On Wednesday, the US dollar declined against a basket of its peers, but it was still close to the 2-decade high that it had touched on Monday. Traders were gearing up for yet another aggressive interest rate hike from the Federal Reserve in its next policy meeting in September. Dollar index down The dollar index … Read more
On Tuesday, European stocks ended the day lower, as they failed to shrug off worries of high interest rates amidst the possibility of an economic recession and a burgeoning energy crunch. Stocks erase gains The continent-wide STOXX 600 index had recorded gains of as much as 1% during the session, but it ended up erasing … 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
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
A new draft law superseded an old bill with a 1-year tax and customs amnesty for Russian BTC miners.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 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
Bit Digital, a cryptocurrency mining company with its headquarters in New York, had issues with mining last week. This occurred after two of its hosting partners stopped their mining operations. Over 4,800 machines seized operations after the power outage in two locations. Explosion Destroys Two Crypto Mining Substations An “explosion and ensuing fire” caused damage … 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
The CCAF (Cambridge Center for Alternative Finance), a financial research institute connected with Cambridge University, discovered that Bitcoin’s hash rate increased by 4%, from 35% in August to 39%. US Crypto Mining Firms Record Drop In Share Value Despite this, mining companies’ share values have been falling over the last month with the falling price … 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
