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Category: Mining

Investment Fund Focused on Crypto Mining to Be Created in Russia

Posted on March 3, 2023 By Caden
Investment Fund Focused on Crypto Mining to Be Created in Russia

The establishment of Russia’s first mutual investment fund dedicated to financing cryptocurrency mining operations is underway. According to a report by the Russian press, it will be available to qualified investors and will finance the acquisition of coin minting equipment. Russian Crypto Mining Sector to Attract Shareholders Through Investment Fund Work has begun to set…

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Next Bitcoin Mining Difficulty Change Estimated to Decrease as Block Times Have Lengthened

Posted on February 4, 2023 By Caden
Next Bitcoin Mining Difficulty Change Estimated to Decrease as Block Times Have Lengthened

The last two mining difficulty changes on the Bitcoin network have driven difficulty to an all-time high, causing a decrease in hashrate and block interval speed. Before the latest difficulty retarget increase of 4.68%, block intervals were faster than the 10-minute average, at approximately 8 minutes 54 seconds to 9 minutes 31 seconds. However, since…

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Bitcoin Network Braces for Notable Difficulty Increase in 3 Days

Posted on January 12, 2023January 27, 2023 By Caden
Bitcoin Network Braces for Notable Difficulty Increase in 3 Days

Bitcoin’s mining difficulty, the measure of how difficult it is to find a new block and add it to the blockchain, is set to increase significantly on Jan. 15, 2023, according to current estimates. At the time of writing, Bitcoin’s mining difficulty appears to be on track for a 10% increase, rising from 34.09 trillion…

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Crypto Miners in Kazakhstan Start Paying Higher Electricity Fees

Posted on January 7, 2023January 27, 2023 By Caden
Crypto Miners in Kazakhstan Start Paying Higher Electricity Fees

Since the beginning of 2023, cryptocurrency miners operating in Kazakhstan are obliged to pay new fees for the power they need to mint digital coins. A surcharge introduced in 2021 now depends on the price of electricity consumed by bitcoin farms and can be much higher than the original levy. New Year Brings Higher Costs…

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bitcoin farms, Crypto, crypto farms, Cryptocurrencies, Cryptocurrency, FEE, Fees, Kazakhstan, Miners, Mining, mining companies, mining farms, rates, tariff, Tax, Taxes

Bitcoin Hashrate Reaches All-Time High, Boost Could Lead to Record-Setting Difficulty Increase

Posted on January 7, 2023January 27, 2023 By Caden
Bitcoin Hashrate Reaches All-Time High, Boost Could Lead to Record-Setting Difficulty Increase

During the first week of the new year, Bitcoin’s hashrate reached an all-time high (ATH) on Jan. 6, 2023, at block height 770,709. The network recorded a milestone of around 361.20 exahash per second (EH/s) on Friday, jumping more than 4% higher than the previous record of 347.16 EH/s recorded on Nov. 12, 2022. Network’s…

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Ancient Bitcoin Block Rewards See Decrease in Spending After Record Activity in 2020 and 2021

Posted on January 2, 2023January 27, 2023 By Caden
Ancient Bitcoin Block Rewards See Decrease in Spending After Record Activity in 2020 and 2021

In 2021, a number of 2010 block rewards were spent after the bitcoins sat idle for more than a decade. Furthermore, in 2020 and 2021, an early miner from 2010 spent strings of 20 ancient block rewards. In 2022, however, only 17 block rewards from 2010 were spent. Alongside this, on March 10, 2022, an…

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New Mining Bill Permitting Cross-Border Crypto Payments Filed in Russian Parliament

Posted on October 29, 2022January 27, 2023 By Caden
New Mining Bill Permitting Cross-Border Crypto Payments Filed in Russian Parliament

A draft law designed to regulate the mining of digital coins in Russia is also legalizing the use of cryptocurrencies in international settlements. It has been submitted to the Russian parliament after the rejection of an earlier bill which was aiming to allow domestic crypto payments as well. Draft Legislation on Crypto Mining Allows Russian…

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Following BTC’s Price Drop, Bitcoin Miners Benefit From a 2.35% Difficulty Reduction

Posted on June 21, 2022January 27, 2023 By Caden
Following BTC’s Price Drop, Bitcoin Miners Benefit From a 2.35% Difficulty Reduction

During the past week, Bitcoin’s hashrate has dropped a few percentages after reaching 288 exahash per second (EH/s) on June 8, 2022. Bitcoin miners, however, got a break on Wednesday, June 22, as the mining difficulty dropped by 2.35% making it easier for miners to find blocks. The 2.35% drop brings the difficulty down to…

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Iran to Shut Down Crypto Mining Farms Amid Record High Power Demand

Posted on June 21, 2022January 27, 2023 By Caden
Iran to Shut Down Crypto Mining Farms Amid Record High Power Demand

Authorities in Iran plan to unplug licensed crypto mining facilities as electricity consumption in the country is reaching record highs. The mining farms will be cut off from the grid on Wednesday, the Islamic Republic’s Ministry of Energy announced. Legal Crypto Miners in Iran to Halt Operations Again Due to Electricity Shortages Authorized crypto mining…

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