equipment

Investment Fund Focused on Crypto Mining to Be Created in Russia

March 3, 2023 Bitcoin.com

Bank of Russia

The establishment of Russia’s first mutual investment fund dedicated to financing cryptocurrency mining operations is underway. According to a report by the Russian press, it will be available to qualified investors and will finance the acquisition of coin minting equipment. Russian Crypto Mining Sector to Attract Shareholders Through Investment Fund Work has begun to set […]

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Daily Raids on Crypto Farms as Abkhazia Intensifies Mining Crackdown

February 12, 2023 Bitcoin.com

$POWER

Authorities 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 […]

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Vietnam Crypto Miners Complain About Losses From Ethereum’s Merge

September 19, 2022 Bitcoin.com

bitcoin.com

Miners in Vietnam have expressed grievances over the loss of business following Ethereum’s transition to a consensus mechanism that does not require the energy-intensive computing they were providing. Many are in trouble, local media reported, quoting entrepreneurs and mining enthusiasts. Cryptocurrency Miners Hit by The Merge, Vietnam Report Reveals Vietnam’s crypto miners have suffered heavy […]

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Russian Arrested for Defrauding Buyers of Mining Hardware Worth Over $300,000

September 5, 2022 Bitcoin.com

Arrest

Police in the southern Russian city of Astrakhan have detained a man accused of defrauding people who wanted to purchase crypto miners. Law enforcement officials say the suspect made millions of rubles through fictitious sales of mining devices to Russian citizens and foreigners. Investigators Claim Russian Made Money Selling Nonexistent Crypto Mining Rigs A resident […]

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Authorities Seize Over 1,500 Crypto Mining Rigs in Dagestan Crackdown

May 15, 2022 Bitcoin.com

$POWER

Law enforcement and other authorities in Dagestan have closed down two illegal crypto farms, confiscating more than 1,500 mining machines. Government agencies in the republic, considered one of Russia’s capitals of underground coin minting, carry out regular raids against such facilities. Cryptocurrency Miners in Dagestan Accused of ‘Illegal Entrepreneurship’ Officers from the Ministry of Internal […]

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Abkhazia Extends Crypto Mining Ban Till End of Year

April 6, 2022 Bitcoin.com

$POWER

Authorities in Abkhazia have decided to maintain a ban on cryptocurrency mining in the territory. The partially recognized republic in the South Caucasus is restricting the energy-intensive extraction of digital currencies, citing problems with power supply. Bitcoin Mining Remains Prohibited in Abkhazia The government of Abkhazia, a breakaway republic in Georgia, has prolonged current restrictions […]

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Supreme Tribunal in Venezuela States Sunacrip Has Strategic Role, Voids Earlier Sentence

March 13, 2022 Bitcoin.com

bitcoin.com

The Supreme Tribunal of Justice of Venezuela has stated in a recent sentence that the tasks developed by Sunacrip, the national cryptocurrency and bitcoin mining watchdog, have a strategic significance for the country. The sentence also voids certain resolutions taken in a case where another court rolled back the seizure of more than 1,000 bitcoin […]

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Starlink Terminals Arrive in Ukraine as Elon Musk Makes Good on Promise

March 2, 2022 Bitcoin.com

bitcoin.com

Spacex has managed to deliver Starlink equipment to Ukraine as promised by its founder, Elon Musk. The hardware will provide access to high-speed internet for users in the country, which has been experiencing disruptions in communications as a result of Russia’s military invasion. Ukrainians Get Starlink Internet Amid Ongoing Russian Offensive Ukraine has received a […]

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Kazakhstan President Orders Government to Find All Miners and Raise Tax by April

February 10, 2022 Bitcoin.com

$POWER

President of Kazakhstan Kassym-Jomart Tokayev has instructed authorities to identify all crypto mining enterprises and increase the electricity surcharge they are required to pay. The state is not against legal mining activities, but crypto farms should be licensed and taxed, Tokayev insisted. Miners in Kazakhstan to Pay Higher Electricity Tariffs On top of electricity shortages […]

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Demand for Mining Equipment Drops in Russia Amid Fears of Possible Ban, Report

February 4, 2022 Bitcoin.com

Ads

Platforms listing ads for mining hardware have been registering declining demand since Bank of Russia’s call for a ban on the minting of digital currencies among other crypto activities. While mining may eventually be legalized, miners can expect to pay higher electricity bills. Supply Exceeds Demand on Russian Market for Mining Chips Mining hardware is […]

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