Miners

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

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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 … Read more

Bitriver to Mine Crypto Using Excess Gas From Gazprom Neft’s Oil Extraction

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Russian crypto mining operator Bitriver will use electricity generated from associated gas provided by Gazprom Neft to mint digital coins. As part of a new agreement, the mining company will in return develop the digital infrastructure at the oil producer’s wells in Russia. Crypto Mining Operator Bitriver to Cooperate With Russian Oil Giant Gazprom Neft … Read more

Kazakhstan Allows Registered Crypto Exchanges to Open Accounts at Local Banks

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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 … Read more

Will Bitcoin Fall to $13,800? — What an 80% Drawdown Will Look Like From Here

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On Monday, June 15, 2022, the price of bitcoin tapped a low not seen since mid-December 2020 as the price hit $20,080 per unit. A large number of crypto supporters are debating whether or not the drop is the market’s bottom or if the fall could lead to deeper losses. At the time of writing, … Read more

Crypto Miners Account for Over 2% of Electricity Consumption in Russia, Estimate Suggests

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The share of crypto miners in Russia’s power consumption structure already exceeds 2%, according to a new government estimate. On this backdrop, the country’s industry ministry believes it’s time to bring the sector out of the shadows and regulate it. Crypto Miners Burn More Electricity Than Russian Farmers Miners extracting digital currencies account for more … Read more

No Tax Amnesty for Russian Crypto Miners as Lawmakers Withdraw Proposal

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A new draft law has replaced an earlier bill introducing a one-year tax and customs amnesty for cryptocurrency miners in Russia. The initial proposal has been withdrawn on the grounds that the tax break would have resulted in losses for the state budget. Revised Crypto Mining Legislation Submitted to Russian Parliament Without Amnesty for Miners … Read more

Crypto Mining Farm Uncovered in Russia’s Oldest Prison

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Russian law enforcement officials are investigating a crypto mining operation at Butyrka, Russia’s oldest prison. A deputy warden has been accused of stealing electricity to mint digital coins with the help of unidentified accomplices. Deputy Warden Suspected of Mining Cryptocurrency in Moscow Prison A high-ranking representative of the management of Butyrskaya prison, in the Tverskoy … Read more