Tag Archives: Bitcoin Mining

The value of bitcoin has jumped somewhat over the past few days given that Elon Musk – the South African entrepreneur behind billion-dollar companies such as Tesla and SpaceX – has changed his tune once again on bitcoin and cryptocurrency mining. Elon Musk Wants to See More Clean Energy Use Elon Musk has taken a lot of guff in recent weeks given that he rescinded a decision to accept bitcoin payments for Tesla-based goods and services before the company even began...

The Chinese government has reportedly intensified its crackdown on cryptocurrency mining and usage in the country by shutting down several crypto mining facilities in Sichuan. Sichuan Bitcoin Miners Join the List According to Wu Blockchain, the authorities of the Sichuan province officially issued a statement today, mandating every power supply company in the province to stop providing energy to crypto mining firms. The statement also reportedly clarified that the power...

The bitcoin miners who are ousted from China with the latest crackdown could find a place in Miami, Florida. The city’s mayor, Francis Suarez, said he’s working on lowering the costs for electricity in order to attract more miners to the region. BTC Miners Going to Miami? In a recent interview with CNBC, Francis Suarez spoke about the city’s BTC adoption, but this time he specifically focused on mining. He also touched on the topic of using clean energy. Miami’s mayor wants...

Elon Musk should study more bitcoin mining as the cryptocurrency is actually a lot greener than people believe, commented Kraken’s CEO, Jesse Powell. In a recent interview, the executive also admitted that the crypto market has cooled off after the latest bull market. Musk Should Study More BTC Mining Tesla’s CEO made the news last month after the EV-maker disabled bitcoin payments citing environmental concerns. Musk started to frequently bash the high energy consumption...

Huobi, one of China’s most popular Bitcoin exchanges, has reportedly slashed their maximum leverage allowance from 125x to less than 5x for existing users on the back of China’s regulatory crackdown on cryptocurrencies. New users signing up to the platform will not be able to use leverage at all. Exclusive: Due to concerns about regulatory policies, China’s largest exchange Huobi recently restricted the leverage of existing users to less than 5x after stopping new users in...

The topic of bitcoin mining is a controversial one as of late given the alleged carbon footprint it leaves behind, though one man feels he may have found a probable solution. 30-year-old Josh Riddett – the managing editor at Easy Crypto Hunter in Manchester, England – claims he has found a way to extract crypto from the blockchain utilizing cow manure. Josh Riddett Is Finding Greener Ways to Mine Crypto Bitcoin mining has been a hot topic recently, with many...

Chinese law enforcement agents have arrested approximately 1,100 individuals on charges of using crypto to launder money. The move is clearly a reminder that China is avidly working towards a society where crypto holds a limited or non-existent presence. China Is Working Against a Crypto Society In the process of arresting everyone, China has also stated that it has eliminated more than 170 criminal gangs known for committing financial crimes. The individuals in question...

After the latest crackdown from China on Bitcoin mining and the declining hash rate, the mining difficulty has gone through another adjustment. As a result, the metric has dropped by 20% in less than a month to a 5-month low. China Goes Against Bitcoin Mining The world’s largest country by population has been reiterating its negative stance against the cryptocurrency industry for almost a decade. It did it once again in May, but this time it went a step further. As previously...

Kevin O’Leary – aka Mr. Wonderful on the television show “Shark Tank” believes that bitcoin could eventually overpower the stock market. Kevin O’Leary: Sustainability Will Make a Big Difference His sentiment comes from the sudden shift that many bitcoin miners are making. Initially, bitcoin was the subject of much concern and disgust amongst environmentalists, who claimed that the extraction process behind bitcoin was contributing to severe atmospheric destruction....

When it comes to Bitcoin, the president of El Salvador does not know what it means to go slow. Over the weekend, he announced that he was working on a proposal to accept Bitcoin as legal tender. 3 days later, he introduced the bill to the Assembly, and hours later that same day, the bill was passed and became law. Well, now, just hours after this historic event, the president of El Salvador announced a new move to promote Bitcoin mining —100% clean, so Elon Musk can calm...