energy | ForkLog

ForkLog 36 11.10.2024

BitRiver Converts Over 150 Million Cubic Meters of Associated Gas for Bitcoin Mining

In collaboration with oil and gas companies, BitRiver has converted over 150 million cubic meters of associated gas into electricity for bitcoin mining, according to its Chief Financial and Investment Officer, Alexander Volkov. This was reported by Prime. The firm processed this volume from January 2023 to early October 2024. BitRiver is confident in Russia’s […]

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ForkLog 22 25.09.2024

Mining Farm Generating $300,000 in Two Years Shut Down in Astana

Experts from Kazakhstan’s AFM are investigating an illegal cryptocurrency mining operation. The farm, comprising nearly 1300 ASIC miners, was operating under the guise of an engine processing centre in Astana. According to case materials, from 2022 to May 2024, the suspects engaged in mining digital assets without the necessary license. The total value of the […]

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ForkLog 65 24.09.2024

Underground Bitcoin Mining Operation Discovered in Dagestan

An underground cryptocurrency mining farm with 17 devices has been discovered in the Sergokalinsky district of Dagestan, according to the republic’s government press service. The ASIC miners and fans were located in a narrow shaft and were illegally connected to the power grid. The case materials have been handed over to law enforcement agencies. With […]

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ForkLog 13 10.09.2024

MTS Uncovers Hundreds of Illegal Mining Farms in Russia

Since the beginning of 2024, MTS specialists have identified over a hundred illegal mining farms within the customer service areas in Russia. This was reported by Pavel Fedosov, head of the corporation’s IoT center, according to TASS. The MTS platform is capable of detecting meters that transmit understated readings and specific network segments using big […]

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ForkLog 8 05.09.2024

Putin Warns Against Siberian Stagnation Due to Cryptocurrency Mining

The surplus of energy resources used for mining in Siberia should not hinder the region’s development. This was stated by Russian President Vladimir Putin during the EEF, reports RBC. He acknowledged that the country is one of the global leaders in cryptocurrency mining and that businesses in this sector are “earning quite well.” “Mining is […]

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ForkLog 81 15.08.2024

AI Energy Consumption Surpasses Bitcoin Mining

The energy consumption of AI likely already exceeds that of Bitcoin mining, according to a study by the Bitcoin Policy Institute (BPI). The report states that annual energy consumption at mining facilities is approximately 121.13 TWh. In 2023, AI consumed between 20 and 125 TWh. A more precise estimate is challenging, as data centers supporting […]

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ForkLog 8 12.08.2024

Ukrainian Official Accused of Illegal Cryptocurrency Mining

The head of a municipal enterprise in Chernihiv has been accused of stealing electricity for cryptocurrency mining and other illicit enrichment schemes. This was reported by the National Police of Ukraine. Law enforcement discovered a mining farm in a technical room behind the elevator on the premises of the municipal enterprise. According to the investigation, […]

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ForkLog 5 23.07.2024

Russian State Duma Reviews Cryptocurrency Mining Legislation

On July 23, the Russian State Duma will conduct the first reading of a bill aimed at regulating cryptocurrency mining. This was reported by Vedomosti. Lawmakers have intensified efforts to legalize the sector following demands from President Vladimir Putin. He criticized the uncontrolled energy consumption by miners, which, according to him, has already led to […]

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ForkLog 7 19.07.2024

Police Seize 500 Bitcoin Miners Near Irkutsk

Law enforcement in the Irkutsk region uncovered illegal cryptocurrency mining operations and confiscated the equipment. This was reported by the local department of the Investigative Committee of the Russian Federation. According to the investigation, residents of TSN “Molodezhnoye” and DNT “Uyutnoye” connected 500 ASIC miners to the power grids supplying the district’s population. The miners […]

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ForkLog 18 11.07.2024

Bitcoin Miners in Malaysia Accused of $724 Million Electricity Theft

Between 2018 and 2023, cryptocurrency miners in Malaysia allegedly stole electricity worth 3.4 billion ringgit (~$724.9 million), according to a report by Malay Mail, citing a representative from the Ministry of Energy. Deputy Minister for Energy Transition Akmal Nasir stated that such activities have been expanding recently, causing harm to the country as a whole. […]

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ForkLog 28 05.07.2024

Bernstein Warns of Potential US Power Shortage Due to AI

The United States may face an electricity shortage in two years if the current growth in demand from AI data centers continues. This is according to a report by Business Insider, citing Bernstein Research. Analysts noted that the imbalance between supply and demand in the electricity sector could lead to increased costs for computing power. […]

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ForkLog 8 27.05.2024

Dagestan Shuts Down 18 Illegal Mining Farms in Three Months

From January to March 2024, authorities in Dagestan halted 18 instances of electricity theft for cryptocurrency mining. This was reported by specialists from the local branch of Rosseti North Caucasus. The illegal miners consumed over 11 million kWh of energy during this period. In total, Dagenergo, in collaboration with law enforcement, identified 880 cases of […]

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