|All Time High:
|The last known price of #MINE is $0.0000941 USD.
Please note that the price of #MINE was last updated over 40 days ago. This can occur when coins have sporadic price reporting, no listings on exchanges or the project has been abandonded. All #MINE statistics should be considered as 'last known value'.
The lowest MINE price for this period was $0, the highest was $0.0000941, and the exact last price of MINE was $0.00009415.
The all-time high MINE coin price was $0.30.
Use our custom price calculator to see the hypothetical price of MINE with market cap of ETH or other crypto coins.
|The code for Pylon Protocol crypto currency is #MINE.
Pylon Protocol is 2.3 years old.
|The current market capitalization for Pylon Protocol is $205,528.
Pylon Protocol is ranked #1502 out of all coins, by market cap (and other factors).
|The trading volume is unknown today for #MINE.
|The circulating supply of MINE is 2,183,086,278 coins, which is 22% of the total coin supply.
|MINE has very limited pairings with other cryptocurrencies, but has at least 1 pairing and is listed on at least 1 crypto exchange.
View #MINE trading pairs and crypto exchanges that currently support #MINE purchase.
|Note that there are multiple coins that share the code #MINE, and you can view them on our MINE disambiguation page.
Community Update — June 2023
Community Update — June 2023 - Terra’s resurgence continued in June with the official release of Warp Protocol and its $LUNA buyback and burn fee mechanism, Cavern’s deployment of auto-compounded LP collateral types, TFM’s launch of its aggregated limit order book, and much more! Let’s dive into everything that happened within the Terra ecosystem in June 👇 — 🌎 Ecosystem Updates - Following insightful community feedback, testing, and iteration, Warp Protocol had its official release, announcing plans to go interchain and leverage its fee mechanism to buy back and burn $LUNA., Astroport launched Warp-powered limit orders with future plans to integrate across each of its deployments on Injective, Neutron, and Sei., Astroport deployed Passive Concentrated Liquidity pools on testnet and announced plans to deploy on mainnet soon, setting the stage to increase liquidity efficiency across LPs on Terra., Cavern, a money market built on Terra, launched two new collateral types: auto-compounded LUNA-axlUSDC LP positions on both Eris and Spectrum. They also announced that they wouldn’t be taking 100% of the rewards from these LP positions, allowing borrowers to earn yield while borrowing., Cavern integrated Kado, enabling users to onboard into the TeFi ecosystem using fiat currencies like USD, EUR, and others., TFM unveiled its Aggregated Limit Order Book (ALOB): a novel Web3 product aggregating l...
Community Update — May 2023
Community Update — May 2023 - The month of May furnished the Terra community with several positive new developments. From Prism announcing its plan to establish an Alliance with LUNA upon chain debut to Carbon whitelisting ampLUNA and stLUNA as Alliance assets, there’s plenty to cover in this month’s update. Let’s dive into everything that happened!👇 — 🌎 Ecosystem Updates - Station launched Alliance staking, allowing users to seamlessly stake their Alliance assets across Alliance chains. Check out this walkthrough video from Jared to see how it works., TFM introduced a Cosmos-first with NFT limit orders., Back Bone Labs announced that its NFT marketplace, Necropolis, added support for new NFT collections and would only charge trading fees starting July 1st, 2023., TFM unveiled its new NFT aggregator, allowing users to research and buy NFTs across various marketplaces all in one interface., Orne released its Monthly Update for April., Noble.xyz announced that they’d be bringing native USDC to Station., Smart Stake launched Liquid Staking Token (LST) rich lists, allowing users to track the largest holders on Terra., Lion DAO started using @warp_protocol jobs to distribute ROAR staking rewards to community members automatically., Station welcomed the new Blossom and Moon themes, which users can toggle to in settings., TFL announced the Alliance Dashboard Bounty Program, offering up $1,000 worth ...
Community Update — April 2023
Community Update — April 2023 - It’s not easy to ship cool shit when the entire world tries to FUD you to death, but that’s precisely what the Terra community did in April. From the unveiling of Terra’s cutting-edge new Alliance module to the introduction of Enterprise’s user-friendly, no-code DAO management platform, there’s a lot to unpack in this month’s update. Let’s get into it! 👇 — 🌎 Ecosystem Updates - Quick note: I also rolled a few March updates in here, as I didn’t get the chance to publish a March Community Update. TFL released Alliance, a powerful open-source economic tool enabling Cosmos blockchains to trade yield. By allowing multiple tokens to be staked on a single chain, earning native staking rewards, Alliance opens up a range of use cases that strengthen decentralized economies, including attracting users, liquidity, and developers, deepening liquidity for essential token pairs, incentivizing native application development, and diversifying or augmenting staking yield, Using Terra’s Alliance module, Migaloo enabled an industry first when @0xFab1e staked bLUNA on Migaloo, earning native WHALE staking rewards in exchange for augmenting native WHALE staking yield via the bLUNA Take Rate, Following the passing of prop 4717, I published a Medium article outlining what Alliance is, how it works, why chains like Migaloo and Kujira have decided to integrate it, and why it’s ...
Alliance: Harnessing the Power of Incentive Alignment
Following an overwhelming vote of approval on proposal 4717, the LUNAtic community has successfully integrated the Alliance module into Terra mainnet, opening up a range of possibilities for growth and cross-chain collaboration. Alliance represents a paradigm shift in scaling decentralized economies. Let’s dive into how it works, why chains like Migaloo and Kujira have decided to integrate it, and what makes it the ideal tool for Terra. — How Alliance Works - An exciting feature that’s emerged from the Internet’s transition from Web2 to Web3 is the ability to enable large-scale coordination among disparate participants by utilizing economic incentives. As an open-source Cosmos SDK module, Alliance builds on this concept, empowering blockchains to align incentives with adjacent chains, developers, and users to strengthen and expand their ecosystem. At its core, Alliance aims to serve as an economic instrument that steers a decentralized economy’s monetary policy (i.e., staking rewards) toward achieving desired objectives. Functionally, this is accomplished by allowing users to stake multiple tokens on a single chain to earn a portion of native staking rewards — a feature never before possible in Web3. The module was designed with flexibility in mind, accommodating staking for any token, including IBC assets, stablecoins, LP tokens, and liquid staking derivatives (LSDs). Alliance was also carefully crafted...
Project Spotlight — Eumlet
Project Spotlight — Eumlet - In this edition of Terra’s Project Spotlight, we are eager to present Eumlet — a revolutionary Next-Gen Payments Platform. 🤫 Pssst.. the app is live now at app.eumlet.com Eumlet is a business payments operating system designed for Web3. The platform offers businesses a range of tools to digitise payment processing, manage their accounts, and obtain valuable insights from their data efficiently and securely. Eumlet is committed to creating opportunities for businesses to benefit from the switch to Web3. The user-centric platform is feature-rich and designed to meet users where they are in their adoption journey. With the Fiat to Web3 Bridge, businesses can easily and securely convert traditional currencies to cryptocurrencies natively with no intermediaries — a first in architecture to directly connect traditional banking systems to Web3. — How it All Began - Eumlet began its journey in 2021 with the goal of empowering underserved SMEs to build a more sustainable and resilient future. Ultimately, Eumlet strives to accelerate Web3 adoption and win the fourth industrial revolution of digital cash through stablecoins. The Eumlet team has a combined 75+ years of experience in the technology and finance industries, building and scaling some of the largest systems for major financial institutions and hailing from tech-pedigree companies such as Microsoft, Google, and AWS. E...
Community Update — February 2023
Community Update — February 2023 - Amidst ongoing challenges, the Terra community continued to prove its mettle in February, shipping products, launching new features, creating educational content, and actively engaging in governance discussions. Let’s dive into everything that happened this last month! — 🌎 Ecosystem Updates - The three-week Game of Alliance competition began, allowing users and validators to complete various missions and bounties for their chance to earn points and prizes, The Alliance Docs got an upgrade, adding a revamped overview page with use cases, an improved layout, infographics, and a detailed “How it Works” section, Warp Protocol launched on Terra’s Phoenix-1 mainnet, bringing unparalleled, decentralized automation capabilities to the TeFi ecosystem, TFL released the macOS beta version of Terrarium, a complete local Terra blockchain for developing and testing smart contracts, Genie launched its public beta, allowing protocols to create Web3 growth campaigns, CMDX and CMST were added to Station, Dexter Money released details on its tokenomics, Redacted Money added support for axlUSDC and axlUSDT, White Whale’s token, WHALE, started trading on Terra, White Whale announced that it would be integrating Eris Protocol’s liquid staking solution on its new chain, Migaloo, Astroport integrated limit order functionality, allowing Terra users to buy and sell Terra assets a...
Community Update — January 2023
Community Update — January 2023 - The Terra ecosystem kicked off 2023 with a bang, announcing Station — an interchain wallet designed for simplicity and usability — several new products and features, three Alliance module integrations, and much more. Let’s get into it! — 🌎 Ecosystem Updates - TFL launched Station, a new interchain wallet incorporating chains like Mars, Osmosis, Axelar, and others, Enterprise Protocol released a deep dive into its roadmap and upcoming features, Sayve Protocol announced their IPC on Valkyrie Protocol, Apello launched their new Apello Sales Tracker Discord bot, allowing users to track NFT sales, Nauticus launched their V1 on Terra mainnet, TFL provided context on an issue with Jimmy Le not returning community funds to the Terra Community Pool, Illiquid Labs released their new NFT Multi-Sender and Airdropper tool, The community hosted a community AMA to discuss Enterprise Protocol and its roadmap, Nepture Finance provided a community update covering their money market, beta testing, risk frameworks, and integration docs, Knowhere.art announced it would officially close down marketplace services on Feb. 15th, 2023, Dexter, a new AMM building on Terra, announced its presence and focus on building toward the Alliance LSD wars, Arbie launched a browser extension allowing users to take advantage of arbitrage opportunities on Terra, as well as monitor token pric...
Community Update — December 2022
Community Update — December 2022 - 2022 was a turbulent year for almost everyone within the crypto community. Still, as many take time off and wait patiently for the bear market to come to a close, LUNAtics remain focused on building the next generation of Web3 products and services. Let’s dive into the protocol launches, ecosystem developments, governance activity, and media features the Terra community saw in December! 👇 — 🌎 Ecosystem Updates - TFM became the first protocol to integrate DEX aggregation + NFT aggregation services on Terra, with additional features in its V2, Warp Protocol released its roadmap and discussed it on its community AMA, Warp Protocol published a Medium article outlining the protocol’s key functionalities and how they can be used to power the next generation of decentralized applications, Enterprise Protocol published a Medium article breaking down how its DAO management solution enables decentralized communities to organize and manage their DAOs, improving their flexibility, governance, and transparency, Warp and Enterprise released links to their community Discord and Telegram channels, Prism announced Prism V2, a yield-optimized L1 utilizing a hub and spoke model, Hermes Protocol made it possible to explore the blockchain without leaving Discord and introduced a new notifications API, Astroport delayed its $ASTRO unlocks by six months, Genie by Coinhall released a sign...
Terra’s first step towards building the interface to Web3 is complete. We’re thrilled to announce the launch of Station 🛰 — an interchain wallet that simplifies the often complex, cumbersome process of interacting with multiple blockchain networks. With Station, users can easily stake, vote, send and receive tokens, and interact with their favorite dApps across all supported chains. Download Station on Mac, Download Station on Mac — M1 Chip, Download Station on Windows, Download Station on Linux (.rpm), Download Station on Linux (.deb), Download the Station Chrome extension, Download the Station Firefox add-on, Visit the Station web app, Note: If you already have Terra Station downloaded on your desktop, Chrome, or Firefox, reopen the app or refresh the extension, and you will be updated to interchain Station. — Defining the Future of the Interchain - At Terra, we envision a multi-chain future — one in which decentralized blockchain economies can align incentives with one another by creating bilateral, mutually beneficial economic agreements, and creating a new chain takes mere minutes. Station paves the foundation for this vision, providing those that automate chain genesis via Feather with immediate interchain wallet functionality, and supplying those chains that form economic alliances with others via Alliance with an easy-to-use, easy-to-integrate wallet to execute cross-chain transac...
Community Update — November 2022
Community Update — November 2022 - November was a banner month for Terra and the LUNAtic community. Aside from exciting new launches, updates, and governance activity, the future of Terra began to take shape. It’s becoming clear: Terra is soon to position itself as the interface to Web3. When every win matters, we’d be remiss not to call them all out. Onwards with your November community update! — 🌎 Ecosystem Updates - Harbor Protocol announces details around their airdrop, Stader Labs drops a new UI upgrade that enhances their staking experience on Terra, Do Kwon presents a proposal to position Terra at the center of the interchain, unveiling ideas for Feather, Alliance, and cross-chain Station/Finder, Alliance, a Cosmos SDK module that leverages interchain staking to form economic alliances among blockchains, introduces itself to the world, Coinhall’s Seer launches real-time data indexing infrastructure for the Cosmos ecosystem, Enterprise Protocol, a no-code solution to DAO management, launches in beta, Warp Protocol goes live on Terra’s testnet, bringing limitless on-chain automation to the Terra ecosystem, PRISM announces the launch of the prism validator and $PRISM airdrop, Based on the Genesis $LUNA airdrop schedules, vesting $LUNA begins to vest, Soil Protocol releases a video tutorial on how to launch an NFT project on Terra, TERRAN.ONE releases CWSimulate, an online playground and vi...
More Pylon Protocol (#MINE) News
|How To Mine Bitcoin And Crypto | Guide
Mining Bitcoin is the cornerstone of the BTC network, providing both security and new Bitcoins into circulation. This essential process involves powerful computers solving complex mathematical problems to validate transactions on the network. As a reward for this computational work, miners receive new bitcoins, making it a potentially lucrative endeavor.
In this guide, we will explore the key aspects of “How to mine Bitcoin.” From understanding the basic mechanisms of how mining Bitcoin works to evaluating its economic feasibility, including the costs, potential earnings, and the time it takes to mine a single BTC. We'll also guide you through the practical steps of setting up a mining operation, including choosing the right Bitcoin mining rig and the necessary software.
Moreover, for those looking to expand their mining activities beyond Bitcoin, we'll cover the essentials of mining cryptocurrencies. We'll introduce various crypto mining software and tools, providing a comprehensive view of the wider crypto mining landscape.
How To Mine Bitcoin
Mining Bitcoin is the process through which new bitcoins are released and transactions are added to the blockchain. At its heart lies the Proof of Work (PoW) algorithm, which requires miners to solve complex mathematical problems to validate transactions. Miners compete to complete these problems first, and the winner receives Bitcoin rewards.
This process inherently involves the difficulty adjustment, which ensures that t...
|This Swiss Company Wants to Use Excess Energy From Food Production to Mi...
Gabbani, a hotel company based in Lugano, Switzerland, has unveiled an initiative to mine Bitcoin using excess energy from its food production facility. The new project is set to solidify Lugano's status as the leading European blockchain hub.
According to an official announcement by stablecoin issuing company Tether, Gabbani will install a Bitcoin mining system in its food production facility to harness excess energy as electricity costs in Europe continue to rise.
Food Production Energy for Bitcoin Mining
Besides utilizing excess energy from food production, Gabbani is also announcing the launch of 'The Banettone,' a product that will support Lugano's Plan B project. Plan B is a joint initiative created by Lugano and Tether to leverage Bitcoin technology as the foundation to modify the city's financial structure.
Gabbani's food facility, which houses the production of Banettone and other products, recently underwent several upgrades, including the installation of a 100,000 KW solar system. Recent developments serve a dual purpose of increasing the company's energy independence and sustainability and availing extra energy for Bitcoin mining operations.
'This forward-thinking approach firmly positions Gabbani as a trailblazer in its field, potentially making it the first of its kind worldwide. This fusion of high-quality food production, rooted in a tradition dating back to Domenico's grandfather in 1937, with cutting-edge technologies, underscores Gabbani's commitment to ens...
|Why Mine Bitcoin Or Stake Ethereum, When Bitcoin Spark Makes It Much Eas...
Cryptocurrency mining or staking has become a popular way of engaging with cryptocurrency to earn rewards. Bitcoin Spark enters with an innovative approach that promises to make the process 100 times easier.
In a landscape dominated by complexity, what if there was a simpler and more efficient way to engage with the crypto realm and reap the benefits? Bitcoin Spark offers a streamlined and accessible approach to participate in the crypto revolution, making cryptocurrency engagement more attainable for everyone.
Bitcoin works with a Proof-of-work mining protocol. As the pioneering cryptocurrency, PoW is as old as BTC. Bitcoin mining is the process by which new Bitcoins enter circulation. It’s the mechanism through which transactions are verified and added to the public ledger called blockchain.
Miners use powerful computers to solve complex mathematical problems that validate and secure transactions on the network. When investors and traders transact on Bitcoin, the transaction must be verified on the network to ensure its validity.
They compete to solve a complex math problem based on the data in the block, and the first miner to solve this problem creates a new block. The problem requires significant computational power to solve but is easy to verify once solved. This is the essence of the proof-of-work mechanism. The miner who successfully added the block is rewarded with newly created bitcoins (the block reward) and transaction fees from the transactio...
|Stronghold's Idea to Burn Tires to Mine Bitcoin Triggers Uproar in the U...
One of the leading cryptocurrency mining companies - Stronghold Digital Mining - is reportedly planning to use tire-derived fuel (made of shredded vehicle tires) in its operations in the state of Pennsylvania.
Burning such items is a toxic process that contaminates the nearby air, water, and soil. As such, it is no surprise that some locals and green activists are firmly against it.
Mining BTC Via Such a Method is 'Really Unacceptable'
According to a coverage by The Guardian, Stronghold seeks to burn tires and employ the generated energy into mining bitcoin: a controversial move due to its anti-green nature.
While the miner claims it will repurpose waste, others have argued that such a process causes pollution and is highly dangerous for people's health. Burning tires releases toxic chemicals into the atmosphere that can be linked to cancer, lung diseases, or birth defects.
Stronghold spokesperson - Naomi Harrington - told the media outlet that substances like tire fuel 'are especially needed when the quality of the coal refuse is low in energy content.' She also revealed that Stronghold has already obtained a permit to test the use of tire-derived power and now aims to secure authorization to use 78,000 tons of it.
One controversial fact is that the US Environmental Protection Agency has previously described burning vehicle tires as a preferable method to landfilling them.
However, residents of Carbon County, Pennsylvania (where Stronghold ho...
|GoMining: A New Way to Mine Bitcoin
An Analysis Into GoMining's New NFT, and their Tokenomics
Bitcoin mining company, GoMining, has changed the way we think about bitcoin mining with their GoMining NFTs, giving holders a share of ownership in their mining operations. With over 2,000 BTC paid out over the last two years, GoMining is proving their thesis that bitcoin mining can be easy and accessible for everyone.
With brand ambassadors like Khabib Nurmagomedov and the project's avid participation in the Bitcoin Mining Council, GoMining understands the importance of the cryptocurrency industry and the role of their bitcoin mining operations within it.
GoMining recently launched a major update to their tokenomics for the GoMining token. The new system has several implications for token and GoMining NFT holders. So let's dive into what exactly GoMining offers crypto users and their tokenomics system, breaking down the token's life cycle and distribution.
What is GoMining?
In its truest essence, GoMining is a bitcoin mining company that provides investment vehicles and settlement layers for crypto investors to invest in bitcoin mining and earn returns in BTC without the hassle of operating their own mining equipment. This fundamental revenue stream is the foundation for GoMining's ecosystem.
The project is able to offer 'virtual' bitcoin mining through their GoMining NFT, which is a digital asset that represents a share of hashrate, otherwise understood as computing power. The more computing power you own of GoMin...
|The Most Expensive and Cheapest Countries to Mine Bitcoin (BTC)?
According to a CoinGecko research, Italy is the most expensive nation for crypto miners since it takes almost $210,000 in electricity to produce one BTC. Other European countries like Austria, Belgium, Denmark, and Germany follow closely as the most unprofitable regions.
It is interesting to note that bitcoin mining is profitable in just 62 out of the 147 nations analyzed by CoinGecko. Despite its economic issues, Lebanon is the cheapest destination for such activities.
Europe Seems Like a No-Go for Miners
Bitcoin miners depend on several vital factors when deciding to join the ecosystem, with the cost of electricity, the quality of the employed machinery, and the network's mining difficulty being some.
The crypto data aggregator CoinGecko revealed that the average household electricity value to produce one bitcoin is $46,291. This is almost twice as much as the current price of the leading digital asset (approximately $26,000 when writing these lines).
However, there are regions where rates to mine BTC are way more expensive. Italy stands on the top of the list with an electricity cost of $208,560 needed to produce one bitcoin. Several other European nations, such as Austria, Belgium, Germany, Netherlands, the UK, and others, follow from second to ninth positions. The Cayman Islands is the only nation from the top 10 not located in the Old Continent.
CoinGecko determined that the high energy costs in Europe could be attributed to numerous reasons, including the global surge ...
|What's the Cost to Mine 1 BTC for Top Bitcoin Miners? Bernstein Clarifie...
Bitcoin miners have had a rocky start in 2023 after being battered by a severe market downturn the previous year. But as prices recovered over the last several months, they have been at significant capacity, according to Bernstein.
The brokerage firm's latest report weighs in on how large miners are poised to reap substantial benefits from such a growing trend.
Where do Miners Stand Ahead of Bitcoin Halving?
The report suggests that the 16 largest publicly listed mining firms collectively contributed to 16% of the overall mined BTC. The collective mining capacity of the companies was found to be at 72 exahashes per second (EH/s) and is expected to amplify the capacity by 182% within the upcoming 2-3 years.
According to Bernstein analyst Gautam Chhugani, the larger miners with low cost of production and low debt are poised to be 'the big beneficiaries of the expansion, with greater capacity,' to be resilient in the event of high volatility and cost surges resulting from the upcoming Bitcoin halving that is slated for April 2024.
With Bitcoin currently hovering near $29,000, 15 of the aforementioned Bitcoin miners have production costs below $15,000 per BTC, according to Bernstein's estimation.
The analyst leading the report stated,
'With the upcoming halving, that would double the cost of production, and would push a few miners to break even, assuming no price increase from here.'
Approval of Bitcoin ETFs Could be a Silver Lining
On the bright side, the approval of the Bitcoin...
|Kyrgyzstan to Spend $20 Million to Build a Hydropowered Crypto Mine (Rep...
The President of the Kyrgyz Republic - Sadyr Japarov - has reportedly approved the building of a cryptocurrency mining farm at a hydropower plant near the country's biggest river - the Naryn.
The political leader believes this development will allow the hydroelectric station to use its excessive energy since it can not sell it anywhere.
According to a local media outlet, President Japarov has allowed the construction of a crypto mining farm at the Kambar-Ata-2 Hydro Power Plant. The investment will cost approximately $20 million and could be one way to avoid energy losses since there are periods when the station produces more electricity than necessary.
The plant was launched in 2010 and develops 120 MW of energy each year. However, it could employ only 90 MW of this quantity, meaning the remaining 30 MW 'has been absorbed into the air.' In financial terms, it lost over $37 million due to that flaw.
'We have enough electricity on summer days. It even exceeds. We cannot sell anywhere. Therefore, in order to benefit the energy system, we are allowing sites that can carry the load,' Japarov explained.
He outlined that the crypto mining facility could temporarily shut operations during winter when the power plant's productivity is not that high. The construction of the mine should happen in the next nine months.
In addition, Japarov stated that the government has intentions to build more hydroelectric power plants and start exporting ener...
|Former Cohasset High School Employee Accused of Stealing Thousands in El...
A former school assistant facilities director in Cohasset, Massachusetts, has been accused of operating a cryptocurrency mining operation inside a crawlspace at Cohasset High School. The Cohasset Police Department alleges that Nadeam Nahas stole nearly $18,000 in electricity to power the crypto mining scheme.Former Cohasset School Employee Faces Charges for Electricity Theft in School Crawlspace Crypto Mine
A report published by Boston's WCVB network alleges that Nadeam Nahas, a former school employee in Cohasset, Massachusetts, stole electricity from the district to mine cryptocurrency. Nahas is accused of setting up the operation at Cohasset High School's crawlspace, where multiple computers, ventilation devices, and connected wiring were found.
Photographs taken by the Cohasset Police Department show that the mining devices appear to be application-specific integrated circuit (ASIC) mining rigs, possibly used for mining bitcoin. Police accuse Nahas of secretly mining cryptocurrency for eight months on the school's campus, and the town's IT director discovered the operation was a crypto mine.
Investigators, Cohasset police, and members of the Department of Homeland Security were involved in the case and removed the miners from the high school's crawlspace. The investigation lasted three months, and investigators estimate that approximately $17,492 in electricity was stolen.
Nahas is one of many individuals accused of stealing electricity to power cryptocurrency mining oper...
|Kenyan Firm Using Wasted Energy to Mine Bitcoin — Business Model S...
A Kenyan bitcoin mining company, Gridless, recently revealed how it is helping local communities reduce electricity costs by using excess generated power to mine bitcoin. The Gridless model has been hailed because it potentially helps to decentralize bitcoin mining as well as move some hashpower to Africa.Using Wasted Energy to Mine Bitcoin
Gridless, a Kenya-based crypto mining company, has said the excess electricity from mini-grid hydro generators is now being used to mine bitcoin. The revenue generated from bitcoin mining helps to reduce or subsidize the cost of electricity.
In a recently issued statement, Gridless said while mini-hydropower plants that generate below 100 KW (kilowatts) are being used so far, the company's objective is to work with larger plants which can generate 500 KW. The bitcoin mining company said:
We've been working with mini-grid hydro generators in Kenya on how to use their excess capacity for Bitcoin mining, which also significantly reduces the cost of power to the local community. Small
|Tornado in the Coal Mine — How Globalists Plan to Penalize Privacy...
No privacy. No property. No prosperity. If you follow the news, you've seen the trend - putting legal limits on cash transactions, the emergence of surveillance-oriented, central bank digital currencies (CBDCs), and more recently, crypto mixing platform Tornado Cash being sanctioned by the United States Treasury. There is a new wave of propaganda increasingly demonizing individual financial privacy and 'private' cryptocurrencies and protocols. You've likely experienced the dystopian push in your own life, as banks and financial institutions demand more and more sensitive, personal information, and freeze your hard-earned money while telling you to prove you are not a criminal or terrorist before you may access it. World Economic Frustration
What is a 'canary in a coal mine'? The Free Dictionary defines it as 'Something or someone who … acts as an indicator and early warning of possible adverse conditions or danger.' The saying hearkens back to the 'practice of taking caged canaries into coal mines. The birds would die if methane gas became present and thereby alert miners to the danger.'
With the recent Office of Foreign Asset Control (OFAC) ban on crypto mixing platform Tornado Cash, some in the cryptocurrency space have been accurately describing a specter of a dark world that is to come, and that is already massively here. That is, if individuals globally do not start to speak out and stand up now against economic tyranny.
One ethereum advocate has observed:
|Bitriver to Mine Crypto Using Excess Gas From Gazprom Neft's Oil E...
Russian crypto mining operator Bitriver will use electricity generated from associated gas provided by Gazprom Neft to mint digital coins. As part of a new agreement, the mining company will in return develop the digital infrastructure at the oil producer's wells in Russia.Crypto Mining Operator Bitriver to Cooperate With Russian Oil Giant Gazprom Neft
Russia's third largest oil producer, Gazprom Neft, will power data centers operated by the country's leading crypto mining company, Bitriver. The electricity needed for the production of digital currencies will be generated using associated petroleum gas, a form of natural gas found with oil deposits.
The arrangement is part of a memorandum of cooperation signed by the two companies during the St. Petersburg International Economic Forum, RBC Crypto reported, quoting a Bitriver representative. The announcement comes after the Russian mining operator was recently placed under U.S. sanctions.
In accordance with the agreement, the mining firm will develop the digital infrastructure at Gazprom Neft's oil fields and provide services relying on computing hardware, the report details.
Gazprom Neft's business model does not encompass digital currencies but the oil giant is seeking solutions that would allow the 'beneficial use' of the associated gas obtained during oil extraction.
The infrastructure necessary to utilize the associated gas for the energy-intensive mining of crypto assets has been built already at Gazprom Neft enterprise...
|Uzbekistan Enables Companies to Mine Bitcoin Using Solar Energy (Report)
The government of Uzbekistan will reportedly allow local firms to mine digital assets using solar energy. It will also exempt all crypto mining operators from paying income tax.
Uzbekistan Urges for Using Solar Energy
The Central Asian country does not stand as a crypto-friendly destination. At the end of 2019, the authorities prohibited residents from purchasing digital assets while selling remained legal.
Nearly a year ago, the former Soviet republic contemplated a U-turn and lifting some of its restrictions. The government intended to allow Uzbeks to conduct “all types of crypto operations involving crypto assets and tokens in exchange for both domestic and foreign currency.”
However, according to current laws, Uzbeks are still prohibited from buying bitcoin or altcoins, while the legislation does not apply to foreigners.
A recent coverage by Reuters revealed that the government has now turned its focus toward the digital asset mining industry. The authorities have proposed that Uzbek miners should start powering their supercomputers with solar panels. Those who do so will pay less for electricity, while businesses connected to the power grid will pay double the regular price.
Local crypto miners do not have to obtain a special license to function, but they should be registered with the newly formed Uzbek National Agency for Perspective Projects.
Binance Finds Uzbekistan Attractive
The growth of the crypto sector in the Central Asian nation over the past few ye...
|Russia Could Mine Bitcoin and Other Cryptocurrencies to Evade Sanctions,...
Russia could use cryptocurrency mining to evade sanctions, according to the IMF.
The IMF warned in its new report that sanctioned countries like Russia could use cryptocurrencies and significantly boost their mining industry to evade any economic sanctions imposed on them.
The International Monetary Fund (IMF) indicated in its report on global financial stability that Russia could be planning to use cryptocurrency mining to circumvent economic sanctions imposed by the United States and the European Union in the wake of its war against Ukraine.
Today's key takeaway from #IMFMeetings: the IMF downgraded its global growth outlook, reflecting the impact of the war in Ukraine, the risks posed by inflation, and more. Read our recap of the day here: https://t.co/t85JsfVouU pic.twitter.com/TNvBQdTNgp
— IMF (@IMFNews) April 20, 2022
According to the IMF, Russia could rely on many tools to move money outside the traditional financial system. One prominent example could be the use of non-compliant cryptocurrency exchanges along with anonymity-enhancing platforms, such as DEX or mixers.
In addition, the IMF stressed the use of privacy cryptocurrencies such as Monero (XMR), which could help avoid tracking transactions, making it easier for the Russian government to alleviate the effect of the financial block.
Russia could use mining to evade sanctions.
Russia is the most sanctioned country in the world —even more than North Korea— with over 400 different measures taken ...
|Tesla, Blockstream, and Block Team Up to Mine Bitcoin in Texas
Block, formerly named Square, and Blockstream team up to mine bitcoin off Tesla-supported solar power in Texas, as reported by CNBC.
Bitcoin mining is seen as an activity that incentivizes the monetization of renewable power production.
Tesla's 3.8 megawatts solar PV array, along with 12 megawatt-hours Megapack, will power the bitcoin mining facility located in Western Texas.
Block stated that '100% solar-powered bitcoin mining project with Blockstream, using solar and storage technology from Tesla, we aim to further accelerate bitcoin's synergy with renewables.'
Adam Back, the CEO of Blockstream, told CNBC during Bitcoin 2022 Conference that the company will install a dashboard capable of putting power performance data along with the number of total bitcoin mined on display. This is to prove that 'bitcoin mining can fund zero-emission power infrastructure and build economic growth for the future.'
Miners - like energy buyers who create a financial incentive for improving the core economics of renewable power production - provide demand for vast renewable energy sources available in Texas. This is an economically feasible way of renewables allocation, claimed by Castle Island Venture's Nic Carter.
If the project has proven profitable in its pilot stage, said Back, the companies involved would add wind power as another source of energy to power the mining and scale the entire project. This would reduce overall costs and help counteract the impact of solar during the downtime...
|Malaysia Detains Over 600 People for Stealing Electricity to Mine Crypto...
In the past two years, law enforcement authorities in Malaysia have arrested hundreds of individuals for theft of electricity allegedly used to mint digital currencies. The country's police force has also confiscated equipment worth millions of dollars. Malaysia Police Announce Results From Crackdown on Illegal Mining
Since 2020, Malaysian authorities have detained a total of 627 people involved in crypto mining activities using stolen electrical power, the country's Bernama news agency revealed. During the same period, law enforcement officials also seized mining hardware worth 69.8 million Malaysian ringgit ($16.6 million), according to the report.
In a quoted statement, Inspector-General of Police Tan Sri Acryl Sani Abdullah Sani noted that the arrests were made as a result of joint efforts with representatives of Malaysia's Tenaga Nasional Berhad (TNB) electric utility company and the Criminal Investigation Department (JSJ).
As part of the cooperation, the Royal Malaysia Police (PDRM) received nine four-wheel-drive vehicles from the TNB to be used by the JSJ in combating electricity theft across the country. The trucks were handed over to the PDRM by Datuk Baharin Din, TNB's chief executive officer.
'Royal Malaysia Police expresses its highest appreciation to TNB for its contribution,' Acryl Sani stated while declining to provide further details on the operations against the miners. He called on the Malaysian public to be aware of such activities and report to the police...
|Exxon Plans Using Excess Natural Gas to Mine Bitcoin
Exxon Mobil – a major multinational oil and gas corporation – is considering leveraging Bitcoin mining to make an even greater profit from excess oil production. The company may take its gas-to-Bitcoin pilot to multiple countries, after already using 18 million cubic feet of gas per month for this purpose.
A Clever Use for Bitcoin Mining
As reported by Bloomberg, Exxon is currently burning excess natural gas from North Dakota oil wells that would otherwise be burned off or flared, due to a pipeline shortage. The company takes gas from an oil pad in Bakken shale basin to power on-site Bitcoin miners as part of an agreement with Crusoe Energy Systems.
The project launched back in January of 2021 and was expanded further in July of that year. Now, America’s largest oil producer is planning to expand operations to Alaska, Nigeria, Argentina, Guyana, and Germany. This is according to sources that chose to remain private, as the information isn’t supposed to be public yet.
“We continuously evaluate emerging technologies aimed at reducing flaring volumes across our operations,” said Exxon spokeswoman Sarah Nordin. However, she refused to comment on rumors about the pilot project.
Bitcoin mining has grown into a full-blown industry built around Bitcoin’s proof of work mechanism. The mechanism requires that users race to solve a highly difficult mathematical problem by spending a tremendous amount of computational energy. The first to solve a ...
|How To Easily Mine Cryptocurrency for Beginners
You may have heard that it is possible to mine cryptocurrencies. Mining is a process of offering resources to a cryptocurrency network in exchange for a reward. Each network requires different types of resources and can offer different rewards based on network rules. For example, Bitcoin and Ethereum networks use computational resources from miners. This effort requires very powerful energy intensive graphic processors (GPU) to compete for recurring rewards. Other mining projects such as PKT Cash can be mined using bandwidth and a computer processor (CPU), such as a computer, server or mobile phone. While mining requires some technological understanding, it is not as complex as it may seem. Here are the steps to mine cryptocurrency so even as a beginner, you can quickly get started and begin earning.
Invest in a Cryptocurrency Mining Setup
In order to competitively mine cryptocurrency, you will need a powerful computer. Different cryptocurrencies require different equipment to be successful. In general, the more powerful the equipment, the higher the yields. Therefore, the first step is to invest into the best valued equipment for competitive mining.
Bitcoin and Ethereum require powerful GPU equipment to be profitable. There are a lot of resources available to determine the best equipment for mining Bitcoin and Ethereum, such as hardware providers like Bitmain and Canaan.
If you are operating powerful GPU or CPU mining equipment, it is important to invest in heat and noise co...
|Report: Intel Reveals 'Bonanza Mine BMZ1' Blockchain Acceler...
Last week the California-based technology company Intel explained its intentions to develop crypto mining semiconductors that would showcase '1000x better performance per watt.' Now Intel has revealed more details about the 'Bonanza Mine' (BMZ1) blockchain accelerator chip at this year's International Solid-State Circuits Conference (ISSCC).Intel's Bonanza Mine Crypto Chip Products Introduced at ISSCC
Information concerning Intel's new crypto mining accelerator chip has been revealed to the public, according to various reports covering 2022's ISSCC event. On February 12, Bitcoin.com News reported on Intel's intentions to craft blockchain accelerator chips as Intel executive Raja M. Koduri described Intel's goals.
Intel's presentations at ISSCC revealed the 'Bonanza Mine' (BMZ1) accelerator, but Tom's Hardware author Paul Alcorn explained that Intel is already working on a second-generation 'Bonanza Mine ASIC, known as the BMZ2.' Alcorn's research notes that Intel described how it combined 300 chips into a 'powerful 3,600W miner that delivers up to 40 [terahash per second (TH/s)] of performance.'
The BMZ1 leverages a 7 nanometer (nm) process and the size is an approximate '7 x 7.5mm exposed-die FCLGA package.' Alcorn says that while the BMZ1 is a 7nm process, it doesn't give many details on the process node.
'Each chip die measures 4.14 x 3.42mm, for a total of 14.16mm^2 of silicon, so these are comparatively small slivers of silicon,' the report published by Tom's Hardware ex...