Cryptocurrency Mining | ForkLog

ForkLog 19 26.03.2024

Core Scientific CEO Outlines Post-Halving Strategy

Core Scientific plans to allocate funds for purchasing bitcoin miners from struggling industry players following the halving, as revealed by the company’s CEO, Adam Sullivan, to Blockworks. The company emerged from bankruptcy proceedings in January. Through a reorganization lasting over a year, Core Scientific reduced its debt burden to $571 million by converting equipment loans […]

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ForkLog 24 26.03.2024

Notcoin to Cease Coin ‘Mining’ in April

The team behind the gaming Web3 project Notcoin will halt coin mining from April 1st. In their Telegram channel, they stated that a vast community has formed around the clicker since its launch. “Some of you have found new friends, talented creators, secret chats, perhaps even created your own OTC for vouchers or some theories […]

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ForkLog 41 25.03.2024

Bitcoin Halving May Drive US Miners to Africa

Outdated bitcoin mining equipment in the United States is set to be sold to overseas buyers seeking to profit from mining in regions with cheaper electricity. Industry experts revealed this in an interview with Bloomberg. Taras Kulik, CEO of mining equipment retailer SunnySide Digital, stated that this trend is driven by the upcoming halving. He […]

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ForkLog 22 22.03.2024

Greenpeace Report on Bitcoin Mining Faces Industry Backlash

The report Mining for Power by the American branch of Greenpeace, which criticizes Bitcoin mining and its ties with the government, has been met with sharp criticism from industry experts. According to the study, the Bitcoin mining industry closely collaborates with companies involved in fossil fuel extraction and environmental pollution. Such organizations are said to […]

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ForkLog 24 22.03.2024

Bitcoin Halving: A Test of Miners’ Efficiency

Leaders of mining companies suggest that the Bitcoin halving may harm smaller and less efficient operations, but will not pose a problem for major players, according to Cointelegraph. The halving of block rewards is expected to significantly impact the revenues and profitability of cryptocurrency miners. Industry management believes that in this scenario, efficiency and scale […]

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ForkLog 22 21.03.2024

Uzbekistan Establishes Regulations for Mining Pools

The NAPP of Uzbekistan has approved regulations governing the operation of mining pools. The document defines key terms and sets requirements for establishing relationships with national and foreign miners, revenue distribution, and maintaining a participant registry. An electronic platform must be created for the pool’s operation, with separate accounting for each miner’s transactions. Within the […]

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ForkLog 12 20.03.2024

Bitcoin Miners Seized by Police Stolen in Moscow Region

The Investigative Committee of the Moscow Region has initiated a criminal case against unidentified officers of the Ministry of Internal Affairs, from whom seized cryptocurrency miners were stolen. This was reported by Kommersant. According to the case materials, 68 ASIC miners and other equipment were confiscated by police in April 2022 during a raid in […]

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ForkLog 12 19.03.2024

Irkutsk Region to Prosecute Owner of 214-Device Mining Farm

The Cheremkhovo city prosecutor’s office approved an indictment against a 35-year-old local resident involved in cryptocurrency mining. According to the investigation, from January to February 2023, the man installed 214 ASIC miners in a rented non-residential space and illegally connected them to a nearby transformer substation. Source: Irkutsk Region Prosecutor’s Office. The operation of the […]

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ForkLog 29 15.03.2024

Marathon Digital to Acquire 200 MW Bitcoin Farm for $87 Million

Mining firm Marathon Digital Holdings has finalized an agreement to purchase a 200 MW data center in Garden City, Texas, from Applied Digital Corporation. The transaction is expected to close in the second quarter of 2024. Read the full press release: https://t.co/oDG4wgHy32 — Marathon Digital Holdings (NASDAQ: MARA) (@MarathonDH) March 15, 2024 The deal is […]

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ForkLog 17 14.03.2024

Bitcoin Mining Difficulty Reaches New Peak

Following the latest adjustment, the difficulty of mining the leading cryptocurrency increased by 5.79%, setting a new all-time high at 83.95 T. Data: BTC.com. The average hash rate since the previous adjustment was 600.72 EH/s, with the interval between blocks at 9 minutes 27 seconds. On March 11, the smoothed seven-day moving average reached 629.44 […]

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ForkLog 8 13.03.2024

Three Illegal Cryptocurrency Miners Apprehended in Uzbekistan

During official raids in the Tashkent region, three Uzbek citizens were detained on suspicion of stealing electricity for cryptocurrency mining. This was reported by the local State Security Service. One of the offenders, a 31-year-old resident of Yangiyul, illegally connected ten Antminer L3++ ASIC miners to the power grid. The damage to the energy company […]

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ForkLog 10 13.03.2024

US Proposes 30% Excise Tax on Bitcoin Mining Electricity

The administration of US President Joe Biden has proposed a 30% excise tax on electricity used for cryptocurrency mining, such as Bitcoin. Biden administration is proposing a 30% tax on electricity used by #bitcoin miners, even if you are off-grid using your own solar and wind generation. All of the reasons they provide are pretextual, […]

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