Kazakhstan Gets $1.5M From Fees On Crypto Mining In Q1 2022

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

Crypto Miners Use 2% Of Power Consumption In Russia

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

Paraguay Approves Regulations For Crypto Trading And Mining 

Paraguay is closer to crypto adoption after a 40:12 vote from the Chamber of Deputies. The bill will regulate the trading and mining of cryptocurrencies in the country.  The country’s Chamber of Deputies gave adopted the legislative framework. As a result, it will go to the House of Senate for approval.  Once the Senate approves … Read more

Nvidia’s Mining Card Revenue For Q2 Falls Below Expectation

On Thursday, the stock price of graphics card producer, Nvidia, dropped. This was after the revenue for Q2 fell short of expectations.  The company had strong revenue growth from Q4 last year to 2022. Its revenue increased by 8% to over $8.98 billion within this period. Also, the share price increased by 3%.  Nvidia plans … Read more

Russian Crypto Miners Won’t Get Tax Amnesty as Lawmakers Pull Proposal

A new draft law superseded an old bill with a 1-year tax and customs amnesty for Russian BTC miners. They revoked the tax benefit because it would have hurt the state budget. Russian Lawmakers Submit Amended Crypto Mining Regulations Without Miner Amnesty The State Duma in Russia has received yet another piece of legislation. It’s … Read more

Quantum Blockchain Unveil Fast And Energy Efficient Mining Algorithm

Quantum Blockchain has introduced a new BTC mining algorithm. It will improve the energy efficiency and speed of the present crypto mining gear.  As per the business, it has now moved on to live tests of BTC mining. It will use the usual version of the SHA-256 algorithm. Quantum wants to gather real-time data to … Read more

China Re-emerges As 2nd BTC Mining Hub Even After Ban On Crypto

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 Mining Release Q1 Report Amid Ongoing Debate On Coal-Powered Mining

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

Nvidia Fined $5.5M By SEC For Failing To Report Revenue From Crypto Mining

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

Argo Blockchain to Establish New Mining Facility in Texas

Popular mining firm, Argo Blockchain, has announced the opening of a new high-grade mining center in Texas. The London-headquartered mining firm announced via its official page it will set up a new mining facility Helios in the aforementioned location in the coming week. As per the firm’s application with the London Stock Exchange, Argo will … Read more