IKEA’s Research Laboratory Applies Blockchain in Renewable Energy Projects

Copenhagen-based furniture giant IKEA’s research laboratory Space10 has successfully created a small wooden village to exhibit how communities could craft their individual circular clean energy system. The project uses solar panels and blockchain to make an operational energy system through a neighbor-to-neighbor trading system. Bas Van De Poel, creative director at SPACE10 said:  “Centralized energy…

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College kids are using free campus electricity to mine cryptos

While colleges are known to produce sharp minds in various professions, they are now doing much more. According to research conducted by Cisco, college kids are now using free campus electricity to mine cryptos.  Security researchers at Cisco have been monitoring crypto mining operations across various industries. According to their research, colleges rank second in…

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Germany: Suspects Arrested for Stealing Electricity in Crypto Mining Operation

In the German city of Klingenthal, Saxony, police have arrested a group of suspects for stealing electricity to operate a cryptocurrency mining farm, Cointelegraph auf Deutsch reports Feb. 6. Police officers reportedly tracked down a system of 49 computers operating in the premises of former electrical services company PGH Elektro. Since at least 2017, the…

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Bitmain Suspends Texas Mining Operations

Bitmain’s woes continue with layoffs and a muddled suspension that leaves behind a skeleton crew. The mining giant Bitmain has suspended operations at its mining facility in Rockdale, Texas, according to a report from Texas Public Radio. When (and if) Bitmain will resume mining activities is up in the air. Bitmain announced the Rockdale mining…

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Government of Abkhazia Cuts Off Power to 15 Cryptocurrency Mining Facilities

The government of the Republic of Abkhazia has cut power to some cryptocurrency mining farms due to electricity concerns, state electric utility Chernomorenergo RUE announced in a Facebook post on Dec. 31. Per the announcement, Chernomorenergo cut power to 15 facilities with a total capacity of 8,950 kilowatt-hours (kWh), which is purportedly equivalent to the…

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Two Mining Companies Among Georgia’s Major Electricity Consumers

Two companies mining cryptocurrencies have topped a list of the largest consumers of electricity in Georgia. In this crypto-friendly nation, however, that’s not necessarily a sin or a disadvantage. Energy-intensive enterprises in the Caucasian country purchase the power they need at wholesale prices. Also read: Huobi and Major Russian Bank to Provide Legal Help to…

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Canada’s DMG Blockchain Puts 85 Megawatt Crypto Mining Facility Into Operation

Canadian blockchain and cryptocurrency company DMG Blockchain Solutions Inc. has energized its new crypto mining facility, according to an announcement published Nov. 8. DMG states that the facility will start at 60 megawatts, and can expand its capacity up to 85 megawatts. DMG Blockchain Solutions initially revealed its plans to launch the station in July,…

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Québec Charging Cryptocurrency Miners Double for Electricity

The Canadian province of Québec has been given permission to charge cryptocurrency miners higher electricity rates than those charged to residential customers. Canada has never been one to shy away from their interest in cryptocurrencies. They are also using blockchain technology to streamline certain air travel procedures and have given the go-ahead for a blockchain exchange-traded fund (ETF)….

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New Power Rates for Cryptocurrency Miners in Upstate New York

The New York Public Service Commission (PSC) has approved new electricity rates for cryptocurrency miners in Upstate New York. Details of the New Rates In a press release issued by the New York PSC, high-density power consumers like cryptocurrency miners under the Massena Electric Department will pay new utility rates. The new rules approved by…

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New York State Approves a Bid to Provide Cheaper Electricity to Crypto Miners

Despite worries about cryptocurrency mining — from the impact that it can have on the environment to the potential impact it can have on the rates for other local electricity consumers — the state of New York has approved a bid to provide cheaper electricity to miners. State of Crypto Mining in New York Yesterday,…

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Bitcoin Network Energy Demand To Skyrocket By End Of Year

Bitcoin mining is potentially lucrative, but it’s also increasing the world’s energy consumption. This week, economist Alex de Vries published some eye-popping estimates. In a society concerned with energy conservation and the human toll on our environment, the energy consumption required to successfully mine bitcoin is a rising concern. On May 16, economist Alex de…

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Power Ledger Partners with Japanese Electric Company

Power Ledger partners with one of Japan’s largest electric utility companies to democratize the production of excess power from consumers. Power Ledger, an Australian blockchain startup that lets customers trade electricity freely, entered a partnership with Japan’s second-largest electric company. The Kansai Electric Power Company (KEPCO) has 164 power plants and employs over 30,000 employees….

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Bitcoin Miners Unaffected by Price Decline — Hashrates Spiked Exponentially

Despite the multitude of headlines declaring that bitcoin mining was becoming unprofitable over the last four months, the hashrate between both Bitcoin Core (BTC) and Bitcoin Cash (BCH) networks has exploded. At the moment both SHA-256 proof-of-work (POW) powered protocols have been maintaining more than 35 exahash per second, becoming one of the most powerful…

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Plattsburgh Officials Want Bitcoin Miners to Vacate the Small Town

Last week officials from the small town of Plattsburgh New York filed a moratorium request against bitcoin mining operations that currently reside in the town and future mining endeavors. The proposal was issued by the Mayor’s office and cites concerned over electricity use and energy consumption. Also Read: From ‘Attack’ to ‘Optimization’ — Slush Pool Reveals…

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New Study Looks at the Cost to Mine BTC Across the Globe

Just recently the firm Crescent Electric Supply Company conducted a study that showed the cost of mining one single bitcoin in each state in the U.S. Since then the company’s subsidiary business Elite Fixtures took the research further by charting the cost to mine a single bitcoin in each country across the world. Also read:…

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