Tag: Mining

Malaysia seizes 45 Bitcoin mining machines tied to $8,000 monthly power theft

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Malaysian authorities have dismantled a bitcoin mining syndicate allegedly involved in large-scale electricity theft in the Hulu Terengganu and Marang districts, police said on Wednesday. The raids, conducted during Op Letrik by Terengganu police in collaboration with Tenaga Nasional Berhad’s Special Engagement Against Losses unit, uncovered 45 illegal Bitcoin (BTC) mining machines across two premises — a residential site in Bukit Perpat and a commercial property in Wakaf Tapai, according to local reporting.  Terengganu police chief Datuk Mohd Khairi Khairuddin said the operation targeted properties believed to have been modified…

Green Bitcoin? Over 52% of Mining Now Uses Sustainable Energy

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The latest Cambridge Centre for Alternative Finance report confirms the United States and Canada dominate global bitcoin mining, collectively controlling over 80% of reported activity. Bitcoin mining is now 52.4% reliant on sustainable energy, with hydropower (23.4%) and wind (15.4%) as leading sources. North America Dominance According to the latest Cambridge Centre for Alternative Finance […] Original

Sustainable Energy Powers Majority of Bitcoin Mining

Key Notes Cambridge study shows that at least 50% of Bitcoin mining is linked to sustainable sources. This change may convince companies like Tesla to accept BTC as a payment form. The findings may influence policy decisions and Tesla’s stance on BTC payments. The University of Cambridge recently published a study revealing that at least half of Bitcoin mining is powered by low-carbon or renewable energy sources. Among the regions surveyed, North America ranks highest for having the lowest carbon emissions associated with Bitcoin mining. The study also noted ongoing…

Bitcoin miner Phoenix Group adds 52 MW of mining capacity in Ethiopia

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Bitcoin mining firm Phoenix Group announced the addition of 52 megawatts (MW) worth of mining capacity to its capabilities in Ethiopia. According to an April 29 announcement, with this latest addition, Phoenix’s Bitcoin mining capacity in Ethiopia reaches 132 MW. The firm’s global capacity now reportedly exceeds 500 MW. Phoenix’s co-founder and CEO, Munaf Ali, said the firm’s strategy relies on “securing prime locations with abundant, low-cost energy.” “Initiatives like our latest expansion in Ethiopia are pivotal steps, not only creating significant value today but also solidifying our position,” he…

Cleanspark Nears Approval for Tennessee Bitcoin Mining Facility

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Mountain City may soon welcome a bitcoin mining operation, as Cleanspark has secured preliminary backing from local planners, contingent upon final evaluations of the site and energy arrangements. Cleanspark’s Bitcoin Mining Facility Proposal Moves Forward in Mountain City The Mountain City Planning Board has expressed early favor toward a bitcoin mining data center proposed by […] Original

Vilonia Rejects Crypto Mining After Backlash

Key Notes The Vilonia Planning Commission rejected crypto mining rigs in its town. The city has a reputation for rejecting crypto mining proposals. Interstate Holdings Blockchain believes that it can solve the issues raised by residents. The Vilonia Planning Commission has announced its decision to reject the proposal to erect crypto mining rigs in the town. This comes after the city’s residents were vocal about their displeasure with the potential impact of the mining farms, such as possible noise disturbances, elevated energy demands, and the general environmental consequences tied to…

Arkansas city rejects crypto mining proposal after community pushback

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The planning commission of Vilonia, Arkansas, unanimously rejected a proposal to establish a cryptocurrency mining facility within the city limits, following strong opposition from residents. According to local reports, the decision came after weeks of community pushback, where citizens voiced concerns over potential noise pollution, increased energy consumption and the overall environmental impact associated with crypto-mining operations. During public meetings, Vilonia residents expressed concern that the mining operation could disrupt the town’s quiet atmosphere and strain local infrastructure. Many pointed to examples from other regions where similar facilities led to…

Coinbase Provides $100 Million Credit Facility to Bitcoin Mining Company Riot Platforms

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Riot Platforms, Inc. (NASDAQ: RIOT) has announced a $100 million credit facility with Coinbase Credit, Inc., a subsidiary of Coinbase Global, Inc. (NASDAQ: COIN). This multiple drawdown term loan facility will be available to Riot over a two-month period following the execution date. The company plans to utilize the proceeds for key strategic initiatives and […] Original