As per the reports of Kommersant, a Russian-based newspaper publisher, Russia is considered the world’s second-largest cryptocurrency mining country in the year 2023 – today. Furthermore, the United States ranks at the top of all crypto-mining countries. And, the total power consumption for crypto mining in the US reports 3
British Columbia, Canada, has halted new electricity connection requests from cryptocurrency miners for 18 months to promote the province’s climate action and economic goals. The government of British Columbia stated, the suspension will relieve the province’s power constraints while its main electricity distributor, BC Hydro, is given more time to
Ever since the concept of cloud based crypto mining came to the limelight, the emotions of crypto mining catapulted, and absolutely evolved to a new level. True to the fact, all the drawbacks upon crypto mining have always been a great threat to ban it. In addition, many countries have
New York governor, Kathy Hochul imposed a temporary ban on the crypto mining firms for the next two years. All the mining companies that use carbon-based power sources will be banned immediately. Through this law, the state will focus on balancing both its economic growth and climate goals. Furthermore, implementing
On Monday, President Mario Abdo Bentez of Paraguay rejected a law that would have controlled the commercialization of cryptocurrency mining and other digital asset operations. The president’s official account tweeted, “The Executive Branch objects to the bill that seeks to regulate crypto mining in the country.” According to the decree,
Each country focuses on crypto regulations, some have strengthened the rules but revising and making minor changes is constant. Similarly, the authorities of Iran have amended regulations for the crypto miners which now gives easy-access to renewable sources. This allows licensed miners to purchase electricity generated from renewable energy at
Taxes will be calculated based on the average cost of the electricity used to make coins. PIT rate on dividends was raised from 5% to 10% under the new Tax Code. A bill extending Kazakhstan’s Tax Code to impose higher tax rates on cryptocurrency miners has been enacted by the
Crypto Mining to commence effectively in Russia. Mining to be soon legalized, with the bill already passed. All mined crypto to be sold outside Russia. The Central Bank of Russia (CBR) announces officially that crypto and crypto mining will be legalized back in Russia, provided all the cryptos mined in
Crypto mining has been developed as a way to mine cryptocurrency by using rented cloud computing power without having the need to install or directly run any related software or hardware. People can remotely participate in cryptocurrency mining by opening an account and paying a minimal cost. Thus, cloud mining
Kosovo suffers under immense power crisi for the past two months. Government of Kosovo, orders immediate shut down and ban of all crypto mining industries in the nation. Crypto miners in Kosovo are forced to sell out equipment at dead prices. Yet, another crypto mining fatal disaster surfaces back, completely
