Quebec’s energy manager to seek government approval to stop powering crypto miners
Hydro-Québec, the firm managing electricity across the Canadian province of Quebec, plans to reallocate energy supplied to crypto mining firms. According to a Nov. 3 tweet from Canadian lawmaker Pierre Fitzgibbon, the government will request a decree from the energy board to release the company from its obligation to power crypto miners in the province. […]
Norway’s government proposes eliminating reduced electricity tax for Bitcoin miners
Trygve Slagsvold Vedum, the finance minister of Norway, has suggested the government abolish a scheme that allows crypto data centers to pay a reduced rate on electricity. In an Oct. 6 announcement, the government of Norway proposed that data centers operating in the country be subject to the same electricity tax rates as other industries, […]
Nuclear and gas fastest growing energy sources for Bitcoin mining: Data
The electricity mix of Bitcoin (BTC) has drastically changed over the past few years, with nuclear energy and natural gas becoming the fastest growing energy sources powering Bitcoin mining, according to new data. The Cambridge Centre for Alternative Finance (CCAF) on Tuesday released a major update to its Bitcoin mining-dedicated data source, the Cambridge Bitcoin […]
Bitcoin network power demand falls to 10.65GW as hash rate sees 14% drop
The overall power consumption of the Bitcoin (BTC) network recorded a drastic drop after mimicking the two-week-long fall in the mining hash rate, which reduced the commuting power for mining BTC blocks to 199.225 exahash per second (EH/s). According to the data shared by the Cambridge Centre for Alternative Finance, the Bitcoin network recorded the […]
Bitcoin's real energy use questioned as Ethereum founder criticizes BTC
The ever-raging debate around Bitcoin’s energy consumption has been re-ignited, with founding member of Ethereum Anthony Donofrio claiming that Bitcoin is using “way too much” energy. According to figures from Digiconomist, Bitcoin (BTC) currently uses 0.82% of the world’s power while Ethereum (ETH) uses 0.34%. Ethereum researcher Justin Drake posted the figures to his 56,000 […]
Decentralizing the grid: Operators test blockchain solutions
The world’s energy market is rapidly evolving, moving from hydrocarbon plants to a future centered around clean energy enabled by wind and solar power. As such, today’s energy market is shifting to an increasingly decentralized, real-time model based on distributed energy resources (DERs) including battery energy storage systems, solar arrays, natural gas generators and more. Recent […]
Bitcoin miner Riot Blockchain files prospectus for $500M stock sale
In a document filed with the United States Securities and Exchange Commission (SEC) on Thursday, Bitcoin (BTC) mining company Riot Blockchain announced that it would be selling up to $500 million worth of common stock to finance general corporate expenses, such as working capital, repayment of corporate obligations, capital expenditures and acquisitions, and investing in […]