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Nikolay Shulginov, Russia’s minister of energy, told the TASS agency that cryptocurrency miners should pay more than households for electricity in order to maintain the reliability and good working of the electricity grid, the agency reported Wednesday.The Ministry of Energy is working on solutions, he said, though it’s unclear if
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The Russian Ministry of Energy is looking to introduce special electricity tariffs for cryptocurrency miners following a migration of the industry into the country from nearby China.Russian Energy Minister Nikolai Shulginov announced Wednesday that the authority is working on a new framework to differentiate tariffs between general usage and cryptocurrency
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Lastly, and perhaps most importantly, a new feature of bitcoin mining has begun to gain traction, to the benefit of power grid operators. Bitcoin miners represent “interruptible load,” which means that they can deal with power outages without suffering adverse impacts to their business. Of course, they prefer to have
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55 days from now will be the hundred-year anniversary of when the American industrialist and business magnate Henry Ford talked about a unique “energy currency” that could “stop wars.” The well known founder of the Ford Motor Company suggested that a currency could be backed by energy in kilowatt-hours (kWh)
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The IDO season is not over yet. The past few months we have witnessed busy days as the crypto community was burdened with filling whitelisting forms and participating in community initiatives of upcoming IDO projects. The current state remains the same. This new DeFi energy project, IOEN, is fully invested
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Such an argument runs into an inevitable hurdle, though: If you actually like cruises (no accounting for taste), you may think it’s worth it to burn all that bunker fuel. By the same token, most arguments against Bitcoin’s energy use presume that the energy is being wasted, without actually supporting
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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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“I’ve just instructed the president of @LaGeoSV (our state-owned geothermal electric company), to put up a plan to offer facilities for #Bitcoin mining with very cheap, 100% clean, 100% renewable, 0 emissions energy from our volcanos,” Bukele tweeted at that time. Source
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The beauty behind cryptocurrency networks like Bitcoin is the fact that anyone can participate in the field of crypto mining. In fact, two siblings explained in a recent interview that they rake in more than $30K per month mining digital assets. Kid Duo Captures $30K a Month Mining Digital Currencies A 14-
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In 1921, American industrialist Henry Ford proposed the creation of an “energy currency” that could form the basis of a new monetary system — offering striking similarities to the peer-to-peer electronic cash system outlined in Satoshi Nakamoto’s 2008 Bitcoin (BTC) whitepaper. Front page of the New York Tribune dated Sunday, December
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