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Russia, Belarus Move to Introduce Special Electricity Tariffs for Crypto Miners
18.10.2021
Authorities in Belarus and the Russian Federation are taking steps to separate cryptocurrency miners from other groups of power users and deny them access to subsidized energy. This could lead to the adoption of differentiated electricity rates for businesses involved in digital coin minting...
Russia considers new energy tariffs as Chinese crypto miners relocate
14.10.2021
Russia’s Irkutsk region saw its energy consumption rates surge by 160% following China’s crackdown on crypto mining
Kyrgyzstan Raises Electricity Rates for Cryptocurrency Miners
3.10.2021
The government of Kyrgyzstan has recently revised its electricity tariffs for various groups of consumers. Authorities in Bishkek have raised the rates at which crypto mining businesses buy power citing the energy-intensive nature of the coin minting process. Crypto Miners in Kyrgyzstan to Pay More...
Iranian Ministry of Industries Denies Power Shortages Are Caused by Illegal Crypto Miners
2.9.2021
Iran’s Ministry of Industries, Mining and Trade has rejected claims blaming illegal cryptocurrency miners for the continuing electricity shortages in the country. The department believes the state-run utility company, Tavanir, has overestimated their role in the power deficit. Illegal Miners...
Cheap Power Is Creating a Bitcoin Mining Boom in Argentina
2.6.2021
Argentina, the ailing South American country, is experiencing a cryptocurrency mining resurgence due to artificially low power rates maintained by subsidies from the national government. This fact, alongside exchange controls and the possibility of selling obtained assets at a higher exchange rate...
Iran Shuts Down 1,620 Cryptocurrency Mining Farms
6.1.2021
Since Iran began recognizing cryptocurrency mining as an industry, it has reportedly shut down 1,620 unauthorized crypto mining farms. Crypto miners initially welcomed the recognition but later said that the electricity tariffs were too high. 1,620 Crypto Mining Farms Shut Down in Iran Iranian...
Power Plants in Iran Are Authorized to Mine Bitcoin
29.7.2020
Power plants in Iran are allowed to mine cryptocurrencies, the deputy head of the country’s Power Generation, Distribution, and Transmission Company (Tavanir) has reportedly confirmed. Mostafa Rajabi Mashhadi, deputy head of Tavanir, explained that entities have to apply for the necessary...
German Economy in Risk of Recession Amid Weak Demand, Tariff Threat, and Epidemic
8.2.2020
Germany, the economic powerhouse of Europe, is facing renewed challenges that may soon push it towards recession. Falling industrial production and dwindling factory orders are the prime cause of concern. The negative results have been announced on the backdrop of weak demand from Eurozone...
Iran Issues More Than 1,000 Cryptocurrency Mining Licenses
25.1.2020
The Iranian government has reportedly issued more than 1,000 licenses for cryptocurrency mining since it began regulating the industry. A number of large mining farms have set up in the country, but high electricity tariffs have kept many small investors away. Also read: Regulatory Roundup —...
How Big Hydro Power Partners With Bitcoin Miners to Prevent Energy Waste
22.7.2019
We are often told that the verification of bitcoin transactions eats a lot of energy. The largely inaccurate comparison to a small country, the size of Ireland or Denmark, is evoked thanks to numerous clickbait headlines. What mainstream media fails to explain, however, is that bitcoin mining...
Microsoft, Sony, and Nintendo Urge to Remove Gaming Console Tariffs
27.6.2019
The trade war between the United States and China has possibly been one of the biggest events of the past decade, and it has had far-reaching consequences all over the world. After all, when the world’s two biggest economies are involved in a trade skirmish, then it is almost a given that...
Donald Trump All Set to Sign Order That Will Ban Huawei from the United States
15.5.2019
One of the biggest fallouts from the tensions between the United States and China has been the former’s accusation against the Chinese telecommunications giant Huawei, that eventually led to its ban in America. The US authorities accused that the telecommunication equipment that is supplied...
U.S. Stock Futures Fall After Trump Hikes Tariffs
11.5.2019
Trump who had tweeted on Sunday about a possible hike in tariffs on Chinese products worth $250 billion has carried out his threat. It has not only increased the tension between the two countries but also impacted the global economy. Though the shares in Asia held on, the U.S. stock futures fell...