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Tag Archives: Bitcoin Mining

New York Suggests Two-Year Moratorium on Crypto Mining

The state of New York has introduced a new bill that if passed, would officially end all future proof of work (PoW) mining operations that want to call the Empire State home. New York Could End Crypto Mining for a While Right now, the bill is being discussed by the New York State Assembly in Albany, the region’s capital. The bill calls for a moratorium of not less than two years on all crypto mining operations within the state’s borders. The idea is to further study the...

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China Emerges as Leading Bitcoin Mining Hub a Year After Crackdown: Cambridge Data

China outlawed Bitcoin mining last May. Exactly a year later, the country has re-emerged as the leading venue for mining operations. A new study revealed underground mining activity in the country had catapulted it to second place globally in terms of installed mining capacity. China’s Apparent Comeback Cambridge Centre for Alternative Finance (CCAF) reported the surprising resurgence and further stated that China currently dominates with a 21.11% market share just behind the...

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Dorsey, Saylor and Others Pen Letter Claiming Crypto Mining Isn’t Damaging the Planet

Several bitcoin advocates – including Jack Dorsey of Twitter fame, Tom Lee from Fundstrat, and Michael Saylor (the CEO of MicroStrategy) – have penned a letter to congressional democrats who are asking that the Environmental Protection Agency (EPA) examine the effects of crypto mining on the planet. Crypto Mining Isn’t the Monster Everyone Thinks It Is The letter is aimed at getting these democrats to rescind their order to have the agency look at the emissions of said...

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Russian Crypto Miner Considers Suing US Authorities for Imposed Sanctions

BitRiver –  Russia’s largest data center services provider – is pondering over filing a lawsuit against the US Treasury Department for adding the company to the sanction list last month. Besides, the firm accused the US of breaching WTO rules through the act of promoting unfair competition and lobbying for the US mining industry. BitRiver Called US Accusations “Unfounded and Untrue” According to its press release, BitRiver argued that it is a 100% private company with no...

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Fort Worth, Texas Is the First Official US City to Mine Crypto

Fort Worth, Texas has become the first city government in all the United States to mine bitcoin. The city is employing three Antminer S9 rigs that will run all day, every day in a technology wing of the region’s city hall. Fort Worth, Texas Is at the Heart of BTC Mining Per city estimates, each rig will require about as much energy as a standard vacuum cleaner. Officials assure residents that the process will be clean. In addition, all three machines will be run on a...

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How Eric Taing Went from Real Estate Investments to Crypto Mining

Eng Taing is a real estate investor who loves making money. So much so that he’s now getting into crypto. Aside from putting his money into the housing market, he’s now established a new crypto mining firm consisting of about 261 machines. Eng Taing Has Set Up a Successful BTC Mining Firm In a recent article, Taing says that while crypto isn’t necessarily his first love, he sees the industry has a lot of potential. Thus, he wants to be in on the wealth secrets that the...

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Bitcoin Miner Argo Blockchain Borrows $70M to Buy Equipment for Texas Site

Popular Bitcoin miner Argo Blockchain has announced taking on additional debt under Argo’s equipment financing agreement from a subsidiary of New York Digital Investment Group (NYDIG). The move will help Argo fund the purchase of mining equipment for its Helios facility in Dickens County, Texas. Argo Seeks Additional Equipment Financing From NYDIG As part of the financing, Argo will borrow up to $70.6 million from NYDIG, the interest rates set at 12%, the official press...

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US Issues New Sanctions Against Crypto Miners in Russia

The United States is imposing more sanctions on Russia for its alleged involvement in the Ukraine invasion. The country is now saying it will penalize all crypto miners who seek to assist Russia in evading the present regulations set forth by the U.S. and its allies. Russia Is Getting Hit Again The United States has long been at it with Russia. The country potentially invaded Ukraine back in February despite many attempts from the U.S. and other countries to dissuade it...

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Bitcoin Community Sends Letter to EPA Debunking Proof of Work FUD

Several Bitcoin communities and industry leaders have issued a letter to the Environmental Protection Agency (EPA) to clear up confusion and educate the public about Bitcoin’s power consumption. Among its 55 signatories are MicroStrategy CEO Michael Saylor, and “Block Head” Jack Dorsey. Proof of Stake is Not the Answer The letter – shared by the Bitcoin Mining Council – was designed as a response to a previous congressional request to review mining facilities’ compliance with...

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Crypto Mining Company Crusoe Energy Gets a Lot of Money

A mining company in Denver, Colorado called Crusoe Energy has gotten its hands on $350 million through a new series C funding round led by G2 Venture Partners. Crusoe Energy Just Built Up Its Financial Reserves Crusoe Energy is famous for its ability to use wasted natural gas as power for mining bitcoin units. This is an argument that continues to arise in the crypto mining world. Can miners potentially use renewable energy to mine their assets so that the Earth is not...

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