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Police in Kosovo Seize Crypto Mining Rigs From Serbs

Police in Kosovo Seize Crypto Mining Rigs From SerbsKosovo 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 […]

The Graph introduces GRC-20 standard for Web3 data structure

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

Russia Takes Second Place Rank by Power Capacity in Crypto Mining, ReportsRussia 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 […]

The Graph introduces GRC-20 standard for Web3 data structure

Several Crypto Mining Operations Busted in Russia

Several Crypto Mining Operations Busted in RussiaAuthorities 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 […]

The Graph introduces GRC-20 standard for Web3 data structure

Biden Budget Proposal Targets Crypto Investors Using Like-Kind Exchange Provision; Plan Aims to Tax Crypto Miners 30%

Biden Budget Proposal Targets Crypto Investors Using Like-Kind Exchange Provision; Plan Aims to Tax Crypto Miners 30%On Thursday, the Biden administration released the U.S. president’s 182-page budget proposal for the fiscal year 2024, which aims to “grow the economy from the bottom up and middle out.” The budget includes an $835 billion increase in military spending, but the administration claims it will reduce the deficit by $3 trillion over the next […]

The Graph introduces GRC-20 standard for Web3 data structure

At Least 1,000 Lawsuits Filed Against Crypto Miners in Russia’s Irkutsk Region

At Least 1,000 Lawsuits Filed Against Crypto Miners in Russia’s Irkutsk RegionAuthorities in the Russian region of Irkutsk have so far filed 1,000 lawsuits against what they call “gray” miners, or people minting coins in their homes. In over half of these cases, courts have ordered the defendants to compensate the operators of the distribution networks. Hundreds of Crypto Miners Sued in Irkutsk for Extracting Digital […]

The Graph introduces GRC-20 standard for Web3 data structure

Daily Raids on Crypto Farms as Abkhazia Intensifies Mining Crackdown

Daily Raids on Crypto Farms as Abkhazia Intensifies Mining CrackdownAuthorities in Abkhazia are stepping up efforts to clamp down on cryptocurrency mining amid electricity shortages in the winter months. The government of the breakaway Georgian region announced it’s also taking measures to prevent imports of mining equipment. Abkhazia Creates Headquarters to Combat Illegal Crypto Mining Operations Police in Abkhazia are conducting daily raids to […]

The Graph introduces GRC-20 standard for Web3 data structure

Ban on Crypto Mining in Residential Areas Proposed in Russia

Ban on Crypto Mining in Residential Areas Proposed in RussiaAdvisors to the Kremlin have suggested that home crypto mining should be banned in Russia, or in some of its regions. The stated motive for the proposal is to prevent fires in residential buildings. Amateur miners have been blamed for high loads on the grid causing breakdowns and blackouts. Energy Experts Want to Prohibit Mining […]

The Graph introduces GRC-20 standard for Web3 data structure

Amid High Energy Demand From Miners, Russia Mulls Building New Power Plants in Siberia

Amid High Energy Demand From Miners, Russia Mulls Building New Power Plants in SiberiaGrowing electricity consumption in the crypto mining sector may require the construction of new power generation facilities in Siberia, the energy minister of Russia has acknowledged. Demand continues to increase in residential areas as well, after regional authorities abandoned a proposal to introduce higher tariffs for Russians minting digital coins at their homes. Authorities in […]

The Graph introduces GRC-20 standard for Web3 data structure

Challenging Year for Bitcoin Miners as Fewer BTC Mining Rigs Are Profitable at Current Prices

Challenging Year for Bitcoin Miners as Fewer BTC Mining Rigs Are Profitable at Current PricesBitcoin miners have had a challenging year as the network’s mining difficulty reached an all-time high and the spot market price of bitcoin dropped below the cost of production. Currently, with electricity costs at $0.07 per kilowatt-hour (kWh), only 18 application-specific integrated circuit (ASIC) bitcoin mining rigs are able to turn a profit at current […]

The Graph introduces GRC-20 standard for Web3 data structure

Russia Cracking Down on Crypto Miners Minting in Residential Areas

Russia Cracking Down on Crypto Miners Minting in Residential AreasRussian authorities are now prosecuting miners extracting cryptocurrency using subsidized electricity for the population, according to a top official from the energy ministry. Power utilities are detecting their increased consumption and trying to make them pay at commercial rates. Amateur Crypto Miners in Russia Under Pressure Despite Lack of Regulation for Home Mining Electricity distribution […]

The Graph introduces GRC-20 standard for Web3 data structure