Bitcoin Mining

Bitcoin Energy Consumption Is Far More Efficient and Greener Than Today’s Banking System

<div class=”featured_image_container”> </div> <strong>While bitcoin and a variety of digital currencies have swelled in value, a number of critics have spread fear, uncertainty, and doubt (FUD) in regard to the energy consumption proof-of-work (PoW) cryptocurrencies leverage to produce new units of currency. Just recently the software engineer Stephen Diehl expressed his dissatisfaction over the environmental …

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A Russian Operation Is Mining Bitcoin in the Arctic Circle for Cheap Electricity

<div class=”featured_image_container”> </div> <strong>A Russian company is leveraging the Siberian city of Norilsk located above the Arctic Circle in order to mine bitcoins. Bitcluster, the owner of the crypto mining operation, plans to expand the firm’s activities after launching the facility in late 2020. According to the company’s website, the datacenter is getting electricity rates …

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Galaxy enters Bitcoin mining, launches financial services unit for miners

Galaxy Digital — the financial services and cryptocurrency investment management firm founded by Mike Novogratz — has set its sights on establishing a footing in the Bitcoin (BTC) mining sector. After a year of increasingly diversifying its products and activities, the company has announced two new forays into the Bitcoin mining sector for 2021. The …

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Rapid Profits: Bitcoin Hashrate Accelerates While Mining Difficulty Touches All-Time High

<div class=”featured_image_container”> </div> <strong>The Bitcoin network’s hashrate has been operating at very high processing speeds during the last few weeks, as the overall hashrate touched a whopping 171.2 exahash per second (EH/s) on Monday. Moreover, the network’s mining difficulty has also touched an all-time high (ATH) at 20.61 trillion, the highest difficulty the network has …

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Crypto mining allegedly worsening air pollution in Iran

The push by many in Iran to establish the country as a mecca for crypto miners may be having some unintended environmental consequences.  According to a Bloomberg report, the energy requirements of Bitcoin (BTC) and crypto mining in Iran coupled with the demand for heat in an exceptionally cold winter have contributed to a natural …

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Publicly-Listed Lottery Company to Buy $14.4M Worth of Bitcoin Mining Machines

<div class=”featured_image_container”> </div> <strong>A U.S. listed Chinese sports lottery firm announced that it has entered into a purchase agreement to acquire bitcoin (<a class=”lar-automated-link” href=”https://markets.bitcoin.com/crypto/BTC” target=”_blank” rel=”noopener”>BTC</a>) mining machines. The deal involves the issuing of $14.4 million worth of 500.com Class A ordinary shares.</strong> Models Include S17, T17, M20s and S9 According to the announcement, …

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Central Washington Raises Concerns Over Possible Bitcoin Mining Boom

<div class=”featured_image_container”> </div> <strong>A region in the Pacific Northwest of the United States is on high alert because of concerns about a possible invasion of bitcoin (<a class=”lar-automated-link” href=”https://markets.bitcoin.com/crypto/BTC” target=”_blank” rel=”noopener noreferrer”>BTC</a>) miners. The state has previously experienced an influx of Chinese bitcoin miners, due to decreasing electricity prices.</strong> Bitcoin Bull-Run Could Revive Interest in …

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Russian Oil Giant Provides Excess Gas to Operations Powering Bitcoin Mining Devices

<div class=”featured_image_container”> </div> <strong>The firm Gazpromneft, an oil subsidiary of the Russian natural gas and global energy company Gazprom, is giving bitcoin mining operations the chance to power operations by using excess gas for electricity. The Russian firm has allowed a small mining operation to benefit from the excess gas by mining bitcoin on-site at …

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Bitcoin Miners Saw 33% Revenue Increase in December

Bitcoin miners generated an estimated $692 million in revenue in December, up 33% from November, according to on-chain data from Coin Metrics analyzed by CoinDesk. Extending November’s own 48% increase, miner revenues continued to soar as bitcoin rallied over 300% last year, briefly trading above $29,000 for the first time ever on New Year’s Eve.  …

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