Iran cuts off electricity to crypto miners to save energy for the summer period
    21 Jun 2022

    Iran’s Ministry of Energy has decided to cut down the supply of electricity given to the authorized crypto mines units of the country to ensure the enough power supply for the citizenry. This decision will be implemented on June 22, Tehran Times reported. A spokesman for the Iranian Energy Ministry, Mostafa Rajabi Mashhadi, said that…

    As Ethereum mining is going away, miners are not happy, Bloomberg reports
    20 Jun 2022

    The shift from Proof-of-Work (PoW) to Proof-of-Stake (PoS) will cut power consumption sharply – and leave some expensive technology searching for new uses, write Olga Kharif and David Pan on Bloomberg. The Ethereum mining community is a diverse bunch, geographically and demographically. There’s a 28-year-old translator in Ukraine, running computing hardware on his balcony to…

    Oman invests in US firm to use natural gas flaring for crypto mining
    05 Jun 2022

    Oman’s sovereign wealth fund has acquired a $350 million stake in Crusoe Energy Systems – a US company that helps fossil fuel producers reduce gas flaring by using stranded flared gas to power crypto mining. According to Crusoe’s CEO, the first pilot project could be launched by the end of this year. According to Bloomberg,…

    US Bitcoin miners seek to expand to the Middle East
    12 Apr 2022

    Major Bitcoin miners in the US are looking at the Middle East, Europe, and other regions to expand their energy-intensive industry, Bloomberg reported. They are seeking low local electricity prices and liberal regulations on crypto mining. “We are geographically diversified in the US … but we are also looking outside the US,” Mike Levitt, chief…

    19 million Bitcoin have been mined, less than 2 million left
    04 Apr 2022

    The 19th millionth Bitcoin (BTC) was mined on Friday, a landmark occasion for the world’s first and biggest cryptocurrency. Yet 2 million Bitcoin to be mined until about the year 2140. Meanwhile, Bitcoin network difficulty reached a new all-time high. The Bitcoin (BTC) network reached a milestone on Friday, April 1, 2022, after records show…

    Intel details ‘Bonanza Mine 2’ chip for efficient Bitcoin mining
    22 Feb 2022

    Intel Corporation, a computer chip manufacturing giant, has shared details of a new mining chip that will be coupled with a high-performance 3,600-watt miner with the ultimate goal of improving Bitcoin (BTC) mining efficiency. Intel’s new chips are powered by a high-performance miner to deliver up to 40 TH/s in a balanced environment. Intel has…