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Having banned the exchanges where cryptocurrencies like Bitcoin are traded, the Chinese government is now cracking down on the plants where such currencies are mined. The Yingjiang Administration Bureau for Industry and Commerce, which enforces enterprises and consumer protection laws, issued a notification to the Bitcoin mining facilities...
A Japanese consortium is to research the use of blockchain technology to determine the price of surplus electricity generated by photovoltaic power generation, and a new system capable of direct trading. Japan Unisys to Build Blockchain Platform to Facilitate Trading of Electricity A partnership between the University of Tokyo,...
Despite worries about cryptocurrency mining — from the impact that it can have on the environment to the potential impact it can have on the rates for other local electricity consumers — the state of New York has approved a bid to provide cheaper electricity to miners. State...
Few countries around the world lend themselves to cryptocurrency mining. Iceland has always been a key region in this regard. Although it was never designed to become a hub for cryptocurrency mining, this new business model has introduced a few changes in the country over the years. It...
If Bitcoin were a country, it would be the 40th largest consumer of electricity in the world. A new research paper has highlighted the growing problem as major cryptocurrencies seek to solve it. Bitcoin’s Energy Crisis Explored According to the figures, the amount of energy used for each...
According to a new study, the Bitcoin network could be consuming as much as 0.5% of the world’s total electricity — a number comparable to the amount of power used by the entire country of Ireland. Bitcoin and Electricity Usage That said, determining exactly how much electricity the...
An Australian power company have signed a contract with a cryptocurrency mining firm to provide them with cheap off-grid power. The IOT Group will be building a digital currency mining hub that’s actually inside a disused coal-fired power station in the Hunter Valley region. Off Grid Power Will...
Cryptocurrency mining will always remain a peculiar industry. A lot of people make good money from it, even though there’s also a degree of centralization involved. The quest for cheap electricity is far from over in this industry, though. It now seems Norway and Sweden are entering that...
The New York State Public Service Commission (PSC) has ruled that upstate power companies can charge bitcoin miners higher electricity rates who may be trying to take advantage of the state’s cheap electricity supply. Power Up Last week, it was reported that Plattsburgh city in upstate New York had...
Energy costs vary so much across the globe that mining can either be super profitable, or a total waste of time. On top of that, the primary energy that is being used, especially when it comes to cheap energy, is dirty. Moreso, there are issues when it comes...
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