The government of Kosovo has ceased crypto mining in the country owing to power constraints during the winter season. Kosovo's minister of Economy, Artane Rizvanolli, has decided to stop crypto mining following a recommendation from the Technical Committee on "Emergency Measures for Energy Supply," according to a report by local outlet Gazeta Express. The report notes that the government made the decision after Kosovo's power supply fell below the stipulated level, and it began to impose electricity cuts during peak usage periods. According to Rizvanolli, the government decided to establish a technical committee to evaluate emergency energy supply strategies in …

New York-based crypto-mining service provider Foundry USA takes the lead to become the world’s second-largest Bitcoin (BTC) mining pool after taking up a 15.42% share of the network. Data from BTC.com shows that Digital Currency Group-owned Foundry USA stands behind the pool leader AntPool by a hash rate of just 4,000 PH/s, which contributed to a 17.76% network share at the time of writing. The rise in the participation of American entities can be attributed to China’s recent blanket ban on crypto trading and mining activities. The ban forced a large-scale migration of local Bitcoin miners, who now reside in …

Bitdeer Technologies Holding Company, a Singapore-based Bitcoin (BTC) mining corporation, has announced that it has entered into a definitive merger agreement with Blue Safari Group Acquisition Corp. for a business combination of Blue Safari and the miner. According to the announcement, the two firms are expected to merge and be renamed Bitdeer Technologies Group, retaining their NASDAQ stock market listing. Bitdeer is a Singapore-based company that focuses on the cryptocurrency mining industry. The Bitcoin mining company currently has five proprietary mining data centers in the United States and Norway. According to the announcement, the transaction positions Bitdeer as a potential …

Although digital currencies have skyrocketed in value throughout the year, Nvidia has not made any significant profits from its cryptocurrency mining processor (CMP) line. According to Nvidia's third fiscal quarter report, the company's CMP sales dropped by 60% sequentially in the most recent quarter, with sales of the product line expected to drop even further in the fourth quarter. In its quarterly financial statement, Nvidia said CMP sales fell from $266 million in the second quarter to $105 million in Q3, which ended in October. Nvidia claims to have made $526 million in revenue throughout the product's existence, roughly 3% …

Sri Lanka joins the global crypto adoption drive after setting up a committee for exploring and implementing blockchain and crypto mining technologies. A letter shared on Oct. 8 by Sri Lanka’s director general of government information, Mohan Samaranayake, shows that the authorities have approved a recent proposal that aims to attract investments in the country’s blockchain and cryptocurrency initiatives. According to Samaranayake, the Sri Lankan authorities have identified the need to develop “an integrated system of digital banking, blockchain and cryptocurrency mining technology” as a means to stay on par with global partners and international markets. He added: “This committee …

Bitcoin (BTC) might have outperformed traditional financial markets regarding investment returns, but the cryptocurrency still fell behind Bitcoin-related companies. The price of BTC climbed by about 290% year-over-year in which it surged from $10,695 to a little over $42,000. In comparison, shares of Marathon Digital Holdings (MARA), one of the largest North American crypto mining companies, rose by 1,641% in the same period. Institutions-led pump More crypto mining firms outran spot BTC prices in terms of YoY returns. For instance, Canada-based Bitfarms (BITF) surged 1,736%, while Hut 8 Mining (HUT) and Riot Blockchain (RIOT) rallied by 1,010% and 913% in …

Russian cybersecurity firm Kaspersky has detected more than 1,500 fraudulent entities targeting potential crypto investors and miners just in the first half of 2021. Kaspersky’s research shows that 0.60% of users from South African countries have already been targeted by malicious crypto miners. The report also suggests that the most common methods of duping unwary users involved false advertisements claiming to sell mining equipment and fake websites posing as crypto exchanges. Kaspersky’s data based on anonymized statistics revealed that 0.85% of crypto investors from Kenya and 0.71% Nigerians were targets of crypto-miner malware, while investors from Ethiopia (3.68%) and Rwanda …

Iran’s Ministry of Industry, Mine and Trade reportedly dismissed claims by leading power company Tavanir that blamed illegal cryptocurrency miners for the ongoing power shortages in the country. According to a report by the Financial Tribune, Alireza Hadi, the ministry’s director of investment and planning, said that the figures announced by Tavanir “seem to be highly exaggerated.” Hadi questioned Tavanir’s claims that illegal mining activities consume 2,000 megawatts of power. “This amount would equal power used by 3 million pieces of hardware,” he said. While mining cryptocurrency has been legalized by the Iranian government, Tavanir blames unregistered miners for nationwide …

The team behind mining software NBMiner claims to have partially cracked Nvidia’s anti-mining limitations. Back in June Nvidia implemented an algorithm called Lite Hash Rate, or LHR, on all graphics cards from its RTX 30 series in an attempt to curb crypto mining. The limiter works on both the BIOS and driver level detecting mining algorithms to drastically reduce its mining power by up to 50% of its original capability. At the time, the company claimed that miners were disrupting its supply chain, consequently increasing the price of its graphics cards due to low supply. Nvidia prioritized its gaming user …

Bitcoin’s (BTC) rapid recovery above $46,000 has renewed calls for a $100,000 BTC price by the end of 2021, while the effects of China’s crackdown on the mining industry are slowly beginning to fade as the Bitcoin network hash rate shows signs of recovery. One of the side benefits of China’s crackdown is that it has lowered the barriers of entry into the Bitcoin mining space, which has been shown to provide profits in both bull and bear markets. Bitcoin mining is one of the few ways that investors can acquire BTC without directly purchasing it from the market, and …

The recent crackdown on Bitcoin (BTC) and crypto mining in Iran has reached a new dimension, with the government banning the activity over the summer. According to a report by Bloomberg, President Hassan Rouhani announced the blanket ban on Bitcoin mining in the country in an address on state television on Wednesday. The nationwide prohibition will reportedly last until September, with the government keen on ensuring access to electricity for domestic consumption during the hot summer months, which are historically peak periods for power demand. As part of his address, President Rouhani alleged that the majority of the crypto mining …

Blockcap, one of North America’s fastest-growing Bitcoin (BTC) mining companies, has secured sizable investments from some of crypto’s biggest names, setting the stage for significant expansion in the year ahead. Off The Chain Capital and Foundry Digital, a subsidiary of Digital Currency Group, contributed to the $75 million haul, Blockcap announced Wednesday. The funding will go toward scaling the company’s mining operations and promoting the continued growth of digital assets in the United States. Blockcap was founded in 2020 by a group of blockchain veterans. It now commands a fleet of roughly 12,000 machines mining around 7 BTC per day. …