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2022-05-12 09:29:02 Bitcoin miners aim for carbon neutrality by mining near data centers

Bitcoin (BTC) mining has always been a controversial topic. But, Bitcoin’s proof-of-work (PoW) model has reached new levels of concern as senior decision-makers and investors pay closer attention to environmental, social and governance factors. As such, many crypto miners are highlighting environmentally friendly practices by acquiring carbon offsets. Yet, some would argue that this isn’t enough to guarantee green Bitcoin mining.

For instance, Kevin O’Leary — the Canadian entrepreneur better known as “Mr. Wonderful” for his role on Shark Tank — told Cointelegraph that he typically indexes public mining companies like Marathon Digital Holdings, Riot Blockchain Inc. and others. However, O’Leary pointed out that once these companies claimed carbon neutrality through carbon offsets, their stocks dropped drastically.

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2022-05-11 15:21:02 Ethereum Miners Surpass Bitcoin Miner Revenue By $224M

After the continuous sink in the mining profitability of both digital assets year-on-year, Bitcoin miners have been set back to seats as Ethereum miners consecutively surpassed them in mining revenue and recorded a gap of $224 million in April 2022.

This month was not so good for Bitcoin miners as they were able to generate around $1.16 billion only. Notably, this figure is down by $44 million from the previous month’s mining revenue of Bitcoin. The last month saw $1.7 billion in recorded income.Bitcoin miners’ total profitability was down by 31% from April 2021 to the present. In that time, $1.7 billion in revenue was recorded.Unlike Bitcoin, Ethereum mining revenue in April increased by 3% generating $1.39 billion. While Bitcoin, at the same time, recorded $1.16 billion in mining revenue.

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2022-05-10 13:40:03 Ethereum Miner Revenue Surpassed Bitcoin By $224M in April

Bitcoin miners took a back seat in mining profitability during the month of April as Ethereum miners saw $224 million more revenue than Bitcoin miners. April proved to be a difficult month for Bitcoin miners. According to Be[In]Crypto Research, BTC miners were able to generate around $1.16 billion in revenue during the fourth month of 2022.

The total profitability of Bitcoin over the past year was down by 31% since April 2021, which saw $1.7 billion in revenue recorded. The single-day high for April 2022 was 3% below the best day high in March. The single-day high for March 2022 was in the region of $47.54 million, according to data from YCharts. The single-day high for April ($46.01 million) was 23% lower than January 2022’s best-day high of $60.16 million.

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2022-05-08 19:15:50 Staking Contract of Ethereum 2.0 Reaches 12.4 Million ETH

The second-most valuable cryptocurrency in the world, Ethereum officially started its network upgrade in December 2020 with Beacon Chain’s launch. The crypto community showed immense support to the network upgrade with the staking of more than 1 million Ethereum under ETH 2.0’s deposit contract within the first week of the launch of Beacon Chain.

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2022-05-08 16:38:02 New York environmental committee will not consider Bitcoin mining ban bill

The bill is now being considered by the Senate Environmental Conservation Committee. Still, according to a schedule posted early Friday morning, the committee has opted not to take up the bill at its last meeting of the current legislative session.

There has been strong opposition to the legislation from many members of the cryptocurrency industry who believe that the moratorium, which is much narrower than an earlier version that sought to impose an all-out ban on mining for three years – could be the start of a downward road that eventually leads to the outright prohibition of all cryptocurrency mining in the state of New York.

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2022-05-07 13:08:02 Nvidia to pay $5.5 mln penalty for 'inadequate disclosures' about cryptomining -SEC

Nvidia Corporation (NVDA.O) has agreed to pay $5.5 million to settle civil charges that the technology firm did not properly disclose the impact of cryptomining on its gaming business, the U.S. Securities and Exchange Commission (SEC) said on Friday.

Nvidia failed to disclose that cryptomining was a "significant element" of its revenue growth during back-to-back quarters in fiscal 2018 despite having information that showed the increase in its gaming sales was driven in part from it, the SEC said in a statement and charging order.Nvidia's failure to disclose material information misled investors and analysts who were interested to understand the impact of cryptomining on Nvidia's business, the SEC said.

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2022-05-05 13:07:02 Uzbekistan legalises solar-powered crypto mining

Uzbekistan will allow companies to mine cryptocurrencies using solar energy and will exempt all crypto operations by domestic and foreign companies from income tax, according to a presidential decree published this week.

The Tashkent government wants miners to power their farms by installing their own solar panels.Alternatively, mining companies can be connected to the power grid if they pay double the regular price. However, during peak consumption periods extra surcharges can be levied, according to the decree.No license is required for mining but the company must be registered by a newly formed Uzbek National Agency for Perspective Projects, the document said.

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2022-05-04 18:08:02 Dorsey, Saylor, Fidelity and others defend environmental impact of bitcoin mining in letter to EPA

Some of the biggest names in bitcoin — including Jack Dorsey, Tom Lee, and Michael Saylor — have banded together to refute claims made by House Democrats calling on the Environmental Protection Agency to investigate the environmental effects of crypto mining.

Bitcoin operates on a proof-of-work (PoW) mining model, meaning that miners around the world run high-powered computers to simultaneously create new bitcoin and validate transactions. Proof-of-work mining, which requires sophisticated gear and a whole lot of electricity, has virtually become synonymous with bitcoin, though ethereum — at least for another few months — still uses this method to secure its network.

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2022-05-03 18:26:02 Bitcoin mining to be performed beside Southland power station

Energy start-up company Grid Share will begin operating a data centre performing Bitcoin mining at the Monowai Power Station in May, using renewable hydroelectric power.The facility is a 2MW data centre that can be transitioned into cloud-based high performance computing in the future.

Grid Share chief executive Tom Algie said the partnership with Pioneer Energy was a “step towards supporting the transition to 100 per cent renewable energy in New Zealand”.Algie said Grid Share would use the opportunity to test technology to ramp power consumption up and down in real time, which Bitcoin mining was suited for.

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2022-05-03 17:38:55 FIFA announces partnership with blockchain innovator Algorand

The deal is also a technical partnership in which Algorand will help FIFA enter Web3, with the possibility of official NFTs minted on $ALGO.

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