Cryptocurrency Mining Legalized in Iran by the Economic Commission

After several weeks of speculation, the Economic Commission of Iran has finally approved cryptocurrency mining as an industry in the country. On July 22 the Chamber of Commerce, Industries, Mines and Agriculture made an announcement approving crypto mining. The Commission indicated that the Iranian government was seeking ways of regulating the mechanism of crypto mining…

After several weeks of speculation, the Economic Commission of Iran has finally approved cryptocurrency mining as an industry in the country.

On July 22 the Chamber of Commerce, Industries, Mines and Agriculture made an announcement approving crypto mining. The Commission indicated that the Iranian government was seeking ways of regulating the mechanism of crypto mining within the country’s legal structure.

Parts of Executive Law Approved to Allow Mining

In a statement, Abdolnaser Hemmati, the Central Bank Governor of Iran, stated that cryptocurrency mining has been approved by the economic commission of Iran, and the …

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Bitcoin Miners Diversifying from China to the US over Regulatory Concerns

Bitcoin miners in China are increasingly looking for diversification out of the country because of the anticipated crypto mining ban, the Chinese government’s thoughtful position regarding cryptocurrency, and the increasing pressure from the ongoing trade war with the US. Squire Mining to Host 41,000 ASICs Canadian-based blockchain firm Squire Mining, a leading miner in the…

Bitcoin miners in China are increasingly looking for diversification out of the country because of the anticipated crypto mining ban, the Chinese government’s thoughtful position regarding cryptocurrency, and the increasing pressure from the ongoing trade war with the US.

Squire Mining to Host 41,000 ASICs

Canadian-based blockchain firm Squire Mining, a leading miner in the world in terms of hashpower, has signed a letter of intent seeking to host more than 41,000 Bitcoin ASICs in the US. This move is part of an agreement with Kevin Turner-led Core Scientific, which is a blockchain and AI company. …

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China’s NDRC Wants to Ban Crypto Mining: Another Clamp Down

According to Reuters, China’s state planner wants to ban Bitcoin mining. The National Development and Reform Commission (NDRC) has updated a draft list of industrial activities that it is looking to encourage, restrict, or eliminate. The list was first published in 2011. NDRC Wants to Ban Cryptocurrency Mining Unfortunately for crypto enthusiasts, cryptocurrency mining has…

According to Reuters, China’s state planner wants to ban Bitcoin mining. The National Development and Reform Commission (NDRC) has updated a draft list of industrial activities that it is looking to encourage, restrict, or eliminate.

The list was first published in 2011.

NDRC Wants to Ban Cryptocurrency Mining

Unfortunately for crypto enthusiasts, cryptocurrency mining has made the elimination list. The NDRC concluded that it, along with 450 activities, should be phased out as they did not follow current laws and regulations.

As stated, cryptocurrency mining was joined by 450 other activities deemed …

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What Does the Bitmain IPO Abolition Mean for Cryptocurrency Industry?

Bitmain Technologies has abandoned its IPO enthusiasm after the company’s Hong Kong stock market proposal listing expired earlier this week, sparking debate on the future of the entire cryptocurrency market. The company did say that it plans to reapply at an appropriate time in the future, saying that “despite the huge potential of the cryptocurrency…

Bitmain

Bitmain Technologies has abandoned its IPO enthusiasm after the company’s Hong Kong stock market proposal listing expired earlier this week, sparking debate on the future of the entire cryptocurrency market.

The company did say that it plans to reapply at an appropriate time in the future, saying that “despite the huge potential of the cryptocurrency and blockchain industry, it remains a relatively young industry which is proving its value.”

Bitmain IPO Abandonment

The bitcoin mining giant attracted $700 million from investors in Asia leading up to its much-anticipated initial public offering, which has spurred …

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Two Teachers Mine for Ethereum Using School’s Power

Teachers Mine for Ethereum: Mining for cryptocurrency comes with its controversy. Energy consumption is already the most eyebrow-raising aspect. So what about using the local school’s computers to mine for Ethereum… during school time? Oh, and you’re the principal of the school. This is exactly what happened in Hunan Province, China. Teachers Mine for Ethereum:…

Teachers mine for ethereum

Teachers Mine for Ethereum: Mining for cryptocurrency comes with its controversy. Energy consumption is already the most eyebrow-raising aspect. So what about using the local school’s computers to mine for Ethereum… during school time? Oh, and you’re the principal of the school.

This is exactly what happened in Hunan Province, China.

Teachers Mine for Ethereum: What Happened?

According to Hong Kong news outlet HK01, two Puman Middle School principals were caught using the school’s power to mine Ethereum.

The school’s general manager noticed the computers’ fans were louder than normal and this …

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Bitmain’s BTC.com is Launching an Ethereum Mining Pool

Bitmain Adds Ethereum Mining Pool: The world’s largest Bitcoin mining pool is cheating on Bitcoin. Bitmain’s BTC.com is expanding to add an Ethereum mining pool which will initially support both Ethereum and Ethereum classic.  Users will now be able to switch their hashing power from one pool to another, in light of what’s happening in the market. Bitmain…

Bitmain Adds Ethereum Mining Pool

Bitmain Adds Ethereum Mining Pool: The world’s largest Bitcoin mining pool is cheating on Bitcoin. Bitmain’s BTC.com is expanding to add an Ethereum mining pool which will initially support both Ethereum and Ethereum classic. 

Users will now be able to switch their hashing power from one pool to another, in light of what’s happening in the market.

Bitmain Adds Ethereum Mining Pool

The announcement was made earlier today from BTC.com, which has earned its place as the largest Bitcoin mining pool in the world, having mined 21% of all Bitcoin blocks last year.

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Chinese Crypto Miner Arrested for Stealing Electricity

Chinese crypto miner arrested: A man has been arrested in the Anhui Province of China for allegedly stealing 150 megawatts (MW) of electricity. Chinese Crypto Miner Arrested Local media outlet Xinhua reported the arrest today, stating that the man, known under the surname Ma, had more than 200 computers that he was attempting to mine…

Chinese crypto miner arrested

Chinese crypto miner arrested: A man has been arrested in the Anhui Province of China for allegedly stealing 150 megawatts (MW) of electricity.

Chinese Crypto Miner Arrested

Local media outlet Xinhua reported the arrest today, stating that the man, known under the surname Ma, had more than 200 computers that he was attempting to mine both Bitcoin (BTC) and Ethereum (ETH) with. The computers have now been confiscated, along with the arrest of Ma.

Ma said that he had purchased the computers back in April, unaware of how much it would cost him to …

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Research says Bitcoin Power Consumption May Account for 0.5% of the World’s Energy

As Bitcoin grows, the level of power consumption needed to mine grows too.  This is an area which is also receiving increasing attention. A new study published in the American Journal of Energy Academics Joule claims that by the end of 2018, Bitcoin network’s power consumption may account for 0.5% of the global total. Currently, on…

bitcoin power consumption

As Bitcoin grows, the level of power consumption needed to mine grows too.  This is an area which is also receiving increasing attention. A new study published in the American Journal of Energy Academics Joule claims that by the end of 2018, Bitcoin network’s power consumption may account for 0.5% of the global total.

Currently, on average, every 10 minutes a new block on the Bitcoin network is created or “mined”, and the user who obtained the newly generated block is rewarded with 12.5 Bitcoin. This is the process known as “mining” and is the root …

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Mason County in Washington Halts Crypto Mining Projects

There’s a lot going on in the crypto sector. Some are calling for more crypto regulation, others are warning investors of the multiple crypto risks. Then, there are countries like Canada, the United States, and Iceland – all of which are warning the masses of crypto mining energy concerns, due to the overload of crypto mining…

Crypto Mining energy concerns

There’s a lot going on in the crypto sector. Some are calling for more crypto regulation, others are warning investors of the multiple crypto risks. Then, there are countries like Canada, the United States, and Iceland – all of which are warning the masses of crypto mining energy concerns, due to the overload of crypto mining requests.

Today, joining the conversation surrounding crypto mining – otherwise referred to as crypto farming – is a county in the state of Washington. It’s worth mentioning that this is not the first county in Washington to put a halt …

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Hydro-Québec to Stop New Cryptocurrency Mining Projects in Province

Today, the province of Québec made the announcement regarding Hydro Québec that I have been waiting for this entire month. What Happened? It all started on March 4, when I reported that the Canadian province is unsure of whether Hydro-Québec can power all of the projects interested in cryptocurrency mining in the province. Similar to…

Hydro Québec

Today, the province of Québec made the announcement regarding Hydro Québec that I have been waiting for this entire month.

What Happened?

It all started on March 4, when I reported that the Canadian province is unsure of whether Hydro-Québec can power all of the projects interested in cryptocurrency mining in the province. Similar to Iceland, Québec has transformed into an international hot spot for cryptocurrency mining, bringing in more than 30 applications to mine in the province in January. As profitable and exciting as this may seem, it’s actually quite worrisome as the …

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