Electricity News

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After forming a new government, Alexander Lukashenko has prioritized boosting Belarus’ energy grid and using excess power to mine cryptocurrency.

The registered crypto trading firm allegedly stole “hundreds of millions of baht” from electricity providers, amounting to at least $2.88 million.

If approved, the restrictions would seriously affect Russia’s crypto mining operations, as some key local industry firms have a heavy presence in regions like Irkutsk.

The company aims to prevent wasted renewable energy through curtailment and promote the widespread use of Bitcoin mining.

Manitoba is extending a moratorium on new power connections, and British Columbia is introducing legislation that could prohibit the provision of power to new miners.

U.S. Senator Cynthia Lummis said that while this shows that the government is bullish on crypto, a 30% tax would destroy the industry’s foothold in the country.

Many areas of the Lone Star State experienced subzero temperatures in January — a weather event that has previously led to Bitcoin miners temporarily curtailing operations.

Cambridge researchers have revised the widely cited index in response to evidence indicating periodic overestimation of Bitcoin mining’s electricity consumption.

According to the report, Europe is home to nine of the 10 least profitable countries for Bitcoin mining, based on household electricity costs.

The tax is intended to reduce greenhouse gas emissions, electricity costs and local environmental pollution, but has not been kindly received by the crypto community.

The tax would be phased-in at 10% per year over three years and covers electricity generated from both on and off-grid sources.

A former facilities worker in the U.S. state of Massachusetts is alleged to have stolen nearly $18,000 worth of electricity to run 11 miners in a school’s crawl space.

British Columbia has cited prioritizing clean energy and job creation as the main reasons for suspending cryptocurrency mining operations.

The Kentucky government is investigating whether the proposed discounted electricity for crypto miners will raise electricity costs for Kentucky residents.