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Expert Insight: Cryptocurrency Mining Accounts for Nearly 1% of Russia’s Energy Resources

Expert Insight: Cryptocurrency Mining Accounts for Nearly 1% of Russia’s Energy ResourcesAlexey Zhikharev, director of the Renewable Energy Development Association (REDA), revealed that cryptocurrency mining accounts for almost 1% of Russia’s energy consumption. He stated that as the industry grows, miners will increasingly employ renewable energy sources. Russia’s Cryptocurrency Mining Energy Expenditure Nears 1% of the Nation’s Total The growth in Russia’s cryptocurrency mining industry energy […]

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Microsoft breakthrough signals quantum-exclusive future for blockchain mining

The new hardware could ultimately host a theoretical algorithm with the potential to transform proof-of-work.

Microsoft and Atom Computing, a technology firm based in California, recently announced a breakthrough in quantum computing that could pave the way for a proof-of-work transformation in the world of blockchain mining. 

Scientists and engineers from the two companies developed a quantum computing system made up of 24 entangled logical qubits produced by just 80 physical qubits — a feat that sets a new record for the highest number of entangled logical qubits achieved using error correction techniques.

The significance of this scientific breakthrough is in the teams’ achieved efficiency. Previous estimates have indicated that it could take thousands of physical qubits working in tandem to produce a single logical qubit.

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Bitcoin Hashrate Inches Closer to Record as Difficulty Rise Looms

Bitcoin Hashrate Inches Closer to Record as Difficulty Rise LoomsBitcoin’s hashrate has been climbing steadily, closing in on its peak of 693 exahash per second (EH/s) recorded on Sept. 8. At present, it’s cruising just shy of that record, clocking in at 680 EH/s. Block times have been quicker than the typical ten-minute average, and as we approach Oct. 9, the network’s difficulty is […]

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Bitdeer Completes Testing of SEAL02 Bitcoin Mining Chip

Bitdeer Completes Testing of SEAL02 Bitcoin Mining ChipBitdeer Technologies Group has successfully completed prototype testing for its SEAL02 bitcoin mining chip, marking a pivotal advancement in the company’s technological development. The chip exhibited a power efficiency ratio of 13.5 joules per terahash (J/T) when operated in low-voltage mode, a key achievement in Bitdeer’s roadmap. Bitdeer’s SEAL02 Chip Achieves 13.5 J/T Efficiency in […]

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Former Monero Developer Launches New Crypto Mining App

Former Monero Developer Launches New Crypto Mining AppRiccardo “Fluffypony” Spagni, a former Monero developer, has launched a new mining app called Tari Universe. The app aims to make mining accessible to everyone using a user-friendly interface. However, Spagni faces legal troubles related to fraud and forgery charges. Despite the alleged crimes occurring over a decade ago, South African authorities only took action […]

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Hashpower Evolution: Bitmain’s New ASIC Packs 477,677% More Power than the 2013 S1

Hashpower Evolution: Bitmain’s New ASIC Packs 477,677% More Power than the 2013 S1This week, Bitmain introduced its latest bitcoin mining machine, which packs an impressive punch with a reported output of 860 terahash per second (TH/s). To put that in perspective, this new rig churns out 81.81% more hashpower than its predecessor, the Antminer S21 XP Hydro. And if we go way back, it’s a mind-blowing 477,677% […]

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Russia Advances Cryptocurrency Mining Bill

Russia Advances Cryptocurrency Mining BillRussia’s State Duma has advanced a bill to regulate cryptocurrency mining, aiming to curb illegal activities and promote investment and employment. Proposed by the chairman of the Duma Committee on Financial Markets and supported by key deputies, the bill mandates strict guidelines for miners, including registration and government oversight. If passed, the law will take […]

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Paraguayan Senate Passes Law Imposing up to 10 Years of Jail Time on Crypto Miners for Electricity Theft

Paraguayan Senate Passes Law Imposing up to 10 Years of Jail Time on Crypto Miners for Electricity TheftThe Paraguayan senate has passed a series of reforms that changed penalties for energy and cryptocurrency mining-related energy theft. Now, individuals and companies found to be stealing energy for cryptocurrency mining activities will face jail time for up to 10 years, while energy theft for other purposes will face penalties for up to three years. […]

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Corruption in Paraguay: Senator States Illegal Bitcoin Mining Farms Pay up to $500,000 to Operate Underground

Corruption in Paraguay: Senator States Illegal Bitcoin Mining Farms Pay up to 0,000 to Operate UndergroundSalyn Buzarquis, a Paraguayan senator, blasted the National Power Administration of Paraguay (ANDE), stating that high-ranking officials charged illegal bitcoin mining farms for operating underground. Buzarquis stated these unnamed officials collected up to $500,000 in bribes monthly and called for the resignation or interrogation of ANDE’s President Felix Sosa on this matter. Senator States National […]

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Marathon Digital Reports Increase in Hashrate, Holds 18,536 BTC

Marathon Digital Reports Increase in Hashrate, Holds 18,536 BTCMarathon Digital Holdings, Inc. released its unaudited bitcoin production and miner installation updates for June 2024. The company’s operational hashrate increased slightly, and its bitcoin holdings reached 18,536 BTC. Marathon Digital Reports June 2024 Bitcoin Production In June 2024, Marathon‘s (Nasdaq: MARA) average operational hashrate grew by 2% month-over-month to 26.3 exahash per second (EH/s). […]

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