Posts in category

Bitcoin Mining


The regulatory crackdown on bitcoin trading in mainland China has reportedly led to a bitcoin miner in Taiwan being shot by local gangsters. According to a report from Taiwanese news source Liberty Times, the incident occurred on Saturday night, local time, when two local gangsters had scheduled to meet a bitcoin miner with whom they had …

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Joe Ciccolo is the president of BitAML, Inc., a compliance service provider. Andrew Hinkes is an adjunct professor at the NYU Stern School of Business and NYU School of Law. This article is not intended to provide, and should not be taken as, legal advice. With just one paragraph, an agency of the U.S. government may …

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Blockchain technology company Bitfury announced it will open an “energy efficient” datacenter in Norway March 20 in a deal with the blessing of the government. In a blog post, the business confirmed it would open two sites around the town of Mo i Rana, investing 274 million kronor ($35 mln) in infrastructure and hiring 30 …

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The city of Plattsburgh, New York, has chosen to temporarily ban all new commercial cryptocurrency mining operations for the next 18 months – but local officials have suggested that the prohibition could end earlier. Last Thursday, Plattsburgh’s City Council adopted a local law prohibiting any new mining operations from setting up shop, effective immediately. The …

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Earth Hour, a grassroots movement within the World Wildlife Fund to turn off all electricity for a single hour once a year as a way to draw attention to energy consumption, will be celebrated by Russian miners this year as well with the creation of “Crypto Hour,” local news outlet Rambler reported March 15. In …

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A recent report by Fundstrat’s Tom Lee notes that Bitcoin (BTC) mining earnings are currently almost breaking even, as the activity has temporarily become less profitable the midst of the current decline in the markets, CNBC reported yesterday, March 15. Lee notes in the report that the current figure for the cost of mining one …

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Cryptocurrency mining firms in upstate New York may be looking higher utility bills following a ruling from the public utilities regulator. In an announcement from the New York State Public Service Commission on Thursday, its chair, John B. Rhodes, said that upstate municipal power authorities are allowed to charge higher electricity use for cryptocurrency mining businesses starting from …

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The co-founder of Czech cryptocurrency exchange NakamotoX will launch a Blockchain startup based on growing edible crops from excess mining heat. In a Twitter discussion March 10, Kamil Brejcha said staff had created bespoke housing for Bitcoin servers, which harnesses heat and sends it to greenhouses currently growing tomatoes. The project, which will soon be …

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Cryptocurrency mining is perfectly legal in Europe and only subject to standard electricity rules, according to an EU commissioner. In a statement released last week, Mariya Gabriel, European Commissioner for Digital Economy and Society, addressed concerns about the power-intensive nature of cryptocurrency mining, while clarifying the regulatory status of the industry. Gabriel said: “If the …

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The major Chinese cryptocurrency mining hardware manufacturer Bitmain is reportedly involved in the development of Ant Creek mining centers in the US. According to the business data website companies-number.com, Bitmain’s co-founder Jihan Wu is the sole “governing person” of the Ant Creek LLC in Tumwater, Washington. According to local newspaper the Union Bulletin, Ant Creek …

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The cryptocurrency mine launched by Japanese IT firm GMO Internet has generated more than $3 million in revenue over the past three months. According to a mining report released on March 5, the publicly-traded company disclosed that it had generated 23 BTC, 93 BTC and 124 BTC in December, January and February, respectively. All told, …

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A city in the U.S. state of New York could put an 18-month halt on new bitcoin mining operations in the area amid concerns from local officials. Plattsburgh, according to reports, is weighing a proposed law that would impose a “moratorium on commercial mining operations” until city officials can consider “zoning and land use laws and municipal lightning …

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The Quebec government said it is “not interested” in providing cheap electricity to Bitcoin miners via state utility Hydro-Quebec during a conference Friday, Mar. 2, Bloomberg reports. In comments during a conference in the capital Montreal, Premier Philippe Couillard implied that, unlike previous statements from Hydro-Quebec itself, “doing Bitcoin mining” without providing “added value” for …

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Icelandic information technology service Advania has confirmed with their security footage that the police have apprehended the right two men for the three burglaries at data centers in Iceland last December and January, local news outlet Visir reported Feb. 21. Visir had earlier reported that there were three burglaries in total, from a period of …

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Chinese mining hardware giant Bitmain has reportedly made higher profits in 2017 than long time American graphics processing unit (GPU) manufacturer Nvidia, CNBC reported Feb. 23. CNBC writes that according to a report published Feb. 21 from investment research company Bernstein, the four-year-old Bitmain reportedly made between $3 and $4 billion in operating profit in …

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Cloud security intelligence (CSI) firm RedLock has exposed a new case of cryptojacking targeting Tesla’s Amazon Web Service’s (AWS) software container, the RedLock blog reported yesterday, Feb. 20. Hackers accessed Tesla’s AWS access credentials by penetrating a non-password protected Kubernetes software container. The hackers then used the Kubernetes container to mine for cryptocurrencies, for an …

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The U.S. Federal Communications Commission (FCC) has sent an official notice, dated Feb. 15, to a resident of Brooklyn, New York, Victor Rosario, citing that his Bitcoin (BTC) miner was causing harmful interference to T-Mobile’s broadband network. The “Notification of Harmful Interference” stated that the device was “generating spurious emissions on frequencies” for T-Mobile’s network. …

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Analysts are concerned that Bitcoin and cryptocurrency mining centers are spending too much electricity, and that the process of verifying cryptocurrency transactions could worsen the global environment. Justification of mining in Bitcoin and cryptocurrencies In December 2017, several analysts criticized the electricity consumption of Bitcoin and cryptocurrency mining centers, calling the mining process an “environmental …

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A mining company backed by Bitfury is set to become publicly listed later this month in Canada. Bloomberg reports that Hut 8 Mining Corp will appear on the TSX Venture Exchange, headquartered in Toronto. Back in December, Hut 8 announced that it was partnering with Bitfury in order to “acquire, install, maintain and operate North …

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An Icelandic lawmaker has suggested imposing a new tax on bitcoin mining companies. Speaking with Associated Press, Smari McCarthy of the Icelandic Pirate Party floated the idea during an interview about the country’s global position as a hub for bitcoin miners. Iceland has long played home to an ecosystem of bitcoin miners, thanks to the country’s access …

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