Cryptocurrency Mining | ForkLog

ForkLog 17 29.01.2024

Russia Evaluates Potential Tax Revenue from Bitcoin Mining

The tax potential of mining in Russia, with the introduction of balanced regulation, is estimated at 50 billion rubles annually after 2025. This was reported by TASS, citing a statement from Sergey Bezdolov, Director of the Industrial Mining Association. According to his data, Russian miners consume about 2.5 GW of electrical power. Of this, 1.7 […]

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ForkLog 17 26.01.2024

Canaan Secures $50 Million in Equity Capital

The mining equipment manufacturer Canaan secured $50 million through the issuance and sale of convertible preferred shares. According to a report to the SEC, the firm reached an agreement with an unnamed institutional investor in November 2023. The funding was received in two equal tranches in December and January. “The company intends to use the […]

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ForkLog 19 26.01.2024

Cryptocurrency Mining Farm with 620 Devices Discovered in Makhachkala Parking Garage

Police in Makhachkala, in collaboration with specialists from the Dagenergo branch, uncovered a cryptocurrency mining farm with 620 devices in the garage of an underground parking facility while investigating residents’ complaints about power surges in a multi-storey building. The equipment belonged to a 35-year-old local resident. An inspection revealed that he had connected the equipment […]

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ForkLog 16 26.01.2024

OKX to Close Its Mining Pool

From January 26, cryptocurrency exchange OKX will cease registering new users for its mining pool. Simultaneously, the trading platform will shut down all affiliated services. Existing pool participants will be able to use it until February 25. According to OKX, the decision was made due to “business adjustments.” The exchange’s pool supported the mining of […]

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ForkLog 8 26.01.2024

Swan Bitcoin Unveils Mining of 750 BTC

Swan Bitcoin, a financial services firm focused on Bitcoin, has announced that its mining venture, launched discreetly in the summer of 2023, has mined 750 BTC. ?‼️⚒️ SWAN MINING IS HERE ?‼️⚒️ We’ve been working hard on a big opportunity that came our way last year, and today, we’re excited to bring our mining operation […]

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ForkLog 9 24.01.2024

Russian Economists Propose Disconnecting Miners During Energy Shortages

The Higher School of Economics (HSE) has proposed forcibly disconnecting large-scale miners from electricity to address energy shortages in certain Russian regions, according to Izvestia. The initiative suggests categorizing cryptocurrency mining data centers as a separate group of consumers, which could be restricted from electricity supply for up to 500 hours annually (approximately 21 days). […]

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ForkLog 28 22.01.2024

Uzbekistan Enacts Penalties for Illegal Cryptocurrency Activities

On January 19, Uzbekistan’s President Shavkat Mirziyoyev signed a law introducing criminal and administrative penalties for illegal activities related to cryptocurrency mining and use. The Code of Administrative Responsibility has been amended with two new articles. One article addresses the illegal acquisition, sale, or exchange of cryptocurrencies, as well as the activities of service providers […]

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ForkLog 7 21.01.2024

Bitcoin Mining Difficulty Decreases by Nearly 4%

The latest recalibration has resulted in a 3.9% decrease in the mining difficulty of the leading cryptocurrency, bringing the figure down to 70.3 T. Source: BTC.com. The average hash rate since the previous adjustment was 484.17 EH/s, with the interval between blocks being nearly 10.5 minutes. According to Glassnode, on January 20, the smoothed 7-day […]

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ForkLog 10 18.01.2024

Bitcoin Hashrate Plummets by 33% Amid Miner Shutdowns in Texas

The total computational power of the Bitcoin network fell by 33% over several days due to cold weather in Texas, which led to local miners being disconnected from the power grid. Source: BitinfoCharts. According to BitinfoCharts, the figure dropped from 606 EH/s (as of January 13) to 401 EH/s. Data from Glassnode shows similar declines: […]

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ForkLog 22 17.01.2024

Bankruptcy Court Approves Core Scientific’s Reorganization Plan

The bankruptcy court has approved the reorganization plan of the mining company Core Scientific, with a relisting of shares on the Nasdaq by the end of January. In December, the firm indicated mid-to-late January 2024 as the timeline for implementing the initiative. As a result, the company’s shareholders will receive approximately 60% of the new […]

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ForkLog 15 16.01.2024

Illegal Mining Farm Overloads Power Grid in Makhachkala

Energy officials in Dagestan, in collaboration with law enforcement, have uncovered an illegal mining farm in the Kirovsky district of Makhachkala, according to a report by the branch of “Rosseti North Caucasus” — “Dagenergo.” Experts observed a significant overload on the power line extending from the “Polygon ‘Solntse'” substation, which is equipped with two transformers, […]

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ForkLog 8 15.01.2024

Greenpeace Criticizes Approval of Bitcoin ETF in the US

The international environmental organization Greenpeace has criticized the decision by the US Securities and Exchange Commission (SEC) regarding spot Bitcoin ETFs. Our statement on the @SECGov‘s #Bitcoin ETF approvals. This is a win for Wall Street executives but a loss for the climate and society. It is incumbent on @BlackRock & @Fidelity to play an […]

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