BIT Mining steps up Bitcoin mining operations in Kazakhstan

Crypto mining firm BIT Mining, which recently announced it would be expanding out of the Chinese market, plans to purchase 2,500 Bitcoin miners for deployment in Kazakhstan. In a Wednesday announcement, BIT Mining said it had entered a $6.6 million agreement to buy 2,500 Bitcoin (BTC) mining rigs. The firm has already put 3,819 BTC miners into operation at data centers in Kazakhstan, with another 4,033 machines on the way. Once all are deployed, the addition of the recent mining purchase is expected to increase BIT Mining’s hash rate capacity to…

Law professor calls for crypto mining regulation during US Senate hearing

Tuesday’s crypto hearing before the United States Senate Committee on Banking, Housing and Urban Affairs also included a call for stricter regulations on cryptocurrency miners. Addressing the committee, professor Angela Walch claimed that miners held “meaningful power” over the way blockchain networks operate. According to Walch, miners can exploit their role of transaction ordering, which could become a “major issue” for cryptocurrencies, as reported by Law360. In stressing the point, professor Walch likened the miner extractable value paradigm — where miners earn more profits from ordering transactions in a certain…

US-based Bitcoin Mining Firm Stronghold Files for $100 Million IPO

In the IPO filing, Stronghold noted that with the fundraising, it will purchase an additional 27,300 crypto miners to expand its operations and increase its hash rate. Amid the recent crackdown by China on Bitcoin miners, the US is emerging as the next big market. Stronghold Digital Mining, the Pennsylvania-based Bitcoin miner is now willing to raise $100 million through an initial public offering (IPO). The company filed its S1-form on Tuesday, July 27, with the US Securities and Exchange Commission (SEC). Under the ticker of SDIG, the firm is…

Iran Raises Alarm Over Potential Influx of Miners From China – Mining Bitcoin News

With the government in Beijing cracking down on their operations, Chinese miners have been on the lookout for other jurisdictions. Providing low-cost energy, Iran has emerged as a prospective destination. However, the country’s state-owned power utility has expressed concerns over a possible influx of miners and illegal imports of mining hardware from China. Tavanir Warns About Flood of Chinese Miners and Equipment Into Iran The Iran Power Generation, Distribution and Transmission Company, Tavanir, has issued a warning regarding the entry of Chinese cryptocurrency miners into Iran amid China’s ongoing crackdown…

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Bitcoin Mining Difficulty Parameter Set to Increase for the First Time in 8 Weeks – Mining Bitcoin News

Bitcoin’s hashrate has slowly crept back up between 85 exahash per second (EH/s) to 125 EH/s on July 14. The increase in hashpower has made it so the next mining difficulty change will increase for the first time in eight weeks. The four consecutive difficulty drops turned out to be the largest slide in Bitcoin’s lifetime, and that’s seemingly coming to an end in four days. Bitcoin’s Hashrate Moves Northbound The price of bitcoin (BTC) dropped for a few consecutive weeks, and during the same time frame, China’s crackdown on…

Crypto and Mining Tax in Malaysia? (RM 40,000 Profits)

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Crypto and Mining Tax in Malaysia? RM 40,000 Profits Eh you got pay tax ah? Kena bayar tak x? LHDN memerhati bro This is probably the most common question after “can I buy ah?” This video should be able to update you on the latest crypto and mining tax arrangement in Malaysia so far 🙂 Hope this helps! Sources: (1) Badges of Trade: (2) LHDN Guidelines on Taxation of Electronic Commerce Transactions: (3) Latest News: a) b) c) Follow me! Instagram: —————————————————————————…

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Bitmain to Host Miners in 180-Megawatt Data Center in Kazakhstan – Mining Bitcoin News

Crypto mining hardware manufacturer Bitmain has partnered with Enegix to host Antminer S19 Pro devices in one of the world’s largest data centers. The facility located in Kazakhstan is designed to accommodate more than 50,000 mining rigs. Bitmain to Work With Mining Facility Operator Enegix Leading mining equipment producer Bitmain has announced a partnership with Enegix. As part of the agreement, the ASIC giant will host Antminer S19 Pro miners in a 180MW facility operated by Enegix in Kazakhstan, which is one of the largest in the world. Enegix focuses…