Tag: bitcoin mining
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Pow.re, a bitcoin miner, starts building a mining facility in Paraguay and buys 3,600 Microbt ASICs
Pow.re Holdings Limited, a crypto mining company, claims that the company announced it had started building two new mining facilities in Asunción, Paraguay. The new data centers will control 12 MW of hydroelectric power, and the company has also purchased 3,600 Microbt Whatsminer mining rigs, which generate about 396 PH/s of hashrate each second. Pow.re…
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Kenyan Company Mining Bitcoin with Wasted Energy; Business Model May Aid in Decentralization
Gridless, a Kenyan bitcoin mining company, recently disclosed how it is assisting local communities in lowering electricity costs by mining bitcoin with surplus power. The Gridless mining model has received praise because it may contribute to the decentralization of bitcoin mining and the transfer of some hashpower to Africa. Using Wasted Energy to Mine Bitcoin…
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Block Times Indicate That Progress Toward Bitcoin’s Halving Is 60% Complete, and That a Halving Could Take Place Next Year
Progress toward the subsequent halving of the Bitcoin block reward has surpassed 60%, according to countdown statistics based on the typical block generation time of about ten minutes. Although the majority of halving countdown clocks use the ten-minute average, the countdown using the most recent block intervals, which are around 7:65 minutes, indicates that the…
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According to an ESG study, Bitcoin mining has the potential to eliminate 0.15 percent of global warming by 2045, with no other technology capable of doing so.
The environmental impact of bitcoin mining has become a hot topic in recent months, with climate activists claiming that proof-of-work (PoW) mining is too energy-intensive. However, according to a recent report by ESG analyst Daniel Batten, bitcoin mining could reduce global carbon emissions by 5.32 percent. According to Batten’s research, if bitcoin mining companies “aggressively”…
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More Oversight of Cryptocurrency’s Environmental Impacts is Wanted by US Lawmakers
Twenty-three US lawmakers have asked the EPA to increase oversight of cryptocurrency’s environmental impacts. They said, “We request that the EPA evaluate the compliance of ‘Proof-of-Work’ mining facilities with environmental statutes.” Lawmakers Want More Oversight of Bitcoin Mining Industry U.S. Representative Jared Huffman (D-CA) and 22 other Congress members jointly sent a letter to Environmental…
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Peter Thiel: Bitcoin Is Like A ‘Reserve Form Of Money’
Peter Thiel, the billionaire co-founder of PayPal, believes that critics of bitcoin are “underestimating” the cryptocurrency. In remarks made on the third day of the Financial Investment Initiative summit in Saudi Arabia, Thiel said that while he is “skeptical of most [cryptocurrencies],” he believes bitcoin has a promising future depending on the trajectory it takes,…
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ING Suggests Bitcoin Mining Consumes Too Much Electricity
According to an article published by Business Insider, Dutch bank ING recently published a study suggesting that bitcoin mining consumes too much electricity. The report claims that a single bitcoin transaction consumes as much electricity as a house in a whole month, and compares it to the amount of electricity traditional electronic payment methods consume per transaction. In the piece,…
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Crypto Mining Makes Millions for Gold Mining Maverick
Frank Giustra, a well regarded Canadian mining magnate who created one of the world’s most successful mining companies is now moving his operation digitally to mine Cryptocurrency. Giustra has backed a Blockchain technology company called Hive Blockchain Technologies, which is among the first publicly traded stocks to provide exposure to crypto mining, and for Giustra, he is seeing huge…
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Korea’s Biggest Bitcoin Meetup Publicly Condemns SegWit2x
Members of the Seoul Bitcoin Meetup have released a formal statement opposing November’s SegWit2x Bitcoin hard fork. A copy of the open letter uploaded to Medium Thursday confirms the “staunch opposition” of the group, the largest in South Korea, with 1600 members. “We are confident that BTC, the legacy chain, will not only survive this fork, but continue to…
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Bitcoin Mining Farms Invited to Russian Leningrad Region
Alexander Drozdenko, governor of the Leningrad region in Russia, issued a general invitation to miners to use land in the region for mining farms, per 47news.ru. He has offered to utilize the Leningrad Nuclear Power Plant (LNPP) as a space for new cryptocurrency mining. The announcement came as part of the third annual small and medium-sized…