Search results for: mining

The Biden administration's proposed tax on crypto mining is generating significant debate within the industry. Will it promote sustainability or drive mining firms out of the country?

The cost of mining a single Bitcoin in the US has surged to $17,000 in 2023, driven by soaring electricity rates. This comes alongside the FDIC's assessment of Signature Bank's collapse due to poor management and risk practices. Meanwhile, the IRS plans to issue crypto tax guidance within the next 12 months, signaling a potential shift in regulatory approaches.

A new bill has ignited a heated debate in Texas about Bitcoin mining, with supporters claiming it will create jobs and economic growth, while environmentalists worry about the impact on the local environment. The proposed legislation aims to regulate and promote the mining of Bitcoin and other cryptocurrencies, and has attracted supporters who are rallying to show their support. But what does this mean for the future of crypto mining in Texas?

The top technology-driven cryptocurrency mining firm, BIT Mining Limited, has reported that its subsidiary, BTC.com, was the target of a cyberattack on December 3, 2022....

Many bitcoin miners have been forced to shut down as a direct result of the ongoing snowstorm in the United States. The Arctic blast and...