US SEC Sues Geosyn Mining, Owners for $5.6M Fraud
The US Securities and Exchange Commission (SEC) has sued Geosyn Mining and its owners, claiming they misled and misappropriated its investors’ funds. Through service agreements offered as securities between November 2021 and December 2022, Geosyn, its CEO Caleb Joseph Ward, and former operating head Jeremy George McNutt allegedly deceived about 64 investors, according to the […]
Kyrgyzstan Sees Surge in Crypto Mining Tax Revenue
In the first 11 months of 2023, the government of Kyrgyzstan witnessed a substantial increase in tax collections from crypto miners, totaling 78.6 million soms ( $900,000). According to reports from the Finance Ministry, which were reported by the local media on January 1, the government of Kyrgyzstan collected taxes from cryptocurrency miners totaling 78.6 […]
Iris Energy to Acquire $22M Bitmain T21 Mining Rig to Increase Hash Rate in 2024
By acquiring new Bitmain T21 mining rigs worth $22M, renewable Bitcoin mining company Iris Energy plans to increase its total hash rate to 10 exahash per second (EH/s) in 2024. Deliveries of an additional 1.6EH/s of Bitmain T21 miners are scheduled for the second quarter of 2024, the company disclosed. As of December 2023, the […]
Microsoft Identifies Surge in OAuth Attacks with Financial Motivations
Microsoft’s security team has issued an advisory on the rising threat of OAuth attacks, which exploit compromised user accounts to perform illicit activities such as crypto mining and spamming. The company advises organizations to strengthen their identity infrastructure and access policies to prevent such breaches. OAuth allows users to grant permissions to third-party applications without […]
Digital Shovel Announces New Line of Modular Data Centers
Digital Shovel announced the latest evolution of its MiniPOD line of modular cryptocurrency mining data centers, the S300 MiniPOD. The new item is intended to save transportation costs, enhance portability, and increase cryptocurrency miners’ profitability. The S300 MiniPOD is a mobile device that only takes two people and no special tools to install on-site in […]