Tag Archives: Bitcoin Mining

After blaming BTC mining for electricity blackouts and sending spies to hunt down illegal miners, Iran has placed a temporary ban on such endeavors in its borders. According to a Bloomberg coverage, the Iranian government has placed a ban on all cryptocurrency mining endeavors until September 22nd. The ban is effective immediately and comes ahead of the country’s highest energy consumption season. This is Iran’s most strict attempt to reduce crypto mining, which soared in...

Elon Musk – the South African entrepreneur behind billion-dollar companies such as Tesla and SpaceX – has taken more jabs at the bitcoin mining process. Elon Musk Isn’t Done Asking Mining Questions People were shocked last week when Tesla announced it would not be accepting bitcoin payments for goods and services despite claiming it would do so back in March. Sadly, this sent bitcoin into a huge downward spiral, and at the time of writing, the world’s biggest and most...

Bitcoin’s price has fallen once again following news from China. The Asian country says its regulatory authorities will begin cracking down on all mining and trading activities. China Seeks to Limit Trading and Mining The country has always had a rather up and down relationship with the world’s number one digital currency by market cap. At one point, there was more bitcoin activity occurring within China’s borders than any other region. China is also home to both Bitmain...

Crypto exchanges FTX and BitMEX pledged to become carbon neutral. They will start the process with considerable donations to balance emissions. The Musk Effect Following the environmental debates which Elon Musk caused with his tweets earlier this week, two of the leading cryptocurrency exchanges announced they would become carbon neutral. The San Fransisco-based trading venue – FTX – revealed its commitment to implement the inovation. In a recent tweet, it reminded that...

The Iranian government enlisted intelligence officers with the task of cracking down on illegal cryptocurrency miners. This unprecedented move aims to solve the nation’s concerns with rising electricity consumption. The Government vs. Illegal Crypto Miners The Iranian authorities seem determined to solve their issues with illicit crypto mining. Bloomberg reported that the Ministry of Intelligence helped set up committees across the Asian country to detect and seize computer...

It goes without saying that Tesla took center stage last week when the company announced it would no longer support bitcoin payments for its electric vehicles. The message seems to have resonated, as Greenidge Generation Bitcoin Mining has vowed to be carbon neutral in 2021 and beyond. Carbon Neutral Bitcoin Mining After announcing plans to expand its Bitcoin mining operations last month, Greenidge is now looking to go entirely carbon neutral this year and in the future. The...

Despite the sudden price correction, bitcoin’s fundamentals continue to reach new highs. The asset’s hash rate has recovered its recent declines and marked a new ATH. Accordingly, the network’s mining difficulty saw its most significant increase in nearly seven years to a new record level as well. Hash Rate and Mining Difficulty to New Records Bitcoin’s hash rate is the measuring unit of the processing power on the asset’s blockchain. The general rule of thumb suggests that...

New York is concerned about bitcoin mining. So much, in fact, that a new Senate bill is looking to shut down all mining operations for approximately three years until the state can assess the damage done to the environment through mining. New York Has Taken a Stance Against BTC Mining While it is easy to point the finger at New York right now and accuse it being closed minded, the fact is that this is something that appears to be worrying the entire world, especially...

Is it possible to go from being a bitcoin lover to a bitcoin hater? For one German software developer, that is exactly what happened. Moritz Schmidt recently donated more than one million euros to Europe’s Green Party in the hope that they will become powerful enough to ban bitcoin and crypto mining in the future. Schmidt Suddenly Doesn’t Care for BTC Schmidt is a confusing figure in the sense that at one point, he made quite a bit of money earning and trading BTC. He...

Ripple co-creator Chris Larsen believes that unless bitcoin changes itself to be more environmentally friendly, all hope for the world’s largest and most popular digital currency is lost. Chris Larsen: BTC Needs to Change Modules Bitcoin has been taking a lot of guff in recent weeks given that its constant price increases have led to boosts in energy usage for crypto miners. The higher the price of bitcoin goes, the more expensive it becomes to mine and extract. Right...