Tags : Miners

Regulation

Over 1,000 Bitcoin miners crushed by police in warning to

Authorities in Miri, Malaysia, seized and destroyed 1,069 Bitcoin mining rigs by steamroller after cracking a mining operation that was using stolen electricity. Recently, U.K police followed up a rewiring tip-off, expecting to bust a cannabis farm, only to discover an illegal Bitcoin mining operation. Globally, cryptocurrency is generally permissible under the law, whereas cannabis […]Read More

Bitcoin

30 Bitcoin miners receive license in Iran amidst BTC hashrate

Thirty Bitcoin mining farms in Iran received operational licenses last week as the government softened its stance on the crypto market, local outlet Financial Tribune reported. Bitcoin mining, for the uninitiated, uses up a massive computing system that solves millions of complex calculations each second to validate transactions on the Bitcoin network (a process known […]Read More

Bitcoin

Bitcoin (BTC) miners in China plot plans to ‘go green’

Some of China’s storied Bitcoin miners are planning to use more renewable energy sources to power their expansive mining rigs, local outlet CGTN said today. Chinese officials said last month they would crackdown on mining farms for their high power usage and large environmental impact. One of the culprits was illegal coal extraction in some […]Read More

Bitcoin

Elon Musk says Tesla will resume Bitcoin acceptance if majority

Elon Musk, the CEO of electric carmaker Tesla, said today the company will reaccept Bitcoin payments for its cars provided the majority of miners use renewable sources to run their farms. “When there’s confirmation of reasonable (~50%) clean energy usage by miners with a positive future trend, Tesla will resume allowing Bitcoin transactions,” said Musk […]Read More

Bitcoin

Bitcoin miners using hydropower asked to continue in Sichuan

Bitcoin miners in China’s Sichuan province can continue their operations until September this year, local tech publication TechNode reported today. The move comes on the back of recent regulations involving stricter crackdown of the activity. Citing sources who attended a regulatory meeting regarding crypto mines in the region, the report said that mining operators were […]Read More

Bitcoin

Bitcoin miners made over $1.4 billion last month, despite plunge

Despite the market crash, Bitcoin (BTC) miners appear only marginally affected with reduced revenues in May, according to data from analytics tool Coin Metrics. May was daunting for Bitcoin, witnessing a correction of over 50% from it’s all-time high above $63.000 in April. The price correction consequently affected the mining revenue plunge, softened by the […]Read More

Bitcoin

Bitcoin miners are shutting down Chinese operations after Vice Premier’s

Chinese Bitcoin miners are scrambling to shift or shut operations after the latest round of ‘crypto FUD’ initiated by the government, a report on news outlet Reuters said today. Ending operations Crypto exchange Huobi suspended all mining operations this morning (alongside ceasing trading services for Chinese users), BTC.TOP, a crypto mining pool, announced the suspension […]Read More