Demand for Cryptocurrency Miners Rises in Russia Amid Low Prices of Hardware

Russia’s market for specialized crypto mining equipment has been seeing high demand over the past couple of months, with buyers attracted by the low price tags. Russian experts also predict an increase in the supply of used coin minting hardware as large foreign companies leave the industry. Russian Demand for Powerful ASIC Miners Skyrockets in Q4, Report Reveals Demand for powerful computing devices designed to mint bitcoin has surged in Russia during the fourth quarter of the year, spurred by their low prices amid declining crypto markets, the Russian business…

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New York Mayor Supportive of Mining Restrictions but Maintains Crypto Hub Objective

Mayor of New York City Eric Adams took a supportive, if somewhat veiled, stance on the partial crypto mining ban imposed in the state. A law signed by fellow Democrat and New York Governor Kathy Hochul temporarily limits the minting of digital currencies using fossil fuels. New York Mayor and Bitcoin Supporter Eric Adams to Seek Balance With Environmental Goals Cryptocurrency proponent and New York City Mayor Eric Adams has spoken in a supportive tone about the state’s two-year moratorium on certain crypto mining operations relying on carbon-based energy resources.…

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Iranian Power Utility Tavanir Vows Severe Measures Against Unlicensed Crypto Miners

Iran’s state-owned power distribution company, Tavanir, has threatened harsher measures to discourage unauthorized crypto mining. These include much higher fines for those minting digital currencies with subsidized electricity and penalties for government officials involved in mining. Tavanir Raises Fines for Illegal Cryptocurrency Mining The Iran Power Generation, Transmission and Distribution Company (Tavanir) has adopted new, more severe measures to prevent crypto mining outside the law. The utility’s spokesman Mostafa Rajabi Mashhadi announced that fines for illegal activities in the sector have been increased by 400%. Quoted by the English-language Iranian…

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Iran to Shut Down Crypto Mining Farms Amid Record High Power Demand

Authorities in Iran plan to unplug licensed crypto mining facilities as electricity consumption in the country is reaching record highs. The mining farms will be cut off from the grid on Wednesday, the Islamic Republic’s Ministry of Energy announced. Legal Crypto Miners in Iran to Halt Operations Again Due to Electricity Shortages Authorized crypto mining enterprises in Iran will have to unplug their power-hungry coin minting equipment from the beginning of Tir, the next month in the Iranian calendar, or Wednesday, June 22. Mostafa Rajabi Mashhadi, spokesman of the Ministry…

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Where should crypto miners go in a changing landscape?

[ad_1] One of the main themes among the crypto community in 2021 was China’s aggressive policy toward mining, which led to a complete ban on such activities in September.  While mining as a type of financial activity has not gone away and is unlikely to disappear, Chinese cryptocurrency miners had to look for a new place to set up shop. Many of them moved to the United States — the world’s new mining mecca — while some left to Scandinavia and others to nearby Kazakhstan, with its cheap electricity. Mining…

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Bitcoin’s Hashrate Slides 15% in 10 Days, Price and Difficulty Puts Pressure on BTC Miners – Mining Bitcoin News

[ad_1] The price of bitcoin has been on a long losing streak since November 10, 2021, when the leading crypto asset tapped an all-time high at $69K per unit. During the last two weeks, bitcoin has shed more than 19% in value, and the network’s hashrate has dropped from over 200 exahash per second (EH/s) to 174 EH/s losing roughly 15% in ten days. Civil Unrest in Kazakhstan Leads to Hashrate Loss Speculation, Kazakhstan’s Bitcoin Miners Say Issues Did Not Affect Them This week the civil unrest in Kazakhstan caused…

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Publicly-Traded Bitcoin Miners Have Been Outperforming The Bitcoin Price

[ad_1] The below is from a recent edition of the Deep Dive, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now. In regards to the performance of publicly traded miners, we will be looking at their performance since the start of 2020 in both USD and BTC terms. RIOT, MARA, BITF, and HUT will be examined specifically. Since the start of 2020, these four companies have outpaced the performance of bitcoin, and there’s…

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90% of Bitcoin’s Supply Cap Has Been Issued, Miners Have 119 Years Left to Mine BTC – Bitcoin News

[ad_1] On December 12, crypto advocates celebrated the fact that 90% of the 21 million bitcoins that will ever exist have been mined into circulation. Currently, Bitcoin’s inflation rate per annum is around 1.88%, which is lower than the central banks’ traditional 2% target reference. Furthermore, in 875 days, the network’s inflation rate is expected to drop to 1.1% after 19.98 million bitcoins have been mined. Programmatic Scarcity One benefit people enjoy about the Bitcoin network is that it is mathematical and predictable, in comparison to monetary systems issued by…

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Marathon Expands Miner Deployment Deal With Compute North, Aims to Power 100K+ Miners With Renewables – Bitcoin News

[ad_1] Marathon Digital Holdings, a Nasdaq-listed bitcoin mining-based company, has announced a new deal with Compute North, a data center service provider, to host more than 100,000 mining machines in its data centers. The deal is an expansion of an earlier deal that secured positioning for 73,000 mining machines in Texas. Now, the new partnership secures hosting for all of these machines, to be powered with renewables. Marathon Expands Mining Operations Marathon, one of the largest bitcoin mining companies in the U.S., has announced it will expand its…

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Venezuelan Court Rolls Back Seizure of More Than 1,000 Bitcoin Miners – Bitcoin News

[ad_1] A Venezuelan court in the capital of the country has rolled back a seizure of more than 1,000 Bitcoin miners due to irregularities that occurred during the confiscation. According to court documents, the equipment that was seized was in the custody of a third-party company that was doing maintenance services. The court ordered Sunacrip, the national crypto watchdog, to retrieve these miners from their owners. Venezuelan Court Decides On Crypto Seizure Case A Venezuelan court located in the capital of the country has decided to roll back…

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