In recent news, the Kazakhstani government has raised $1.5M (652M Kazakhstani tenges) in Q1 2022. This revenue is from the fees it imposed on cryptocurrency miners in 2022. Despite the opposition to a tax on crypto mining in April, the country has made some revenue. The report states, “The fee depends on the amount of … Read more
According to a government report by Russia, crypto miners use over 2% of power consumption. Hence, officials are calling for a regulation of the sector. Crypto Miners Use More Electricity Compared To Agriculture According to the latest report, miners in Russia consume more power than farmers. Currently, crypto miners use over 2% of total electricity … Read more
The Chinese government’s mandate to ban crypto operations seems to have been ineffective. This is coming after a recent report stated that China was part of the world’s first three largest Bitcoin mining centers. Are BTC Miners Secretly Mining In China? According to the latest news from CBEC (Cambridge Bitcoin Electricity Consumption Index), China has … Read more
Stronghold Digital Mining, situated in Pennsylvania, has recorded first-quarter sales of $28.7 million. This comes when more attention is being directed against the revival of coal plants for crypto mining operations. The company’s modified net loss for each share of $0.66 was more than the average expectation of $0.08, which meant that it significantly outperformed … Read more
There have been various events since the crash of the Terra blockchain last week. The latest is that a group of South Korean Terra holders has taken legal action against Terra founder, Do Kwon, following the Terra network crash. Kwon Faces Legal Action Over Terra Network Crash Some local media outlets have reported that those … Read more
For four consecutive months in a row in 2022, revenue from Ethereum mining has topped that of Bitcoin mining. In April 2022, mining income for both virtual currencies decreased year after year. While Ethereum reached a revenue of $1.39B in April, Bitcoin only achieved $1.16B in revenue. In April, ETH Miner Revenue Exceeded BTC by … Read more
According to the latest reports, the earnings from Ethereum mining have exceeded 95k ETH in one day. Also, handling fees were responsible for 85.9% of the total income generated. Ethereum Mining Becomes Very Profitable Despite High Gas Fees With the recent rise in DeFi (Decentralized Finance) activity, ETH miners’ income has reached 95,000 ETH in … Read more
The regulatory watchdog of the United States has stated that it has settled with Nvidia over “inadequate disclosures” of proceeds from crypto mining. Nvidia is a firm that makes graphics cards used by several crypto miners, On the 6th of May, the agency stated that Nvidia refused to report that cryptocurrency mining accounted for “a … Read more
The emergence and explosion of non-fungible tokens has been rapid, and the changes to the crypto industry are felt by all involved. But the growth comes with some form of confusion as key players like creators, collectors, and analysts need to understand the daily dynamics and trends to enable them to maximize the returns on … Read more
Binance is taking another major step toward scaling part of its BNB Smart Chain network to accommodate multiple blockchains and expand its operational processes. The leading crypto exchange platform announced that it has carried out a holistic revamp of the previously dormant cross-bridge protocol, Binance Bridge, which is now renamed Binance Bridge 2.0. The Binance … Read more
