Tags : Miners

Bitcoin

Bitcoin (BTC) miners in China plot plans to ‘go green’

Some of China’s storied Bitcoin miners are planning to use more renewable energy sources to power their expansive mining rigs, local outlet CGTN said today. Chinese officials said last month they would crackdown on mining farms for their high power usage and large environmental impact. One of the culprits was illegal coal extraction in some […]Read More

Market

Bitcoin miners can prove green potential by undergoing ESG ratings

Environmental concerns regarding the energy-intensive, proof-of-work (PoW) mechanism that Bitcoin (BTC) uses to produce new coins and verify transactions have been front and center lately. Debates regarding Bitcoin’s energy use particularly surged following a tweet sent out by Tesla CEO Elon Musk in May saying that his company would no longer accept Bitcoin payments due to […]Read More

Bitcoin

Elon Musk says Tesla will resume Bitcoin acceptance if majority

Elon Musk, the CEO of electric carmaker Tesla, said today the company will reaccept Bitcoin payments for its cars provided the majority of miners use renewable sources to run their farms. “When there’s confirmation of reasonable (~50%) clean energy usage by miners with a positive future trend, Tesla will resume allowing Bitcoin transactions,” said Musk […]Read More

Market

Death knell for Chinese crypto miners? Rigs on the move

When it comes to China, few things are crystal clear, and the nation’s recent crackdown on crypto mining is no exception. The State Council’s Financial Stability and Development Committee reported on May 21 that it is curtailing Bitcoin (BTC) mining amid financial risk concerns, which prompted the South China Morning Post to proclaim that “China’s […]Read More

Bitcoin

Bitcoin miners using hydropower asked to continue in Sichuan

Bitcoin miners in China’s Sichuan province can continue their operations until September this year, local tech publication TechNode reported today. The move comes on the back of recent regulations involving stricter crackdown of the activity. Citing sources who attended a regulatory meeting regarding crypto mines in the region, the report said that mining operators were […]Read More

Bitcoin

Bitcoin miners made over $1.4 billion last month, despite plunge

Despite the market crash, Bitcoin (BTC) miners appear only marginally affected with reduced revenues in May, according to data from analytics tool Coin Metrics. May was daunting for Bitcoin, witnessing a correction of over 50% from it’s all-time high above $63.000 in April. The price correction consequently affected the mining revenue plunge, softened by the […]Read More

Market

Fortunes turning? Specialized GPUs and SSDs come to aid crypto

After an exceptional start to the year, the crypto market entered a bearish period in mid-May, causing some to reevaluate their stance on some of the fundamentals surrounding the crypto industry. The prolonged fall of Bitcoin (BTC) — by more than 50% — and the subsequent dip in mining difficulty by 16%, which are suspected […]Read More

Bitcoin

North American miners form ‘Bitcoin Mining Council’ with Elon Musk

While the Bitcoin miners in China reel from the after-effects of the country’s latest crypto attack, miners on the other side of the planet are reportedly forming a new council to promote sustainable mining. Involved in the cause are North American mining companies, Bitcoin firms, and Tesla CEO Elon Musk himself. “Spoke with North American […]Read More

Bitcoin

Bitcoin miners are shutting down Chinese operations after Vice Premier’s

Chinese Bitcoin miners are scrambling to shift or shut operations after the latest round of ‘crypto FUD’ initiated by the government, a report on news outlet Reuters said today. Ending operations Crypto exchange Huobi suspended all mining operations this morning (alongside ceasing trading services for Chinese users), BTC.TOP, a crypto mining pool, announced the suspension […]Read More