Venezuela Bans Crypto Mining To Protect Power Grid
In a post on X, the National Association of Cryptocurrencies of Venezuela announced that the country has banned crypto mining to protect the power grid. Due to its high electricity requirements, the Venezuelan government has joined the list of nations that disapprove of cryptocurrency mining. The Ministry of Electric Power in Venezuela has revealed plans […]
Argentina To Mine Bitcoin With Natural Gas
Argentina’s YPF Luz collaborates with Genesis Digital Assets to mine Bitcoin using natural gas from oil fields, turning stranded energy into a resource. Bitcoin is becoming more and more popular in Argentina’s energy sector. This is the case with a state-owned facility that uses natural gas that has been stranded from oil fields and would […]
Will Biden’s Plan To Tax Crypto Mining Reduce Emissions?
According to Worldometer, the global energy consumption of Bitcoin mining alone is estimated at around 0.59% of the world’s energy usage. Therefore, Biden’s plan to tax crypto mining might help reduce emissions. Cryptocurrency miners based in the United States could soon face a tax equal to 30% of the cost of electricity they use if President Joe […]