners sell-off, should it ever occur. Over the last few da...
Can BTC Miners Survive Amid Bitcoin Price Drop?
Bitcoin Price has shown some signs of recovery amid the increased uncertainty in the crypto market. BTC price is up by over 4% in the last 30 days. However, Bitcoin Miners are feeling the heat right n...
Japan is Joining Hands with The Crypto Miners to Power Mining
Japan’s policy choices are furthering sustainable cooperation with its cryptocurrency miners. Bitcoin Mining in Japan Japan-based utility, Tokyo Electric Power (TEPCO) is collaborating with mining equ...
Bitcoin hash rate surges as Ethereum miners shift to mine BTC post-Merge
Amid the ongoing uncertainty in the cryptocurrency industry, an interesting trend emerged after Ethereum (ETH) ended its Proof-of-Work (PoW) mining algorithm and moved to the Proof-of-Stake (PoS) vali...
Bitcoin Miners’ High Hopes for Latin America Dented by Paraguay
At the World Digital Mining Summit in Cancun, Mexico, last month, Bitmain, the world’s largest bitcoin mining rig manufacturer and the host of the conference, touted Latin America, particularly Paragu...
Russia Cracking Down on Crypto Miners Minting in Residential Areas – Mining Bitcoin News
Russian authorities are now prosecuting miners extracting cryptocurrency using subsidized electricity for the population, according to a top official from the energy ministry. Power utilities are dete...
Powerhouse ‘Entergy’ Offers Discounted Rate to Miners in Arkansas
2 hours ago | 2 mins read Bitcoin News Each customer’s bill may be different, however, due to factors like demand charges. The state’s main power utility, Entergy, will determine whether or not client...
US state offers sweet new deal to crypto miners
The US state of Arkansas is positioning itself as a hotbed for troubled crypto miners. Miners have faced much opposition in various jurisdictions owing to the activity’s negative environmental impact....
Lack of Power Resources Mounts Pressure on Crypto Miners in Cuba
Bitcoin News The Cuban Telecom corporation cannot run the telecom grid during periodic outages. Blackouts have made crypto mining in Cuba unfeasible. In Cuba, cryptocurrency has advanced to the point ...
Crypto Miners New ‘Hope’ in The Current Market Condition
The current market downtown is not only causing a financial crisis in the crypto industry but also affecting crypto miners. Many of the crypto miners are struggling for survival as their financial con...
Bitcoin miners, BTC halving rates, and what HODLers can expect in 2024
A new report suggests that the next Bitcoin halving could trigger a rally However, miners could face the pressure as revenues and fees dwindle The next Bitcoin [BTC] halving, which is expected to occu...
Is The Bear Starving for BTC Miners?
The Bitcoin (BTC) m0ners are struggling to repay debt. The mining firms are defaulting on machine-backed loans while some loans’ collateral is worth less than remaining payments. According to the Bloo...
The Weekend Shift: FTX, Miners, Twitter Files
Welcome to the 97th Weekend Shift! What’s the deal? Over the weekend, we’ll update this post with some of the most interesting articles, podcasts, charts, and opinion pieces we’re too busy to write ab...
Bitcoin miners took on billions in debt to ‘pump their stock’—leading to a crypto catastrophe
The phone just won’t stop ringing, beams Zach Bradford, the CEO of Bitcoin mining company CleanSpark. The calls are from other mining bosses—and they’re panicking. After Bitcoin crashed and energy cos...
Crypto law: miners in the crosshairs
Miners targeted by a new crypto law to cease operations if consumption exceeds a certain energy threshold. Gov. Kathy Hochul signed the much-discussed Crypto-Asset Environmental Transparency Act, the ...
New US bill demands Bitcoin miners declare energy consumption
In a statement released on Thursday, US. Senator Edward J. Markey and Representative Jared Huffman said they had introduced the Crypto-Asset Environmental Transparency Act, which would mandate the dis...
Massachusetts Senator Forwards Bill Aimed at Forcing Crypto Miners to Report Greenhouse Gas Emissions – Bitcoin News
On Dec. 8, 2022, three Democratic politicians from Massachusetts, Oregon, and California revealed legislation aimed at combatting “energy-intensive” cryptocurrency mining operations. The bill introduc...
Legislators propose federal reports of gas emissions for crypto miners
Three U.S. lawmakers introduced a bill that would ask the Environmental Protection Agency to study crypto mining activity and require that miners that use more than 5 megawatts of power submit informa...
Bitcoin miners’ balance hits 14-month low, signaling hope for crypto world
Bitcoin (BTC) miners’ balance in the last few months caused pressure in the market, resulting in a price drop. As the number of their assets hits a 14-month low, there is new hope for traders. Miners ...
Crypto Miners in Kazakhstan to Buy Only Surplus Power, Under Digital Assets Bill – Mining Bitcoin News
Companies extracting cryptocurrencies in Kazakhstan will be allowed to purchase only excess electricity on a government-controlled market. The decision comes with new legislation approved by lawmakers...
Russia Expects Sizable Increase in Crypto Miners’ Share of Power Usage – Mining Bitcoin News
The crypto mining industry may see a two-fold increase in its share of Russia’s power consumption in 2022, according to a high-ranking official from the Ministry of Energy. The department supports a b...
Kazakhstan imposes new restrictions on crypto miners and exchanges
Lawmakers in Kazakhstan approve a new bill that requires miners to purchase electricity from the public grid only if there is a surplus and announce a ban on crypto transactions. Miners must buy elect...