Electricity News

Electricity is the physical flow of electrons. This flow is an energy carrier and is used to deliver energy for electrically-powered devices and establishments. Electricity is a major problem for the cryptocurrency industry. Blockchain electricity consumption values vary due to the algorithm used for establishing consensus. Proof-of-work cryptocurrencies demand a lot of power to operate. As a major PoW cryptocurrency, Bitcoin electricity usage is estimated around the value equal to that of Ireland. Bitcoin mining electricity is the most consuming part of the cost. Blockchain electricity consumption is also an environmental problem, as the growing amount of power demand may lead to climate change. Fixing the problem of large electricity requirements is a field of work for many tech companies. The most used technology for reducing energy demand is a proof-of-stake consensus algorithm that changes the way mining is performed.

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Why is the crypto market down today?

Why is Bitcoin price down today?

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

Biden budget proposes 30% tax on crypto mining electricity usage

2023-03-09T22:46:15+00:00

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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...

Man faces arrest over alleged crypto mine hidden under a school

2023-02-24T05:54:24+00:00

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To start mining Bitcoin at home, one needs to obtain a Bitcoin wallet and a mining rig, install the Bitcoin mining software, and join a mining pool.

How to mine Bitcoin at home

2023-01-26T11:20:00+00:00

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

British Columbia to halt new power connections for crypto miners

2022-12-22T05:57:42+00:00

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

Kentucky to scrutinize contracts offering cheaper electricity to miners

Brayden Lindrea

2022-12-06T02:28:27+00:00

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The Bitcoin miner warned its cash reserves may be depleted by the end of 2022 or sooner as it cuts back on spending, including not making loan repayments.

Core Scientific in ‘substantial doubt’ of continuing without more cash

2022-11-23T02:23:44+00:00

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Energy provider Hydro-Québec cited the high energy demands anticipated in the Canadian winter in its reasons to reallocate 270 megawatts from crypto mining firm...

Quebec’s energy manager to seek government approval to stop powering crypto miners

2022-11-03T21:55:00+00:00

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“We are in a completely different situation in the power market now than when the reduced rate for data centers was introduced in 2016,” said Norway's finance m...

Norway’s government proposes eliminating reduced electricity tax for Bitcoin miners

2022-10-06T16:15:00+01:00

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