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Nations like Russia and Iran may utilize cryptocurrency mining to monetize their energy resources and circumvent sanctions, the International Monetary Fund predicts in a report. Repercussions of the war in Ukraine continue to reverberate globally and cryptoization is one of the effects, the IMF says. War, Sanctions Lead to Wider Spread of Crypto Assets, Report … Read more
The upcoming Decred hard fork also plans to increase DCR rewards for PoS validators from 30% to 80%. Go to Source Powered by WPeMatico
As the crypto economy hovers just under $2 trillion in value, application-specific integrated circuit (ASIC) mining devices are making decent profits. While ASIC miners can still mine ethereum, a 1.5 gigahash (GH/s) Ethash mining device can rake in $51.58 per day in profits. SHA256 bitcoin miners that can process at speeds up to 110 terahash, … Read more
The government of Kazakhstan is preparing to increase the tax burden for cryptocurrency miners and intends to tie the new rate to the value of the minted cryptocurrency. The authorities in Nur-Sultan believe that such an approach would have a positive effect on the state budget. Miners in Kazakhstan to Pay Tax on the Value … Read more
Authorities in Abkhazia have decided to maintain a ban on cryptocurrency mining in the territory. The partially recognized republic in the South Caucasus is restricting the energy-intensive extraction of digital currencies, citing problems with power supply. Bitcoin Mining Remains Prohibited in Abkhazia The government of Abkhazia, a breakaway republic in Georgia, has prolonged current restrictions … Read more
In the past two years, law enforcement authorities in Malaysia have arrested hundreds of individuals for theft of electricity allegedly used to mint digital currencies. The country’s police force has also confiscated equipment worth millions of dollars. Malaysia Police Announce Results From Crackdown on Illegal Mining Since 2020, Malaysian authorities have detained a total of … Read more
The legal vacuum in the crypto mining sector must be filled “as soon as possible,” according to a statement by Russian Deputy Minister of Energy Evgeniy Grabchak. The government official also called for introducing regional quotas for crypto farms instead of regulating their business at the federal level. Russian Official Proposes Regional Energy Quotas for … Read more
Law enforcement officers in Kazakhstan have busted another mining facility as they continue to crack down on illegal activities in the sector. The crypto farm, located at a railway station, is the latest targeted mining operation in the country which has been struggling with its power deficit. Authorities in Kazakhstan Seize Over 100 Mining Rigs … Read more
More than 100 crypto farms in Kazakhstan have terminated operations as a result of ongoing inspections of the mining sector. Authorities have revealed that some of the facilities are linked to prominent businessmen and former government officials. Financial Watchdog Goes After Crypto Miners Across Kazakhstan The rapid expansion of crypto mining in Kazakhstan, since last … Read more
After bitcoin miners caught a break ten days ago when the difficulty dropped 1.49% lower, the network’s hashrate increased more than 15% since then. Currently, the processing power has been coasting along above the 200 exahash per second (EH/s) zone but another difficulty increase is expected to occur in less than four days. Bitcoin’s Hashrate … Read more
