Cryptocurrency Mining | ForkLog

ForkLog 19 06.02.2024

Bitcoin Miners’ Reserves Decline to July 2021 Levels

Bitcoin reserves held by miners have fallen to levels last seen in July 2021, according to observations shared by CryptoQuant analysts.

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ForkLog 60 03.02.2024

Illegal Mining Farm with 378 Devices Discovered in Dagestan

Police in the city of Kizilyurt uncovered illegally connected cryptocurrency mining equipment within an unnamed gardening association. This was reported by the press service of the Ministry of Internal Affairs for the Republic of Dagestan. The mining farm was located in an auxiliary room. Law enforcement seized 378 devices. “The connection to the power lines […]

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ForkLog 48 02.02.2024

Bitmain’s S21 Miner Named ‘Breakthrough of the Year’ by Bitdeer

Bitdeer hosted its inaugural Mining Awards 2023, recognizing the leading figures in the cryptocurrency mining industry over the past year. ? Bitdeer Mining Awards 2023 Celebrating industry pioneers, innovations, and game-changers in #BitcoinMining ⛏️ Delve deeper into the details here ?https://t.co/xZwysSpTIx#BTCMining2023 #MinersCommunity pic.twitter.com/gnuGflhQK2 — Bitdeer (@BitdeerOfficial) January 25, 2024 The Antminer S21 by Bitmain won […]

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ForkLog 13 02.02.2024

US Department of Energy to Investigate Bitcoin Miners’ Energy Consumption

The US Energy Information Administration (EIA) will conduct a survey of mining companies regarding their electricity consumption. We’re initiating collection of data regarding #electricity use by US #cryptocurrency miners. We’ll ask about their electricity consumption so we can better understand their energy demands. ?https://t.co/gYpZgtiD6J pic.twitter.com/pQ9ULoLAAU — EIA (@EIAgov) January 31, 2024 The EIA, a statistical […]

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ForkLog 83 01.02.2024

Core Scientific Mines Over 19,200 BTC in a Year

In 2023, the bankrupt mining company Core Scientific mined 19,274 BTC (approximately $812 million at the time of writing). In 2023, Core Scientific produced 19,274 Bitcoin, comprising 13,762 self-mined and 5,512 client-mined in our data centers, making us the largest listed producer of #Bitcoin in North America! As every miner’s performance is crucial to our […]

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ForkLog 21 01.02.2024

Russia’s Bitcoin Mining Potential and Regulatory Critique

Cryptocurrency market regulation in Russia is progressing at a sluggish pace, despite the sector’s potential to contribute significantly to the national budget. This was highlighted by participants at the RBC-Crypto forum titled “Mining and Cryptocurrencies: Architecture of Growth.” According to the Industrial Mining Association, large data centers dedicated to cryptocurrency mining could provide liquidity for […]

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ForkLog 21 01.02.2024

Celsius Network to Distribute $3 Billion in Restructuring Plan

The bankrupt lending platform Celsius will distribute $3 billion to creditors under an approved restructuring plan. This decision was supported by 98% of account holders and confirmed by the Southern District of New York court. Recipients can expect assets in cryptocurrencies, fiat, and common stock of the new Bitcoin mining company Ionic Digital. The latter […]

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ForkLog 14 30.01.2024

Illegal Mining Farm Discovered in Unfinished House in Irkutsk Region

Police in the Irkutsk region conducted a raid in the village of Zalari, uncovering an illegal mining farm within the confines of an unfinished private house. The operation was prompted by a complaint from energy providers, who discovered that the building was illicitly connected to the power grid. A metal container on the site emitted […]

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ForkLog 47 29.01.2024

GRIID Mining Company Debuts on Nasdaq

On January 29, the American mining company GRIID went public through a reverse merger with a SPAC. Shares under the ticker GRDI began trading on Nasdaq, as stated in the press release. In December 2021, the firm announced a definitive agreement with Adit EdTech Acquisition Corp. The deal was closed on January 2, 2024, and […]

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ForkLog 37 29.01.2024

Russia Evaluates Potential Tax Revenue from Bitcoin Mining

The tax potential of mining in Russia, with the introduction of balanced regulation, is estimated at 50 billion rubles annually after 2025. This was reported by TASS, citing a statement from Sergey Bezdolov, Director of the Industrial Mining Association. According to his data, Russian miners consume about 2.5 GW of electrical power. Of this, 1.7 […]

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ForkLog 25 26.01.2024

Canaan Secures $50 Million in Equity Capital

The mining equipment manufacturer Canaan secured $50 million through the issuance and sale of convertible preferred shares. According to a report to the SEC, the firm reached an agreement with an unnamed institutional investor in November 2023. The funding was received in two equal tranches in December and January. “The company intends to use the […]

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ForkLog 35 26.01.2024

Cryptocurrency Mining Farm with 620 Devices Discovered in Makhachkala Parking Garage

Police in Makhachkala, in collaboration with specialists from the Dagenergo branch, uncovered a cryptocurrency mining farm with 620 devices in the garage of an underground parking facility while investigating residents’ complaints about power surges in a multi-storey building. The equipment belonged to a 35-year-old local resident. An inspection revealed that he had connected the equipment […]

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