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Iran: Cryptocurrency Industry now “Official” in the eyes of the Government

July 23, 2019 by Eddie Mitchell at Regulation

Irans Head of Economic Commission has announced to Mehr News Agency that the government now officially acknowledges the cryptocurrency industry. Seemingly, with a primary motivation to alleviate the weight of sanctions imposed by the U.S., the news arrives in tandem with the government loosely establishing energy rates for cryptocurrency mining,...

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Apple’s Steve Wozniak Launches Blockchain Firm in Malta

July 19, 2019 by Ogwu Osaemezu Emmanuel at Business

Steve Wozniak, the co-founder of Apple has launched EFFORCE, a Malta-based startup that’s looking to use distributed ledger technology (DLT) to improve energy use and lower consumption, reports Independent on July 18, 2019. “Woz” Launches EFFORCE in Malta Per sources close to the matter, Steve “Woz” Wozniak, the renowned American...

Authority man findin a cryptocurrency mining machine

Iranian Authorities Impound 1,000 Bitcoin Mining Machines

June 28, 2019 by Ogwu Osaemezu Emmanuel at News, Regulation

Power officials in Iran have seized 1,000 bitcoin mining machines in two abandoned factories turned into mining farms in the central province of Yazd, Iran. The officials claim the cryptocurrency mining equipment was seized because their operators illegally made use of government-subsidized electricity, according to a Tech2 report on June...

Canada: Quebec Allocates Additional Electricity Towards Local Blockchain Ecosystem

May 1, 2019 by Aisshwarya Tiwari at Blockchain, Mining, News, Tech

On April 29, 2019, Quebec’s energy regulator Regie de l’energie announced that it will move forward with the proposal to allocate an additional 300 MW block of electricity to the local blockchain ecosystem. With this, the Canadian province’s blockchain industry has a total of 668 MW of electricity at its...

Germany: Six Arrested in Illegal Crypto Mining Operation

February 9, 2019 by Tokoni Uti at Altcoins, Bitcoin, Crime, News

German police have arrested six members of a mining ring who were making use of stolen electricity to mine currency since 2017, as reported by Freie Presse, February 6, 2019. Hijacked Power While people around the world enjoy using cryptocurrency, the actual process of mining crypto is quite tedious and...

Mining Bitcoin no Longer Profitable, JPMorgan Says

January 26, 2019 by Priyeshu Garg at Bitcoin, Commentary, Finance, Mining, News

The drop in the price of Bitcoin has rendered a large percentage of mining operations unprofitable, with only low-cost mines in China operating without losses, Bloomberg reported on January 25, 2019. Diminishing Returns The plummeting price of almost all cryptocurrencies has affected every sphere of the crypto industry, with everyone...

Cryptocurrency Miners May Have to Pay More for Electricity in Chelan County

November 18, 2018 by Rahul Nambiampurath at Altcoins, Bitcoin, Business, Mining, News, Regulation

There is little doubt that cryptocurrency mining is extremely power intensive, with particular emphasis on coins that still rely on the Proof-of-Work (PoW) consensus mechanism. Recognizing this, Washington State’s Chelan County Public Utility District (PUD) has proposed a rate hike for mining enterprises within the region. The county is currently...

Chelan County PUD Looking to Increase Energy Rate for Bitcoin Mining by 7 Cents Per KWH

August 22, 2018 by Ogwu Osaemezu Emmanuel at Bitcoin, Business, Mining, News, Regulation

On August 20, 2018, cryptocurrency miners in the Washington state held another round of public comment with the electricity providers to discuss the proposed power rate increment. However, nothing good came out of the meeting as the Public Utility District (PUD) officials have postponed the hearing. Bitcoin Miners Lament According...

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