News
Senator Cruz predicts that Bitcoin mining will be used to capture wasted renewables and Texas’ power grid within five years.
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Electricity News
Electricity is the physical flow of electrons. This flow is an energy carrier and is used to deliver energy for electrically-powered devices and establishments. Electricity is a major problem for the cryptocurrency industry. Blockchain electricity consumption values vary due to the algorithm used for establishing consensus. Proof-of-work cryptocurrencies demand a lot of power to operate. As a major PoW cryptocurrency, Bitcoin electricity usage is estimated around the value equal to that of Ireland. Bitcoin mining electricity is the most consuming part of the cost. Blockchain electricity consumption is also an environmental problem, as the growing amount of power demand may lead to climate change. Fixing the problem of large electricity requirements is a field of work for many tech companies. The most used technology for reducing energy demand is a proof-of-stake consensus algorithm that changes the way mining is performed.
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Link Global has received an extension to Oct. 14, 2021, as the deadline for filing its response to the action.
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El Salvador’s president showed the supposed first steps of a geothermal Bitcoin mining facility.
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Bitcoin has already consumed more power in 2021 than it did in all of 2020, according to a recent study.
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Authorized Bitcoin miners will be able to resume their operations after the electricity preservation policy during the hot summer months.
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The gaming hardware confiscated by the Ukrainian police was being used to create in-game currency and not for farming cryptocurrency.
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Russian crypto advocates are already collaborating with a consortium including some of China’s largest crypto mining-related companies.
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The Anhui government is addressing growing electricity demand by shutting down local crypto mining operations.
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Miners used an empty warehouse of an electricity supply company to plug into the grid and mine crypto on a variety of devices, including gaming consoles.
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Bitcoin’s total annual electricity consumption has fallen almost 60% since its all-time peak recorded in mid-May, according to industry data.
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Discounted tariffs made Iran attractive to miners, now the country is having a hard time closing the gap between the production and consumption of electricity.
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The new law introduces an additional tax levy for energy used by crypto miners starting from January 2022.
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Advertisements for small-scale hydro plants have reportedly surged on Chinese secondhand e-commerce platforms.
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Crypto miners in Ya'an City have reportedly been ordered to temporarily shut down their operations.
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Miners dislocated by China’s crackdown are looking to Texas for cheap electricity, but the state’s grid is already on the brink of disaster amid a sweltering summer.
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