CRYPTOCURRENCY MINING
Nscale hires Meta’s Justin Osofsky to be COO ahead of IPO
The new COO, Justin Osofksy, worked at Meta for 18 years in various executive roles and was most recently its chief partnerships officer.
Bitcoin miner and AI firm Ionic Digital files for Nasdaq direct listing
The company was formed in January 2024 to acquire the cryptocurrency mining assets of Celsius Mining, a subsidiary of Celsius, which received U.S. bankruptcy court approval for a restructuring in November 2023.
Turkmenistan passes law regulating cryptocurrency mining and exchanges
Turkmenistan has approved a new law to legalise and regulate digital assets, including licensing for crypto exchanges and mining firms. Taking effect on January 1, the policy aims to attract investment and support economic diversification. The rules define how virtual assets can be created, used, and circulated, following regional moves like Kyrgyzstan’s stablecoin launch.
Norway plans temporary ban on power-intensive cryptocurrency mining
Norway plans a temporary ban on new crypto mining data centres using power-intensive tech to conserve electricity for other industries. The government cites high energy use, low job creation, and aims to implement the ban by autumn 2025.
Kuwait cracks down on cryptocurrency mining amid power crisis
Kuwait has launched a crackdown on cryptocurrency miners it accuses of being a "major" cause of a power crisis that has led to blackouts, as authorities seek to ease pressure on the grid before the start of a sweltering summer.
Kuwait cracks down on cryptocurrency mining amid power crisis
Crypto mining activities "constitute an unlawful exploitation of electrical power ... and may cause outages affecting residential, commercial and service areas, posing a direct threat to public safety", the ministry said. Kuwait has banned cryptocurrency trading but has no laws specifically addressing mining.
Crypto exchange platform BestChange in the dark over Russia block
Circulating and advertising digital currencies is banned in Russia, although using cryptocurrency for international payments is now legal, as is cryptocurrency mining. BestChange said new regulations around crypto could be behind the ban, or an issue with an entity using its service.
Russia restricts cryptocurrency mining in low-energy regions
Russia has banned cryptocurrency mining in several Siberian regions and annexed areas of Ukraine to prevent winter power shortages. The ban targets areas near Lake Baikal, known for low-cost hydropower, and aims to alleviate strain on energy grids. Cryptocurrency mining in Russia consumes an estimated 1.5% of the country's electricity, posing challenges in regions with harsh climates.
In Russia, some crypto miners go underground - literally
Dagestan's local authorities are calling for stricter measures against cryptocurrency miners who are causing electricity outages by building underground mining installations. A recent substation fire in the capital, attributed to crypto miners, has heightened concerns. New legislation on cryptocurrency mining will come into effect from November 1, 2024.
Microsoft bans crypto mining to protect its cloud service customers
Microsoft has banned cryptocurrency mining from its online services to protect all of its cloud customers, media reports said.
Kosovo seizes hundreds of cryptocurrency mining devices
Tensions between the Serb-majority area and the ethnic Albanian majority government are running high and Kosovo's government on Tuesday brought in a temporary ban on cryptocurrency mining in an effort to bring down electricity consumption.
Hackers are using Cloud accounts for crypto mining, Google issues warning
Google reported that 50 recent hacks of its cloud service were used to practice crypto mining.
El Salvador sees greener cryptocurrency mining in its future
Energy-intensive cryptocurrency "mining" is done by computers, and has come under criticism from environmentalists as a big source of demand for mostly fossil fuel derived electricity.
China proposes adding cryptocurrency mining to 'negative list' of industries
The "negative list" details sectors and industries that are off-limits to both Chinese and foreign investors.
Anhui becomes latest Chinese province to root out cryptocurrency mining
Anhui will shut down all cryptomining projects in a cleanup aimed at reducing power consumption, as the province faces a "grave" supply shortage of electricity, according a news portal operated by state-owned Hefei Media Group.
China's ban forces some Bitcoin miners to flee overseas, others sell out
"Many miners are exiting the business to comply with government policies," said Mike Huang, operator of a cryptomining farm in the southwest province of Sichuan.
China's Bitmain suspends sales of cryptomining machines after Beijing's mining ban
Bitmain also said it is looking for "quality" power supplies overseas along with its clients, in places including the United States, Canada, Australia, Russia, Kazakhstan and Indonesia.
China's cryptocurrency-mining crackdown spreads to Sichuan
Cryptomining is big business in China, accounting for more than half of global bitcoin production.
China's cryptocurrency-mining crackdown spreads to Yunnan in southwest
In addition to concerns about the huge amounts of energy needed for the computing power to create cryptocurrencies, the central government is also concerned about speculation after a surge in the price of bitcoin.
Load More
