Uzbekistan’s National Agency of Prospective Projects (NAPP) made public its expectations of cryptocurrency mining companies. Only businesses that employ solar energy would be permitted to mine Bitcoin (BTC) or other cryptocurrencies. The normative act, dated June 24, on the government website, outlines the confirmation of “Guidelines on the registration of the crypto assets mining,” and […]
Crypto Mining
Uzbekistan Legalizes Crypto Mining, but Only Solar-Powered
Uzbekistan, a Central Asian country, has voted to enable enterprises to mine cryptocurrency using solar energy. Crypto mining will also provide tax benefits to the corporations. All crypto activities by domestic and foreign enterprises will be free from income tax in the country. In 2018, Uzbekistan welcomed the cryptocurrency industry by allowing cryptocurrency trading, but […]
Iran: Illegal crypto miners can no longer avail subsidized electricity
The Iranian administration has decided to pass new legislation, increasing penalties to prevent illegal cryptocurrency mining from using subsidized electricity, an official with the country’s Power Generation, Distribution, and Transmission Company [known as Tavanir] announced. According to the Tehran times coverage, the increase in punishments includes rising fines by a minimum of three and a […]
Otago’s Locals Protest Against a Newly Constructed Mining Facility
Otago’s locals are protesting against a contentious data center in Clyde, Central Otago. It is set to open in October, and power firm Contact Energy believes it will be the first of several in New Zealand over the following few years. Lake Parime, a UK-based digital infrastructure firm that provides services for blockchain and cryptocurrency, […]
Oklahoma Marches Ahead In Providing Tax Incentives For Bitcoin Miners
The state of Oklahoma is leading the way among its peers as lawmakers have recently introduced legislation that aimed to provide tax incentives to bitcoin and cryptocurrency miners who establish their businesses in the region. Just a few weeks back Oklahoma’s governor Kevin Stitt announced a new crypto mining headquarters in Pryor. Later Sen. John […]
Kazakhstan to raise tax on crypto mining
Kassym-Jomart Tokayev, the president of Kazakhstan, advocated for a higher tax on cryptocurrency mining merely weeks after a new charge went into force, local news outlets reported on Tuesday. He noted, “It is necessary to identify all mining farms, check tax and customs issues, and at the same time carefully study the contracts on the basis […]
Texas crypto miners shut down their operations as winter storm approaches
As a severe winter storm looms on Texas, crypto miners are turning down operations to help lessen the pressure on the state’s already troubled electrical infrastructure. One of the biggest publicly listed crypto mining businesses in America, Riot Blockchain, began turning down electricity to its Rockdale mine on Tuesday. “As the storm has persisted, we […]
Bitcoin (BTC) Up For a Good Medium-Term Outlook: Bitfury CEO
In a recent interview with the ‘closing bells’ of CNBC, the former CEO of Binance.US discussed Bitcoin (BTC) and how ‘some things are going on short-term’ that are negative for the token. Brian Brooks, the CEO of Bitfury, said that the asset’s short-term price decline was due to the Fed’s recent meeting minutes, where it […]
Here’s how Costa Rica’s crypto mining business is receiving a major boost
In Costa Rica, a 30-year-old hydropower plant that was on the verge of closure received a shot in the arm after the owner decided to utilize the energy generated to feed hundreds of computers hooked up to the cryptocurrency mining business. The plant according to Eduardo Kooper was forced to revamp itself after three decades […]
Iran takes a bold stand by allowing use of Crypto for international payments
With many countries going big on cryptocurrencies, Iran seems to be taking a similar stance. According to local media reports, on 11 January 2022, the country’s businesses will be permitted to use cryptocurrency as a mode of payment in international settlements. Alireza Peyman-Pak, the head of the Trade Promotion Organisation (TPO) of the country said […]