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EU Set to Vote on Proof-of-Work Crypto Mining Ban
The European Union will vote on Monday on a cryptocurrency framework proposal that could result in the banning of proof-of-work consensus assets. The high-stakes vote is too close to call, according to those with inside knowledge The cryptocurrency market could face a
Greener Bitcoin Mining Could Be China’s ‘Trillion-Dollar Present’ to the US
This is the second part of a two-part series. Read the first story here. When China banned bitcoin (BTC) mining from May of last year, it handed the U.S. a “trillion-dollar present,” as one mining executive told CoinDesk. But perhaps most
Texas Congressman Pushes For Bitcoin Mining To Make US ‘Energy Independent’
US Congressman Pete Sessions believes bitcoin is consistent with American ideals and will help boost the US dollar. Rep. Sessions also pointed out that cryptocurrency “is going toward becoming a more resilient alternative choice” for hedging against fiat-currency inflation. Bitcoin mining
Crypto Industry Welcomes Biden’s Executive Order — Expert Says ‘It’s About as Good as We Could Ask’
Many people in the crypto industry welcome President Joe Biden’s executive order on crypto. A crypto regulatory expert says, “It’s about as good as we could ask.” Another sees the order as the federal government viewing “cryptocurrency as a legitimate, serious,
Core Scientific Announces Preliminary 2021 Financial Results, 2022 Operating Guidance and February Updates
Core Scientific, Inc. (NASDAQ: CORZ) (“Core Scientific” or “the Company”), a leader in high-performance, net carbon neutral blockchain infrastructure and software solutions, today announced preliminary financial results for the fiscal year ending December 31, 2021, initial fiscal year 2022 operating guidance
Bitcoin Miners Have Found a New Paradise — And It’s In The U.S.
While the practice of crypto mining is spreading fast across the US, people usually don’t think of Georgia as a prime place for it: When it comes to business, the state still often brings up associations of Coca-Cola (KO) – Get Coca-Cola Company Report,
Bitcoin price remains volatile despite hashrate reaching historic levels
Even after slipping to a 6-month price bottom a little over a week ago, BTC’s network growth has continued at a remarkable rate. Experts believe that BTC needs to hold on to its AUD$52,500 (US$37,000) resistance to regain any sort
Bitcoin miners believe global hash rate to grow ‘aggressively’
Bitcoin (BTC) seems to be on everyone’s mind lately as the world recently witnessed the price of BTC take a rather unexpected bearish turn this month. On January 21, 2022, Bitcoin reached six-month lows, sinking below $40,000 for the first time
What the BMC’s findings on the ‘sustainable’ Bitcoin mining industry tell us
There’s no denying that over the past couple of years, the narrative that Bitcoin consumes too much power has continued to garner mainstream traction. However, in recent months, an increasing number of Bitcoin miners have moved towards renewable energy. Look at these
Chips off the new Block: Jack Dorsey’s fintech launches bitcoin mining project
Twitter founder Jack Dorsey’s company Block says it will make bitcoin mining more accessible, just months after the US became the top destination for creating the cryptocurrency. However, the announcement shouldn’t surprise anyone as Block founding CEO Dorsey has made
Bitcoin mining has totally recovered from Chinese ban
Whinstone CEO Chad Harris takes CNBC on a tour of the largest bitcoin mine in North America. Bitcoin mining has totally recovered from the Chinese crypto crackdown that took more than half the world’s miners offline virtually overnight earlier this year.
After China’s Crypto Ban, Who Leads in Bitcoin Mining?
Bitcoin Mining Moves to America Bitcoin mining is a process that verifies transactions on the blockchain ledger, while also bringing new bitcoins into circulation. To be successful at this, cryptominers require vast amounts of computing power, meaning electricity becomes one
UAE-Based Phoenix Technology Consultants Places Order for $650M Worth of Crypto Mining Rigs
UAE-based Phoenix Technology Consultants has signed a $650 million order for crypto mining rigs, one of the largest purchases on record, CEO Munaf Ali said at the World Digital Mining Summit (WDMS), which started in Tuesday in Dubai. Deliveries of
U.S. officially the top destination for bitcoin miners, beating out China for the first time
The U.S. is now the number one destination for bitcoin miners, eclipsing China for the first time ever. While it was already trending in that direction, new data from Cambridge University released early Wednesday makes it official. As of July, 35.4% of bitcoin’s hashrate
Institutional Interest in Crypto Miners is Peaking
As China is working to shut down Bitcoin mining, the U.S. is becoming the new hub for the industry. As of April 2021, they account for 17% of all of the world’s Bitcoin miners. This is due in large part