Cryptominer in Taiwan must pay a fine for using private electricity
Recently Changhua city court demanded that a cryptominer pay around $55,547 for the improper use of electricity for crypto mining operations. The cryptominer, whose last name is Cheng, would have installed 20 pieces of equipment towards the private line that, curiously, is not connected to an electric meter. Therefore, the owners of the company had […]
Hydropower plant fined for aiding illegal crypto mining
A Hydropower plant located in the Hubei province of China has been fined for illegally supplying resources to miners in the region. According to reports, the plant has been mandated to pay about $6,528 for its crimes. In the statement by the authorities, the plant was charged with one offense of supplying electricity using illegal […]
China re-emerges as second-largest bitcoin mining center despite recent ban
Despite the intense pressure from the Chinese government last year to crack down on cryptocurrency operations, especially mining, the country has again surfaced as one of the biggest Bitcoin mining jurisdictions of 2022. The Cambridge Bitcoin Electricity Consumption Index (CBECI) provided by the Cambridge Centre for Alternative Finance (CCAF) shows that Chinese Bitcoin mining activities […]
Stocks of major Bitcoin mining firms tank as market downturn worsens
Following the mayhem in the cryptocurrency market recently, the shares of the five largest publicly-traded Bitcoin mining companies have dropped by more than 50 percent year-to-date, according to a market report shared by Arcane Research analyst Jaran Mellerud. Stocks of Bitcoin mining firms halved The stock price of the Bitcoin mining companies – Core Scientific, […]
Kazakhstan unveils new requirements for miners
Kazakhstan has sounded out a new requirement that will see crypto miners report their activities before kickstarting their mining processes. According to a report, the government has been keeping a keen eye on the sector’s activities to monitor the power grid in Kazakhstan. Following an in-house consultation among department members, the Digital Development ministry released […]
How to Mine Filecoin 2023 (Complete Guide)
Cryptocurrency mining may be conceptualized simply as a method of producing new virtual coins. But that’s where the simplicity ends. You’ll need to work out challenging riddles, verify cryptocurrency transactions on a blockchain network, and add the transactions to a distributed ledger in order to find those coins. Additional security precautions are implemented since digital […]
