Cryptonews Tags Crypto Mining

# Crypto Mining (Page 6)

Bitmain Denies Involvement in TSMC-Huawei Supply Chain Probe

Bitmain clarifies it has no role in TSMC's Huawei supply chain investigation, reaffirming focus on crypto mining tech.

, by Hongji Feng

Putin Signs Second Russian Crypto Mining Law as Nation Prepares to Tax Miners

Vladimir Putin has signed a new law that will “transfer control” of a new Russian crypto mining registry to the country’s tax body. According to a report from Izvestia, the nation’s Federal Tax Service (FTS) will now take control over a registry of industrial crypto miners. Home-based miners...

Russian State, Crypto Miner BitRiver Aim for BRICS Expansion

The Russian state and the nation’s biggest crypto miner BitRiver have unveiled plans to build mining data centers in BRICS nations. Per RBC, the deal involves the Russian Direct Investment Fund (RDIF), the country’s sovereign wealth fund. The RDIF and BitRiver say they will work together to...

Russia Wants to Tax Crypto Miners on Unrealized Gains

The Federal Tax Service (FNS) has unveiled plans to tax Russian crypto miners on unrealized gains, meaning they may have to pay taxes on coins they are yet to sell. Per the Russian newspaper Vedomosti, the FNS wants to launch a “two-stage” tax system for crypto miners. Alexey Katyayev, the...

BitRiver CEO ‘Worth $230M,’ as Russia’s Crypto Mining Growth ‘Outpaces US’

The BitRiver CEO Igor Runets is worth $230 million, a Bloomberg article has claimed. And the crypto mining chief says that Russia’s growth in the sector now outpaces that of the United States. The Bloomberg piece claimed that Runets was “building a fortune” from President Vladimir Putin’s...

Swan Bitcoin Sues Former Execs for Alleged Collusion with Tether to Steal Bitcoin Mining Operation

Swan Bitcoin took legal action this week against several former employees and a competitor, Proton Management. The company accused them of a deliberate attempt to undermine and seize its Bitcoin mining operations. This ongoing legal dispute in the US District Court for the Central District of...

, by Shalini Nagarajan

Russia’s Dagestan Discovers Illegal, Subterranean Crypto Mining Farms

Illegal crypto miners in the Russian republic of Dagestan have started building “farms” underground to avoid detection as they steal power from grids. Per TASS and a Telegram post from the Dagestan’s Cabinet of Ministers, police officers and energy officials raided a subterranean crypto mining...

Russian Finance Ministry Wants to Tax Crypto Miners on Their Energy Use

The Russian Finance Ministry is likely to begin taxing crypto miners based on their electricity usage, rather than the value of their token sales, a top official has claimed. The state-run news agency TASS reported that Deputy Finance Minister Ivan Chebeskov said on September 18 that his...

New Crypto Mining Hub? Russian Region to Build 15 New Data Centers

Russia’s crypto pivot is continuing apace, with the northeastern region of Komi Republic announcing plans to build 15 new crypto mining data centers. Per a report from TASS, the Komi regional governor Vladimir Uyba said the first two of the 15 new data centers will be built in Mikun and...

Russian Ministry Wants to Let Crypto Miners Have Surplus Electricity

The Russian Ministry of Energy says it is “ready” to grant crypto miners access to surplus electricity “capacity” as the nation’s crypto pivot continues. Per TASS, the Russian Energy Minister Sergei Tsivilev explained the ministry’s plans on September 5. He was speaking on the sidelines of the...

S Korean Government Agency Director ‘Ran Crypto Mining Server at Work’

A South Korean government-affiliated food agency employee has been charged with creating and running a crypto mining server at work. Dong-A Ilbo reported that the unnamed Korea Food Research Institute employee was caught in the act during an audit by the National Research Council of Science and...

Russia: Illegal Crypto Mining Crackdown Intensifies as Officials Seize 238 Rigs

Russia’s illegal crypto mining crackdown continues in its unofficial Bitcoin(BTC) mining capital, with authorities confiscating 238 rigs from a community ostensibly dedicated to gardening. The state media outlet TASS reported that the Investigative Committee of the Russian Federation for the...

Crypto Mining and Data Centers Take up 2% of Electricity, Tax Policy May Help: IMF

The International Monetary Fund (IMF) reports that crypto mining and data centres together account for 2% of global electricity. This figure is expected to rise to 3.5% within the next three years, raising concerns about the environmental impact of these energy-intensive industries.Increasing the...

, by Tanzeel Akhtar

Russian President Putin Signs Law Legalizing Cryptocurrency Mining

Russian President Vladimir Putin officially signed on August 9 a law that legalizes cryptocurrency mining within the country. The legislative action classifies mining as a turnover component rather than a currency issuance.According to a report by Russian news agency TASS, the new legislation...

, by Hassan Shittu

Russian Senate Green-lights Crypto Mining Law – But Is There a Twist for BTC Miners?

The Russian Senate has approved a draft law on crypto mining, meaning the landmark bill will now pass into law, pending the signature of President Vladimir Putin. However, while some Russian Bitcoin (BTC) miners have welcomed the news, others are unsure about the development. Russian Senate OKs...

South Korean Prosecutors Shut Down $1.3M Crypto Mining ‘Scam’

South Korean prosecutors have indicted an unnamed man they suspect of orchestrating a $1.3 million crypto mining-themed “scam.” Per Asia Kyungjae, prosecutors think the individual promised investors “guaranteed” monthly returns of between 3% and 8% on their...

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