Crypto mining company Xive shut down a 2,500 rig mine in South Kazakhstan due to lack of sufficient electricity supply from the national grid, co-founder Didar Bekbau told CoinDesk on Wednesday.Kazakhstan has been grappling with electricity shortages, partly caused by an influx of crypto miners from China. The southern part of the country is particularly vulnerable as the … [Read more...] about Crypto Miner Xive Shuts Down South Kazakhstan Mine Due to Electricity Woes
Electricity
China’s NDRC to Consider Punitive Electricity Prices for Crypto Mines
China’s National Development and Reform Commission (NDRC), said on Tuesday that in the next stage of its crypto mining crackdown it will consider “punitive electricity prices” for some crypto mines.The country’s top economic planning body might implement this measure for companies that mine crypto, but only pay residential electricity prices, said NDRC’s Meng Wei in a press … [Read more...] about China’s NDRC to Consider Punitive Electricity Prices for Crypto Mines
Kazakhstan Won’t Restrict Electricity to Lawful Crypto Miners, Minister Says
Lawful crypto mines will not face restrictions or be disconnected from the national grid, as long as they don’t compromise the country’s energy security, Kazakhstan’s Minister of Energy Magzum Mirzagaliyev said at a meeting with the mining industry, according to a ministry press release on Wednesday. Source link … [Read more...] about Kazakhstan Won’t Restrict Electricity to Lawful Crypto Miners, Minister Says
Global Bitcoin mining industry’s sustainable electricity usage has grown to 57.7%
The Bitcoin Mining Council (BMC) has recently published the findings of its Q3 2021 survey, which revealed that the global Bitcoin (BTC) mining industry continues increasing the utilization of sustainable energy.The BMC is a voluntary association of Bitcoin miners, founded in May 2021 with support from some of the largest Bitcoin mining companies along with MicroStrategy and … [Read more...] about Global Bitcoin mining industry’s sustainable electricity usage has grown to 57.7%
Bitcoin electricity consumption falls to November 2020 levels: Data
Bitcoin’s total estimated annual electricity consumption has plummeted nearly 60%, falling from the all-time peak above 143 terawatt-hours (TWh) in May to as low as 62 TWh in early July, according to data from Cambridge Bitcoin Electricity Consumption Index (CBECI). This is the lowest energy consumption rate recorded since early November 2020.At the time of writing, Bitcoin’s … [Read more...] about Bitcoin electricity consumption falls to November 2020 levels: Data