Cryptocurrency Mining | ForkLog

ForkLog 25 22.04.2024

Bitcoin Miners Eye AI and Diversification Post-Halving

Mining companies may increasingly diversify into AI to offset reduced revenues following the halving, according to CoinShares experts. On April 20, at block height #840,000, the Bitcoin network’s block reward was halved from 6.25 BTC to 3.125 BTC. This programmed event occurs roughly every four years after 210,000 blocks, negatively impacting miners’ revenue. It is […]

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ForkLog 12 18.04.2024

Swedish Miners Face $90 Million Tax Claims

The Swedish tax authority, Skatteverket, has identified a tax shortfall from mining companies amounting to nearly 1 billion kronor (over $90 million). An investigation conducted from 2020 to 2023 revealed violations in 18 out of 21 examined companies in the sector. “The companies we examined used a specific approach to conceal their involvement in mining, […]

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ForkLog 15 18.04.2024

Foundry Pool to Share Profits from Potential ‘Epic’ Satoshi Mining

The team at Foundry USA mining pool plans to distribute profits from the commercialization of an ‘epic’ satoshi (epic sat) among participants, should they mine the first Bitcoin block post-halving. A screenshot of the announcement was shared by The Mining Pod podcast host Will Foxley. A similar message was posted by Ethereum Ninjalerts CEO Trevor […]

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ForkLog 10 18.04.2024

Coinify Foresees Bitcoin Sales Post-Halving

The price dynamics of Bitcoin following the halving will adhere to the principle of “buy the rumour, sell the news.” This was stated by Coinify CEO Rikke Staer in an interview with The Block. The executive explained her expectations by citing the increased presence of institutional investors and the growing experience of retail investors. According […]

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ForkLog 11 17.04.2024

Halving to Trigger Demand Shock and Strengthen Mining Sector

The forthcoming reduction in Bitcoin block rewards is expected to foster a more eco-friendly mining network powered by sustainable energy sources. The limited supply is likely to impact the asset’s price. Clean Mining Fineqia International analyst Matteo Greco told Cointelegraph that the halving will encourage Bitcoin mining companies to optimize capital efficiency through cheaper electricity, […]

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ForkLog 4 16.04.2024

Founders of ‘Greenstar Mining’ Sentenced to Prison in Irkutsk

On April 11, the Oktyabrsky District Court of Irkutsk delivered a guilty verdict to five residents of the Chelyabinsk region involved in the fictitious sale of cryptocurrency mining equipment through the company ‘Greenstar Mining’. According to the case materials, since 2021, the defendants advertised their services online, offering to supply miners with a 50% prepayment. […]

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ForkLog 13 15.04.2024

Norwegian Authorities Move to Restrict Bitcoin Mining

The Norwegian government aims to put an end to cryptocurrency mining in the country, deeming it an undesirable activity, reports VG. “That is why we are proposing legislation that will regulate the data center industry for the first time,” stated Kariann Tung, head of the Ministry of Digitalization. Registration will require disclosure of the enterprise’s […]

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ForkLog 12 15.04.2024

Bitfarms Boosts Bitcoin Hashrate to 7 EH/s

The mining firm Bitfarms has increased its hashrate in the Bitcoin network to 7 EH/s following the deployment of 5,000 modern installations at two sites in Canada. #Bitfarms Reaches 7 EH/s with Completion of Fleet Upgrade at Garlock and Farnham Facilities — Corporate energy efficiency improves 9% to 31 w/TH Upgrade Highlights: At Garlock installed […]

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ForkLog 8 15.04.2024

Miners Pursue First ‘Epic’ Satoshi Post-Halving

Bitcoin mining companies are vying to mine the first block post-halving to obtain an ‘epic’ satoshi, potentially valued at several million dollars, according to CoinDesk. What is the value? Approximately two years ago, Casey Rodarmor, creator of the Ordinals protocol on the blockchain of the first cryptocurrency, developed a system for classifying the rarity of […]

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ForkLog 12 15.04.2024

Dormant Miner Moves $3.3 Million in Bitcoin After Nearly 14 Years

A miner has moved 50 BTC (~$3.3 million) for the first time, which were earned as a reward for mining a block on April 23, 2010. This activity was highlighted by Lookonchain. A miner wallet woke up after being dormant for nearly 14 years and deposited 50 $BTC($3.28M) to #Coinbase 5 mins ago. The miner […]

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ForkLog 12 15.04.2024

Bitcoin Miners May Unleash $5 Billion Sell-Off, Expert Warns

Following the halving, miners could potentially liquidate bitcoin reserves worth $5 billion, exerting pressure on the price. This warning comes from Marcus Thielen, Head of Research at 10x Research. #Bitcoin Might Trade Sideways for 6 months As Miners Could Sell $5bn of BTC -> Here is why: https://t.co/gLRgs8yyGg pic.twitter.com/zBLdV95MAl — 10x Research (@10x_Research) April 13, […]

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ForkLog 5 12.04.2024

Russia to Establish Bitcoin Miners Registry

A key aspect of the legislative regulation of mining will be the introduction of a cryptocurrency miners registry. This was announced by Anton Gorelkin, Deputy Chairman of the State Duma Committee on Information Policy, Information Technology, and Communications, on his Telegram channel. The registry will be maintained by an authorized government body, with the Ministry […]

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