Cryptocurrency Analysis and News Portal
Chinese chip powerhouse SMIC saw Q1 revenue fall to $1.46 billion as it continues to withstand chip shortages and US trade sanctions. Semiconductor Manufacturing International Corporation (SMIC) has seen its revenue fall according to its latest quarterly figures. On Friday, the Chinese chipmaking giant posted revenue of $1.46 billion for Q1
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Custodial CeDeFi investment platform Midas will close down its operations because of a $63.3 million deficit in its decentralized finance (DeFi) portfolio. In an announcement, the company’s founder and CEO Iakov Levin also known as “Trevor” wrote that the move is partly because the fund’s DeFi portfolio lost $50 million, which
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The entire crypto market bled with multiple losses and asset devaluation after the collapse of Sam Bankman-Fried’s crypto exchange FTX. In addition, crypto firms exposed to FTX got a fair share of the bitter pill. Investigations have been ongoing to determine the location of the $8 billion hole in FTX’s balance
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In its attempt to relieve the pressure against the rupee, the Indian government announced on July 1 that it had hiked the duty on imported gold by five percentage points to 12.5%. However, there are fears the import duty hike will spur a resurgence in the smuggling of the commodity.
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Hardware manufacturer Canaan is expanding its crypto mining operations in Kazakhstan. The company is now cooperating with a number of mining firms there and has already deployed over 10,000 pieces of hardware despite the country’s challenges with electricity supply. Increased energy prices have also provoked protests that could potentially affect
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Electricity shortages have been dogging Kazakhstan’s booming crypto mining industry this year. A media report reveals that some miners, including some of those that moved in amid China’s crackdown on the sector, are now looking to relocate to destinations with a more stable energy supply like the United States. Miners Shut
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With а growing threat of electricity shortages in the winter months, Ukraine has busted another large coin minting facility illegally drawing power from the grid. The country’s security agency announced it’s stepping up efforts to ensure the nation’s energy system is well-protected from such consumers. Large-Scale Illegal Mining Operation Uncovered
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State-owned Russian energy giant Inter RAO is now discussing electricity supplies for Kazakhstan where crypto miners have allegedly caused a spike in consumption this year. The country is expecting the power deficit to reach 600 megawatts as demand during the winter increases even further. Kazakhstan Likely to Buy Electricity From
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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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The cost to purchase one Ethereum (ETH) token surged to its two-year high in the days leading up
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