mining farms

Moscow, Karelia, Irkutsk — Study Lists Most Popular Crypto Mining Destinations in Russia

July 27, 2022 Bitcoin.com

$POWER

Russia could be a large player in the crypto mining space, experts in the field have established in research naming the most attractive regions for coin minting operations in the country. The capital Moscow is among the popular mining destinations alongside the places offering the cheapest power. Cost of Electricity, Logistics Determine Russian Miners’ Choice […]

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Sweden Needs Power for More Useful Things Than Bitcoin Mining, Energy Minister Says

July 18, 2022 Bitcoin.com

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Concerned about projected increase in electricity demand, the government in Sweden may turn its back on crypto mining, the country’s energy minister has indicated. Swedish bitcoin minting industry, a leader in Europe, is likely to soon lose the preferential treatment it has been taking advantage of for some time, a media report revealed. Crypto Miners […]

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Kazakhstan President Signs Law Increasing Tax Burden for Crypto Miners

July 13, 2022 Bitcoin.com

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President of Kazakhstan Kassym-Jomart Tokayev has signed into law a bill amending the country’s Tax Code to impose higher tax rates on crypto miners. The levy will depend on the amount and average price of electricity utilized in the extraction of digital currencies like bitcoin. Cryptocurrency Miners in Kazakhstan to Pay Higher Taxes President Tokayev […]

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Iranian Power Utility Tavanir Vows Severe Measures Against Unlicensed Crypto Miners

July 9, 2022 Bitcoin.com

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Iran’s state-owned power distribution company, Tavanir, has threatened harsher measures to discourage unauthorized crypto mining. These include much higher fines for those minting digital currencies with subsidized electricity and penalties for government officials involved in mining. Tavanir Raises Fines for Illegal Cryptocurrency Mining The Iran Power Generation, Transmission and Distribution Company (Tavanir) has adopted new, […]

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Uzbekistan Presents Registration Requirements for Cryptocurrency Miners

June 29, 2022 Bitcoin.com

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Authorities in Uzbekistan have drafted and put forward for public consultations a set of rules for crypto miners operating in the country. Companies that want to mint digital currencies will have to register with the government and use renewable energy. Uzbekistan Discusses Draft Regulations for Crypto Mining Sector Entities involved in cryptocurrency mining will need […]

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Iran to Shut Down Crypto Mining Farms Amid Record High Power Demand

June 21, 2022 Bitcoin.com

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Authorities in Iran plan to unplug licensed crypto mining facilities as electricity consumption in the country is reaching record highs. The mining farms will be cut off from the grid on Wednesday, the Islamic Republic’s Ministry of Energy announced. Legal Crypto Miners in Iran to Halt Operations Again Due to Electricity Shortages Authorized crypto mining […]

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Number of Busted Illegal Crypto Mining Farms in Iran Nears 7,000

May 14, 2022 Bitcoin.com

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Authorities in Iran have shut down close to 7,000 unauthorized facilities for cryptocurrency mining in the past two years, local media revealed. According to a report, most of the illegal bitcoin farms were concentrated in five provinces of the Islamic Republic, including Tehran. Iran Continues Crackdown on Unlicensed Cryptocurrency Mining Iranian officials have unplugged and […]

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Kazakhstan Auditors Go After Crypto Miners Accused of Exploiting Tax Benefits

April 3, 2022 Bitcoin.com

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Authorities in Kazakhstan have found several businesses minting digital currencies that took advantage of tax cuts they were allegedly not supposed to benefit from. Auditors said the crypto firms registered as “innovative companies,” to receive millions of dollars in tax preferences. 5 Mining Entities in Kazakhstan Get $18 Million in Tax Exemptions Auditors in Kazakhstan […]

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Kazakhstan Shuts Down Over 100 Crypto Mining Farms

March 16, 2022 Bitcoin.com

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More than 100 crypto farms in Kazakhstan have terminated operations as a result of ongoing inspections of the mining sector. Authorities have revealed that some of the facilities are linked to prominent businessmen and former government officials. Financial Watchdog Goes After Crypto Miners Across Kazakhstan The rapid expansion of crypto mining in Kazakhstan, since last […]

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Kazakhstan Cracks Down on Illegal Mining, Busts 13 Crypto Farms

February 23, 2022 Bitcoin.com

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Authorities in Kazakhstan have gone after illegal crypto mining operations amid ongoing issues with electricity supply. Working together with law enforcement, the country’s energy ministry announced the closure of over a dozen facilities minting digital currencies. Government Shuts Down Unauthorized Crypto Mining Operations Across Kazakhstan Local departments of the Committee for Atomic and Energy Supervision […]

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