On Monday, the Legislative Assembly of El Salvador approved a new metallic mining law, opening the door for gold exploitation in the country. The change, previously hinted at by President Nayib Bukele, was met with criticism from environmental activists, who believe this will negatively affect the country. With New Mining Law, El Salvador Stakes Claim […] Source CryptoX Portal
Russia recently enacted a ban on crypto mining operations in 10 regions until 2031, citing high energy consumption issues as the cause. Deputy Prime Minister Alexander Novak stated that this list might expand. Russia Issues Crypto Mining Restrictions in 10 Regions The future of cryptocurrency mining in Russia is in jeopardy. The Russian cabinet recently […] Source CryptoX Portal
The year 2024 has been filled with major milestones for Bitcoin, from reaching new all-time highs to several governments mulling a Bitcoin reserve. However, data reveals that there are less than 1.19 million BTC left to be mined. Unmined Bitcoin is becoming even more scarce in terms of remaining supply as more of the world begins to warm up to the idea of adopting Bitcoin (BTC) on a wider scale. Data from Clark Moody revealed that there were only 1,198,640.60 BTC left unmined by Dec. 26. Meanwhile, as much as…
Russia’s government has published a draft resolution on banning or providing restrictions on mining locally. The ban will take effect on Jan. 1, 2025, and run until Mar. 15, 2031. According to TASS, the mining ban will take place in Dagestan, Ingushetia, Chechnya, Kabardino-Balkaria and North Ossetia. The ban will include mining and participation in pools. The order has also not been entered into force in Luhansk and Donetsk People’s Republics, as well as some localities of Zaporizhia and Kherson. The same restrictions will also extend to certain sites in…
Last week was marked by bitcoin’s resilience and worries about mining centralization. Fartcoin’s rise to an all-time high added an unexpected layer of humor. This editorial is from last week’s edition of the Week in Review newsletter. Subscribe to the weekly newsletter to get the editorial the second it’s finished. From Mining Centralization Worries to […] Source CryptoX Portal
Halliburton, the world’s second-biggest oilfield services firm, has taken a step into the bitcoin (BTC) mining space by investing in Austin-based startup 360 Energy. The move, made through Halliburton Labs, was highlighted in a report from Blockspace Media. Transforming Stranded Gas into Blockchain Power 360 Energy, also known as 360 Mining, has joined Halliburton Labs’ […] Original
Bitcoin’s recent price surge has driven up mining equipment costs, with Shenzhen’s Huaqiangbei district—a global hub for crypto hardware—seeing a notable 30% price hike. According to a report by Wen Wei Po, the price of the Antminer S21 335T, a mining device, has now reached $5,600, or around RMB 40,700, climbing up by 30% compared to last year’s price of $3836.19, which comes to 28,000 RMB. There is even much higher demand for the Antminer S21 XP, a raw mining device with water-cooling facilities, which has continued to cause stockouts…
According to a report from Blockspace Media, there’s a new entity on the block that has quietly climbed to become the third-largest publicly listed mining firm in terms of hashrate. Stealth Hashrate: Cango’s Surprising Crypto Pivot There’s a publicly listed Chinese car company called Cango that has shifted gears from automotive financing and car trading […] Original
The 2024 bitcoin halving event sparked major changes in the mining scene, according to the latest “State of the Network” report by Coin Metrics and analyst Matías Andrade. Battle for Hashrate Dominance The April 2024 halving, which slashed block rewards from 6.25 BTC to 3.125 BTC, severely impacted miner earnings. Coin Metrics’ new report reveals […] Original
Luxor Technology Corporation has entered into a $131.4 million agreement with bitcoin mining device manufacturer Microbt. Bitcoin Mining Giants Luxor and Microbt Announce Partnership Luxor Technology Corporation‘s deal includes a confirmed purchase of Microbt’s Whatsminer application-specific integrated circuit (ASIC) bitcoin mining rigs worth $93.2 million and an option for an additional $38.2 million. These ASIC […] Original