Category: Mining

Europe’s mining heaven Sweden looks to re-direct Bitcoin miners’ power to job-creating projects as the country’s energy demand rapidly increases. Sweden’s Energy Minister Khashayar Farmanbar told Bloomberg News: “We need energy for more useful things than Bitcoin, to be honest. We are moving from a period of administration to an extreme expansion where our entire

On July 14, the Senate of Paraguay sent a bill to the President’s approval to allow crypto miners to use excess energy and be exempt from Value Added Tax (VAT). If the bill passes by the President, Paraguay might become the next target of the crypto mining companies. Paraguay’s Mister of Technology, Information, and Communication,

The recent downturn, along with a myriad of other factors, has put Bitcoin mining companies under pressure to stay operational. According to Politico, miners have also had to contend with interest rate rises and rocketing energy costs, in addition to prices crashing, which means less demand and tighter profit margins. “Rising interest rates, crashing crypto

JPMorgan Chase & Co. strategists said that Bitcoin’s (BTC) cost of production is down by almost half to $13,000 presently from $24,000 at the start of June,  Bloomberg News reported July 14, The Nikolaos Panigirtzoglou-led strategists wrote that this decline in production cost is primarily due to the reduction in electricity use. The Cambridge Bitcoin

Bitcoin (BTC) hashrate dropped to as low as 159.41 exahashes per second (EH/s) on July 13, its lowest in five months, as Texas-based miners were forced to go offline. According to data from BTC.com, the 27% drop in hashrate is the largest since February 2022. Bitcoin hashrate, which signifies the network’s computing power, has been

The President of Kazakhstan signed a bill to apply a differentiated tax rate based on the energy consumption of crypto miners on July 11. The new bill altered the country’s law on Taxes and Other Mandatory Payments to the Budget. The tax rates start at 1 Khazakstani tenge per kilowatt-hours at the lowest (approximately $0.002)

Cryptocurrency infrastructure provider Lancium has partnered with Houston-based power producer Broad Reach Power, according to a July 7 statement. As part of the deal, Broad Reach will supply power for a portion of Lancium’s 25 megawatt Texas Clean Campus data center, the statement said. Broad Reach is a leading utility-scale solar and energy storage platform