Tag: Industry

The outlook of El Salvador’s crypto mining industry

[ad_1] El Salvador, the first nation to adopt Bitcoin (BTC) as legal tender, has recently announced the relaunch of its wallet app Chivo, which is supposed to patch the previous version’s stability and scalability issues. The update is welcomed news for the Central American country’s crypto experiment, which faced some hurdles and harsh criticism over the last few months. While much of the observers’ attention has been focused on aspects such as retail adoption of crypto and geopolitical implications of Bitcoin’s legal status in El Salvador, the progress of the…

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Crypto industry seeks to educate, influence US lawmakers as it faces increasing regulation

[ad_1] Interaction between the cryptocurrency industry and Capitol Hill is becoming ever more intensive as efforts to regulate crypto grow in tandem with its popularity. The surge in crypto industry lobbying last year was given some concrete parameters in February by crypto analytics startup Crypto Head. It released a report showing that the crypto companies that spent the most money on lobbying in 2021 were Robinhood, Ripple Labs, Coinbase and the Blockchain Association. These organizations were the lobbying leaders during the past five years as well, although with different rankings.…

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Mining Industry Makes Bitcoin Vulnerable

[ad_1] Does Bitcoin have a critical weakness? In Greek mythology, Thetis dipped her infant son Achilles into the River Styx to give him the power of invulnerability. Achilles grew to become a seemingly-invincible warrior, but he was felled when a poison arrow struck him in the heel, the very spot where Thetis had held him when she dipped him in the river. She’d missed just one tiny spot, but that was the downfall of Achilles. In modern times, the term “Achilles’ heel” has become synonymous with any powerful force that…

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Global Chip Shortage Looms Over Bitcoin Mining Industry, ASIC Supply Tightens – Mining Bitcoin News

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[ad_1] While Bitcoin’s hashrate has been coasting along above 175 exahash per second (EH/s) and recently reached an all-time high, a global shortage of semiconductor chips could slow the growing industry. The shortfall of supply worldwide has disrupted major industries, and manufacturers like Taiwan Semiconductor Manufacturing Company Limited (TSMC) have seen stocks sink in value. At the same time, application-specific integrated circuit (ASIC) manufacturers are dependent on these chips. Ongoing Semiconductor Shortage Creates Skyrocketing Demand, US Bureaucrats Want to Strengthen American Competitiveness During the last 12 months, bitcoin mining operations…

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Indonesia’s crypto industry in 2021: A kaleidoscope

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[ad_1] In 2021, the number of global crypto holders has been estimated to have increased by 3.9% to more than 300 million crypto users worldwide, with more than 18,000 businesses already accepting cryptocurrencies as payment. India is currently in the lead with 100 million users, followed by the United States with 27 million users and Russia with 17 million users. According to data from Triple A, Indonesia has the seventh-largest crypto user base, below Brazil and Pakistan. It is estimated that there are 7.2 million Indonesians who own cryptocurrencies, while…

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Inside the Iranian Bitcoin mining industry – Cointelegraph Magazine

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[ad_1] ViraMiner is an Iranian company that sets up Bitcoin mining farms and maintains them. It has two offices in western Tehran, located in separate adjacent buildings. When Magazine visits, its old office is busy on a Monday afternoon. This place is now officially dedicated to its repairing services alone. Mining devices are stored upon each other in yellow, green and red shelves raised against a wall facing the company secretary’s desk. Across the entrance, there is a busy repair room where devices are opened. Power supplies, hash boards and…

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US Senator Introduces Legislation to Repeal Infrastructure Bill’s Attack on Crypto Industry – Regulation Bitcoin News

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[ad_1] U.S. Senator Ted Cruz has introduced a bill to repeal the $1 trillion infrastructure package’s crypto provision, which he said is a “devastating attack” on the crypto industry. “I urge my colleagues in the Senate to repeal this harmful language that will create regulatory uncertainty and in turn an unnecessary barrier to innovation,” he said. Senator Cruz Pushes for Infrastructure Bill’s Crypto Provision to Be Repealed U.S. Senator Ted Cruz said Tuesday that he has introduced “legislation to repeal infrastructure bill’s ‘devastating attack’ on emerging cryptocurrency industry.” President Joe…

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Russian Crypto Industry Scrambles to Attract Miners as Kazakhstan Overtakes Russia in Mining Volume – Mining Bitcoin News

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[ad_1] An industry association representing the Russian crypto sector has launched a project to entice bitcoin miners. Despite its abundant sources of cheap energy, Russia is now lagging behind Kazakhstan, another Eurasian Economic Union member, in terms of cryptocurrency production. Russian Project Aims to Expand Country’s Crypto Mining Capacity The Russian Association of Crypto Industry and Blockchain (Racib) has unveiled a project to bring a larger portion of the global computing potential engaged in cryptocurrency mining to Russia. The Russian Federation, Racib noted in an announcement, ranks among the top…

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