Thu, November 14

FTX CEO Sam Bankman-Fried Turns Up to Deny Yet Another Rumor

SBF confirmed that FTX is not open to acquire crypto mining firms. Earlier, FTX had provided more than $240 million credit line to BlockFi. Sam Bankman-Fried (SBF), the founder of cryptocurrency exchange FTX, declined the latest rumor surrounding the company. On Saturday, SBF cleared the speculation through a tweet that

July 4, 2022 2 mins read

Uzbekistan Sets Strict Guidelines for Crypto Mining With Solar Power Mandate

Uzbekistan-registered exchange would be the sole option for trading in mined assets. Only crypto exchanges founded by foreign legal companies were given legal standing. According to The National Agency of Prospective Projects (NAPP), the Uzbekistan government expects a lot from cryptocurrency mining companies. Only firms who mine Bitcoin (BTC) or

June 29, 2022 2 mins read

Bitcoin (BTC) Price Decline Hits Miners Hard, Forcing To Liquidate Holdings

Almost $4 billion in mining-rig-backed loans are in jeopardy.  Bitcoin miners who need to sell would continue to exert downward pressure. Miners have been hit hard by the 21% decline in the price of bitcoin (BTC) since it peaked two weeks ago. According to a Bloomberg report, some mining-machine-backed debts

June 27, 2022 1 min read

Total Power Consumption of Bitcoin Network Drops Drastically in 2022

At its height, the BTC network used 16.09 GW of electricity. Banks accounted for 56 times higher energy use than the Bitcoin ecosystem on June 16. In response to the two-week decline in the mining hash rate, the total power consumption of the Bitcoin (BTC) network dropped dramatically, resulting in

June 25, 2022 1 min read

Kazakhstan Earnings Turns Out $1.5 Million as per Q1 Crypto Mining Report

The country is a global leader in the hash rate of BTC mining. The government is contemplating raising municipal costs for cryptocurrency mining. The government of Kazakhstan, one of the biggest nations in the world in terms of the distribution of Bitcoin (BTC) mining hash rates, has announced budget gains

June 1, 2022 1 min read

Russian Prison Officials Running Crypto Mining Seized

Many Russians are turning to subsidized and even unauthorized power. Machines used over 8,400 kW of power paid for by the government. The Butyrskaya jail in central Moscow’s Tverskoy District is under scrutiny for a high-ranking prison official’s crypto mining farm. The oldest Russian jail, also known as Butyrka, was

May 23, 2022 1 min read

9,219 Bank Accounts Frozen by Iran Over Suspicious Crypto Transactions

The Ministry of Finance froze more than 9,219 bank accounts belonging to 545 people. Iranian authorities are also taking action against cryptocurrency mining beyond the law. According to a statement released Saturday, foreign cash and cryptocurrency transactions have been deemed suspicious by Iran’s Ministry of Intelligence. The Ministry of Finance

May 17, 2022 1 min read

Bitcoin Network More Secure as Mining Difficulty Records ATH of 31.251 Trillion

BTC miners are responsible for verifying the authenticity of transactions. BTC remains the most durable blockchain network. Dispelling any fears of a blockchain assault, the Bitcoin (BTC) network has now reached an all-time high mining difficulty of 31.251 trillion, breaking the previous record of 30 trillion for the first time.

May 14, 2022 1 min read

Mining Capital Coin CEO Accused of $62M Cryptocurrency Scam

Crypto mining and trading were not the focus of Mining Capital Coin’s investments. Last week, a South Korean crypto exchange chief executive was detained. The U.S. Department of Justice has accused Luiz Capuci Jr., Mining Capital Coin CEO, of organizing a huge cryptocurrency fraud operation. Charged with many felonies, including

May 7, 2022 1 min read