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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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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.

Ukrainian police seize 3,800 PS4 consoles used for illegal crypto mining

2021-07-12T11:46:03+01:00

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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.

Bitcoin electricity consumption falls to November 2020 levels: Data

2021-07-08T16:38:38+01:00

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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.

Iran pauses electricity exports due to crypto mining and hot summer

2021-07-07T11:42:44+01:00

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The new law introduces an additional tax levy for energy used by crypto miners starting from January 2022.

Kazakhstan to introduce new energy fees for crypto miners in 2022

2021-07-01T11:57:43+01:00

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Advertisements for small-scale hydro plants have reportedly surged on Chinese secondhand e-commerce platforms.

Chinese hydropower plants on sale as crypto miners move abroad

2021-06-29T13:06:46+01:00

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Crypto miners in Ya'an City have reportedly been ordered to temporarily shut down their operations.

City in Sichuan reportedly orders crypto miners to shut down for investigation

2021-06-18T11:02:41+01:00

6640

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 su...

Crypto miners eye cheap power in Texas, but fears aired over impact on the grid

2021-06-16T06:49:51+01:00

8625

After introducing a new carbon-neutral system for Bitcoin investment in April, One River Digital has already applied for a carbon-neutral BTC ETF.

One River Digital sees spike in demand for carbon neutral Bitcoin

2021-06-10T12:53:09+01:00

6175