Earlier today, members of the European Parliament’s Committee on Economic and Monetary Affairs in the European Parliament voted against a version of the Markets in Crypto Assets, or MiCA, bill that could have effectively banned the proof-of-work-based cryptocurrencies within the EU. This comes as a huge relief for the crypto industry, whose representatives had previously warned about the threat of a hardline regulatory scenario. MiCA is a regulatory framework that contains 126 articles, as well as a detailed plan of their implementation by the EU’s and member states’ institutions. The draft was introduced by the European Commission back in 2020 …

Cointelegraph sat down with Leah Wald, CEO of digital asset investment firm Valkyrie Investments, to learn more about the importance of a Bitcoin (BTC) exchange-traded fund (ETF) and the future of digital assets. For context, Valkyrie Investments was launched in 2021 and is one of the only asset managers to have three Bitcoin-adjacent ETFs trading on the Nasdaq. Valkyrie launched a Bitcoin Strategy ETF in October 2021, which offered indirect exposure to BTC with cash-settled futures contracts following a United States Securities and Exchange (SEC) approval for a similar ETF from ProShares. Valkyrie also has a balance sheet opportunities ETF …

Michael Schmid first made contact with Bitcoin (BTC) in 2013; he installed Bitcoin core, mined a few BTC then bought some Bitcoin from MtGox. Schmid told Cointelegraph that shortly after the infamous Mt. Gox hack, in which Schmid lost his Bitcoin, he also “lost interest”. Timewarp to 2020 and Schmid got “very active again,” as concerns about the “endless money printing” troubled him. “With that [money printing] I found that I don't agree at all with Fiat money and believe that Bitcoin should be the global reserve currency and a store of value.” A studious and curious mind, Schmid bored …

The Guangdong province’s Development and Reform Commission has reportedly busted an illegal crypto mining farm secretly operating in an electric vehicle charging station. The secret crypto mining farm was busted in the city of Guangzhou, where law enforcement agencies have constantly been making inspections around cities to enforce and eradicate any form of mining operations in the region, reported a local publication. The covert mining operation used over 190 crypto mining machines estimated to be worth 5 million yuan ($7,91,450), which were seized on the spot. The authorities claimed that even though mining operations consume a lot of energy, they …

Publicly traded crypto mining company HIVE Blockchain Technology has signed a deal to buy ASIC chips from semiconductor manufacturer Intel that will be used in their new custom mining devices. HIVE has arranged for the new devices to be made by a third-party custom design manufacturer that will integrate the Intel chips into new air-cooled Bitcoin (BTC) mining devices. HIVE expects that the new devices will nearly double its aggregate Bitcoin mining hash rate from 1.9 to 3.8 Exahashes per second (Eh/s). They will begin arriving ready for use starting in the second half of 2022. Intel stated in its …

The parliament of the European Union has scheduled a vote on a framework aimed at regulating cryptocurrencies after addressing concerns over proof-of-work mining. In a Monday Twitter thread, European Parliament economics committee member Stefan Berger said the committee will vote on the Markets in Crypto Assets, or MiCA, framework on March 14 following the submission of a final draft of the bill. As the rapporteur — the person appointed to report on proceedings related to the bill — Berger said the legislation will no longer include text which some interpreted as a possible ban on proof-of-work crypto mining. “With MiCA, …

For the first time since November 2021, the Bitcoin (BTC) mining difficulty adjustment has dropped, correcting 1.49%. The move follows a succession of 6 consecutive positive difficulty adjustments, in which the mining difficulty and hash rate hit all-time highs. The average hashrate over the past two weeks fell to 197.19 exahashes per second (EH/s), and the average block time exceeded the 10-minute target, at 10 minutes 09 seconds. As a result of the difficulty adjustment, miners competing to solve the next valid block find it marginally easier. The difficulty adjustment is one of the Bitcoin protocol’s most prominent features. Every …

A New York State proposal to suspend fossil fuel-powered proof-of-work mining for three years across the state has gained support from two more Assembly members. Members Amy Paulin and Ken Zebrowski have thrown their names in along with 43 other cosponsors for bill A7389B. In addition to the three-year suspension of mining at former fossil fuel power plants, the bill would require the New York State Department of Environmental Conservation (NYSDEC) to assess the state’s crypto mining industry. The assessment would determine the impact on water and air quality and greenhouse gas emissions. @annakelles is touting a build of of …

Major global cryptocurrency exchange Bitfinex is finally moving forward with its security token platform (STO) in Kazakhstan, opening the first day of trading. Bitfinex Securities, Bitfinex’s blockchain-based investment platform, is officially starting on Tuesday, the company representatives announced to Cointelegraph. Announced in September 2021, the new STO platform is regulated within Kazakhstan’s national financial hub known as the Astana International Financial Center (AIFC). Bitfinex Securities specifically operates from a special economic zone in Kazakhstan, which has an independent court system, according to Bitfinex Securities chief technology officer Paolo Ardoino. The platform is not available to citizens or residents of countries …

Bitcoin network’s proof-of-work mining consensus has been a topic of evironmental, social and governance (ESG) debates for a long time and a new study may only add to the growing controversy around BTC's carbon footprint. A new research report titled “Revisiting Bitcoin’s carbon footprint” published in the peer-reviewed scientific journal Joules has highlighted that the Chinese crypto mining ban might not have contributed to the reduction in the carbon footprint of the Bitcoin network as propagated by many Bitcoiners, on the contrary, it has increased by 17%. China was the primary hub for Bitcoin miners before May 2021 and accounted …

Crypto-friendly digital payments tech firm Block, Inc. (formerly known as Square) posted $1.18 billion worth of gross profit in Q4, representing a growth of 47% over the same period in 2020. The firm led by Bitcoin maxi Jack Dorsey has multiple business arms including Cash App, Square, and the freshly acquired buy now pay later (BNPL) firm Afterpay after the $29 billion deal officially closed at the end of last month. Block’s 2021 Q4 report was posted on Feb. 24, and the firm revealed significant gross profit increases across Cash App and Square, with each firm generating $518 million and …

Russian Bitcoin (BTC) miners are reportedly running as usual despite the government’s invasion of Ukraine this week. According to estimates from the Cambridge Bitcoin Electricity Consumption index, miners in Russia accounted for around 11.2% of the global BTC hash rate as of August 2021. With sanctions on the Russian government coming from the U.S. and allied NATO nations, it is unclear how the local BTC sector and the broader market will be impacted. While some crypto mining firms such as Ethereum focused Flexpool have halted their services in Russia in response to the invasion, BTC miners Compass Mining confirmed to …