Cryptocurrency Mining | ForkLog

ForkLog 25 27.11.2024

Ukrainian Security Service Colonel Sentenced to 10 Years for Extorting Illegal Miners

On November 27, Ukraine’s High Anti-Corruption Court found an operative of the DCIB SBU guilty of extortion and receiving $60,000 in cryptocurrency for the return of equipment to illegal miners. According to case materials, in July 2022, the SBU officer demanded a bribe of $60,000 from an entrepreneur in exchange for assistance in returning ASIC […]

AI translated

ForkLog 31 26.11.2024

Russia Formalises Bitcoin Taxation

On November 26, the State Duma passed a law on the taxation of digital currency in both the second and third readings, as reported by TASS. Cryptocurrency is now recognised as property. The tax base is determined by the excess of the asset’s value over the costs of its purchase or mining. Individuals selling cryptocurrency […]

AI translated

ForkLog 51 26.11.2024

US Customs Detain Antminer Shipments at Ports

Hundreds of Bitmain’s Antminer S21 and T21 ASIC miners have been stored in American ports for over a month, awaiting approval from the CBP. This was reported by Blockspace, citing unnamed industry sources. SCOOP from @theMiningPod Officials are halting Bitmain units at U.S. ports, industry firms report The Customs and Border Protection Agency (CBP) is […]

AI translated

ForkLog 16 22.11.2024

Belarus Boosts Mining with Nuclear Power Plant Launch

The launch of Belarus’s first nuclear power plant has enabled the development of incentivised electricity tariffs, fostering the growth of cryptocurrency mining. This was stated by the Deputy Minister of Energy of Belarus, Denis Moroz, as reported by Rossiyskaya Gazeta. He explained that companies engaged in cryptocurrency mining and large data centres receive discounts based […]

AI translated

ForkLog 24 20.11.2024

Challenges of Cryptocurrency Mining Bans in Russian Regions

The prohibition of legal cryptocurrency mining in Russian regions is likely to increase the risk of some miners turning to illegal activities, according to experts cited by TASS. Sergey Sasim, Director of the Centre for Research in Electric Power at the National Research University Higher School of Economics, described the government’s proposed restrictions as a […]

AI translated

ForkLog 10 19.11.2024

JPMorgan Reports 29% Increase in Bitcoin Mining Profitability

In the first half of November, the profitability of bitcoin mining—hashprice—rose by 29%. This was reported by CoinDesk, citing a JPMorgan report. Analysts Reginald Smith and Charles Pierce noted that two main factors contributed to the significant improvement in mining economics: the rally in the leading cryptocurrency’s prices, which outpaced the increase in hash rate; […]

AI translated

ForkLog 8 19.11.2024

Bitcoin Mining Difficulty Surpasses 102 T for the First Time

Following the latest recalibration, the difficulty of mining the leading cryptocurrency increased by 0.63%, reaching a record high of 102.29 T. Data: CloverPool. The average hash rate during the two-week calculation period rose to 755.3 EH/s. According to Glassnode, on November 18, the smoothed 7-day moving average of the network’s computational power stood at 738.4 EH/s, […]

AI translated

ForkLog 105 18.11.2024

Regions in Russia with the Most Affordable Cryptocurrency Mining

The Irkutsk region, Khakassia, and Dagestan offer the lowest electricity tariffs in Russia, making them the most cost-effective areas for cryptocurrency mining. These calculations were provided by the rating agency ACRA. Analysts referred to the government-set energy consumption limit for individual miners at 6000 kWh, which does not require registration with the FTS. In the […]

AI translated

ForkLog 76 15.11.2024

“Our task is to help people extract more from this bull run.” An interview with GoMining CEO Mark Zalan

In mid-September the developers of the GoMining app launched Miner Wars, a mode that gamifies Bitcoin mining. Since then, about 25,000 users have joined, making in-game purchases of more than $500,000 using the GOMINING utility token. We spoke with GoMining CEO Mark Zalan about democratising mining through NFTs and the growing interest in Bitcoin-based DeFi. […]

AI translated

ForkLog 20 13.11.2024

Mine, baby, mine: how miners turned into speculators—and the risks for the market

While investors focus on US exchange-traded funds, bitcoin miners are adapting to the new regime after the April 2024 halving. It cut daily issuance from 900 to 450 BTC. Yet, contrary to common belief, aggregate revenues for the diggers of digital gold have barely changed. Oleg Cash Coin examines what large miners are doing to […]

AI translated

ForkLog 15 07.11.2024

Samara Authorities Seize 371 Bitcoin Miners from Local Enterprise

Police in Samara have shut down an illegal cryptocurrency mining operation located on the premises of a local enterprise, according to a report by the regional Ministry of Internal Affairs on their official page. Investigators revealed that the enterprise’s director, along with unidentified accomplices, purchased cryptocurrency mining equipment and installed it in rented premises on […]

AI translated

ForkLog 15 05.11.2024

Analyst Highlights Growth in On-Chain Metrics for Bitcoin and Ethereum

A researcher from The Block, known by the pseudonym Lars, has shared a series of posts on X illustrating the growth of network metrics for stablecoins, the two most capitalized cryptocurrencies, NFTs, and other key market segments.

AI translated

#Cryptocurrency Mining