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Iris Energy to double hash rate in 2024 with $22M Bitmain T21 mining rig order

Iris Energy will receive mining hardware orders from Bitmain in the first six months of 2024, taking its operational mining capacity above 10 EH/s.

Renewable Bitcoin (BTC) mining firm Iris Energy is set to increase its total hash rate to 10 exahashes per second (EH/s) in 2024 by acquiring new Bitmain T21 mining rigs.

The company announced it had acquired an additional 1.6 EH/s of Bitmain T21 miners, set for delivery in the second quarter of 2024. The company currently has 5.6 EH/s of operational capacity as of December 2023.

The newest generation of Chinese manufacturer Bitmain’s mining hardware will also improve the efficiency of Iris’ operations from 29.5 joules per terahash (J/TH) to 24.8 J/TH. Iris invested $22.3 million in the latest order from Bitmain, pricing the hardware at $14 per terahash.

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‘Eccentric’ Crypto Laundering Mastermind Dreamed of Being Anointed a Buddhist Goddess

China Fines Bitmain $3.6 Million for Tax Violations, Report

China Fines Bitmain .6 Million for Tax Violations, ReportChinese authorities have fined leading crypto mining hardware manufacturer Bitmain for tax-related violations, local media reported. The penalty comes amid increasing tax checks in the digital asset sector, according to information from the crypto community. Bitmain Fined for Failing to Pay Income Tax on Behalf of Employees One of the world’s largest producers of devices […]

‘Eccentric’ Crypto Laundering Mastermind Dreamed of Being Anointed a Buddhist Goddess

Iran Returns Seized Crypto Mining Equipment to Miners

Iran Returns Seized Crypto Mining Equipment to MinersA government body responsible for state property in Iran has released some of the hardware seized from illegal crypto mining farms. Its top executive explained the agency was obliged to do that by courts in the Islamic Republic, where unlicensed miners have been blamed for power shortages. Authorities in Iran Give Confiscated Mining Rigs Back […]

‘Eccentric’ Crypto Laundering Mastermind Dreamed of Being Anointed a Buddhist Goddess

Demand for Cryptocurrency Miners Rises in Russia Amid Low Prices of Hardware

Demand for Cryptocurrency Miners Rises in Russia Amid Low Prices of HardwareRussia’s market for specialized crypto mining equipment has been seeing high demand over the past couple of months, with buyers attracted by the low price tags. Russian experts also predict an increase in the supply of used coin minting hardware as large foreign companies leave the industry. Russian Demand for Powerful ASIC Miners Skyrockets in […]

‘Eccentric’ Crypto Laundering Mastermind Dreamed of Being Anointed a Buddhist Goddess

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

Russian Arrested for Defrauding Buyers of Mining Hardware Worth Over 0,000Police 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 […]

‘Eccentric’ Crypto Laundering Mastermind Dreamed of Being Anointed a Buddhist Goddess

Crypto Miners in Russia’s Irkutsk Region Fined Almost $1.7 Million This Year

Crypto Miners in Russia’s Irkutsk Region Fined Almost .7 Million This YearAuthorities in the energy-rich Russian region of Irkutsk have imposed hefty fines on crypto miners this year for illegal use of electricity to produce digital currencies. Power utilities have also filed hundreds of lawsuits, a report reveals, quoting prosecutors. Irkutsk Crypto Miners Pay 100 Million Rubles in Fines in 2022 Cryptocurrency mining has become a […]

‘Eccentric’ Crypto Laundering Mastermind Dreamed of Being Anointed a Buddhist Goddess

Russian Caught Mining Crypto in Covid-19 Clinic

Russian Caught Mining Crypto in Covid-19 ClinicAn IT specialist working for a medical institution in Russia’s Altai Republic has been detained for illegally mining cryptocurrency at the premises of a Covid-19 hospital. The man minted digital currencies using stolen electricity for almost a year before law enforcement busted his crypto farm. Altai Resident Apprehended for Running Underground Crypto Mining Operation An […]

‘Eccentric’ Crypto Laundering Mastermind Dreamed of Being Anointed a Buddhist Goddess

Bitfarms Adds 18 MW of Capacity to ‘The Bunker’ — Miner’s Daily Production Taps 16.8 BTC per Day

Bitfarms Adds 18 MW of Capacity to ‘The Bunker’ — Miner’s Daily Production Taps 16.8 BTC per DayOn July 28, the bitcoin mining company Bitfarms announced the completion of the second phase of its facility expansion, by adding roughly 18 megawatts (MW) of capacity to the operation. The mining facility dubbed “The Bunker,” now has approximately 3.8 exahash per second (EH/s), after the 18 MW increase boosted the computational power by 200 […]

‘Eccentric’ Crypto Laundering Mastermind Dreamed of Being Anointed a Buddhist Goddess

Masked Men Rob Large Crypto Mining Farm Near Moscow

Masked Men Rob Large Crypto Mining Farm Near MoscowArmed robbers have plundered a large crypto mining facility not far from the Russian capital, local media reported. The unidentified perpetrators stole dozens of video cards in the latest incident involving theft of coin minting hardware, which has been on the rise in Russia. Unknown Attackers Steal Mining Equipment From Crypto Farm in Russia A […]

‘Eccentric’ Crypto Laundering Mastermind Dreamed of Being Anointed a Buddhist Goddess

Miners Have Moved 30% of Their Equipment Out of Kazakhstan, Industry Organization Claims

Miners Have Moved 30% of Their Equipment Out of Kazakhstan, Industry Organization ClaimsAuthorized crypto mining businesses have already taken a third of their coin minting hardware out of Kazakhstan, according to the country’s mining association. The news comes amid electricity shortages and upcoming tax hikes that are turning miners away from the Central Asian nation. Bitcoin Miners Start Pulling Machines Out of Kazakhstan Companies, legally operating mining […]

‘Eccentric’ Crypto Laundering Mastermind Dreamed of Being Anointed a Buddhist Goddess