Tag Archives: Bitcoin Mining

Montana environmentalists aren’t happy about a decommissioned coal mine going into business again, this time as a crypto mining facility. Crypto Mining Rubs Climate Friendly People the Wrong Way Known as the Hardin generating station, the facility is a 115-megawatt coal plant located near the site of the historic battle of Little BigHorn. It was slated to close in 2018 given the lack of customers, and usage has seriously died down as of late. However, it looks like a...

ConocoPhillips – one of the biggest producers of oil and gas in the world – is entering the crypto mining space. The company announced early last week that it is heading a bitcoin mining pilot project in what’s known as the Bakken, a region in North Dakota popular amongst new producers of energy in the U.S. ConocoPhillips Has Found a Way to Put Excess Oil to Use A spokesperson for the company explained that ConocoPhillips is not operating the project itself. Rather, it’s...

Right after China slapped a ban on Bitcoin (BTC) mining, the operations have started to spread worldwide and invade not-so-friendly territories. In Malaysia, illegal crypto mining operations are at a record high. Drastic Rise in Bitcoin Mining Bukit Aman Criminal Investigation Department (CID) chief Datuk Seri Abd Jalil Hassan revealed that in 2021 alone, Malaysia had 570 investigation papers opened, 528 people arrested, and around $13 million worth of mining equipment...

Bitcoin has been treading in volatile waters. Despite the recent price dump, though, the Bitcoin network has hit yet another high, this time, in terms of mining difficulty. Higher Difficulty For Bitcoin Miners According to the latest data from CoinWarz, the Bitcoin difficulty increased by 5% to 27.97 trillion on February 18. In a span of three weeks, the metric went through positive readjustments twice, with the first one reaching 26.64 trillion on January 21. To put things...

Brent Whitehead and Matt Lohstroh are two young men from Texas that have already made millions mining bitcoin and other forms of crypto. The two have worked hard to establish a new company called Giga Energy Solutions, which mints bitcoin from natural gas. Brent and Matt Chose to Follow Bitcoin Both Brent and Matt come from oil families, and they were met with skepticism when they first announced three years ago that they wanted to go into the mining sector. However,...

Texas is quickly becoming one of the biggest crypto mining hubs in the world to the point that current governor Greg Abbott is making bringing more crypto jobs and companies to the Lone Star State part of his reelection campaign. Texas and Crypto Mining… A Great Match? The migration of crypto miners to Texas began in the summer of last year. China – which at one point housed more than 65 percent of the world’s digital mining projects – decided the practice should be...

A tax law that was implemented in 2017 as a means of helping poor communities is allegedly being taken advantage of by crypto miners and investors. Crypto Investors Are Using a Tax Law to Their Advantage The law in question allowed certain individuals and companies to either delay or reduce their capital gains taxes when they sell a stock or crypto unit if they take the money they earned and invest it in what are known as opportunity zones, which are neighborhoods that...

New York City mayor Eric Adams is a crypto bull. There’s no denying that. He seems to really take bitcoin to heart. He loves the technology behind it, and he’s so confident in its abilities, he has stated that he wants crypto taught in schools so children are ready and prepared for what will surely be a crypto-dominated financial system in the future. Eric Adams Doesn’t Seem to Understand Where Crypto Comes From All this sounds fine and dandy, but if there is anything...

Intel Corp on Friday announced the launch of an energy-efficient super-fast processing chip for blockchain applications. Billed to be 1000x faster than its nearest rivals, Intel’s “blockchain accelerator” will be available to its customers later this year. Intel’s foray into blockchain processing chip making The official release by Raja M. Koduri, Senior Vice President, General Manager, Accelerated Computing System, and Graphics Group, elaborates on the launch of Intel...

Despite the ongoing geopolitical uncertainty and economic turmoil throughout the world, Bitcoin’s network continues to get more robust. Following a recent spike, its hashrate reached yet another all-time high. It goes without saying that there’s a lot of economic turmoil and geopolitical uncertainty as international tension surrounding the relationship between Ukraine and Russia intensifies. Meanwhile, market participants are eagerly anticipating hinted rate hikes as...