News with the tag "Electricity"

The registered crypto trading firm allegedly stole “hundreds of millions of baht” from electricity providers, coming out to at least $2.88 million.

Russia’s key crypto mining regions like Irkutsk will enforce seasonal mining restrictions instead of originally proposed complete bans.

If approved, the restrictions would seriously affect Russia’s crypto mining operations, as some key local industry firms have a heavy presence in regions like Irkutsk.

Russia’s crypto mining laws have filled the “regulatory vacuum,” but there is still a lot of legal uncertainty about many aspects of regulation.

Ethiopia has rapidly expanded its electricity allocation to Bitcoin mining, making it one of the world’s fastest-growing markets for this activity. The country plans to further increase its capacity this year. Many of the miners are using mid-generation machines due to their low power consumption. E...

Compass Mining has announced a partnership with Mindshift, a licensed digital asset service provider in South Korea, to extend bitcoin mining services to the region. The collaboration aims to address challenges like high electricity costs while making bitcoin mining more accessible to South Korean r...

Thai authorities successfully raided an illegal bitcoin mining operation in Ratchaburi on August 23. The raid came after residents reported frequent power outages. The bitcoin mining operation was found to be consuming electricity that the occupants of the house were not fully paying for. Bitcoin Mi...

Thai authorities will address the broader issue of illegal mining and its impact on the country’s energy infrastructure.

International Monetary Fund (IMF) economists have warned of the environmental impact of crypto mining and AI data centers, which are projected to increase global electricity consumption to 3.5% by 2027, leading to higher carbon emissions. Proposing a targeted electricity tax, the authors estimate a ...

The IMF says an 85% increase in electricity taxes for crypto miners could significantly curb global carbon emissions. The IMF says such a levy would raise annual government revenue of $5.2 billion globally. Targeted power taxes for AI data centers should be $0.032 per kilowatt hour, or $0.052, inclu...