Daniel Egorovdirector of the Federal Tax Service of Russia, he said have received around 150 requests from Bitcoin miners wanting to operate in the country. Russia legalized mining earlier this month, the date it started receiving these orders. Before that, the The Central Bank of Russia has recommended that local companies use cryptocurrencies to avoid […]
Tag: Mining
JP Morgan predicts a bleak future for Bitcoin miners
JP Morgan, one of the largest banks in the world, is concerned about the future of Bitcoin miners. This is because the reward was halved after the halving, from 6.25 to 3.125 BTC per block. According to JP Morgan analysts, the average cost of producing 1 bitcoin is around $45,000. At the time of writing, […]
OKX broker abandons its mining pool
a OKX, a famous cryptocurrency broker, announced on Friday (26) that it will exit its mining pool. The service shutdown will happen in two phases, starting today and lasting until February 26. To explain further, the broker will not be accepting new user registrations from next Friday (26th). Already registered users can continue to use […]
Bitcoin breaks new record and Elon Musk responds: “Wow”
Bitcoin’s hash rate, a metric used to measure the computing power of miners, hit a new record high in 2024. In total, estimates indicate that the machines securing Bitcoin generate more than 500 exahashes per second, i.e. 5 billion worth of mathematical calculations. per second. The numbers even impressed Elon Musk, CEO of Tesla, SpaceX […]
Bitcoin miners have shut down machines in Texas due to extreme cold
Although many consider Texas to be an extremely hot region, the US state is recording subzero temperatures this week. For this reason, Bitcoin miners shut down their equipment. The cold is not a problem for miners, on the contrary, it is great for helping to reduce the temperature of the machines. However, local miners have […]
Colombia’s mining sector will contribute $18 billion to the state by 2023
As for the production of strategic minerals for the country, ACM projects that the production by thermal coal and the country’s metallurgical industry will close at about 71.7 million tons in 2023, while that figure would reach 77.3 million tons in 2024. As for coke production, it would end this year at 4 million tons […]
Small miners could be ‘swallowed up’ after Bitcoin’s halving
Bitcoin miner smiles next to machines After block 840,000, the block reward will be halved, from the current 6.25 to just 3,125 bitcoins. While this also affects large mining companies, it is likely that smaller companies will suffer more from this impact. Taking advantage of both Bitcoin’s appreciation and the rise in transaction fees, some […]
BBC says every Bitcoin transaction uses “a pool of water.”
In an article published on Wednesday (29), the BBC states that every Bitcoin transaction uses a pool of water. According to the broadcaster, Bitcoin mining used 1.6 trillion liters of water in 2021. The news is based on a study published by Alex de Vries, an author who stated in 2017 that Bitcoin mining could […]
Twitter founder invests R$30 million in Bitcoin mining project
Jack Dorseyfounder of Twitter, led a $6.2 million (R$30 million) investment round linked to it OCEANa decentralized Bitcoin mining pool project founded by Luke Dashjrfamous BTC developer. In short, the main difference between OCEAN and other pools is that they do not hold the mined bitcoins in custody. In other words, balances are sent to […]
‘Lone’ Miner Makes R$1.23 Million From Bitcoin Alone After Beating Billion-Dollar Industry
A solo miner was responsible for Bitcoin block number 818,588, which was mined last Sunday afternoon (26). As a reward, he received 6.74 bitcoins, approximately 1.23 million in direct conversion. Before him, another solo miner had received a similar reward in late October. By 2023, only 12 blocks have been mined by these miners, who […]