Mining

The lower house of Kazakhstan’s parliament – Mazhilis – reportedly greenlighted new bills that aim to establish appropriate rules in the local crypto sector. They will require miners to create authorized entities, register with the regulators, and continue being subject to taxation. Solving the Problem With ‘Gray Miners’ Despite being a global leader in cryptocurrency mining, Kazakhstan has certain issues with the so-called “gray miners” who conduct their operations without...

Yuga Labs – the team behind the popular Bored Ape Yacht Club (BAYC) NFT collection – is now under investigation by the Securities and Exchange Commission (SEC). The commission is examining whether the company violated securities laws by issuing certain NFTs, or through their newly launched crypto token ApeCoin.  SEC Versus NFTs A person unfamiliar with the matter told Bloomberg that the SEC seeks to find out whether some of the firm’s NFT more closely resemble stocks, and if...

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Mining has come a long way since the early days of Bitcoin when individuals could use their home computers to mine coins. These days, miners rely on expensive hardware and large-scale operations to generate new coins. But what if there was a way to participate in mining without having to invest in expensive hardware? Cloud mining is an option that allows you to do just that. Cloud mining is the process of mining cryptocurrencies using a remote datacenter with shared...

Grayscale – the world’s largest cryptocurrency asset manager – has announced a new investment product providing exposure to Bitcoin mining hardware. The fund will raise money for buying Bitcoin ASIC machines, which will be operated by Foundry Digital to mine and sell Bitcoin on behalf of investors.  Grayscale’s Strategic Mining Play According to Grayscale’s website, Grayscale Digital Infrastructure Opportunities LLC (GDIO) is aimed at creating an income stream that...

Bitcoin has gotten quite a few shakeups in the previous weeks largely due to activity from both Ethereum – the second largest digital currency by market cap and its number one competitor – after the Merge, and the Federal Reserve, which held another meeting about a week after it took place. Has Ethereum Weakened Bitcoin? It appears bitcoin can’t seem to receive a stable rest over the past several months. The currency has undergone some of its most bearish conditions, and...

Trygve Slagsvold Vedum – the Finance Minister of Norway – urged the government to scrap its crypto program that allows domestic bitcoin miners to pay a reduced rate on electricity. In his view, the current market conditions and the ongoing energy crisis in Europe are key reasons for this amendment. BTC Miners Should not Be Treated Differently In 2016, the Norwegian government introduced certain energy benefits for data centers, including cryptocurrency miners, by enabling...

The US-based bitcoin miner – Marathon Digital Holdings Inc. – reportedly has exposure of more than $80 million in one of its hosting providers – Compute North. Two weeks ago, the latter joined the list of troubled entities affected by the ongoing crypto winter, filing for a Chapter 11 bankruptcy. Multi-Million Exposure According to a coverage by Bloomberg, the cryptocurrency miner had invested $10 million in convertible preferred stock of Compute North. It had allocated an...

Following the Ethereum Merge which occurred on September 14 of this year, a bonus reward was placed in the pockets of energy and climate advocates everywhere. It seems after the Merge was complete, the world’s energy consumption fell by roughly .2 percent overnight. Who would have known that mining ETH really did utilize that much energy? The Ethereum Merge Has Significantly Lowered Worldwide Energy Use The Merge has been a long talked-about event that would occur with...

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