Cryptocurrency Mining | ForkLog

ForkLog 53 08.08.2024

Putin Approves Legalisation of Cryptocurrency Mining and Trading Under Experimental Legal Regimes

On August 8, Russian President Vladimir Putin signed a law permitting the legalisation of cryptocurrency mining in the country, as reported by TASS. The document will come into effect on August 18, with the provision for a miners’ registry starting on November 1. For more details on its contents, read the special ForkLog material. Additionally, […]

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ForkLog 20 08.08.2024

Kazakhstan Cracks Down on Illegal Cryptocurrency Operations Worth $75.4 Million

Special units of Kazakhstan’s AFM identified 18 crimes related to illegal cryptocurrency operations and mining, with a total turnover exceeding 36 billion tenge ($75.4 million). In 2024, six convictions were handed down for illegal trading of digital assets. During the pre-trial investigation of these cases, assets worth a total of 1.2 billion tenge ($2.51 million) […]

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ForkLog 24 02.08.2024

Bitfarms Faces Challenges with Bitmain Bitcoin Miners

In July, the mining firm Bitfarms failed to achieve its target hash rate of 12 EH/s due to performance issues with approximately 3,000 new Antminer T21 units from Bitmain. #Bitfarms Provides July 2024 Production and Operations Update — Earned 253 BTC in July 2024— 24.6 BTC/average EH/s— Added 111 BTC, bringing Treasury to 1,016 BTC— […]

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ForkLog 21 02.08.2024

CleanSpark Acquires 75 MW Bitcoin Farm Under US Scrutiny

CleanSpark has announced the completion of its acquisition of an operational Bitcoin mining facility in Wyoming, USA, with an available capacity of 75 MW. We’ve executed 75 MW of power contracts and completed the acquisition of our first #Bitcoin mining site in Wyoming! With a power capacity of 30 MW, it’s expected to add over […]

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ForkLog 11 01.08.2024

Russian Federation Council Committee Endorses Cryptocurrency Mining and Regulatory Sandbox Laws

The Federation Council Committee on Budget and Financial Markets has recommended that the upper house of parliament approve laws regulating cryptocurrency mining and permitting experimental legal regimes (ELR) in the financial market, according to TASS. The mining law proposes the creation of a registry for legal entities and individual entrepreneurs engaged in the sector. The […]

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ForkLog 7 01.08.2024

Bitcoin’s Resilience Forecast Amid Rising Hashrate

The surge in Bitcoin’s hashrate to record levels is expected to contribute to the stability of its price, according to CryptoQuant. “The metric’s drop from its historical maximum is only 3% compared to 8% as of July 9, and the recovery of the hashrate is usually associated with a sustained rally,” explained the specialists. Data: […]

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ForkLog 6 31.07.2024

Bitcoin Mining Difficulty Surges by 10.5%

The latest recalibration has seen the difficulty of mining the premier cryptocurrency rise by 10.5%, reaching 90.67 T. Data: BTC.com. The average hashrate since the previous adjustment was 933.84 EH/s, with the interval between blocks being less than seven minutes. According to Glassnode, the smoothed 7-day moving average of computational power reached peak levels of […]

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ForkLog 11 30.07.2024

Bernstein Projects $20 Billion Bitcoin Mining Equipment Market in the US

Sales of equipment for mining the premier cryptocurrency in the US could reach $20 billion over the next five years, according to estimates by Bernstein. Bernstein says mining hardware is a $20 billion opportunity amid Trump’s push to ‘make bitcoin’ in the US https://t.co/vx9CfR2VID — The Block (@TheBlock__) July 30, 2024 The impetus for these […]

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ForkLog 10 30.07.2024

Russia Legalises Cryptocurrency Mining: Implications for the Industry

On July 30, the Russian State Duma passed a bill regulating cryptocurrency mining in the country during its second and third readings. The legislation will take effect on September 1. ForkLog discussed the new regulations and their impact on miners with industry experts. What Does the Bill Include? The bill defines terms such as “mining,” […]

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ForkLog 11 29.07.2024

Bitcoin Miners Shift Towards Accumulation, Analyst Observes

Companies mining the leading cryptocurrency appear to have embarked on a new phase of coin accumulation, aiming to benefit from potential asset growth. This was stated by BRN analyst Valentin Fournier in a conversation with The Block. According to the expert, besides accumulating mining rewards, major players seem to be purchasing bitcoin directly from the […]

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ForkLog 10 26.07.2024

Elizabeth Warren Criticizes Foreign Miners in the US

Foreign-owned mining enterprises in the United States pose a potential danger and threaten national security, according to Senator Elizabeth Warren. She expressed this view. During Senate Banking Committee hearings, she described mining enterprises as an environmental “disaster.” “They are noisy, hot, and consume a lot of electricity, which can disrupt our energy system,” stated the […]

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ForkLog 12 25.07.2024

Bitfarms Adopts New Poison Pill Defence Against Riot

Bitcoin miner Bitfarms has approved a new shareholder rights protection strategy to prevent a hostile takeover by competitor Riot Platforms. On June 24, the Ontario Capital Markets Tribunal ruled in favour of Riot, ordering Bitfarms to immediately cease its previous plan. The initiative adopted in June, known as a “poison pill“, proposed that if an […]

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