crypto miners

Malaysia Loses Over $700 Million Worth of Electricity to Illegal Crypto Miners, Says Minister

July 11, 2024 Bitcoin.com

bitcoin.com

According to a government minister, Malaysia lost $727 million worth of electricity stolen by illegal crypto miners between 2018 and 2023. The minister also warned that power companies have methods to detect unauthorized mining activity. Illegal Crypto Mining Detrimental To Malaysians Says Minister Between 2018 and 2023, the theft of electricity by illegal cryptocurrency miners […]

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US crypto stocks rally on first trading day after Bitcoin halving

April 23, 2024 Coin Telegraph

Bitcoin Halving

U.S. crypto mining stocks have gained in the first trading day after Bitcoin’s weekend halving, even though mining rewards are now 50% lower.

United States crypto-related stocks posted gains on Monday alongside a broader market upturn just days after the Bitcoin (BTC) halving — with some notching double-digit percentage gains.

The country’s five largest public-traded Bitcoin miners by market capitalization, Marathon Digital (MARA), CleanSpark (CLSK), Riot Platforms (RIOT) Cipher Mining (CIFR), and Hut 8 (HUT) all gained over the April 22 trading day and have continued to gain in after-hours trading, per Google Finance.

Stronghold Digital Mining (SDIG) was the day’s biggest crypto-related gainer with a 35.3% bump to $3.64, extending 4% after-hours to nearly $3.80.

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Iran Shuts Down Over 8,000 Illegal Crypto Mining Farms in 3 Years

May 10, 2023 Bitcoin.com

$POWER

Authorities in Iran have closed down more than 8,000 underground facilities for cryptocurrency mining in the past three years, local media reported. Despite the government’s crackdown, illegal crypto mining continues to account for a serious amount of energy consumption, official figures suggest. Illegal Crypto Miners in Iran Steal 1.8 Billion kWh of Electricity, Official Says […]

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Russia May Take Up 18% of Bitcoin Hashrate in Next Big Migration of Crypto Miners, Experts Say

May 8, 2023 Bitcoin.com

Bitcoin

Increasing regulatory pressures, tax burden and energy costs in countries like the U.S. and Kazakhstan are likely to result in a new great migration of crypto miners, Russian analysts believe. Under such a scenario, Russia has what it takes to occupy up to 18% of the global bitcoin hashrate, they claim. Russia May Attract Half […]

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Crypto Miners Pay Kazakhstan $7 Million in Taxes Amid Uncertain Future for Sector

May 5, 2023 Bitcoin.com

Bitcoin

The government of Kazakhstan has collected over $7 million in taxes this and last year from enterprises mining cryptocurrency in the country. The news comes amid growing regulatory pressure that is limiting the industry’s access to low-cost energy while increasing its tax burden. Miners Face Higher Expenses, More Challenges Under New Legislation Kazakhstan’s coffers have […]

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Police in Kosovo Seize Crypto Mining Rigs From Serbs

April 16, 2023 Bitcoin.com

bills

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 […]

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Russia Takes Second Place Rank by Power Capacity in Crypto Mining, Reports

April 9, 2023 Bitcoin.com

$POWER

Russia is now ranking second in terms of energy capacities engaged in the extraction of cryptocurrencies, new data suggests. Despite persisting regulatory uncertainty and the negative effects of sanctions, the amount of power devoted to the sector has been growing, reaching record highs this year. 1 GW of Electrical Power Involved in Crypto Mining in […]

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Several Crypto Mining Operations Busted in Russia

March 19, 2023 Bitcoin.com

$POWER

Authorities and power utilities in various Russian regions have shut down illegal crypto mining farms, seizing hardware and taking operators to court. The action against the coin minting facilities comes amid discussions on a proposal to introduce criminal liability for miners breaking the upcoming legislation for the industry. ‘Underground’ Crypto Mining Farms Shut Down Across […]

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Russian Crypto Industry Queries Government About Proposed Criminal Liability for Miners

March 18, 2023 Bitcoin.com

amendments

The organization representing Russia’s crypto sector has asked the government in Moscow to clarify a proposal to introduce criminal liability for “gray” miners. The draft legislation seeks to punish those who fail to report their income to the state and share information about their digital assets. Crypto Companies in Russia Want to Take Part in […]

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Revised Bill Suggests Prison Time for Russian Crypto Miners Evading Taxation

March 12, 2023 Bitcoin.com

bill

A draft law designed to regulate crypto mining in Russia introduces harsh penalties for miners failing to report digital assets to the state. In its latest revision, the bill also threatens to punish those who organize illegal trading of cryptocurrencies with imprisonment and hefty fines. Forced Labor Awaits Miners and Traders Who Operate Outside Law, […]

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