Paraguay Cracks Down on Illegal Bitcoin Mining: Over 550 Miners Seized

May 24, 2024 Bitcoin.com

ANDE

Paraguayan authorities have intensified their efforts to fight illegal bitcoin mining, using innovative techniques including artificial intelligence (AI) and its distribution systems to detect these activities. In less than a week, two new illegal bitcoin mining operations have been closed with over 550 miners seized, causing undetermined damages to the National Power Administration (ANDE). Paraguay […]

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Venezuela bans crypto mining to protect power grid

May 19, 2024 Coin Telegraph

anti-corruption

This move follows a recent crackdown that involved confiscating 2,000 cryptocurrency mining devices as part of an anti-corruption initiative.

The Venezuelan government has joined the list of countries that have frowned on crypto mining due to its hefty electricity demands.

According to a local news outlet, Venezuela’s Ministry of Electric Power (MPPPE) has unveiled plans to disconnect cryptocurrency mining farms from the national grid. The move aims to regulate excessive energy consumption and guarantee a stable power supply for the population.

An X post from Venezuela’s National Association of Cryptocurrencies stated that crypto mining is prohibited throughout Venezuela. The move prioritizes energy stability over the burgeoning crypto-mining industry.

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Terawulf Energizes First Nuclear-Powered Bitcoin Mining Facility in the US, Plans to Expand Operations

March 6, 2023 Bitcoin.com

ASIC mining rigs

Terawulf, a bitcoin mining operation, has announced that it has energized the first nuclear-powered bitcoin mining facility in the United States at the company’s Nautilus Facility in Pennsylvania. According to the company, approximately 1 exahash per second (EH/s) or close to 8,000 application-specific integrated circuit (ASIC) bitcoin miners are now online, and another 8,000 mining […]

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Students Mining Crypto in Dorms May Face Criminal Prosecution in Russia, Lawyer Says

February 11, 2022 Bitcoin.com

$POWER

University students in Russia minting digital currencies in their dormitories risk penalties and even criminal charges, according to a legal expert quoted by local media. The warning comes as Russian authorities are trying to curb crypto mining with cheap energy in residential areas. Mining May Turn Into Risky Undertaking for Russian Students As more and […]

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Kazakhstan Shuts Down Crypto Mining Farms Till February

January 26, 2022 Bitcoin.com

$POWER

Data centers minting cryptocurrencies in Kazakhstan were cut off from the nation’s power grid this week and will remain unplugged for the rest of January. The measure comes as the country faces electricity shortages blamed on crypto mining and blackouts in the cold winter months. Crypto Miners in Kazakhstan Left Without Power Bitcoin mining facilities […]

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Cheap Power Is Creating a Bitcoin Mining Boom in Argentina

June 2, 2021 Bitcoin.com

Argentina

Argentina, the ailing South American country, is experiencing a cryptocurrency mining resurgence due to artificially low power rates maintained by subsidies from the national government. This fact, alongside exchange controls and the possibility of selling obtained assets at a higher exchange rate than the official one, is enticing more and more individuals to enter the […]

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Crypto Miners Using Household Electricity Face Fines as Consumption Spikes in Iran

May 17, 2021 Bitcoin.com

$POWER

Those who mine cryptocurrencies with power intended for domestic use will pay hefty fines, the Iranian government warned. The country is experiencing shortages due to reduced hydropower generation as authorities register a surge in electricity consumption for cryptocurrency mining. Crypto Miners to Pay for Damages to the Power Grid Hydropower plants in Iran have been […]

power grid

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