Crypto asset manager Valkyrie will have an exchange-traded fund with exposure to Bitcoin mining firms available for trading on the Nasdaq Stock Market starting tomorrow. A spokesperson for Valkyrie told Cointelegraph that the firm’s Bitcoin Miners ETF will begin trading on the Nasdaq on Tuesday under the ticker WGMI. According to a Jan. 26 filing with the Securities and Exchange Commission, the investment vehicle will not offer direct exposure to Bitcoin (BTC), but at least 80% of its net assets will be through securities of companies that “derive at least 50% of their revenue or profits” from BTC mining or …

China’s crackdown on mining has led miners to search for other countries to continue their operations. Promises of reduced costs led some to Argentina. However, the country’s government has now applied new rates for crypto miners in the province of Tierra del Fuego. Argentina’s Energy Secretary of the Ministry of Economy published and announced resolution 40/2022, eliminating the energy government subsidies for crypto mining energy usage. The new rates make mining in the country up to four times more expensive than it used to be. According to the resolution, the hourly and seasonal energy used by miners is intense and …

With Winter Storm Landon expected to hit parts of Texas this week, major crypto mining firms are powering down in anticipation of high demands on the state’s power grid. Speaking to Cointelegraph on Wednesday, Riot Blockchain’s communications director Trystine Payfer said that the company’s data center in Rockdale already had “99% of [its] power currently shut off” since beginning curtailments on Feb. 1, with demands on the grid expected to peak on Thursday night. In addition, Bitcoin (BTC) mining firms with representation in the Texas Blockchain Council sent a letter to Texas Governor Greg Abbott informing him they planned to …

As cryptocurrency mining activity grows increasingly common in Russia, one local region is struggling to maintain power stability amid massive inflows of new crypto mining operations. Russia’s Irkutsk Oblast, a federal region and Russia’s major center of trade routes from China, experienced a fourfold increase in energy consumption in 2021 due to mining activities, local news agency TASS reported on Wednesday. Yevgeny Vechkanov, head of technology and development at the local energy firm Irkutsk Electric Networks, linked the rapid growth of crypto mining operations to the major crypto rally in 2021 as well as China’s cryptocurrency ban enforced in September. …

With roughly nine months until major federal and state elections, New York State gubernatorial candidate Jumaane Williams is making crypto mining an issue in his campaign, criticizing the lack of regulatory clarity. Speaking to climate activists and protestors at Seneca Lake in upstate New York on Monday, Williams called on current Governor Kathy Hochul to deny permits for proof-of-work crypto mining firms seeking to operate in the state, citing potential environmental concerns as well as any “harmful” economic impact. The gubernatorial candidate cited China’s crackdown on proof-of-work miners to back his claims. “20% of America’s mines operate in New York …

Hopium is back on the menu for solo Bitcoin (BTC) miners. A circa $240,000 reward, or 6.25 BTC, was generated by yet another solo miner this morning. This time, the odds were less than 20%, according to Con Kolivas, a Bitcoin software engineer and administrator for ckpool, whose name takes his initials. It’s the fourth “blockfind” for the ckpool since Jan. 11. Kolivas tweeted his congratulations to the miner who joins the ranks of the few and fortunate successful solo BTC miners. Congratulations to a miner with 1.14PH who solved the 264th solo Bitcoin block at https://t.co/UWgBvLkDqc ! https://t.co/5BsWlYkYJt There …

On Jan. 27, a group of eight U.S. lawmakers, led by Senator Elizabeth Warren, sent letters to the world’s six largest Bitcoin mining companies, demanding to reveal the detailed data on their electricity consumption. This isn’t the first time Senator Warren requested this information from a mining operation — last month a similar letter was sent to Greenidge Generation, which uses a natural gas plant to power its facility. These moves highlight the increasing regulatory pressure on crypto mining businesses in the United States. But, as last week’s Congress hearing showed, the growing scrutiny might turn out to be an …

Bitcoin (BTC) seems to be on everyone’s mind lately as the world recently witnessed the price of BTC take a rather unexpected bearish turn this month. On January 21, 2022, Bitcoin reached six-month lows, sinking below $40,000 for the first time in months. While some panicked, other industry experts pointed out that the Bitcoin network has become verifiably stronger than ever before. The growth of the Bitcoin network has become apparent, as hash rate figures for BTC continue to set new highs this month. For example, on Jan. 22, the BTC network recorded an all-time high of 26.643 trillion with …

Although the modern internet connects us like never before, one thing that younger generations have never truly experienced is the feeling of genuine privacy. Even older generations have forgotten what life was like before our every thought and action were tracked. Web3 envisions an open, trustless, permissionless internet where users can interact with each other peer-to-peer without giving up ownership control, privacy or relying on intermediaries. Underlying that vision, blockchains are one of the most important tools. They eliminate the need for trusted third parties and help to create a direct relationship between users and service providers, recording the rules …

It was only a matter of time before China slapped a ban on Bitcoin (BTC) mining, trading and crypto services. To do anything with Bitcoin anywhere in the People’s Republic, one needs a special exemption. The Chinese government’s given reason for the Bitcoin crackdown is to reduce its well-documented climate impact. Regardless of the amount of truth in this explanation, one thing is clear: China’s righteous anger toward electricity-guzzling and carbon-spewing mined cryptocurrencies in the service of Earth’s climate is only the first shot in an impending global showdown over Bitcoin and other crypto projects that rely on proof-of-work (PoW), …

Over the previous year, Ether (ETH) has increased in value to the point that it significantly outperformed Bitcoin (BTC) in terms of returns. The rise of Ethereum has made mining on its network more lucrative over time. This appears to have resulted in additional miners, resulting in an expansion of the network's hash rate. The hash rate for Ethereum has hit a new high, approaching record levels of 1.11 PH/s according to data from Glassnodes on Jan. 27. The previous ATH was reached previously on Jan. 13, when the ETH price fell from $4,460 to $3,160. When the hash rate …

Crypto asset manager Valkyrie has filed an application with the United States Securities and Exchange Commission to trade an exchange-traded fund with exposure to Bitcoin mining firms on the Nasdaq Stock Market. In a Wednesday SEC filing, Valkyrie said its Bitcoin Miners ETF will not invest directly in Bitcoin (BTC) but at least 80% of its net assets would offer exposure to the crypto asset through securities of companies that “derive at least 50% of their revenue or profits” from BTC mining or providing hardware or software related to mining. The filing added Valkyrie would invest up to 20% of …