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Latest Turkey Inflation Rate of 79.6% the Highest in 24 Years — Weakening Lira and Russia-Ukraine War Blamed – Economics Bitcoin News

According to the latest data from the Turkish Statistical Institute, the country’s annual inflation rate for the month of July was 79.6%, the highest in 24 years. Rising transportation costs, food and non-alcoholic beverages were some of the product categories that contributed to the overall rate increase. Transportation Costs Rose

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Speculators and Crypto Traders Blamed for Naira’s Plunge, Kenyan Institutions Told to End Dealings With Nigerian Fintechs, CAR Token Sale off to Slow Start – Africa Bitcoin News

In this week’s Africa news highlights, the Nigerian central bank blames speculators for causing the local currency’s plunge to a new all-time low on the parallel market. In Kenya, the central bank has told financial institutions to cease having dealings with two Nigerian fintechs, Flutterwave and Chipper Cash. The Central

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Power Outages in Russia’s Irkutsk Region Blamed on Home Miners – Mining Bitcoin News

Russians mining cryptocurrency in their homes have been blamed for the problems with the electricity supply in Irkutsk. Power outages have become a frequent occurrence in the region which maintains the lowest electricity rates in Russia. Subsidized household energy has turned mining into a source of income for many locals. Electricity

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Kazakhstan Mulls Nuclear Power to Deal With Electricity Shortages Blamed on Crypto Miners – Mining Bitcoin News

The government in Kazakhstan is considering building a nuclear power plant to overcome an electricity deficit allegedly caused by the booming crypto mining industry. Problems with power supply are driving away miners that saw the Central Asian country as a new home when China recently cracked down on the industry. NPP

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Crypto Miners Blamed for Power Supply Deficit in Kazakhstan, Government Mulls Restrictions – Mining Bitcoin News

Kazakhstan is facing electricity shortages and cryptocurrency mining has been singled out as the main culprit. Amid an ongoing crackdown in China, the Central Asian nation has become a magnet for crypto miners who are taking advantage of its low electricity rates. Republic of Kazakhstan Sees 7% Increase in Electricity

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Remittances to Africa Set to Drop by 5.4 % to $41 Billion — Covid-19 Pandemic and High Sending Costs Blamed – Emerging Markets Bitcoin News

According to findings from the Continental Migration Report 2021, remittances to African countries are projected to decrease from the $44 billion recorded in 2020 to $41 billion. The Covid Effect As expected, the Covid-19 pandemic is identified as one of the main causes of the decline. However, despite this projected 5.4

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