Working Group to Develop Efficiency Standard for Crypto Mining in Russia
Crypto industry experts have formed a working group to draft a standard for energy-efficient and profitable cryptocurrency mining in Russia. The rules will aim to help developers and data center operators offer investors increased hardware uptime. Russia Prepares to Improve Efficiency of Mining Facilities in 2023 A group of crypto specialists have teamed up to elaborate a standard that should improve the overall efficiency of mining and in particular the use of energy to mint digital currencies. The set of rules and procedures will be designed to increase the time the expensive....
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Authorities in Brussels are taking steps to reduce power consumption, including in cryptocurrency mining, as the EU faces limited energy supplies from Russia, the reliance on which it has been trying to lower. New energy efficiency labeling is to address the growing electricity usage in the crypto sector. EU to Develop Energy Efficiency Label for Data Centers Amid Increasing Consumption in Mining The European Union plans to introduce a label for energy efficiency in efforts to counter the growing electricity consumption in data centers such as those mining cryptocurrencies. According to....
A crypto working group has held its first meeting at Russia’s parliament. Its members have been tasked to put forward legislative proposals designed to comprehensively regulate cryptocurrencies and related matters in the Russian Federation. Working Group Gathers at State Duma to Draft Crypto Regulations Lawmakers, government officials, and experts have met at the lower house of the Federal Assembly of Russia, the State Duma, to discuss and propose new legislation aimed at regulating the circulation of cryptocurrencies in the country, the head of the working group, Alexey Gordeev,....
The working group will streamline processes for bitcoin miners looking to upgrade to the Stratum V2 communication protocol that connects miners to the network.
While supporting crypto mining companies, the Russian lawmakers are still not sure whether they should ban individuals from mining crypto. As Russia continues to work on new regulations for the cryptocurrency industry, the Russian Ministry of Finance has expressed fresh support for Bitcoin (BTC) mining.Russia should encourage the development of industrial-level cryptocurrency mining in the country, the Ministry’s director of the financial policy department Alexey Yakovlev urged.There’s also no point in banning retail or household Bitcoin mining, Yakovlev said, as the local publication....
ARPA, a blockchain-based privacy-preserving computation network, has announced that The Institute of Electrical and Electronics Engineers P2830 standard has reached the ballot stage of the IEEE Standard Association (SA) Standard Development Process. Alibaba led the working group in which ARPA is participating, with representation from Shanghai Fudata, Baidu, Lenovo Group, Zhejiang University, Megvii Technology, and […]