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Bitcoin Miner Bitdeer Seeks $100 Million for Mining Capacity Expansion

Bitcoin Miner Bitdeer Seeks 0 Million for Mining Capacity ExpansionBitcoin miner Bitdeer is reportedly in discussions with private credit firms to secure $100 million in funding to expand its mining capacity. It is believed that the cryptocurrency miner has engaged a financial adviser to assist with the negotiations. Negotiations Between Bitdeer and Lenders Continue The cryptocurrency mining firm Bitdeer Technologies Group is reportedly seeking […]

SWIFT Plans to Launch CBDC Interconnection System in Next Two Years

U.S. Department of Energy Agrees To Stop Gathering Information on Crypto Mining Following Lawsuit

U.S. Department of Energy Agrees To Stop Gathering Information on Crypto Mining Following Lawsuit

The U.S. Department of Energy (DOE) is agreeing to stop gathering data about the energy usage rates of crypto mining firms. In a new court filing, the Energy Information Administration (EIA), which tracks statistics for the DOE, says it will not only halt gathering the data, it will destroy all information it has already collected […]

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SWIFT Plans to Launch CBDC Interconnection System in Next Two Years

Texas Blockchain Council and Riot Secure Legal Victory in Bitcoin Mining Data Collection Lawsuit

Texas Blockchain Council and Riot Secure Legal Victory in Bitcoin Mining Data Collection LawsuitIn a landmark ruling, the Texas Blockchain Council (TBC) and Riot Platforms Inc. have triumphed in their lawsuit against the Biden administration, successfully halting the data collection efforts on bitcoin mining operations. TBC and Riot Platforms Win Case Against Bitcoin Mining Data Survey The United States District Court for the Western District of Texas has […]

SWIFT Plans to Launch CBDC Interconnection System in Next Two Years

U.S. DOE Halts Survey of Crypto Mining Energy Use After Lawsuit From Riot and Texas Blockchain Council: Report

U.S. DOE Halts Survey of Crypto Mining Energy Use After Lawsuit From Riot and Texas Blockchain Council: Report

The U.S. Department of Energy (DOE) is reportedly stopping its survey on crypto mining energy use after being sued by two firms in the industry. According to a new report by Reuters, the DOE has agreed to temporarily halt its probe of how much energy is used for crypto mining after Bitcoin (BTC) mining firm […]

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SWIFT Plans to Launch CBDC Interconnection System in Next Two Years

Legal Action Forces US Energy Department to Suspend Crypto Mining Investigation

Legal Action Forces US Energy Department to Suspend Crypto Mining InvestigationFollowing legal action initiated by Riot Platforms and the Texas Blockchain Council against the U.S. Department of Energy (DOE), the department’s statistical branch, the Energy Information Administration (EIA), has put a temporary hold on its bitcoin mining survey and quarantined the data gathered to date. DOE Puts Bitcoin Mining Inquiry on Hold Amid Legal Challenges […]

SWIFT Plans to Launch CBDC Interconnection System in Next Two Years

Riot and Texas Blockchain Council Challenge US Government’s Bitcoin Mining Data Request in Court

Riot and Texas Blockchain Council Challenge US Government’s Bitcoin Mining Data Request in CourtThe publicly listed mining firm Riot Platforms and the Texas Blockchain Council have initiated legal proceedings against the U.S. Department of Energy (DOE) and other federal entities, aiming to obstruct what they deem an unauthorized data collection effort targeting the bitcoin mining industry. The legal battle underscores the escalating tension between bitcoin mining operations and […]

SWIFT Plans to Launch CBDC Interconnection System in Next Two Years

US Government Announces New Probe Into Cryptocurrency Mining Operations in the United States

US Government Announces New Probe Into Cryptocurrency Mining Operations in the United States

The U.S. Energy Information Administration (EIA) is announcing that it will be carefully examining crypto mining operations in the country. In a recent press release, the EIA, a statistical and analytical agency within the U.S. Department of Energy, says that it wants to keep track of how much electricity is being used by US firms […]

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SWIFT Plans to Launch CBDC Interconnection System in Next Two Years

Tether Now Holding at Least $2,821,269,600 in Bitcoin As BTC Accumulation Spree Continues, Says Quant Analyst

Tether Now Holding at Least ,821,269,600 in Bitcoin As BTC Accumulation Spree Continues, Says Quant Analyst

Stablecoin issuer Tether (USDT) is now holding at least $2.82 billion of Bitcoin (BTC) as the firm continues to scoop up the crypto king at a high rate. According to Ki Young Ju, the founder and chief executive of on-chain market intelligence platform CryptoQuant, Tether is currently holding at least 66,400 BTC. “Tether revealed in […]

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SWIFT Plans to Launch CBDC Interconnection System in Next Two Years

Dropbox ditches unlimited storage offering, blaming crypto cloud miners

The storage platform turned to metered storage after discovering its Advanced plan was being used by some for crypto mining and other resource-intensive tasks.

The online storage platform Dropbox has binned its unlimited storage plan after discovering some of its users were using the service for resource-intensive purposes like mining crypto.

In an Aug. 24 blog post, Dropbox said its unlimited Advanced plan has instead moved to a metered storage plan with new users getting 15 terabytes of storage — apparently enough to house 100 million documents.

It added it knew its “all the space you need” plan would result in uneven usage levels but in recent months it had seen a surge in some users consuming “thousands of times more storage than our genuine business customers.”

“A growing number of customers were buying Advanced subscriptions not to run a business or organization, but instead for purposes like crypto and Chia mining.”

Dropbox said other high-resource uses included some reselling its storage or multiple individuals pooling storage for personal use.

Screenshot of previous plan showing storage as "As much space as needed." Source: CBackup

Dropbox cited the increased unintended usage growth following “other services making similar policy changes.” Microsoft and Google have also scrapped their unlimited storage plans in recent months.

The company said it understands the move is “disappointing” but added it would be unsustainable and difficult to enforce a list of unacceptable use cases.

Related: The future of BTC mining and the Bitcoin halving

In the past, hackers have used cryptojacking malware that’s inserted into a victim's internet-connected device or cloud-storage account.

The malicious program uses the resources of the device or cloud service to create a virtual machine that mines cryptocurrencies.

In 2021, Google said some attackers targeting its storage platform users could compromise an account and install mining software within 22 seconds.

Magazine: Hall of Flame: Crypto Banter’s Ran Neuner says Ripple is ‘despicable,’ tips hat to ZachXBT

SWIFT Plans to Launch CBDC Interconnection System in Next Two Years

Man Faces Life Sentence After China Accuses Him of Running Secret Crypto Mining Activities, Bribery: Report

Man Faces Life Sentence After China Accuses Him of Running Secret Crypto Mining Activities, Bribery: Report

A Chinese man will reportedly spend the rest of his life in prison after being caught hiding illicit crypto mining activities and accepting bribes. According to a new report by the South China Morning Post, former senior provincial official Xiao Yi has been handed a life sentence for providing support for local crypto mining businesses. […]

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SWIFT Plans to Launch CBDC Interconnection System in Next Two Years