Bitcoin Mining: Five news items that set the tone during the week
2. September 2020
In this weekly summary we present you the five most important news of this week in the field of Bitcoin mining. It is worth noting that, cryptomining is one of the most booming businesses in the world, especially in these months of pandemic.
The energy consumption, by the mining farms, has shot up to historical limits. Millions of people are going into business as a measure of need caused by the economic crisis of unemployment and business failure.
In other words, many of the people who have been put out of work and the traders who have gone bankrupt due to the pandemic are now miners. For this reason, Bitcoin mining continues to generate news of impact on all five continents.
Top Five Bitcoin Mining News
This is the list of the most important headlines, which were references in the main news portals:
Illegal Farms in Iran Are Targets for Snitches and State Security Forces.
The government of Inner Mongolia (China) is considering the elimination of energy subsidies for the Bitcoin miners.
The total consumption of Bitcoin mining soars to 7.46 Gigawatts.
Riot Blockchain buys 5,100 ASICs and joins the high-speed race for Bitcoin hash rate dominance.
Since May’s Halving, the difficulty of Bitcoin mining has increased by 9%.
More than a thousand farms dismantled by Tehran authorities
The Islamic Republic of Iran is one of the most striking countries in terms of its government’s behavior towards Bitcoin Millionaire mining. Until a few months ago, the activity was furiously pursued by state officials.
However, since a few weeks ago, it has been legalized with strict control by Tehran. In this sense, operating without state authorization is a crime. On the other hand, government-subsidized electricity rates do not apply to Bitcoin mining.
This has motivated the miners to operate clandestinely in busy industrial areas, which complicates their location. In response to this, the Persian authorities began a campaign to reward people who denounce clandestine farms.
So far, more than 1,000 farms have been dismantled, according to information from Iranian officials.