Iranian Ministry allegedly dismisses illegal crypto mining claims by Tavanir
In response, Iran’s Ministry of Industry, Mine and Trade called into question Tavanir’s assertions that illegal mining activities consume 2,000 megawatts of electricity every year. Iran’s Ministry of Industry, Mine, and Trade has reportedly refuted accusations made by Iran’s largest power firm Tavanir, which claimed that unlicensed bitcoin miners were to blame for the country’s […]
CryptoQuant report shows miners expect Bitcoin to remain over $48,000, and here’s why
While Bitcoin’s hash rate is improving, recent reports from crypto data suppliers CryptoQuant and Glassnode suggest that Bitcoin miners are continuing to accumulate Bitcoin mining equipment. According to a certified CryptoQuant analyst, they expect Bitcoin will surpass the $48,000 barrier and maintain its current value, and as a result, they have been purchasing mining equipment […]
Prosecutors in Turkey are looking into a $119 million Dogecoin mining scheme
Authorities in Turkey are investigating an alleged Dogecoin mining scheme that swept investors under the rug after amassing $119 million in deposits, according to Turkish media. The story was first reported by local channel TV100 on August 23rd, with authorities identifying the scheme’s suspected operator as pseudonymous online persona “Turgut V.” Turgut and 11 colleagues […]
Singapore Myanmar Investco considers delving into crypto mining
Singapore Myanmar Investco (SMI) investment firm has announced the purchase of 800 bitcoin mining machines, which would be deployed at locations across Southeast Asia. The move will give the company’s retail consumers access to cryptocurrency mining, according to Mark Bedingham, the company’s CEO, “while creating tremendous shareholder value.” SMI, which is listed on the Singapore […]
Riot Blockchain’s Q2 revenue reports a 1,540% increase from Bitcoin mining
Riot Blockchain, a major publicly traded Bitcoin mining company, has claimed record sales for the second quarter of 2021 to be netted at $19.3 million. The U.S.-based company recorded $31.5 million in mining-related revenues for the three-month period in its quarterly financial report on Aug. 23, up about 1,540 percent from its Q2 2020 revenue […]