How The EU Will Imposed Energy Labels On Bitcoin Miners
The European Commission (EC) released an update on the energy strategy to be adopted by the European Union in the coming years; this might bring significant changes for Bitcoin miners and crypto miners. The Commission is moving forward with the European Green Deal and intends to improve the region’s energy efficiency by integrating renewable energy […]
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Kazakhstan has imposed new tax rules on crypto miners, this new taxation system shall be differentiating the tax rates on crypto mining. It also includes crypto miners that use renewable energy resources. President of Kazakhstan Kassym-Jomart Tokayev has signed this law which shall be amended into the country’s Tax Code. The amount of tax levied […]
The Energy Secretary of Argentina eliminated power subsidies for cryptocurrency miners, raising the cost of energy to almost 4x what the miners were paying before. The measure affects customers of the wholesale power market in the Tierra del Fuego province, one of the provinces more notably occupied by miners in the country due to its specific climate characteristics.
Argentina Eliminates Subsidies for Cryptocurrency Mining
The government of Argentina has eliminated the subsidies that applied to power used by cryptocurrency miners. This is the decision that the Energy Secretary....
Bitcoin miners are uniquely flexible energy consumers we can use as energy tools to help solve several energy problems.
The use of renewable energy for cryptocurrency mining has seen considerable growth, according to a new report. The rising energy demand of proof-of-work cryptocurrencies such as Bitcoin (BTC) has been a hotly debated topic. But the 3rd Global Cryptoasset Benchmarking Study by the University of Cambridge shows that 76% of cryptocurrency miners use electricity from renewable energy sources as part of their energy mix.The study found that over 39% of the total energy consumed by PoW cryptocurrencies including Bitcoin, Ether (ETH), Bitcoin Cash (BCH) and others comes from renewable energy....
Authorities in the energy-rich Russian region of Irkutsk have imposed hefty fines on crypto miners this year for illegal use of electricity to produce digital currencies. Power utilities have also filed hundreds of lawsuits, a report reveals, quoting prosecutors.
Irkutsk Crypto Miners Pay 100 Million Rubles in Fines in 2022
Cryptocurrency mining has become a profitable business for many companies in Russia’s energy-rich regions, and an alternative income source for ordinary Russians. Despite the generally low rates of electricity for commercial purposes, many have been....