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Daily Raids on Crypto Farms as Abkhazia Intensifies Mining Crackdown

[Feb 12, 2023 1:00 AM] Authorities in Abkhazia are stepping up efforts to clamp down on cryptocurrency mining amid electricity shortages in the winter months. The government of the breakaway Georgian region announced it’s also taking measures to prevent imports of mining…

Ban on Crypto Mining in Residential Areas Proposed in Russia

[Jan 28, 2023 3:30 AM] Advisors to the Kremlin have suggested that home crypto mining should be banned in Russia, or in some of its regions. The stated motive for the proposal is to prevent fires in residential buildings. Amateur miners have been blamed for high loads on…

Amid High Energy Demand From Miners, Russia Mulls Building New Power Plants in Siberia

[Jan 1, 2022 4:00 AM] Growing electricity consumption in the crypto mining sector may require the construction of new power generation facilities in Siberia, the energy minister of Russia has acknowledged. Demand continues to increase in residential areas as well, after…

Challenging Year for Bitcoin Miners as Fewer BTC Mining Rigs Are Profitable at Current Prices

[Dec 31, 2022 1:00 PM] Bitcoin miners have had a challenging year as the network’s mining difficulty reached an all-time high and the spot market price of bitcoin dropped below the cost of production. Currently, with electricity costs at $0.07 per kilowatt-hour…

Russia Cracking Down on Crypto Miners Minting in Residential Areas

[Dec 14, 2022 6:30 AM] Russian authorities are now prosecuting miners extracting cryptocurrency using subsidized electricity for the population, according to a top official from the energy ministry. Power utilities are detecting their increased consumption and trying to…

Québec Utility Requests Reallocation Of Electricity Away From Bitcoin Miners

[Dec 8, 2022 3:17 PM] Last month, the provincial energy regulator was asked to reallocate 270 megawatts that was set aside for cryptocurrency mining.The Québec government’s utility company, Hydro-Québec, has requested the reallocation of 270 megawatts…

Russia Expects Sizable Increase in Crypto Miners’ Share of Power Usage

[Dec 7, 2022 11:00 PM] The crypto mining industry may see a two-fold increase in its share of Russia’s power consumption in 2022, according to a high-ranking official from the Ministry of Energy. The department supports a bill designed to regulate the sector which is…

Kazakhstan Presses On With Restrictive Bitcoin Mining Regulation

[Dec 7, 2022 12:53 PM] A bill that would create new licensing and electricity purchase requirements has been sent on to a third vote.Kazakhstan is moving forward with regulation that will further stifle its bitcoin mining industry.The country’s federal…

Manitoba Halts New Crypto Mining Projects Due to Expected High Energy Demand

[Dec 1, 2022 12:30 AM] Authorities in Manitoba are temporarily suspending the connection of new crypto mining facilities to the power grid. The Canadian province, which relies heavily on hydroelectric generation and attracts miners with low electricity rates, fears it…

Data Shows There’s No Profits Left for Bitcoin Miners That Can’t Obtain Cheap Electricity, Run Efficient Mining Rigs

[Nov 30, 2022 2:30 PM] During the last few weeks bitcoin’s cost of production has been higher than the leading crypto asset’s spot market value and in turn, this has put massive pressure on bitcoin miners. On Nov. 30, 2022, statistics show if miners paying for…

New York Governor Signs Law Partially Banning Bitcoin Mining on Fossil Fuels

[Nov 23, 2022 8:00 AM] A moratorium on some crypto mining operations relying on carbon-based energy has been signed into law in New York. Businesses engaged in proof-of-work mining in the state will not be able to expand or renew their permits for the next two years as a…