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2022-05-28 14:23:02 Bitcoin Mining Difficulty Drops 4.33%, Biggest Reduction in 10 Months

It’s now 4.33% easier to mine bitcoin over the next two weeks as the difficulty adjustment algorithm (DAA) dropped from 31.25 trillion to today’s 29.85 trillion. It’s the largest DAA drop since July 17, 2021, when the difficulty dropped 4.81% at block height 691,488.Approximately 1.44% of the global hashrate is operated by unknown or stealth miners with roughly 3.04 EH/s of hashpower.

Mining bitcoin is a lot less difficult than it was before May 25, 2022, as Bitcoin’s difficulty adjustment algorithm (DAA) saw a 4.33% reduction in difficulty.Prior to the drop, Bitcoin’s difficulty was approximately 31.25 trillion and today, it’s approximately 29.85 trillion after the largest drop since July 2021. The DAA change occurred at block height 737,856 on Wednesday.

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2022-05-27 16:05:04 Tesla delivers Megapacks to new Bitcoin mining facility

Tesla has delivered four Megapacks to a giant new Bitcoin mining facility in Texas that is going to be the first to be powered by the automaker’s solar and batteries.Last month, the project was announced as a partnership between Tesla, Blockstream, and Jack Dorsey’s Blocks (formerly Square).

The idea is to build a new 30 Petahashes per second open-source Bitcoin mining facility powered by a 3.8 MW solar farm and 12 MWh Megapack system provided by Tesla.Blockstream raised ~$40 million for the project through a token, which enables people to technically invest in the Bitcoin mining operation powered by Tesla Megapacks and solar by trading the token on Bitfinex.The project is moving quickly as Tesla has now delivered the four Megapacks to the mining facility.

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2022-05-26 15:20:06 Bitcoin-mining centre to use hydro station power

A New Zealand energy start-up company is to launch a bitcoin-mining centre next to the Monowai Power Station in Southland this month, bringing to four the number of planned data-mining centres in the South.

Grid Share plans to use energy generated by Pioneer Energy’s hydroelectric station in Alexandra for the 2MW data-mining centre, which will use up to 30% of the maximum electricity generated by the power station.The data centre can be transitioned into cloud-based high-performance computing in the future and the deal with Pioneer is seen as a step towards supporting the transition to 100% renewable energy in New Zealand.

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2022-05-25 09:11:02 Russia's updated crypto mining bill cuts tax amnesty for Bitcoin miners

In less than a month, the draft of a crypto mining bill in the Russian parliament has lost several key points, such as the obligation for mining operators to join a special registry and a one-year tax amnesty for all those who've registered. As the reasoning goes, the previous draft would lead to federal budget losses.

The fresh draft of the law “On mining in Russian Federation,” dating to last Frida, appeared in the database of the lower chamber of the Russian parliament, the State Duma. The document bears several significant changes from the past version, presented by co-sponsors on April 29.While the text remains unchanged in general, the new draft lacks the sub-section about a registry of mining operators, which companies would have to join to continue their work.

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2022-05-24 07:52:02 Crypto Mining Farm Uncovered in Russia’s Oldest Prison

Russian law enforcement officials are investigating a crypto mining operation at Butyrka, Russia’s oldest prison. A deputy warden has been accused of stealing electricity to mint digital coins with the help of unidentified accomplices.

A high-ranking representative of the management of Butyrskaya prison, in the Tverskoy District of central Moscow, is under investigation for setting up a crypto mining farm. Also known as Butyrka, this is the oldest prison in Russia, built in the distant 1771.The coin minting hardware was found in the premises of a psychiatric clinic run by the Federal Penitentiary Service at the prison.

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2022-05-23 16:22:02 Bitcoin Mining Firms Thriving in China Despite Ban

A report by CoinDesk published on May 17 says that — “according to the CCAF’s Bitcoin Electricity Consumption Index (CBECI), which maps the mining activity around the world based on the geolocational data reported by partnering pools” — China was the second largest Bitcoin mining hub (after the U.S.).

The news comes despite the Chinese government’s crackdown on crypto mining last year, which saw the country’s share drop to 0% in July and August 2021. Latest data from CCAF indicates that China’s share was 22.29% in September 2021, and held steady around 20% through the rest of the year.

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2022-05-22 15:41:02 First a Hum and Then a Bang –Niagara Falls Residents Forced to Reckon With Crypto Mining

NIAGARA FALLS, N.Y. - An explosion and subsequent fire rocked a Blockfusion crypto mining facility in upstate New York last week, resulting in thousands of mining rigs going offline.About three miles away, another bitcoin mine owned by U.S. Bitcoin Corp. had previously drawn the ire of some residents for being too noisy.

The new laws will likely include zoning requirements to ensure crypto mines aren't too close to residential areas, Niagara Falls Mayor Robert Restaino told CoinDesk in a phone interview on Thursday. "We have what we think is the final draft of the proposed change," the mayor said. As for next steps, he said the draft will go to the city planning board before it goes to the city council for a final vote.

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2022-05-22 10:24:10 Crypto Mining News pinned a photo Open / Comment

2022-05-22 10:24:07 Bitcoin/Crypto Mining News

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2022-05-21 21:47:04 DeFi TVL Sinks to Lowest Levels Since June 2021

2022 did not necessarily start with a bang, but the subsequent bearish onslaught has dragged the wider market into yet another crypto winter.The recent crypto market downturn has not only hurt retail investor sentiment but also the decentralized finance space.According to the popular resource and aggregator DeFi Llama, the total value locked across various chains has declined to levels last seen in June 2021.

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