This article was originally published by 8btc and written by Lylian Teng. Authorities in Zhenjiang, a city in east China’s Jiangsu Province, have arrested 13 men after they reportedly stole electricity worth roughly $3 million (over 20 million yuan) to mine bitcoin. The power authority of Zhenjiang noticed an unusual spike in electricity consumption and abnormal line loss in some factories, and reported them to the local police. … [Read more...] about 13 Arrested for Stealing $3 Million of Electricity to Mine BTC in China
Electricity
Bitmain Launches Low-Cost Special Edition Antminer S9
On Monday, June 17, the Chinese mining rig manufacturer Bitmain Technologies announced the launch of a low-cost miner called the Antminer S9 version SE. The new 16 terahash per second (16TH/s) S9 SE is $350 per unit and the launch celebrates the company’s most popular product, the original S9. Also read: Report Insists ‘Bitcoin Was Not Purpose-Built to First Be a Store of Value’ Special Edition S9 With 16 Terahash per Second Bitmain has launched … [Read more...] about Bitmain Launches Low-Cost Special Edition Antminer S9
Bitcoin Mining in Africa: What Can Be Done to Encourage Mining?
The next bitcoin gold rush will be in Africa. Solar and wind energy can promote sustainable bitcoin mining in Africa. These statements ooze of optimism. However, optimism is often only on paper. In the real world, Africa is far from being a bitcoin mining hub. Strict regulations, costly electricity prices and the high cost of setting up a mining rig are some of the major reasons why the African mining community is spread so thin. The … [Read more...] about Bitcoin Mining in Africa: What Can Be Done to Encourage Mining?
74% of the World’s Bitcoin Mining Operations Driven by Renewable Energy Says Report
There’s a lot of debate over whether bitcoin mining is bad for the environment. Many bureaucrats and mainstream media pundits claim that mining is wasteful and bitcoin’s energy consumption cannot be ignored. However, these claims have been refuted in the past and on June 6, Coinshares published a report that details mining is not environmentally imprudent but rather 74.1% of the Bitcoin mining industry is “heavily” driven by renewable energy … [Read more...] about 74% of the World’s Bitcoin Mining Operations Driven by Renewable Energy Says Report
Québec Allocates 300 MW Energy Quota for Crypto Mining
Québec, the resource-rich Canadian province, has made up its mind about cryptocurrency mining. Régie de l’énergie, the region’s energy regulator, has rendered its decision on the blockchain sector and lifted the moratorium on electricity supplies. An additional 300 MW of energy will be allocated to power the minting of digital coins, a move that local officials hope will make Québec one of the major forces in the industry. Also read: Will … [Read more...] about Québec Allocates 300 MW Energy Quota for Crypto Mining