Sustainable energy usage for BTC mining grows nearly 60% in a year

Bitcoin (BTC) mining companies are further adopting green energy as the global Bitcoin mining industry increased its sustainable energy mix by approximately 59% year over year. The Bitcoin Mining Council (BMC) is group of 44 Bitcoin mining companies claiming to represent 50% of the global Bitcoin network, or 100.9 exahash (EH). It released a new report on Monday April 25 with the findings. The group is also fronted by Bitcoin proponent and MicroStrategy CEO Michael Saylor. The latest survey of BMC member companies questioned how much electricity their companies consumed,…

This Earth Day analysts say Bitcoin mining is naturally gravitating to green energy

April 22 is Earth Day and with environmental sustainability one of the key topics in the global debate surrounding Bitcoin mining, analysts say the industry has begun to naturally gravitate towards cleaner and cheaper energy sources. According to a January report by the Bitcoin Mining Council, by Q4 2021, the global Bitcoin mining industry ran on an estimated 58.5% renewable energy. The preference for clean energy is due to a combination of environmental conscientiousness, political pressures, and an eye on the bottom line. It’s resulting in a sea change that…

US Treasury Dept lists crypto mining firm in latest sanctions against Russia

The United States Treasury Department has added Russia-based crypto mining services provider BitRiver and several subsidiaries as firms facilitating the evasion of sanctions.  In a Wednesday announcement, the Treasury Department’s Office of Foreign Assets Control, or OFAC, said it was taking action against BitRiver AG as well as 10 of its Russia-based subsidiaries, naming the companies as ‘Specially Designated Nationals’. Firms and individuals listed as such by OFAC have their assets blocked and “U.S. persons are generally prohibited from dealing with them.” According to the U.S. Treasury, the actions against…

North Dakota hopes to double the $3B of clean crypto mining in the state

North Dakota government officials rocked up to the Bitcoin 2022 conference in Miami to lure cryptocurrency miners into their greener pastures. They came with the promise of the “cleanest crypto on the planet.” The North Dakota Commerce Department dropped $35,000 on the trip, saying it expected a return of 20,000% or more from its presence at the conference. The department announced that the state has already secured $3 billion of crypto investment and is close to attracting another $3 billion worth of projects. North Dakota hopes to end its reliance…

Mining Gets Its Moment Under the Sun

“Last year, it wasn’t that [mining] was an afterthought, but it didn’t have nearly the pull or the promotion from the conference,” Whit Gibbs, the founder and CEO of bitcoin mining and services company, Compass Mining, told CoinDesk from the exhibition floor. “And this year…they promoted [the mining stage], they’ve got speakers that are more engaging, drawing in the crowds. It’s been great,” he said. Author: Aoyon Ashraf Source link

Twitter debates the role of renewable energy in Bitcoin mining

It all started with a tweet by Dennis Porter, podcast host and self-described Bitcoin advocate, that led to a heady discussion about renewable energy and the role of Bitcoin miners. Porter asserted that Bitcoin (BTC) creates incentives to build out renewables, but environmental scientist Peter Gleick rebuffed the statement as a “self-serving lie.”  The comments section got heated when Nic Carter, Castle Island Ventures general partner and Coin Metrics co-founder, entered the chat and called out Gleick for allegedly not knowing anything about energy.  Tell me you don’t know anything about…

Greener Bitcoin Mining Could Be China’s ‘Trillion-Dollar Present’ to the US

When a miner wins a block reward of Bitcoin, it is issued a matching amount of sustainable Bitcoin certificates (SBCs), which, like Bitcoin, are on-chain tokens divisible by 100 million. These tokens can be held or uncoupled from the Bitcoin coinbase and sold to institutional investors and ESG-focused investors, who can then match these to their Bitcoin holdings. Next month, the protocol will carry out its first end-to-end transaction from distribution of SBCs to a miner, to those being sold on to an ESG-focused investor, van Voorhees said. Author: Ian…

Security PSA: Mining Pool Scams Targeting Self-Custody Wallets | by Coinbase | Mar, 2022

By Coinbase Security Team As part of our mission to build a more fair, accessible, efficient, and transparent financial system enabled by crypto, we actively monitor for security threats not only to Coinbase but to the crypto ecosystem as a whole. As we have discussed in our previous blog posts on industry-wide crypto security threats and airdrop phishing campaigns, malicious activity against any crypto user or business is bad for the industry. That’s why it’s important to have a community mindset when we see security threats in the wild. As…