Mining crypto

EU Revises Legislation Targeting Proof-of-Work Cryptocurrency Mining

Key points to remember A European law that proposes restrictions on environmentally unsustainable consensus mechanisms has been revised. This law could have possibly restricted the use of Bitcoin and other mining-based cryptocurrencies before the review. Stefan Berger, Member of the European Parliament, confirmed that the text in question had been deleted. Share this article A […]

Mining crypto

Georgia citizens forced to take oath to stop crypto mining

Residents of Svaneti, Georgia have reportedly been forced to take a sacred oath not to mine cryptocurrency to deal with power shortages blamed on Bitcoin mining. The economy of Georgia’s northwestern Svaneti region depends on tourism spending, which grew every year from 2000 to 2019, according to Macrotrends. However, following the COVID-19 pandemic, tourism fell […]

Mining crypto

Celsius will invest $300 million in Bitcoin mining

Key points to remember Celsius has invested $300 million in the bitcoin mining industry. It previously invested $200 million in mining equipment and equity, bringing its total investment to $500 million. The news comes months after China’s crypto ban helped the US crypto industry gain dominance. Share this article Cryptocurrency lender Celsius Network has invested […]

Mining crypto

Mozilla W3C Representative Condemns Cryptocurrency Mining

Key points to remember Mozilla web standards manager Tantek Çelik said proof of work should have no place in web standards. He cited high power consumption and lack of durability as the main issue behind the technology. His comments were about decentralized identity platforms (DIDs), not bitcoin transactions in general. Share this article Mozilla web […]

Mining crypto

Ukrainian PS4 Mining Farm Wasn’t Mining Crypto But FIFA Ultimate Team Cards

A recent collapse of an underground mining farm in Ukraine was not used for crypto as originally reported. Instead, it was mining FIFA Ultimate Team cards. Ukrainian officials shut down a PlayStation 4 (PS4) mining farm that thought it was mining crypto – but it was actually mining Ultimate Team cards in FIFA to sell […]