For high-energy mining operations, any step toward cheaper electricity is a move toward long-term sustainability Bitfinex analysts suggest that US efforts to tap into Venezuela’s massive oil reserves could lead to a significant drop in electricity costs for Bitcoin miners. By securing access to these vast resources, the energy market may see a shift toward
The truth behind mining power consumption shows it’s not hurting the environment New research is continuing to challenge the idea that crypto mining is a drain on global resources, particularly when it comes to Bitcoin. Environmental, social, and governance researcher Daniel Batten says many of the most common criticisms around mining are not backed by
The Canadian province wants to reduce pressure on its hydroelectric power grid British Columbia is preparing to implement a permanent ban on new cryptocurrency mining connections to its hydroelectric power grid, a move aimed at managing electricity demand and protecting long-term energy sustainability. The provincial government announced the new policy on Monday, explaining that crypto
The new mining facilities will add another 1.5GW to Hut 8’s footprint Hut 8, one of North America’s largest Bitcoin mining companies, has announced plans to build four new mining facilities across the US, adding 1.5 gigawatts of power capacity to its operations. The new sites will be located in Texas, Louisiana, and Illinois, regions
The miner earned $263,000 with a relatively simple Bitaxe mining machine A solo Bitcoin miner has recently achieved a remarkable feat by using a basic mining rig to capture a full mining reward worth $263,000. This miner, who used a small, affordable 480-gigahash per second (GH/s) Bitaxe machine, solved a block in the blockchain and
A new Texas Blockchain Council report suggests crypto mining brought 31,000 new jobs to the US The Bitcoin mining industry has become a significant contributor to job creation in the US, providing thousands of positions both directly and indirectly. A recent report by the Perryman Group, published by the Texas Blockchain Council and The Digital
Tensions between China and the US may have the company eyeing major changes Bitmain, a leading manufacturer of Bitcoin mining equipment, has announced plans to expand its production capabilities to the US. This move comes as trade tensions between the US and China escalate, prompting companies to seek solutions to ensure supply chain stability and
The tech giant teamed up with Atom Computing to create the next level of computing Microsoft and Atom Computing have announced a breakthrough in quantum computing that could reshape blockchain mining, particularly in proof-of-work systems. The collaboration has resulted in the development of a quantum computing system with 24 entangled logical qubits, achieved using just
Several Bitcoin miners have received huge payouts for their dedication A Bitcoin miner has recently secured a not-so-common and significant payday of around $180,000 after successfully mining a block on their own. On September 10, the miner solved block number 860749, which included 5,935 transactions. The reward for mining the block totaled 3.169 Bitcoin, valued
The company has failed to recover from a long string of poor decisions Rhodium Enterprises, a prominent Bitcoin mining firm, has filed for Chapter 11 bankruptcy in the US Bankruptcy Court for the Southern District of Texas. The filing, which was submitted on August 24, 2024, indicates that the company is facing significant financial challenges,
The company was attracting investments on the basis of lies and scams The Texas State Securities Board recently issued a cease-and-desist order against Arkbit Capital, which is accused of committing fraud while conducting cryptocurrency cloud mining operations. The order states that Texas State Securities Board Financial Examiner Alexis Cantrell uncovered evidence that Arkbit Capital and
The miner was the only one to validate the block, leading to the reward Against all odds, a lone Bitcoin miner has successfully solved a Bitcoin block, earning the entire block reward of 3.125 Bitcoin. At today’s price, that’s around $196,000. Congratulations to miner 365ughTgK9Q7rXXTM7vubqy1awZ2AZJijP for solving the 282nd solo block solved at https://t.co/UWgBvLkDqc with a
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