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It was recently unearthed by Russian authorities that an entire mining hub was being operated inside a psychiatric clinic of Russia’s oldest prison. Yup, you did read that right. An illegal mining hub was being operated inside Butyrskaya prison in the Tverskoy District of central Moscow since last November 2021. It is believed that the rigs operated till February 2022 and during this time they consumed about 8,400 kilowatts of government-paid electricity which amounts to 62,000…

As the Russia vs Ukraine war progresses, various financial organisations and governments have pointed out multiple times the possibility of Russia being able to evade the economic sanctions put on them via unscrupulous means mainly one of them being cryptocurrency. As crypto transactions aren’t based on any traditional economic networks, it is hard to track and block. Recently, the IMF has pointed out and warned again that Russia may be planning to use its vast…

Cryptocurrency mining is a concept that most people interested in crypto have heard about but don’t know about it clearly. Mining is energy-intensive and requires expensive hardware and software. There are several processes that miners must follow. These include verifying transactions and performing mathematical calculations known as Proof of Work (PoW) and later developed systems such as Proof of Stake (PoS) and other proofing methods such as Proof of Authority (PoA). These systems use a…