Tag: Mining

Binance launches Bitcoin mining cloud services amid SEC crackdown in the US

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Crypto exchange Binance announced the launch of new subscription-based could mining products dedicated to Bitcoin (BTC) mining.  Starting June 15, users that are interested in Bitcoin mining but lack the equipment can subscribe to Binance’s cloud mining services and purchase hashrates for the same. Hashrate is the computing power required for confirming and legitimizing Bitcoin transactions over the blockchain. Binance is currently selling 1 Terahash per second (Th/s) at $10.7280, which is split between the hashrate and electricity costs at $1.17 and $9.558 respectively. A higher number of hashrate increases…

Tether to start bitcoin mining in Uruguay; Tradecurve, a DeFi platform, will be available globally

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The issuer of Tether (USDT), the world’s most popular stablecoin, is setting up an operation to mine bitcoin (BTC) in Uruguay. This marks the first significant move by Tether into mining and is part of a larger push to provide broader access to crypto services.  This comes when Tradecurve, a decentralized finance (DeFi) project in its presale phase, announced that its anonymous trading platform would soon be available globally. >>Buy TCRV tokens now<< Tether to start…

Hut 8 Mining mined 147 BTC in May, Bitcoin hash rate slumping

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied In May 2023, Hut 8 Mining, a crypto miner based in Toronto, Canada, and one of North America’s largest publicly traded mining firms, mined 147 bitcoin (BTC). This news comes when the Bitcoin hash rate is falling. Hut 8 Mining mined 147 bitcoin in May In a recent report, the crypto miner and Bitcoin infrastructure provider said the 147 BTC mined translated to around 4.7 BTC mined every day.  While they received 147 BTC as block rewards and…

Texas legislature passes new bitcoin mining laws

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The 88th session of the Texas Legislature has passed a series of bills set to influence the state’s bitcoin mining industry. In the recent 88th legislative session, Texas lawmakers have made strides in legislation impacting local bitcoin miners. Several bills have passed which are set to make the state increasingly appealing to the crypto-mining industry. Lee Bratcher, president of the Texas Blockchain Council, envisions Texas becoming a major hub for digital assets, comparing it to the…

Exploring the Increasing Interest in Cryptocurrency Mining Alternatives

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In the past, cryptocurrency mining has depended on the power-hungry Proof-of-Work (PoW) consensus process. Alternative mining techniques, on the other hand, that offer scalability, energy efficiency, and minimal environmental impact, have recently attracted more attention. Proof-of-Stake (PoS) and Proof-of-Authority (PoA) are two well-known alternatives that are gaining popularity. The potential for various mining options to disrupt the bitcoin ecosystem is examined in this article along with their distinctive features. Readers can get comprehension of the advantages and factors of PoS and PoA and learn more about the developing field of…

El Salvador and Tether work together to create ‘Volcano Energy’ bitcoin mining center

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied El Salvador is embarking on an initiative to establish a renewable energy power generation park in the Metapán area, aiming to become a center in the global bitcoin mining industry. Tether has announced its participation as an equity investor and advisor, highlighting the significance of this renewable energy project. El Salvador aiming to transform bitcoin mining El Salvador is capitalizing on its abundant natural resources to launch a revolutionary endeavor called “Volcano Energy.” In a press…

Is Biden’s controversial Bitcoin mining tax dead or set to rise from the ashes?

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Bitcoin (BTC) miners in the United States can breathe a sigh of relief after a proposed tax on crypto mining did not make it into a bill to raise the U.S. debt ceiling that appears set to pass. The Digital Assets Mining Energy (DAME) excise tax proposal sought to charge crypto miners a tax equal to 10% of the cost of the electricity they used for mining in 2024, before scaling up to 30% in 2026. The tax was highly controversial, with critics arguing that it had the potential to…

Evertas expands crypto insurance offerings to include mining and raises limits

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Evertas, an insurance company focused on digital assets, recently announced an increase in coverage limits and the addition of mining operations to its coverage portfolio. The insurer’s per-policy coverage limits on custodial crypto assets will increase to $420 million, “nearly tripling the amount of risk transfer previously available to blockchain focused projects,” according to an announcement. It’s also adding coverage for mining operations in the amount of up to $200 million per policy. According to Evertas, these are the highest coverage limits available. Related: Turns out, it’s pretty difficult to insure…