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2022-12-19 11:36:02 Dutch tulip farmer is swapping gas for heat from Bitcoin mining

The situation is not any better for greenhouse farmers in the Netherlands, the world's biggest tulip producer and also the second biggest agricultural exporter overall after the United States.

Huge energy costs have driven some Dutch agricultural firms that often rely on greenhouses to stop growing tulips this year, while others have even gone bankrupt. To avoid going out of business and creeping overhead costs, Koning has teamed up with a Bitcoin mining firm to heat her giant greenhouse near Amsterdam with mining servers.

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2022-12-18 20:55:05 EVs and crypto mining seen as emerging risks for US power reliability

The adoption of electric vehicles and the rise of cryptocurrency mining pose emerging challenges to U.S. power reliability in upcoming years, the North American Electric Reliability Corporation said on Thursday.

More EVs, spurred by government policies such as the U.S. Inflation Reduction Act, and energy-intensive mining of bitcoin will add demand on the nation’s fragile electrical grid while power plant closures outpace the replacement of new capacity and severe weather intensifies, NERC said in its long-term reliability assessment.

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2022-12-17 18:07:02 Russia Cracking Down on Crypto Miners Minting in Residential Areas

Russian authorities are now prosecuting miners extracting cryptocurrency using subsidized electricity for the population, according to a top official from the energy ministry. Power utilities are detecting their increased consumption and trying to make them pay at commercial rates.

Electricity distribution companies in Russia have started to identify improvised mining farms in residential buildings by the rising volume of energy consumption and higher loads on the grid at substations, Deputy Ministry of Energy Pavel Snikkars revealed to the Russian press. these consumers are not using the electricity for domestic needs.

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2022-12-16 10:42:02 Microsoft Bans Crypto Mining From Its Servers

Microsoft has modified its policy terms to make it clear that mining cryptocurrencies on its online services are not permitted without prior authorization. The upgrade, which is applicable to all users, including Microsoft’s premium subscribers, went into effect this December.

The upgrade forbids users from mining on Microsoft’s online services, primarily those connected to its cloud platform Azure. Mining is the process of verifying and adding transaction records to proof-of-work blockchains.This decision brings Microsoft in line with other major companies, such as Google. Mining is prohibited for users on the free tier of Amazon Web Services as well.

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2022-12-15 15:59:02 Japanese power company to utilize excess power for crypto mining

A major Japanese utility company, Tokyo Electric Power Grid (NS:PGRD) (TEPCO), is working with local mining rig manufacturer TRIPLE-1 to capitalize on excess power on its grid. TEPCO established a subsidiary called Agile Energy X with the goal of creating digital value from the utility’s excess power.

TEPCO and Agile Energy X signed a memorandum of understanding with TRIPLE-1 to develop distributed data centers throughout the country that capitalize on excess renewable energy with TRIPLE-1’s semiconductors. The project’s goal was to make good use of excess power by creating new demand for crypto mining and artificial intelligence computation. a 1.5 megawatt (MW) data center with 1,300 computers.

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2022-12-14 08:27:02 Bitcoin miner Argo accidentally said it's filing for Chapter 11, but is actually trying to avoid that fate by selling assets

Bitcoin miner Argo is looking to sell assets and get a loan as it seeks to avoid bankruptcy as it runs low on cash and after it accidentally published a document implying it would file for Chapter 11.

The company is in "advanced negotiations with a third party" to sell certain assets and secure equipment financing, it said in a statement. "The company is at risk of having insufficient cash to support ongoing business operations within the next month."The London Stock Exchange temporarily suspended its stock last Friday.

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2022-12-13 17:47:02 Netherlands use bitcoin mining to grow tulips

Tulips and bitcoin have both been associated with financial bubbles in their time, but in a giant greenhouse near Amsterdam the Dutch are trying to make them work together.

Engineer Bert de Groot inspects the six bitcoin miners as they perform complex sums to earn cryptocurrency, filling the air with a noisy whine along with a blast of warmth. The servers in turn are powered by solar energy from the roof, reducing the normally huge electricity costs for mining, and cutting the impact on the environment.

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2022-12-12 14:13:02 Bank of Russia Backs Crypto Mining Bill But Insists Minted Coins Should Be Exported

The monetary authority in Moscow has expressed support for the latest legislative attempt to legalize cryptocurrency mining. However, the regulator wants the extracted digital currency to be sold outside the country or only under special legal regimes in Russia.

The Central Bank of the Russian Federation (CBR) “conceptually supports” the draft law seeking to legalize the crypto mining sector, but at the same time maintains that the digital currencies obtained in the process should be mostly sold on foreign exchanges and only to non-residents. Russian Interfax news agency, the bank’s press service added that in case the coins are exchanged.

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2022-12-11 14:19:02 Russia Expects Sizable Increase in Crypto Miners’ Share of Power Usage

The crypto mining industry may see a two-fold increase in its share of Russia’s power consumption in 2022, according to a high-ranking official from the Ministry of Energy. The department supports a bill designed to regulate the sector which is likely to be adopted this year.

The share of cryptocurrency miners may reach 1.5 – 2% of Russia’s total consumption of electrical power by the end of 2022, according to the Russian Deputy Energy Minister Pavel Snikkars. During a crypto conference organized by the business news portal RBC, the government official recalled that last year’s figure was around 1%.

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2022-12-10 12:16:02 US lawmakers introduce a bill for EPA to investigate energy consumption by crypto mining

Senators Ed Markey (D-Mass.) and Jeff Merkley (D-Ore.), as well as Rep. Jared Huffman (D-Calif.), introduced new legislation on Thursday. If passed, this bill would direct the Environmental Protection Agency to investigate.

The lawmakers said, “The Crypto-Asset Environmental Transparency Act would direct the EPA to produce a report examining the effect miners using more than 5 megawatts of power have on greenhouse gas emissions.” They further warned that it could jeopardise US energy goals and local power grids.

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