Despite Bitcoin’s slump and soaring Texas energy prices, miners display unexpected resilience

Quick Take In the face of a notable 7% upward adjustment in Bitcoin’s hash rate — one of the most significant this year — and a plummeting price below $26,000, Bitcoin miners have demonstrated remarkable resilience.

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Bitcoin adjusts positively amid Texas heat wave, soaring energy costs

Quick Take Bitcoin’s positive difficulty adjustment of 0.12% marks the 12th of 17 such changes this year, demonstrating its resilience in the face of fluctuating energy costs. The positive adjustment comes at a time when Texas, a prominent hub of Bitcoin mining, grapples with soaring electricity prices resulting from an ongoing heatwave, as per CBS […] The post Bitcoin adjusts positively amid Texas heat wave, soaring energy costs appeared first on CryptoSlate.

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Only Bitcoin Miners With Low Power Costs and High Sustainable Energy Mix Will Survive: JPMorgan

Electricity costs played a vital role in the past year’s bear market as miners struggled to survive, the report said.

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Bitcoin mining stocks are far riskier than Bitcoin itself

Key Takeaways Bitcoin mining stocks have underperformed Bitcoin heavily over the last year Greater competition among miners and higher amounts of energy required means margins are thinner Rising electricity costs and lower value of Bitcoin have also hurt miners immensely  Greater number of variables beyond merely the price of Bitcoin means mining stocks have been […] The post Bitcoin mining stocks are far riskier than Bitcoin itself appeared first on CoinJournal.

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Kazakhstan collected $7M in crypto mining taxes in 2022

Crypto miners paid millions of dollars in energy fees last year following the regulation of mining activities.

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Ethereum's Lifetime Energy Use Before the Merge Equaled Switzerland's for a Year

If Bitcoin’s energy consumption can be thought of as a skyscraper, Ethereum’s energy use post-Merge, would be the size of a raspberry, according to University of Cambridge research.

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Sustainable sources mined over 90% of BTC during January, February

Miners that use sustainable energy sources accounted for 91. 3% of Bitcoin (BTC) mining during the first two months of the year, according to data shared by Climate Tech Vice President Daniel Batten.

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First Bitcoin Mining Powered By Nuclear Energy To Open In The U.S. In Q1 This Year

Positioning bitcoin mining with carbon-free sources, like nuclear energy, offers enormous benefits to the cryptocurrency industry as digital assets grow in popularity, acceptability, and engagement with the broader economy.

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Bitcoin miner Iris Energy expanded capacity by 30% in Dec 2022

Australian bitcoin miner Iris Energy expanded its operating capacity by about 30% in December last year, according to a report released by the company.

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This Year, Bitcoiners Should Quit Their Twitter Addictions

Bitcoin Twitter is a strong and vibrant community, but members should make sure they are in control of the energy they spend there.

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Ethereum’s 2022 in Review: The Merge, MEV and Mayhem

Ethereum’s year was marked by reductions to energy costs and improved scalability, but it was also racked by hacks and “censorship.”

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Research: Miners sent 57K Bitcoin to exchanges in 2022; selling pressure decreasing

This year hasn’t been kind to Bitcoin miners as the invasion of Ukraine in February 2022 triggered a global energy crisis, pushing mining costs through the roof. The post Research: Miners sent 57K Bitcoin to exchanges in 2022; selling pressure decreasing appeared first on CryptoSlate.

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2023: The Year Blockchain Becomes a Sustainability Solution

Blockchain's role in helping the environment can go far beyond energy footprints and carbon credits.

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Eurozone Inflation Receding and Now Pegged at 10%

Coinspeaker Eurozone Inflation Receding and Now Pegged at 10% The cost of living crisis was a major challenge for the region this year as it attempted to bring down energy costs. Eurozone Inflation Receding and Now Pegged at 10%

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5 reasons 2023 will be a tough year for global markets

From inflation to energy shortages and general instability, markets are set for a turbulent year ahead.

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The Merge brings down Ethereum’s network power consumption by over 99.9%

Before the Merge upgrade, in 2022, the energy consumption of Ethereum ranged between 46.31 terawatt hour (TWh) per year to 93.98 TWh per year.

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Shopify users get their hands on Tezos NFTs with new partnership

The Tezos NFT ecosystem gained a lot of traction over the past year due to its low cost of minting and energy efficiency.

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BTC energy use jumps 41% in 12 months, increasing regulatory risks

Despite the European Union rejecting a proposal banning crypto mining earlier this year, more regulations could soon be implemented to mitigate the environmental impacts of crypto mining.

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France to Explore Crypto Tax Treatment Next Year

The self-styled crypto hub won’t just copy-and-paste traditional finance norms, but Bruno Le Maire is also worried about energy consumption

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Argentina's State-Owned Energy Company Moves Into Crypto Mining

YPF is currently supplying power for a 1 megawatt operation and plans to launch a second project eight times larger before the end of the year.

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Bitcoin Mining Consumes Less Energy Than Gaming, Reveals Report

Data shows the Bitcoin mining industry consumes slightly less energy in total compared to the video gaming sector. Bitcoin Mining Energy Consumption Stands At 100 TWh Per Year Right Now According to a recent report released by Arcane Research, while the BTC mining energy consumption has grown significantly in recent years, the industry still makes […]

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Global Bitcoin mining ‘one of the most sustainable industries globally,’ BTC Mining Council claims

The use of sustainable energy in Bitcoin (BTC) mining reached 59.5% globally in Q2 2022, a 6% year-on-year increase from Q2 of last year, the Bitcoin Mining Council (BMC) estimates. The post Global Bitcoin mining ‘one of the most sustainable industries globally,’ BTC Mining Council claims appeared first on CryptoSlate.

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Iran to Shut Down Crypto Mining Farms As Energy Crisis Deepens

During the previous two years, authorities in Iran have shut down around 6,914 unregistered crypto companies. Authorized crypto mining plants in the Islamic Republic will be required to disconnect their energy-hungry coin minting devices on the 22nd of June this year, or the beginning of the Iranian month of Tir. Since 2020, when the administration […]

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Bitcoin Miner Iris Energy Reiterates Hashrate View; Revenue Misses Estimates

The miner’s adjusted EBITDA margin slipped to 48% in the fiscal third quarter versus 72% in the prior quarter and 57% a year ago.

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Sinan Energy’s Carbon Tokenization Blockchain Launches IDO

There is a massive drive for clean energy adoption which has increased demands for renewable energy sources as the world heads towards net-zero carbon. This has opened up the market for renewable energy, making it one of the fastest-growing spheres globally with over $286 billion dollars invested in renewable energy last year alone. The demand […]

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Sustainable energy usage for BTC mining grows nearly 60% in a year

The latest Bitcoin Mining Council report showed that the mining industry is rapidly adopting sustainable energy sources to secure the largest crypto blockchain.

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Little Baby Doge launches P2E gaming after climate change awareness

As we contend with what lies ahead in the new year, 2022, crypto enthusiasts are hunting for crypto’s next big utility. This new energy comes from the potential investors have seen in the alternativThe post Little Baby Doge launches P2E gaming after climate change awareness appeared first on AMBCrypto.

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Another Entire Country Just Banned Crypto Mining

Less than one year after China announced its decision to crack down big time on crypto mining, another country has joined suit in a bid to ease soaring energy prices and blackouts. This week Kosovo, located in southeastern Europe, announced it’s banning mining after spending the last 60 days in a government state of emergency […]

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Kosovo bans crypto mining due to ongoing energy crisis

China's blanket ban on cryptocurrency mining last year unquestionably aided the distribution of Bitcoin's hash power across the globe. But it also could have posed a burgeoning energy crisis in some oThe post Kosovo bans crypto mining due to ongoing energy crisis appeared first on AMBCrypto.

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Here's the 'realistic estimate' for post-Merge sharded Ethereum transactions with rollups

With the cryptocurrency industry entering the mainstream this past year, its underlying issues have also come to the limelight alongside it. Among the most frequently cited is the high energy consuThe post Here's the 'realistic estimate' for post-Merge sharded Ethereum transactions with rollups appeared first on AMBCrypto.

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6 sources of renewable energy that will power the future of Bitcoin mining 

Yes, Bitcoin mining does consume a lot of energy — about 110 terawatt hours per year, the energy equivalent of a small country. The post 6 sources of renewable energy that will power the future of Bitcoin mining  appeared first on CryptoSlate.

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Kazakhstan to Crack Down on “Grey” Crypto Miners, Sweden’s State-owned Power Company Counters FSA’s Mining Ban

Kazakhstan government plans to crack down on unregistered “grey” miners who are consuming twice as much power as “white” or registered miners. “I think we will have the directive (limiting power to unregistered miners) issued before the end of this year because this issue cannot be delayed any longer,” said Deputy Energy Minister Murat Zhurebekov.

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Imagine Mining Bitcoin With Nuclear Power – A Whole New Frontier

Mining bitcoin has generated a lot of debate over the last year regarding electricity and energy usage. Experts believe that a veritable option to revamp the mining industry could be nuclear energy.

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Cardano Under $3 Following Smart Contract Scalability Concerns – But Just How Bad Can It Get For ADA?

Cardano has been one of the most talked-about blockchains in the cryptocurrency community this year. Heads began to turn especially when energy sustainability concerns were being raised as a result of the ongoing debate about Bitcoin’s level of energy consumption.

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Green Bitcoin Miner Planning to Raise $200 Million Ahead of Nasdaq Direct Listing This Year

Iris Energy Pty has also signed new mining equipment-related contracts that would push its mining capacity from the current 0. 7 exahash, which is on track to rise to 4. 5 exahash by 2022-end, to 15.

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'Where will bitcoin be' at the end of this year?

Recent market volatility left even the strongest believers wondering what the fate of the king coin would be, come 2022. Volatility, death crosses, energy FUD news, and crackdowns by regulators left mThe post 'Where will bitcoin be' at the end of this year? appeared first on AMBCrypto.

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Report: Green energy-powered BTC mining increased by 52.2% this year

The use of sustainable energy in Bitcoin mining increased by 52.2% between the first and second quarters of 2021. Bitcoin Mining Council (BMC), an organization that seeks to promote the use of green energy for Bitcoin (BTC/USD) mining, unveiled this bullish news through its first report, which offered details on the current status of the […] The post Report: Green energy-powered BTC mining increased by 52.2% this year appeared first on Invezz.

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Elon Musk’s reputation plummets following his Bitcoin energy attack

Earlier this year, Elon Musk was considered a crypto hero following Tesla’s $1.5 billion Bitcoin buy. The post Elon Musk’s reputation plummets following his Bitcoin energy attack appeared first on CryptoSlate.

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Chia Is Eyeing to Launch an IPO This Year

Chia, a cryptocurrency project created in 2018 that uses storage for its consensus, is eyeing a public offering this year, according to statements from its COO, Gene Hoffman. The company just received an influx of investments that are pointing it to become the next ‘green bitcoin substitute,’ due to its relatively low energy consumption compared […]

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Iranians Now Have to Buy Bitcoin, Can’t Mine After Temporary Ban

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Banking system consumes two times more energy than Bitcoin: Research

According to Galaxy’s estimates, the annual energy usage of Bitcoin stands at 114 TWh, while the banking industry consumes over 260 TWh each year.

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Will ‘clean’ Bitcoins and not ‘Blood coin from China’ become a fad?

Recent studies have shown that Bitcoin consumes close to 77.8 TWh every year, making the total energy consumption of the network as much as Chile’s. Bitcoin’s mining activity in particular has beeThe post Will ‘clean’ Bitcoins and not ‘Blood coin from China’ become a fad? appeared first on AMBCrypto.

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Shark Tank’s Kevin O’Leary Calls Bitcoin “Blood Coin,” says, “Institutions Will Not Buy Coin Mined in China”

Shark Tank’s Kevin O’Leary says he will only buy Bitcoin that is mined sustainably in countries that use clean energy. “I see over the next year or two, two kinds of coins. Blood coin from China, (and) clean coin mined sustainably in countries that use hydroelectricity, not coal,” he told CNBC’s “Capital Connection” on Monday.

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Bitcoin Mining: The Cold, Hard Truth

Last month, The Guardian’s Lauren Artani wrote, “It’s not just the value of bitcoin that has soared in the last year – so has the huge amount of energy it consumes”. Why, exactly, does bitcoin consume so much energy? It has a do with the mining process.

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China’s Inner Mongolia Plans to Shut Down Bitcoin Mining Operations by April This Year

Inner Mongolia, an autonomous region in northern China, is planning to shut down all cryptocurrency mining activities in the area by April 2021, as part of efforts to improve energy efficiency. Regulating the Electrical Consumption in Inner Mongolia The government of Inner Mongolia will also stop approving new projects in energy-intensive industries such as steel […]

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Is there a solution to Bitcoin’s high energy consumption?

Bitcoin energy consumption has increased to more than 75 TWh, making it the highest level since late 2020. Every year, the world’s largest crypto network consumes close to 77.8 TWh according to DigiThe post Is there a solution to Bitcoin’s high energy consumption? appeared first on AMBCrypto.

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Kadena Looks to Capture DeFi Energy With New Decentralized Exchange

Kadenaswap, the hybrid blockchain protocol's coming DEX, will begin a rollout later this year.

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Stormy Weather for Ag, Energy Markets?

The energy and agricultural markets could see more weather-related swings through this year and in 2021 if the La Ni

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Oil 101: How Easy Money Enabled the Shale Revolution, Feat. Tracy Shuchart

An oil and commodities expert breaks down how the shale revolution reshaped global energy power and why oil went below $0 earlier this year.

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