Bitmain Technologies, the world’s biggest maker of crypto mining machines, is planning to open its first factory in the United States. The company is choosing between Texas and Florida, and the new factory is expected to start working by early 2026. This is a big shift for Bitmain, which has mostly operated in China and Southeast Asia. The company wants to get closer to its American customers, avoid high tariffs, and be part of the “Made in America” movement. Producing equipment in the US will also help Bitmain deliver machines faster and repair them more easily for local users. Bitmain…

The Energy Ministry of Russia has initiated a national list of crypto mining equipment to help users avoid some common tax issues and difficulties with catching their own illegal miners. The Ministry of Energy, the Federal Tax Service, and the Ministry of Digital Development were among the agencies creating this registry, which was shared with localities with a high concentration of mining, the government newspaper RIA Novosti said on Friday. In June, Ivan Chebeskov of the Finance Ministry noted that despite Russia’s new crypto mining legislation, only 30% of miners had registered with the tax authority since the end of…

While institutional  investors stack up Bitcoin via hybrid cryptocurrency service providers and custodians, a solo Bitcoin miner made a profit of over $35,000 with simple Crypto mining equipment. The miner pulled off the biggest feat in mining Bitcoin by just utilizing 2.3 PH/s of energy to mine an entire block.  Pete Rizzo, an eminent leader in cryptocurrency, pointed that the Bitcoin miner cracked block #903883. This feat is referred to as the crypto mining version of winning a lottery. The block was mined on CKpool – a pool for mining crypto for individual miners. Why Is This A Big Deal?…

The Bitcoin Rattle Riot Platforms reported that they mined 459 Bitcoin in June. This reading is a whoping 12% decrease from May’s 514 BTC. CEO of Riot, Jason Les emphasized the company’s “economic curtailment” and voluntary participation in the Electric Reliability Council of Texas’s (ERCOT) Four Coincident Peak (4CP) program and other demand response initiatives. Riot CEO This strategy, he noted,  “significantly contributes to grid stability while enhancing Riot’s competitive positioning.”  The 4CP program, which began in June, is designed to manage peak electricity demand during the summer months (June, July, August, and September) and imposes transmission charges on large…

As per Pakistan’s local media, The International Monetary Fund (IMF) has rejected Pakistan’s request to provide subsidised electricity for crypto mining indicating that a subsidy could potentially damage the country’s already struggling power sector, facing over $4.5 billion in circular debt. Pakistan came up with a proposal to provide electricity subsidies for crypto mining during low demand winter months. This, along with the recently formed national Bitcoin reserve, is part of Pakistan’s ambitious plans to become a regional hub for cryptocurrency. Pakistan had suggested offering electricity at around $0.08 per kilowatt-hour (Rs 22-23/kWh) to crypto miners, hoping to reduce excess…