Tags: Electricity

Cambridge researchers revise the widely cited index in response to evidence indicating periodic overestimation of Bitcoin mining’s electricity consumption.

Laos Cuts Power Supply To Crypto Mining Firms, Cites Production Concerns

According to the report, Europe is home to nine out of the ten least profitable countries for Bitcoin production, determined by household electricity costs.

The tax is intended to reduce greenhouse gas emissions, electricity costs and local environmental pollution, but has not been kindly received by the crypto community.

The tax would be phased-in at 10 per year over three years and covers electricity generated from both on and off-grid sources.

A former facilities worker in the U.S. state of Massachusetts is alleged to have stolen nearly $18,000 worth of electricity to run 11 miners in a school’s crawl space.

Energy producers finally have incentives to work with bitcoin miners.

To start mining Bitcoin at home, one needs to obtain a Bitcoin wallet and a mining rig, install the Bitcoin mining software, and join a mining pool.

The miner has also installed the first Buzzminers, computers it designed using Intel‘s new bitcoin mining chip.

The country has been cracking down on mining to deal with power shortages.

The newfangled device looks like a high-end space heater but uses integrated circuitry to process bitcoin transactions.

Computing power on the Bitcoin network dropped about 40 over the weekend.