Tag: Mining

Arkansas embraces bitcoin mining regulation

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Arkansas has recently passed the Arkansas Data Centers Act of 2023, a bill to regulate bitcoin (BTC) mining within the state.  The legislation, now awaiting the governor’s approval, aims to create guidelines for miners, protect them from discriminatory regulations and taxes, and acknowledge the positive economic impact of data centers on local communities.  The move follows a similar initiative in Montana and contrasts sharply with New York’s recent crypto-mining ban. The Arkansas Data Centers Act of…

The Bitcoin mining boom is quietly going parabolic

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Bitcoin (BTC) may be struggling at $30,000, but under the hood, all-time highs of a different kind keep coming. The latest data shows that Bitcoin network fundamentals — difficulty and hash rate — will hit new records this week. Bitcoin mining difficulty, hash rate refuse to slow down Bitcoin’s 2023 recovery has been about more than just BTC price action, with miners seeing a significant turnaround of their own. As BTC/USD added 70% in Q1 alone, pressured mining participants saw some much-needed relief after the bear market squeezed profit margins…

Intel discontinues its first-gen Blockscale ASICs for bitcoin mining

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Intel has declared the end of its first-generation Blockscale 1000-series ASICs for bitcoin (BTC) mining just one year after its official launch.  The company has yet to make any plans for different chip generations public.  According to Tomshardware, Intel, an American top technology company that manufactures semiconductor chips, has stated that it will stop producing its Blockscale 1000-series ASICs for bitcoin mining a year after their official launch. The company has claimed that it will continue…

Environmental Impact of AI Models Takes Center Stage Amid Criticism Against Bitcoin Mining – Featured Bitcoin News

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While bitcoin’s effect on the environment has been discussed at length over the last two years, the latest trend of artificial intelligence (AI) software is now being criticized for its carbon footprint. According to several headlines and academic papers this year, AI consumes significant electricity and leverages copious amounts of water to cool data centers. Reports Insist AI and Chatgpt Consumes a Ton of Electricity and Water In recent times, environmentalists have aimed their targets at various technologies, and during the last 24 months, a great deal of focus has…

Bitcoin mining and increasing energy bills — Sen. Warren vs. Crypto Twitter

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United States Senator Elizabeth Warren blamed the Bitcoin (BTC) mining industry for rising energy prices in American households based on unverified mainstream reporting. However, Crypto Twitter was not ready to let it slide and unanimously decided to clarify the disinformation.  While Senator Warren has prominently spoken against the crypto ecosystem, the latest dig at Bitcoin mining comes based on a New York Times article. The report accuses Bitcoin miners of cashing in on electricity and indirectly forcing the public to pay the price. The narrative fit Warren’s perception of the…

Police in Kosovo Seize Crypto Mining Rigs From Serbs – Mining Bitcoin News

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Kosovo police have seized dozens of crypto mining devices from residents of a majority Serb region in the north of the country. Authorities in Pristina and Belgrade exchanged accusations over the move, which has the potential to raise tensions in the ethnically divided, partially recognized Balkan state. Kosovo Government Cracks Down on Crypto Mining in Mainly Serb North Law enforcement in Kosovo has carried out raids against cryptocurrency mining in a northern municipality where Serbs form the majority of the population, the Turkish Anadolu Agency reported, quoting a member of…

China Fines Bitmain $3.6 Million for Tax Violations, Report – Mining Bitcoin News

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Chinese authorities have fined leading crypto mining hardware manufacturer Bitmain for tax-related violations, local media reported. The penalty comes amid increasing tax checks in the digital asset sector, according to information from the crypto community. Bitmain Fined for Failing to Pay Income Tax on Behalf of Employees One of the world’s largest producers of devices designed for cryptocurrency mining, Bitmain, has reportedly been fined for unpaid taxes. The news was spread on social media by Chinese crypto journalist Colin Wu, also known by his Twitter handle ‘Wu Blockchain.’ Bitmain, the…