White House Heightens Scrutiny on Crypto Miner’s Energy Consumption
Regulatory scrutiny increases as crypto mining activities are rising and consuming huge amounts of energy.
Montana Passes Crypto Miner Rights Bill
Montana’s House of Representatives passed Bill number 178, which seeks to enshrine the rights of crypto miners and prohibit local authorities from obstructing crypto mining operations. The bill now awaits Governor Greg Gianforte’s signature to become law. The legislation establishes a “digital asset mining right,” forbids discriminatory electricity rates charged to crypto miners, and removes the authority of local governments to use zoning laws to impede crypto mining activities.
New York-Based Power Plant Greenidge Generation Mines $50,000 Worth of Bitcoin on a Daily Basis
Greenidge’s 65,000-square-foot facility was initially built in 1937 as a coal plant before eventually being closed down in 2011. The plant remained dormant for five years before Atlas Holdings, Connecticut-based private equity company, converted it into a natural gas plant in 2016 to generate clean energy. Because of the high power that crypto mining machines use in their operations, countries have initiated stricter measures to discourage miners from conducting their mining activities. Some of these measures involve increased electricity fees, which have compelled most miners to move to other cities with favorable electricity billing.
Core Scientific Offloads 7,202 BTC Worth $167m in June
American Nasdaq-listed cryptocurrency mining firm Core Scientific sold as much as 7,202 Bitcoin units in June, worth approximately $167 million at an average price of $23,000.
Bit Origin Limited Signs LOI to Acquire 30.62% Equity Interests in Horizon Mining Ltd
The planned acquisition would be another major step forward for Bit Origin Limited to accelerate its efforts into the crypto mining business.
Nvidia Agrees to Pay $5.5 Million to SEC Fine for Failure to Crypto Mining Disclosures
The SEC said it found that Nvidia misled investors in 2017 and 2018 on how cryptocurrency contributed to the profits in its gaming business.
Why Cryptocurrency Massive Energy Consumption Is Extravagant?
Overblown bitcoin energy consumption is leaving an adverse impact on environmental sustainability and different opinions exist of bitcoin miner experts regarding this major concern.
Luna Trading Draws Online Discussions in China Despite Crypto Ban
Despite being banned in China, cryptocurrency is gaining attraction in the country as the value of some of the world’s most prevailing digital currencies and Non-fungible tokens (NFTs) has increased.
Crypto Trading Volumes in Exchanges Sank by Over 40% in June
The ripple effect of the recent crypto market crash continued to be felt as trading volumes at major exchanges nosedived by more than 40% in June.
Crypto Market Capitalization Inches Closer to $3 Trillion
The cryptocurrency market capitalization is a stone’s throw away from the $3 trillion mark as it stands at $2.96 trillion.
(Double) Masterminds of Crypto Mining Scam AirBit Club Charged with Money Laundering and Fraud
US authorities have filed charges against the chief operators of AirBit Club, a purported cryptocurrency mining and trading company, for coordinating an international money laundering and fraud ring that defrauded investors.
Latvian National Extradited to the U.S for Crypto and Wire Fraud
Ivars Auzins, a Latvian citizen, accused of committing securities and wire fraud using eight companies that alleged to mine or invest in crypto assets, was extradited to the United States to face a six-count indictment charge.