The fight against the mining of cryptocurrencies continues with full force. It is a well-known fact that the mining of Bitcoin and other digital coins drains a huge amount of electricity and this cost often comes at the expense of the respective government. While in China it's no longer a crime to found mining operations,…
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Authorities in Russia have prosecuted two Russians for illegally mining cryptocurrencies using government computers. The news comes from local press coverage TASS. According to TASS, the two Russian men were targeting the hardware of Russian state organizations to mine digital coins using web browsers. The published report on the news does not reveal the identities…
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Countries are finding different ways to fight illegal cryptocurrency mining activities. One of the more interesting approaches comes from Iran, which has started offering bounties to people who expose illegal crypto mining operations. The announcement came after new regulations were set in motion for the cryptocurrency industry. The news comes from local agency IRIB News.…
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The Government of Iran has decided to stop the power for crypto mining until new prices for energy are approved, reported Zero Hedge. An Official of the Iran's Ministry of Energy, Mr. Mostafa Rajabi Mashhadi, has revealed that the electricity consumption in the country has climbed with 7% for a period of one month only…
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The regulatory wheels of justice may move slowly, but it appears that the long arm of the law of the self-regulatory body, the Financial Industry Regulatory Authority (FINRA), got their man. Rules are rules, and Kyung Soo Kim, an ex-employee of Bank of America-owned broker-dealer Merrill Lynch, Pierce, Fenner & Smith Inc., recently met his…
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Every spokesperson for a publicly traded stock company must, at some point in his or her career, take “fines dancing lessons”, not so much to display fancy footwork when earnings reports are abysmal, but also to set up a situation that could go either way. Nvidia (NASDAQ:NVDA), one of the major chip manufacturers in the…
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Historians have often said that the only people that truly prosper during a gold rush are the ones that sell pick axes, panning supplies, and other paraphernalia to the would-be miners. Fast forward to crypto mining today, and you have a replay of this maxim before our very eyes – Nvidia (NASDAQ:NVDA), a major supplier…
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Crypto mining is not a low cost endeavor. A major capital investment in computers is “Step One”, but then the power necessary to complete the task is exorbitant by today’s standards. Utility commissions across the globe are presently wrestling with this issue, until a more efficient mining process is developed. In the meantime, news headlines…
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Mining businesses are in trouble with bitcoin being low and companies like GigaWatt filing for bankruptcy. Bitcoin prices jumped as much as 16% Wednesday after hitting a new 14-month low over the weekend. The cryptocurrency was trading around $4,300 as of 3:55 p.m. ET. Below is Node Haven's commentary on the current mining situation: What…
Read moreArgo, a UK-Canadian venture, has just announced that it has launched today a new low-cost, flexible and easy-to-use crypto-mining service for users. The service is aimed at addressing pent-up demand from users who want to benefit from mining digital currencies but have been put-off by its complexity and significant up-front cost. The company’s solution is…
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