Tag: mining

Major blockchain hosting and digital asset mining company Core Scientific is going public through a merger with Power & Digital Infrastructure Acquisition Corp., valued at around $4.3 billion combined. On Wednesday, Core Scientific Holding Co., one of the largest mining companies in North America, announced its plan to go public on Nasdaq via a special…

Square CEO, Twitter founder, and long-time Bitcoin advocate Jack Dorsey has high hopes cryptocurrency will help bring about world peace. “My hope is that it creates world peace or helps create world peace,” he said during a “The B Word” conference on Wednesday. Tesla CEO Elon Musk and ARK Invest founder Cathie Wood were also…

Police in the Malaysian city of Miri destroyed more than $1.2 million worth of Bitcoin mining rigs after they were confiscated for operating illegally. A video clip, which depicts a steamroller running over 1,069 mining rigs, went viral on Twitter on Friday. As Malaysian paper “The Star” reported, eight people in Miri were charged for…

The Mechanicville, NY plant, an old hydroelectric power plant built in 1897, is now taken to mining Bitcoin using a share of the power produced. It’s an inspiring example of using renewable energy for mining amid criticism over carbon footprint. “We think this is the oldest renewable energy facility in the world that’s still running,”…

The Kazakhstan authority has introduced a new law regarding cryptocurrency mining taxation. The officials published a statement saying that the signed law is expected to come into effect in January 2022 and to generate billions of tenge to the national budget. Kazakhstan joins Iran in taxing the mining industry, given the lucrative potential for business….

Bitcoin mining difficulty has seen its biggest downward adjustment in history as it drops 28%. More than 54% of Bitcoin’s hashrate, which reflects the collective computing power of miners around the world, has gone offline since its peak in May amid China’s crackdown against the crypto industry. Miners, who are still active, have to make…