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Mining cryptocurrency

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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…

Abkhazia, a de-facto state of Georgia that is recognised by Russia as an independent country that has been constantly involved in various negative news related to its various abrupt approaches towards crypto, especially towards the mining sector. The country currently suffers from the same issue of electricity shortage due to over mining of crypto which once haunted Iran and hence, Iran was forced to put up a countrywide ban against crypto mining. The ban was…

In July 2019, the Iranian government had for the first time officially recognised the cryptocurrency mining sector as a legal industrial activity. Since then mining companies or mining farms have had to apply for licensing and permits for them to legally operate in Iran. The licensing and permits were all and are still handled by the Ministry of Industries of Iran. Thus, this became a safe heaven for crypto miner’s as back then and still…

Chinese SSD (Solid State Drive) maker Galax, has recently put on a disclaimer message on its website that any user who uses their SSDs for mining/farming cryptocurrencies will get their SSD’s warranty void. This disclaimer was posted on the company’s website after the company saw a large number of people getting interested to use their SSDs for mining or farming a new type of cryptocurrency like Chia. Chia is a new cryptocurrency created by Bram…