The Urban Mine

Empowering Las Vegas with E-Waste

Bitcoin hashprice drops as miners face possible 30% energy tax

Ad Bitcoin’s (BTC) hashprice has significantly plummeted in recent weeks, dropping to its early January levels — a potential sign that the mining bull run might be over. Hashprice measures the market value for each unit of hashing power. BTC’s price determines Hashprice’s value alongside the network difficulty and transaction fees. With BTC’s network difficulty […]

Biden budget proposal aims to reduce deficit by $74M in 2024 via energy tax on crypto miners

U.S. President Joe Biden’s budget and associated tax proposals could impact cryptocurrency miners, according to the White House’s 2024 budget paper. The budget specifically proposes imposing a “digital asset mining energy excise tax” in one line of its summary tables. The addition is projected to decrease the country’s deficit by $74 million in 2024, $1.38 […]

Senator Lummis questions government’s role in regulating energy use in crypto mining

Ad In a March 7 Senate hearing committee on cryptocurrency and the environment, Senator Cynthia Lummis (R – Wyoming) emphasized that energy efficiency standards must not be utilized to target particular energy use cases like crypto mining. During the committee, evidence was presented by both sides on how the crypto-asset industry impacts the environment. Witnesses […]

Despite 82% drop in quarterly revenue, Bitcoin mining hardware manufacturer Canaan remains optimistic

Ad Canaan, a Chinese manufacturer of application-specific integrated circuit (ASIC) mining machines for Bitcoin, reported an 82% drop in revenue in Q4 2022, according to a filing with the United States Securities and Exchange Commission on March 7. Canaan revenues fall The quarterly dip was precipitated by a 14% drop for the year. In Q4 […]

Missouri passes crypto mining protection law

Ad The U.S. state of Missouri passed the “Digital Asset Mining Protection Act” on March 7 to protect the rights of crypto miners. The bill won’t allow state and political subdivisions to halt crypto mining nodes’ work. The bill summary stated: “The “Digital Asset Mining Protection Act” “precludes the state and political subdivisions from prohibiting […]

Scroll to top