Bitcoin miners consumed as much as energy in 2018 as Hungary, according to Alex de Vries. The researcher at the Netherlands’ PricewaterhouseCoopers (PwC) branch studied bitcoin’s global energy consumption all across the year. He found that existing hydropower projects were not sufficient in sustaining the cryptocurrency mining operations, adding that the bitcoin network demanded as…
Recent reports show that Bitcoin mining uses great amounts of renewable energy due to economic incentives. This turn of events raised their numbers of sustainable power mix to almost three times higher than the world average. As renewable energy offers low costs, bitcoin miners, who had to spend 68.42% of their total income to purchase…
Having banned the exchanges where cryptocurrencies like Bitcoin are traded, the Chinese government is now cracking down on the plants where such currencies are mined. The Yingjiang Administration Bureau for Industry and Commerce, which enforces enterprises and consumer protection laws, issued a notification to the Bitcoin mining facilities operating in China’s Yunnan province. The bureau…
Bitcoin, the world’s largest cryptocurrency network whose coin, BTC, is the most valuable, seems to have been invaded by an unknown miner. And the community has the new guest on their radar. Unknown Miner Dominates In the last few hours, the entity has not only plugged into the network but has proceeded to mine several…
What is Intel ’s Pat Gelsinger doing? Who is he talking to while promoting Intel’s new bitcoin mining chips? In a recent Bloomberg interview, Gelsinger uses every ESG buzzword in the book to promote their “energy-efficient ASIC chip.” Is this the right strategy? Who will be Intel’s clients? And why is this man lying about…
Bitcoin mining is a topic that keeps popping up recently on the news concerning the crypto industry. And Vanguard, one of the world’s largest investment firms, has joined in on the action, as it has increased its stake in Bitcoin mining stocks to over half a billion dollars. Vanguard Buys More Bitcoin Mining Stocks When…
The ESG-focused mining company HIVE is the latest organization to sign a deal with Intel. It joins Block, Argo Blockchain, and GRIID, as the first clients and testers of the giant’s new ASICs. Intel’s Bonanza Mine project is quickly becoming one of bitcoin’s stories of the year. It’s funny that, so far, no one has…
Phenomenal piece by Reason Magazine. We at NewsBTC have been countering the Bitcoin-is-bad-for-the-environment narrative for a while now. Now, we have a new tool. A short and sweet documentary that rests on a devastating premise. “Such environmentalist attacks on bitcoin are best understood as a strategy by economic, media, and political elites to undermine a…
As analysts continue to debate the future of the flagship cryptocurrency, Bitcoin, the network’s hashrate has seen exponential growth, with this key indicator poised to experience an 100% increase (from the beginning of the year) before the year runs out. How Bitcoin’s Hashrate Has Grown The hashrate, which is used to measure the computational power…
The Bitcoin mining difficulty has witnessed another increase in 2023, bringing the metric to a new all-time high. The Bitcoin “difficulty” is a vital aspect of the network that controls the rate at which new blocks are added to the blockchain at a given time. Bitcoin Mining Difficulty Surges To A New High Of 67.96T…