Articles for Cryptocurrency Mining

Crypto Tax: Italy Plans To Impose 26% Levy On Crypto Trading Gains; Details Here
2 years ago

Crypto Tax: Italy Plans To Impose 26% Levy On Crypto Trading Gains; Details Here

News 18  

Tightening the regulation on digital assets and expanding taxation on crypto trading, Italy is planning to impose a 26 per cent tax on digital assets for gains above 2,000 euros, according to a Bloomberg report. The Italian tax authorities currently treat digital coins and tokens as foreign currency and impose tax accordingly, which is lower than the proposed 26 per …

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New York Becomes First State in US To Restrict Cryptocurrency Mining; Governor Signs Law
2 years, 1 month ago

New York Becomes First State in US To Restrict Cryptocurrency Mining; Governor Signs Law

News 18  

New York is taking a first-in-the-nation step to tap the brakes on the spread of cryptocurrency mining, under legislation that Governor Kathy Hochul signed Tuesday. The new law sets a two-year moratorium on new and renewed air permits for fossil fuel power plants used for energy-intensive “proof-of-work” cryptocurrency mining — a term for the computational process that records and secures …

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NY bill aims to limit crypto miners using fossil fuel-generated power
2 years, 6 months ago

NY bill aims to limit crypto miners using fossil fuel-generated power

The Hindu  

The New York State Legislature has passed a bill that would impose a two-year moratorium on the use of fossil-fuel power plants to provide energy to miners of cryptocurrencies like Bitcoin, but Governor Kathy Hochul's office on Monday said she had not yet decided whether to sign it. Cryptocurrency mining requires a lot of electricity to power computer systems that …

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Explained: Can cryptocurrency go green?
2 years, 9 months ago

Explained: Can cryptocurrency go green?

The Hindu  

At the end of 2020, after 30 years in operation, Eduardo Kopper had to shut down the turbines of his hydroelectric plant, Poas I, located in Costa Rica's Central Valley region. The Costa Rican Institute of Electricity — the country's public electricity distributor — rejected Kopper's bid to sell his energy because the country has a surplus of renewable power. …

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GPU price cut could be an indication of low interest in cryptocurrency mining following crypto crash
2 years, 10 months ago

GPU price cut could be an indication of low interest in cryptocurrency mining following crypto crash

India Today  

Prices of Nvidia and AMD GPU units are dropping in several regions around the world. Reports indicate that prices have seen a dip of over 11 per cent, with an average cut of 5 per cent across models. This also proves to be an important indicator - a possibly waning interest in cryptocurrency mining following the crypto crash. For instance, …

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Bitcoin miners set up private power plant, garners wrath of environmentalists as it threaten climate action
3 years, 2 months ago

Bitcoin miners set up private power plant, garners wrath of environmentalists as it threaten climate action

Firstpost  

Greenidge Generation runs its own power plant to produce about 44 megawatts to run 15,300 computer servers which is enough to power more than 35,000 homes. Greenidge Generation runs a once-mothballed plant near the shore of Seneca Lake in the Finger Lakes region to produce about 44 megawatts to run 15,300 computer servers, plus additional electricity it sends into the …

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Bitcoin-mining power plant raises ire of environmentalists
3 years, 2 months ago

Bitcoin-mining power plant raises ire of environmentalists

Associated Press  

An obstacle to large-scale bitcoin mining is finding enough cheap energy to run the huge, power-gobbling computer arrays that create and transact cryptocurrency. “We are jeopardizing the state’s abilities to meet our climate goals, and we set the stage for the rest of the country as a result.” The former coal plant, in a touristy region known for its glacial …

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Iran bans crypto mining after summer power cuts strike early
3 years, 6 months ago

Iran bans crypto mining after summer power cuts strike early

Al Jazeera  

Iran is facing another widespread wave of power outages, and the government is blaming Bitcoin miners again. Tehran, Iran – Iran has banned all cryptocurrency mining for the next four months as widespread power outages stir public dissatisfaction across the country. President Hassan Rouhani said on Wednesday that all crypto mining operations in Iran – including legal ones – must …

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Nvidia restricts the use of its gaming chips for cryptocurrency mining
3 years, 7 months ago

Nvidia restricts the use of its gaming chips for cryptocurrency mining

India Today  

Nvidia has announced that it is limiting the capabilities of its latest RTX 30 series graphics cards such that they can’t be used for cryptocurrency mining. The US-based graphics chip maker has announced that its GeForce RTX 3080, RTX 3070, and RTX 3060 Ti graphics cards will have reduced cryptocurrency mining capabilities. Cryptocurrency mining essentially involves maintaining the crypto transaction …

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AI-based system can spot unauthorised cryptocurrency mining
4 years, 3 months ago

AI-based system can spot unauthorised cryptocurrency mining

The Hindu  

Researchers at US-based Los Alamos National Laboratory have developed an artificial intelligence algorithm to detect illicit cryptocurrency miners who use research computers for mining. “Our deep learning artificial intelligence model is designed to detect the abusive use of supercomputers specifically for the purpose of cryptocurrency mining,” said Gopinath Chennupati, a researcher at Los Alamos National Laboratory. Cryptocurrency mining requires a …

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