Alexey Zhikharev, director of the Renewable Energy Development Association (REDA), revealed that cryptocurrency mining accounts for almost 1% of Russia’s energy consumption. He stated that as the industry grows, miners will increasingly employ renewable energy sources. Russia’s Cryptocurrency Mining Energy Expenditure Nears 1% of the Nation’s Total The growth in Russia’s cryptocurrency mining industry energy […]
During the opening week of the year, the Kheavyhash algorithm—used for mining kaspa (KAS)—topped the profitability charts among proof-of-work (PoW) algorithms. Fast forward to today, and Scrypt has claimed the crown as the most lucrative choice for miners, particularly those extracting dogecoin (DOGE) and litecoin (LTC). Mining Algorithms Push Limits in a Historic Year As […]
Though the month isn’t quite over yet, bitcoin miners have already outperformed their November earnings, amassing $ 1.33 billion in December with two days still on the clock. Bitcoin Ends the Year With Record Hashrate and Higher Revenue This uptick in revenue has been fueled by stronger bitcoin prices, but there’s a twist. The …
According to a report from Blockspace Media, there’s a new entity on the block that has quietly climbed to become the third-largest publicly listed mining firm in terms of hashrate. Stealth Hashrate: Cango’s Surprising Crypto Pivot There’s a publicly listed Chinese car company called Cango that has shifted gears from automotive financing and car trading […]
The 2024 bitcoin halving event sparked major changes in the mining scene, according to the latest “State of the Network” report by Coin Metrics and analyst Matías Andrade. Battle for Hashrate Dominance The April 2024 halving, which slashed block rewards from 6.25 BTC to 3.125 BTC, severely impacted miner earnings. Coin Metrics’ new report reveals […]