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As cryptocurrency mining activity grows increasingly common in Russia, one local region is struggling to maintain power stability amid massive inflows of new crypto mining operations.Russia’s Irkutsk Oblast, a federal region and Russia’s major center of trade routes from China, experienced a fourfold increase in energy consumption in 2021 due
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The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies
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This episode is sponsored by Nexo, Abra and FTX US.Download this episodeThis week on the “Weekly Recap,” NLW breaks down the House hearing on energy in the crypto industry. He looks at problems with the advance memo and provides refutations of some of the misunderstandings.See also: Witnesses Debate Crypto Mining's
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Five industry experts appearing before the United States House Energy and Commerce Oversight Subcommittee had different views on how lawmakers should address the energy consumption of cryptocurrencies.In written testimony released before a Thursday hearing on “Cleaning Up Cryptocurrency: The Energy Impacts of Blockchains,” former Comptroller of the Currency Brian Brooks
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11:30 a.m. ET (ND) Good morning folks, and welcome to CoinDesk's live coverage of the House Energy and Commerce Committee hearing on cryptocurrencies and their environmental impact. Titled "Cleaning Up Cryptocurrency: The Energy Impacts of Blockchains," the hearing seems likely to focus on Bitcoin in particular and proof-of-work more broadly,
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A House committee will take a look at crypto and its energy requirements this week. It’s another congressional look at crypto.You’re reading State of Crypto, a CryptoX newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions.Yet another crypto hearingThe narrativeCrypto’s energy use has been under
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Binance has agreed to set up a cryptocurrency exchange with Thailand's Gulf Energy Development.Gulf Energy Development, a publicly traded holding firm, informed the Thai Stock Exchange Monday that its subsidiary Gulf Innova is to study developing a digital asset exchange with Binance.Gulf Energy Development says it foresees "rapid growth in
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The president of El Salvador, Nayib Bukele, has confirmed that the country is making investments to secure a geothermal power source for the construction and operation of the upcoming Bitcoin City, which will be financed with the earnings of the so-called “volcano bonds.” Bukele stated there are high chances of
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Crypto mining in Kazakhstan is likely to be hurt after protesters stormed government buildings to complain about surging energy costs, leading the country’s largest telecommunications provider to shut down access to the internet.Bitcoin mining found a home in Kazakhstan after China’s clampdown on the industry last year. It was second
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The government of Kosovo has decided to suspend crypto mining activities in the country as part of measures to deal with power shortages this winter. The move has been proposed by a special parliamentary committee tasked with bridging the gap between electricity demand and supply. Kosovo Authorities Ban Crypto Mining to
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