Mining

Bitcoin mining could be great for Texas’s grid — according to Bitcoin miners

Bitcoin mining could be great for Texas’s grid — according to Bitcoin miners

Quick Take As Bitcoin’s China-based hash rate plummets due to shutdown orders from regulators, Texas is emerging as an attractive option for Bitcoin miners. Miners argue that mining is just as good for Texas as Texas is for miners since the unique aspects of the industry’s electricity use can strengthen the state’s power grid. It’s …

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Nuclear-powered bitcoin mining is coming to Ohio in December

Nuclear-powered bitcoin mining is coming to Ohio in December

The nuclear and fossil-fuel based power generator Energy Harbor Corp announced Monday that it has partnered with bitcoin mining hosting provider Standard Power, according to a press release.  The bitcoin mining endeavor will commence in December of 2021. Standard Power will convert an abandoned paper mill in Coshocton, Ohio into a mining facility that uses …

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A timeline of China’s bitcoin mining crackdown and how it goes beyond environmental concerns

A timeline of China’s bitcoin mining crackdown and how it goes beyond environmental concerns

Quick Take China’s crackdown on bitcoin mining has led the network’s hash rate to drop by more than 50%. But what caused the negative approach? Was it just environmental concerns? This timeline maps out how the crackdown developed, while exploring the reasons behind it. This feature story is available to subscribers of The Block Daily. …

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China’s crackdown on bitcoin mining has probably already made the network greener — for now

China’s crackdown on bitcoin mining has probably already made the network greener — for now

Quick Take Xinjiang said to have shut down nearly two gigawatts of coal-based bitcoin miners. Sichuan has also ordered some miners to shut down. The global environmental implications for the bitcoin network depend on where China’s miners decide to move. This feature story is available to subscribers of The Block Daily. You can continue reading …

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MicroStrategy discloses new $50 million bitcoin buy

The Bitcoin Mining Council wants to dispel negative media narratives

Last month, MicroStrategy CEO Michael Saylor teased that he had convened a meeting of North American bitcoin miners to promote renewable energy and transparency. Now, the so-called “Bitcoin Mining Council” (BMC) has held its first meeting, open to the public through Twitter Spaces.   Information about the council first came to light through Tesla CEO Elon …

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Blockstream buys $25 million worth of Bitcoin miners from MicroBT

Bitcoin mining difficulty decreases by 16% from its recent all-time-high

Bitcoin’s mining difficulty saw a notable decrease around Sunday midnight UTC time as the network’s hash rate has dropped significantly even before China’s bitcoin mining crackdown comment. On-chain data shows the network’s mining difficulty adjusted to 21.05 Trillion at block height 685,440, which is a 16% drop compared to its recent all-time-high recorded on May …

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Ether price hits new highs above $2,560, market cap nearing $300 billion

Ethereum mining revenue set for record-breaking month despite price declines

The price of ether, the native cryptocurrency of Ethereum, is significantly down from its all-time high this month, but May is still set to represent a record-breaking month for ETH miners. Data collected by The Block Research shows that as of May 23, ETH miners have hauled in some $1.93 billion in revenue. Of that …

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New York isn’t ready for bitcoin mining, says state lawmaker proposing a three-year moratorium

New York isn’t ready for bitcoin mining, says state lawmaker proposing a three-year moratorium

Quick Take A recent bill to temporarily halt crypto mining centers operating in New York has drawn the ire of the industry.  The bill’s author sat down with The Block to explain her side of the argument.  Critics of the new mining centers point to their use of outdated power plants and creative corporate structuring, …

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Kentucky poised to approve tax, energy incentives for cryptocurrency mining

Greenidge to offset bitcoin mining emissions in carbon neutrality bid

The hybrid bitcoin miner and power plant Greenidge Generation Holdings says it will buy carbon offsets in an effort to become carbon neutral starting June 1. The company also said it will redirect some of its profits into renewable energy initiatives, according to a release published Friday.  The New York-based bitcoin mining firm has joined …

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