Swedish Regulators Call for EU Ban on Crypto Mining, Power Company Defends In...
Alarmed by the rising energy needs of cryptocurrency mining, Sweden’s financial and environmental regulators have recently proposed an EU-wide ban on proof-of-work coin minting. The Swedish officials believe this would encourage a move towards a more energy-efficient extraction of bitcoin while supporting the transition towards climate neutrality in Sweden and Europe. A state-run power company warns, however, that restrictions could have an adverse effect on global carbon emissions. Expensive Bitcoin Generates More Emissions, Swedish Authorities Allege The rising value....
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In Sweden, financial and environmental regulators want to ban PoW mining. Unfortunately, they forgot to add Vattenfall to the email. And Sweden’s biggest green energy power company categorically rejected their claims on national public television. Ouch. This is a real-life example of the game theory that protects Bitcoin. And more evidence that proves that Bitcoin […]
“The claim that Bitcoin miners jeopardize the electricity network is completely misinformed,” says EU-based fund manager Melanion Capital. A Swedish financial watchdog’s call for a European Union-wide ban on proof-of-work (PoW) crypto mining, mainly known as the method of minting new Bitcoin (BTC), has received backlash from crypto-related fund managers. Melanion Capital, a Paris-based alternative investment firm known for its Bitcoin ETF, addressed the Swedish Financial Supervisory Authority and Swedish Environmental Protection Agency’s call to ban PoW mining across Europe. “The claim....
KnCMiner, who recently won a lawsuit against complainants who had sued over late or failed delivery of one of the company’s previous iterations of bitcoin mining hardware (the Titan) , has filed bankruptcy ahead of July’s mining reward halving. The Swedish Bitcoin mining company’s CEO Sam Cole cited energy taxes and uncertainty about the future of the Bitcoin mining market over the weekend in an interview with Swedish website Breakit.se. 44 percent of our income goes to energy taxes. If we had had that the rest of this industry, so we had not gone bankrupt today. But we do not know if or....
The government in Norway is considering ways to limit the environmental impact of cryptocurrency mining and may support Swedish proposals to that end, including a European ban on proof-of-work mining. The European Commission has revealed it is already working to promote a transition to “more sustainable” protocols.
Extensive Use of Renewable Energy for Mining Is Hard to Justify, Norway Minister Says
Authorities in Norway are mulling over potential policy measures to deal with the effects of crypto mining on the environment, the country’s minister....
Amid the loud grandstanding in the ASIC wars, one quiet player has been keeping its powder dry. KnCMiner, a joint venture between an IT consulting firm and a chip designer, recently opened up preorders for its bitcoin mining products. And this week, it announced increases in the performance specifications for its two units, increasing them to a maximum 200 and 400 Gg/s. Sam Cole, cofounder of the company, explains that it prefers to under promise and over deliver. CoinDesk spoke to him about the company's plans. KnCMiner was conceived in January 2012, when four year-old Swedish IT....