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The cryptocurrency mining company Hive Digital Technologies has revealed plans to expand its global presence through a new acquisition of property and a data center in Boden, Sweden.On Nov. 27, the company announced that it entered a property transfer agreement with Turis AB to take over the property of a
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To increase its BTC mining capacity, HIVEDigital is buying a data center site in Sweden. Canada-headquartered BTC mining company HIVE Digital has announced its intention to buy an additional data center facility that is located in Sweden. It has been revealed that for this strategic acquisition, the company will with cash
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Sweden has welcomed a hydro-powered Bitcoin (BTC) mining data center. Genesis Digital Assets Limited (GDA), a mining and data center company with over 400 MW of power generation worldwide has made a opened a new data center in Sweden, driven by the country's burgeoning renewable energy surplus. The new operation is
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Sweden is doing away with tax incentives for data centers come July 2023. This decision could affect bitcoin (BTC) miners who had turned to the Nordic country to increase their profitability. Sweden is eliminating tax incentives for
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Based on the average electricity prices last year, the tax hike could bring the all-in energy cost to $0.093/kWh, said Jaran Mellerud, senior analyst at mining services firm Luxor Technologies. A MicroBT Whatsminer M30s, a moderately efficient and commonly used machine, would be at break-even point given current market conditions,
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Crypto exchange Binance is now legal to operate in seven European countries following the latest approval by Sweden’s financial regulator. Overall, Binance has been approved to operate in 15 jurisdictions, including seven EU countries. Binance Approved to Operate in 7 EU Countries Cryptocurrency exchange Binance announced Thursday that its Swedish entity, Binance
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Ripple signed deals for its “On-Demand Liquidity” system with Lemonway, a Paris-based regulated payments provider for online marketplaces, and Swedish money transfer provider Xbaht, which is focused on remittance payments between Sweden and Thailand. RippleNet, the collection of banks and payment providers that have signed on to use Ripple's blockchain
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"This first-of-a-kind experiment will dig deeper into the technology, architecture and design choices and trade-offs, and explore related policy questions," said Beju Shah, head of the BIS Innovation Hub Nordic Centre. "These learnings will be invaluable for central banks thinking about implementing CBDCs for cross-border payments." Source
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Concerned about projected increase in electricity demand, the government in Sweden may turn its back on crypto mining, the country’s energy minister has indicated. Swedish bitcoin minting industry, a leader in Europe, is likely to soon lose the preferential treatment it has been taking advantage of for some time, a
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Swedish financial regulators and the European Commission have discussed the possibility of banning the proof-of-work method that underpins bitcoin because of its impact on the environment, according to documents published by netzpolitik.org, a German website. Source
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