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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...
An Icelandic national who escaped from jail at end of last week for his involvement in a cryptocurrency mining heist has been arrested in Amsterdam, according to reports. Sindri Thor Stefansson, originally arrested in February, is one of 11 men wanted in connection with the theft of 600...
The man who escaped custody in Iceland and got on a passenger plane that was carrying the country’s prime minister says he ‘will be back soon.’ Sindri Thor Stefansson was being detained for his suspected role as the mastermind behind the February theft of 600 cryptocurrency mining rigs,...
The man allegedly behind February’s bitcoin mining rig robbery in Iceland has escaped custody. He is reported to have fled the country on a plane alongside the Prime Minister of the nation. Suspect Boarded a Plane to Sweden With Iceland’s PM Reports suggest that Sindri Thor Stefansson fled...
Eleven individuals have been arrested in Iceland over the theft of 600 Bitcoin mining rigs. The thefts occurred in December and January. Authorities are labelling the incident the largest organised robbery in the history of the small island nation. Mining Rigs Don’t Require Reselling for Criminals to Profit...
Mining Bitcoin can be a lucrative venture under the right circumstances. With access to sufficient hardware, the mining process becomes a lot easier. Additionally, operators need cheap electricity to keep operational costs low. In Iceland, it seems the demand for electricity is on the rise thanks to Bitcoin...
Iceland may soon turn favorable for Bitcoin and blockchain startups as the Pirate Party is expected to partner with other political parties to form the country’s government. The party has received an invitation from the country’s president to be part of the power-sharing pact following the recent elections....
Iceland’s Pirate Party was the subject of several news bulletins regarding its run in last Saturday’s elections. Granted the party achieved major success, members of the group would make up nearly a third of the parliamentary seats. The elections have come and gone, and while many consider the...
The Pirate Party in Iceland is not a team of seafarers with parrots on their shoulders scouring for treasure, but rather a radical political unit poised to take power in Iceland. The group was founded about four years ago by a team of alleged hackers and activists; it...
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