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The monetary authority in Moscow has expressed support for the latest legislative attempt to legalize cryptocurrency mining. However, the regulator wants the extracted digital currency to be sold outside the country or only under special legal regimes in Russia, as an exception. Russia’s Central Bank Suggests Restrictions Be Added to Proposed
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Bitcoin (BTC) mining is the backbone of the BTC ecosystem and miners’ returns also provide insight into BTC’s price movements and the health of the wider crypto sector.It is well-documented that Bitcoin miners are struggling in the current bear market. Blockstream, a leading Bitcoin miner recently raised funds at a
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A hydro-powered crypto mining project based in Africa released an update on its efforts to bring energy developments to rural communities via Bitcoin (BTC).On Dec. 9, Gridless Compute tweeted photos and commentary on how their hydro-power BTC mining rigs are powering an entire rural settlement while also lowering energy rates
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Gridless, a bitcoin mining company operating from Kenya, recently raised $2 million in seed investment from Block, a digital payments company owned by Twitter founder Jack Dorsey, and Stillmark. The bitcoin mining firm is reportedly planning to use the capital raised to fund its expansion into other African countries. Using
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The low profitability of BTC mining is still puzzling for many crypto fanatics and investors. There’s no surprise here, given the ever-increasing energy costs. Moreover, the bear market is also significantly impacting Bitcoin’s mining difficulty. As for now, making reasonable profits from mining Bitcoin is not probable. This fact, however, doesn’t
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Companies extracting cryptocurrencies in Kazakhstan will be allowed to purchase only excess electricity on a government-controlled market. The decision comes with new legislation approved by lawmakers which regulates the activities of the industry and the taxation of its profits. Law to Regulate Crypto Mining in Kazakhstan, Change Licensing Rules The lower house
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The crypto mining industry may see a two-fold increase in its share of Russia’s power consumption in 2022, according to a high-ranking official from the Ministry of Energy. The department supports a bill designed to regulate the sector which is likely to be adopted this year. Russian Energy Ministry Forecasts Rise
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The depths of a bear market may not be the best time to raise funds but that is exactly what Blockstream is doing.The crypto infrastructure firm is seeking fresh funding, but at a much lower valuation than previous rounds, according to a Dec. 7 Bloomberg report.Blockstream was valued at $3.2
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The bill would cap how much the grid operator can charge bitcoin miners for electricity. Original Source
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At these “depressed profitability levels, even miners using energy-efficient machines like the Antminer S19j Pro need access to electricity priced lower than $0.08 per kWh,” said Jaran Mellerud, an analyst at Luxor. Even though the average energy price on the network is about $0.05 per kilowatt hour (kWh), many miners
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